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  1. The Influence of Academic Independent Directors and Confucianism on Carbon Information Disclosure: Evidence from China.Ren He, Mingdian Zhou, Jing Liu & Qing Yang - 2021 - Complexity 2021:1-14.
    As global warming has received widespread attention, the disclosure of firms’ carbon information has been expected by increasing stakeholders. This study extends the previous literature on the determinants of firms’ carbon information disclosure by examining the influence of academic independent directors and Confucianism on the quality of carbon information disclosure. Using a sample of Chinese listed firms in the CSI 300 Index during the period of 2012–2018, our empirical results show that academic independent directors have a significantly positive association with (...)
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  • Social Capital and Managers’ Use of Corporate Resources.Ziqi Gao, Leye Li & Louise Yi Lu - 2019 - Journal of Business Ethics 168 (3):593-613.
    This study investigates how social capital affects managers’ use of corporate resources. We find that for firms located in U.S. counties with a high level of social capital, (i) corporate cash holdings have higher marginal value, (ii) the contribution of capital expenditures to shareholder value is higher, and (iii) acquirers experience higher announcement-period abnormal stock returns. We further find that social capital decreases both over- and under-investment, and thus improves ex post corporate investment efficiency. Our evidence suggests that in communities (...)
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