1.  79
    Do Lenders Value Corporate Social Responsibility? Evidence from China.Kangtao Ye & Ran Zhang - 2011 - Journal of Business Ethics 104 (2):197-206.
    Drawing on risk mitigation theory, this article examines whether the improvement of firms’ social performance reduces debt financing costs (CDFs) in China, the world’s largest emerging market. Employing both the ordinary least square (OLS) and the two-stage instrumental variable regression methods, we find that improved corporate social responsibility (CSR) reduces the CDF when firms’ CSR investment is lower than an optimal level; however, this relationship is reversed after the CSR investment exceeds the optimal level. Firms with extremely low or extremely (...)
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  2.  54
    Board Openness During an Economic Crisis.Kangtao Ye, Jigao Zhu & Sunny Li Sun - 2015 - Journal of Business Ethics 129 (2):363-377.
    Does a board with greater gender diversity make better investment decisions? Drawing on Austrian economic cycle theory and work groups theory, we argue that such board openness will help male board members to overcome gender biases, discrimination, and conflicts; integrate different perspectives under the economic cycle and crisis; and foster an environment in which better decisions are made. The results of an empirical study of 14,609 firm-quarter observations from 1,555 listed firms in China between 2007 and 2009 strongly support our (...)
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  3.  28
    Media Coverage and Firm Valuation: Evidence from China.Jiwei Wang & Kangtao Ye - 2015 - Journal of Business Ethics 127 (3):501-511.
    Drawing on both a managerial discipline perspective and an information intermediary perspective, we explore how media coverage of a firm’s controlling shareholder influences firm valuation in corporate China. Using 366 listed family firms in China from 2003 to 2006, we find that firms in which controlling shareholders receive more neutral media reports enjoy higher valuation, whereas negative media reports on controlling shareholders impose adverse effects on firm valuation. Interestingly, favorable media coverage of the controlling shareholders does not enhance firm value. (...)
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  4.  40
    Mandatory Corporate Social Responsibility (CSR) Reporting and Financial Reporting Quality: Evidence from a Quasi-Natural Experiment.Xue Wang, Feng Cao & Kangtao Ye - 2018 - Journal of Business Ethics 152 (1):253-274.
    This study examines the impact of mandatory Corporate Social Responsibility reporting on firms’ financial reporting quality using a quasi-natural experiment in China that mandates a subset of firms to report their CSR activities starting in 2008. We find that mandatory CSR disclosure firms constrain earnings management after the policy. The result is robust to a battery of sensitivity tests and more prominent for firms with lower analyst coverage. Further analyses reveal that upward earnings management by mandatory disclosure firms is more (...)
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