Government Intervention and Corporate Investment Efficiency: Evidence from China

Government intervention and corporate policies: Evidence from China ¬リニ¬リニ¬リニ

Available online 6 December 2014

CEO career concerns and investment efficiency: Evidence from China

Article history: Received 14 April 2014 Received in revised form 5 June 2015 Accepted 15 June 2015 Available online 20 June 2015 This paper investigates the impact of CEO career concerns on a firm's investment efficiency for publicly listed Chinese companies from 2002 to 2009. We use CEO age and appointment of new CEO as proxies for CEO career concerns. For thewhole sample, we demonstrate that ...

Institutions and Corporate Investment: Evidence from Investment-Implied Return on Capital in China∗

We assess the impact of institutions on Chinese firms’ corporate investment in an investment Euler equation framework. We allow the variables measuring institutions to affect the rate at which firm managers discount future investment payoffs. Applying generalized method of moments estimators to large samples of Chinese firms, we estimate the stochastic discount rates derived from actual investm...

Corporate Taxation and Investment Evidence from the Belgian ACE Reform

How Does Government Borrowing Affect Corporate Financing and Investment ?

Using a novel dataset of accounting and market information that spans most publicly traded nonfinancial firms over the last century, we show that U.S. federal government debt issuance significantly affects corporate financial policies and balance sheets through its impact on investors’ portfolio allocations and the relative pricing of different assets. Government debt is strongly negatively cor...