The difference in wages between executives and employees reflects the class conflict corporate governance. To investigate political factors within practice of governance related to employees, this paper empirically tests relationship among connections, ownership within-firm pay gaps. We take A-share listed companies on Shanghai Shenzhen Stock Exchange as example, design hypothesis examine effec...

Humans are a coalitional, parochial species. Yet, extreme actions of solidarity are sometimes taken for distant or unrelated groups. What motivates people to become solidary with groups to which they do not belong originally? Here, we demonstrate that such distant solidarity can occur when the perceived treatment of an out-group clashes with one's political beliefs (e.g., for Leftists, oppressi...

This study examines the financing choices of firms operating in a weak institutional environment. We argue that in relationship-based systems, global financing and strong political connections are alternative means to create firm value. Well-connected firms might be less inclined to access global capital markets because (state-owned) domestic banks provide capital at low cost. Moreover, the exp...