中文版 | English
Title

Can a mighty dragon crush a snake in its old haunt? The impact of QFII on board independence in China

Author
Corresponding AuthorShuo,Yan
Publication Years
2022-09
DOI
Source Title
ISSN
0927-538X
EISSN
1879-0585
Volume74Pages:101800
Abstract

This study analyzes whether local economic freedom affects foreign institutional investors' promotion of board independence. Using firm-level foreign institutional ownership data, together with an anti-corruption reform that increases local economic freedom in China, we find that the positive relationship between foreign institutional ownership and board independence has been strengthened after the reform. This is especially large in regions with worse economic freedom. Our findings indicate that local economic freedom is crucial in promoting board independence among foreign institutional investors. Our results are robust to the instrumental variable approach and the placebo test and hold by applying alternative measurements of regional economic freedom.

Keywords
URL[Source Record]
Indexed By
Language
English
SUSTech Authorship
Corresponding
Funding Project
National Natural Science Foundation of China[71802104]
WOS Research Area
Business & Economics
WOS Subject
Business, Finance
WOS Accession No
WOS:000835099800009
Publisher
Data Source
人工提交
Citation statistics
Cited Times [WOS]:1
Document TypeJournal Article
Identifierhttp://kc.sustech.edu.cn/handle/2SGJ60CL/352713
DepartmentDepartment of Finance
Affiliation
1.School of Mathematics and Statistics, Shandong University, Weihai, China
2.Department of Economics, University of Massachusetts, Amherst, USA
3.Chinese Academy of Finance and Development, Central University of Finance and Economics, Beijing, China
4.Department of Finance, Southern University of Science and Technology, Shenzhen, China
Corresponding Author AffilicationDepartment of Finance
Recommended Citation
GB/T 7714
Liang,Guo,Lawrence,King,Kai,Wang,et al. Can a mighty dragon crush a snake in its old haunt? The impact of QFII on board independence in China[J]. Pacific-Basin Finance Journal,2022,74:101800.
APA
Liang,Guo,Lawrence,King,Kai,Wang,&Shuo,Yan.(2022).Can a mighty dragon crush a snake in its old haunt? The impact of QFII on board independence in China.Pacific-Basin Finance Journal,74,101800.
MLA
Liang,Guo,et al."Can a mighty dragon crush a snake in its old haunt? The impact of QFII on board independence in China".Pacific-Basin Finance Journal 74(2022):101800.
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PBFJpaper.pdf(515KB) Restricted Access--
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