Title | Can a mighty dragon crush a snake in its old haunt? The impact of QFII on board independence in China |
Author | |
Corresponding Author | Shuo,Yan |
Publication Years | 2022-09
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DOI | |
Source Title | |
ISSN | 0927-538X
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EISSN | 1879-0585
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Volume | 74Pages: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
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SUSTech Authorship | Corresponding
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Funding Project | National Natural Science Foundation of China[71802104]
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WOS Research Area | Business & Economics
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WOS Subject | Business, Finance
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WOS Accession No | WOS:000835099800009
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Publisher | |
Data Source | 人工提交
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Citation statistics |
Cited Times [WOS]:1
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Document Type | Journal Article |
Identifier | http://kc.sustech.edu.cn/handle/2SGJ60CL/352713 |
Department | Department 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 Affilication | Department 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.
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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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Files in This Item: | ||||||
File Name/Size | DocType | Version | Access | License | ||
PBFJpaper.pdf(515KB) | Restricted Access | -- |
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