I develop a corporate governance framework, provide a broad overview of recent corporate
governance research, and place each of the Special Issue papers within the context of this …

内容提要: 本文在代理理论框架下, 基于中国国有企业薪酬管制的制度背景,
就经理薪酬对投资过度和投资不足的影响进行了理论分析, 并以我国上市公司2000—2004 …

Corporate involvement with social responsibility (CSR) is a voluntary practice. However,
governments have recently adopted a more supportive stance by providing research and …

To the best of our knowledge, this is the first study to examine the effect of pilot green
financial reform and innovation zones on corporate investment efficiency. To this end, we …

Much of our understanding of corporations builds on the idea that managers, when they are
not closely monitored, will pursue goals that are not in shareholders' interests. But what …

We provide empirical evidence of a strong causal relation between managerial
compensation and investment policy, debt policy, and firm risk. Controlling for CEO pay …

This essay surveys the body of research that asks how the efficiency of corporate investment
is influenced by problems of asymmetric information and agency. I organize the material …

This paper tests the proposition that higher tournament incentives will result in greater risk-
taking by senior managers in order to increase their chance of promotion to the rank of CEO …