Zheng, Dengjin; Xu, Yan; Wenren, Yangyang - In: China journal of accounting research : CJAR 17 (2024) 2, pp. 1-27
-natural experiment to examine the impact of the implementation of these guidelines on the investment efficiency of SOEs. The investment … efficiency of SOEs is significantly improved after the implementation of the guidelines. The impact is more pronounced on SOEs … find that the guidelines improve efficiency investment by reducing management's risk appetite, mitigating the Type I agency …