Purpose: Employing the anti-corruption campaign as an exogenous political shock, this paper examines how political intervention shapes the impact of financial expert CEOs on firm investment decisions. Design/methodology/approach: This paper uses a sample of 2,808 Chinese firms listed in the...

We investigate the impact of CEO’s happiness on firm innovation in China. As happiness is difficult to measure, we use CEO’s age based on the Happiness Curve theory. We find that when CEOs are in their less happy midlife stage, they more actively promote higher reward and risk innovation...

We examine the stock dividend puzzle in China by analysing the market reaction, who pays more or solely stock dividends compared with cash dividends and why. In general, stock dividends send a positive market signal that is stronger for larger stock dividends and simultaneous cash dividend...