Abstract. This study empirically investigates the relationship between independent directors’ cash compensation and the likelihood of corporate fraud. Using data of 2542 Chinese firms and 17239 firm years from 2010 to 2017, the findings of logistic regression, firm-fixed effects, instrumental...

This study empirically investigates the relationship between independent directors' cash compensation and the likelihood of corporate fraud. Using data of 2542 Chinese firms and 17239 firm years from 2010 to 2017, the findings of logistic regression, firm-fixed effects, instrumental variable...

Causal evidence on the effect of managerial ownership on firm performance is elusive due to a lack of within-firm variation and credible empirical designs. We identify this causal effect by exploiting the 2003 Tax Cut as a natural experiment, which increased net-of-tax effective managerial...