We manually collected a dataset comprising the overseas experiences of management teams of listed Chinese firms and investigated the effects of returnee talent on firm investment efficiency (InvEff). The results show that 1) returnees improve InvEff significantly, especially for firms that...

We study how economic policy uncertainty (EPU) influences firms' overseas investment in Chinese listed companies. We find a significant negative relationship between EPU and firms' overseas investment after controlling for firm characteristics and macroeconomic variables. Chinese firms seem to...

This study examines whether and how politicians’ hometown favoritism shapes local environmental governance at the firm-level. We introduce the shock that politicians return to their hometowns as leaders to show the following findings: First, only when the environmental quality becomes the...