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...

Employing the exogenous scenario of the "New Rules on Asset Management" in April 2018, this paper tries to explore the impact of the contraction of Chinese shadow banking on corporate investment behavior. This paper finds that the regulation leads to a 18.3% decrease in capital expenditure for...