Using novel data on independent directors' opinions in China, we investigate the stock and labor market effects prompted by independent directors publicly saying ‘no' to major board decisions. We find that the market reacts negatively to modified directors' opinions, but positively toward the...

Using novel data on independent directors' opinions in China, we investigate the stock and labor market effects prompted by independent directors publicly saying "no" to major board decisions. We find that the market reacts negatively to modified director opinions, but positively to firms...

This paper focuses on the role of absorptive capacity in determining whether or not domestic firms benefit from productivity spillovers from FDI using establishment level data for the UK. We allow for different effects of FDI on establishments located at different quantiles of the productivity...