We propose that independent directors are likely to play a political role in an institutional setting featuring weak investor protection and strong government intervention. Using Chinese data for 2001-2014, we investigate whether the stock price reaction to an independent director’s death is...

University spin-off firms contribute to bringing knowledge created at university to market. The networks these firms employ with other Triple Helix actors serve as not only getting access to resources but also shaping processes of collective learning in transforming the knowledge most...

Kinship ties are a common institution that may facilitate in-group coordination and cooperation. Yet their benefits - or lack thereof - depend crucially on the broader institutional environment. We study how the prevalence of clan ties affect how communities confronted two well-studied...

Using self-made billionaire entrepreneurs in China as a proxy for large entrepreneurs, we examine the impact of institutional environment quality on the longevity of such entrepreneurs. While property rights institutions and contracting institutions are important in explaining macroeconomic...