We investigate the impact of tax-related human capital (THC) on corporate financial reporting aggressiveness. Using the presence of former or current tax officers from tax authorities on a firm's board of directors as a proxy for THC, we find that firms with tax officer directors report their...

We examine the impact of brand capital on corporate investment efficiency. We argue that brand capital can improve investment efficiency by not bypassing positive NPV projects, making the projects with higher probability to have positive NPV, and restraining managers’ opportunities to...

Basic shareholder rights include control rights, cash flow rights, and the rights to transfer shares. We investigate the impact of the divergence of shareholder rights on corporate risk-taking by exploiting two regulatory reforms in China. First, the privatization of Chinese state-owned...