In this study, we focus on managerial incentives provided by debt-like compensation and further investigate whether and to what extent such managerial incentives may affect CEOs' decisions on risk management. Building on cumulative prospect theory and instrumental stakeholder theory, we propose...

This paper investigates the effect of ERP system implementations on agency cost in the introducing period in China. The research reveals that, for the listed companies, the agency cost after implementing the ERP System will reduce significantly; however, compared with the non-State-Owned...

Purpose – The purpose of this paper is to test the effect of informal finance and trade credit on the performance of private firms. Design/methodology/approach – Based on a survey to private firms in 19 cities, the paper empirically tests the promoting effects of informal finance and trade...