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Labour marketisation level and corporate labour investment efficiency: Evidence from China
16 references·0 citing·38 second hop
Labour marketisation level and corporate labour investment efficiency: Evidence from China (2023)Labour marketisation level and corporate …State-owned enterprises in China: A review of 40 years of research and practice (2020)State-owned enterprises in Ch…CEO-director ties and labor investment efficiency (2019)CEO-director ties and labor i…Does stock price informativeness affect labor investment efficiency? (2016)Does stock price informativen…Financial Reporting Quality and Labor Investment Efficiency (2013)Financial Reporting Quality a…New Evidence on Measuring Financial Constraints: Moving Beyond the KZ Index (2010)New Evidence on Measuring Fin…How does financial reporting quality relate to investment efficiency? (2009)How does financial reporting …Profits versus Losses: Does Reporting an Accounting Loss Act as a Heuristic Trigger to Exercise the Abandonment Option and Divest Employees? (2007)Profits versus Losses: Does R…Financial Constraints Risk (2006)Financial Constraints RiskThe Quality of Accruals and Earnings: The Role of Accrual Estimation Errors (2002)The Quality of Accruals and E…Do Investment-Cash Flow Sensitivities Provide Useful Measures of Financing Constraints? (1997)Do Investment-Cash Flow Sensi…Investment under Uncertainty (1994)Investment under UncertaintyA Theory of Predation Based on Agency Problems in Financial Contracting (1990)A Theory of Predation Based o…Efficient Capital Markets, Inefficient Firms: A Model of Myopic Corporate Behavior (1989)Efficient Capital Markets, In…R2 (1988)R2Risk, Return, and Equilibrium: Empirical Tests (1973)Risk, Return, and Equilibrium…Labor as a Quasi-Fixed Factor (1962)Labor as a Quasi-Fixed FactorFinancing Constraints and Corporate Investment (1988)The determinants and implications of corporate cash holdings (1999)Corporate social responsibility and access to finance (2013)The Economics of Disclosure and Financial Reporting Regulation: Evidence and Suggestions for Future Research (2016)Demand for green finance: Resolving financing constraints on green innovation in China (2021)Job Market Signaling (1973)Corporate financing and investment decisions when firms have information that investors do not have (1984)Dividend Policy under Asymmetric Information (1985)A Survey of Corporate Governance (1997)Corporate Governance and Equity Prices (2003)The economic implications of corporate financial reporting (2005)CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK* (1964)The Behavior of Stock-Market Prices (1965)THE VALUATION OF RISK ASSETS AND THE SELECTION OF RISKY INVESTMENTS IN STOCK PORTFOLIOS AND CAPITAL BUDGETS**This paper is another in a series of interrelated theoretical and statistical studies of corporate financial and investment policies being made under grants from the Rockefeller Foundation, and more recently the Ford Foundation, to the Harvard Business School. The generous support for this work is most gratefully acknowledged. The author is also much indebted to his colleagues Professors Bishop, Christenson, Kahr, Raiffa, and (especially) Schlaifer, for extensive discussion and commentary on an earlier draft of this paper; but responsibility for any errors or imperfections remains strictly his own.[Professor Sharpe's paper, “Capital Asset Prices: A Theory of Market Equilibrium Under Conditions of Risk” (Journal of Finance, September 1964) appeared after this paper was in final form and on its way to the printers. My first section, which parallels the first half of his paper (with corresponding conclusions), sets the algebraic framework for sections II, III and VI, (which have no counterpart in his paper) and for section IV on the equilibrium prices of risk assets, concerning which our results differ significantly for reasons which will be explored elsewhere. Sharpe does not take up the capital budgeting problem developed in section V below.] (1975)The Cross-Section of Expected Stock Returns (1992)On Persistence in Mutual Fund Performance (1997)Theory of the firm: Managerial behavior, agency costs and ownership structure (1976)Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers (1986)The Financial Accelerator in a Quantitative Business Cycle Framework (1998)Managing with Style: The Effect of Managers on Firm Policies (2003)Common risk factors in the returns on stocks and bonds (1993)… and the Cross-Section of Expected Returns (2015)Policy Uncertainty and Corporate Investment (2015)Accounting earnings and cash flows as measures of firm performance (1994)A Review of the Earnings Management Literature and Its Implications for Standard Setting (1999)Errors in Estimating Accruals: Implications for Empirical Research (2002)Understanding earnings quality: A review of the proxies, their determinants and their consequences (2010)A review of archival auditing research (2014)Contagion and competitive intra-industry effects of bankruptcy announcements (1992)CEO Overconfidence and Corporate Investment (2002)Financial Strength and Product Market Behavior: The Real Effects of Corporate Cash Holdings (2010)Chapter 12 The theory of equalizing differences (1986)Entry and Exit Decisions under Uncertainty (1989)Raising the Speed Limit: U.S. Economic Growth in the Information Age (2000)A review of tax research (2010)Textual Analysis in Accounting and Finance: A Survey (2016)The Stochastic Behavior of Commodity Prices: Implications for Valuation and Hedging (1997)Capital markets research in accounting (2001)
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References

  • 1973Risk, Return, and Equilibrium: Empirical Tests14,248 cited
  • 1994Investment under Uncertainty9,016 cited
  • 1997Do Investment-Cash Flow Sensitivities Provide Useful Measures of Financing Constraints?6,790 cited
  • 2010New Evidence on Measuring Financial Constraints: Moving Beyond the KZ Index5,574 cited
  • 2002The Quality of Accruals and Earnings: The Role of Accrual Estimation Errors5,163 cited
  • 2006Financial Constraints Risk3,702 cited
  • 2009How does financial reporting quality relate to investment efficiency?3,211 cited
  • 1989Efficient Capital Markets, Inefficient Firms: A Model of Myopic Corporate Behavior2,585 cited
  • 1962Labor as a Quasi-Fixed Factor1,409 cited
  • 1990A Theory of Predation Based on Agency Problems in Financial Contracting947 cited
  • 2020State-owned enterprises in China: A review of 40 years of research and practice656 cited
  • 1988R2630 cited
  • 2013Financial Reporting Quality and Labor Investment Efficiency455 cited
  • 2007Profits versus Losses: Does Reporting an Accounting Loss Act as a Heuristic Trigger to Exercise the Abandonment Option and Divest Employees?332 cited
  • 2019CEO-director ties and labor investment efficiency

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  • 2016Does stock price informativeness affect labor investment efficiency?256 cited
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