Please use this identifier to cite or link to this item: https://hdl.handle.net/10356/154551
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dc.contributor.authorChen, Shen-Syanen_US
dc.contributor.authorChen, Yan-Shingen_US
dc.contributor.authorKang, Jun-Kooen_US
dc.contributor.authorPeng, Shu-Cingen_US
dc.date.accessioned2021-12-28T04:22:50Z-
dc.date.available2021-12-28T04:22:50Z-
dc.date.issued2020-
dc.identifier.citationChen, S., Chen, Y., Kang, J. & Peng, S. (2020). Board structure, director expertise, and advisory role of outside directors. Journal of Financial Economics, 138(2), 483-503. https://dx.doi.org/10.1016/j.jfineco.2020.05.008en_US
dc.identifier.issn0304-405Xen_US
dc.identifier.urihttps://hdl.handle.net/10356/154551-
dc.description.abstractWe investigate how a shock to corporate demand for experienced directors (i.e., U.S. Congress’ grant of Permanent Normal Trade Relations status to China in 2000) affects U.S. firms’ board structure and board advisory role. We find that firms appoint more outside directors with China-related experience after the grant. Firms with such directors realize higher returns around announcements of investments involving Chinese firms and better post-deal operating performance, particularly when these directors reside in the U.S. The appointment of directors with China experience is also greeted more positively by the stock market and they gain more board seats after the grant.en_US
dc.language.isoenen_US
dc.relation.ispartofJournal of Financial Economicsen_US
dc.rights© 2020 Elsevier B.V. All rights reserved.en_US
dc.subjectBusiness::Financeen_US
dc.titleBoard structure, director expertise, and advisory role of outside directorsen_US
dc.typeJournal Articleen
dc.contributor.schoolCollege of Business (Nanyang Business School)en_US
dc.identifier.doi10.1016/j.jfineco.2020.05.008-
dc.identifier.scopus2-s2.0-85086102994-
dc.identifier.issue2en_US
dc.identifier.volume138en_US
dc.identifier.spage483en_US
dc.identifier.epage503en_US
dc.subject.keywordsPermanent Normal Trade Relationsen_US
dc.subject.keywordsChina-Related Experienceen_US
dc.description.acknowledgementWe are especially grateful to the referee, Michael Weisbach, for his valuable advice. We also thank Alexander Ljungqvist, Jerry Parwada, John Wei, William Schwert (editor), and seminar participants at Nanyang Technological University, National Central University, National Chiao Tung University, National Tsing Hua University, and Yuan Ze University for their useful comments. We are also grateful to participants at the 2018 Doctoral Symposium of National Taiwan University. Sheng-Syan Chen, Yan-Shing Chen, and Shu-Cing Peng gratefully acknowledge financial support from E.SUN Commercial Bank and the Ministry of Science and Technology in Taiwan (MOST 106–2917-I-002–021), respectively. All errors are our own.en_US
item.grantfulltextnone-
item.fulltextNo Fulltext-
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