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Succession has always been the everlasting theme of family enterprises, and the smallest oversight may cause bankruptcy. Therefore, in the era of knowledge-based economy, chief emotional officer plays significant role in the process of encouraging the emotion and improving the leadership. They are crucial in the relational governance, and may influence the stability and sustainability of family enterprises...
We investigate the long-run M&A performance of the listed firms in China based on a sample with a comprehensive 67 transactions. Using the Calendar-Time Abnormal Return method (CTAR), this paper finds that the performance of acquirers generally underperforms after the mergers. More over, the performance of acquirers marked by related party transactions, strong management ability or small size...
The incentive mechanism for independent directors has yet to be established so far. Through mathematical models and game theory, this paper analyzes the optimal incentive contracts between stockholders and independent directors under asymmetric information condition in order to solve the problems in establishing incentive mechanism for independent directors. Supervision mechanism is introduced and...
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