Does the Economic Stimulus Package Stimulate Firm Investment and Improve Investment Efficiency? Evidence from China

2014 ◽  
Author(s):  
Qigui Liu ◽  
Xiaofei Pan ◽  
Gary Gang Tian
Keyword(s):  
Investment Efficiency ◽  
Firm Investment ◽  
Economic Stimulus ◽  
Stimulus Package

Employment Effectiveness of China's Economic Stimulus Package

2010 ◽  
Vol 18 (1) ◽  
pp. 33-46 ◽  
Author(s):  
Fang Cai ◽  
Dewen Wang ◽  
Huachu Zhang
Keyword(s):  
Economic Stimulus ◽  
Stimulus Package

Prospects for Russian domestic politics in 2019

2018 ◽  
Keyword(s):  
Domestic Politics ◽  
Pension Reform ◽  
Economic Hardship ◽  
Large Majority ◽  
Content Type ◽  
Economic Stimulus ◽  
Vladimir Putin ◽  
Stimulus Package

Subject Prospects for Russian domestic politics in 2019. Significance Although President Vladimir Putin was re-elected with a large majority in 2018, widely held grievances about pension reform and economic hardship present challenges to which the authorities are proving unable or unwilling to respond adequately. Putin's six-year economic stimulus package faces many obstacles and its mid-to-long-term aims mean it cannot deliver a swift political pay-off.

Conditional Conservatism and Firm Investment Efficiency

2010 ◽  
Author(s):  
Juan Manuel García Lara ◽  
Beatriz Garcia Osma ◽  
Fernando Penalva
Keyword(s):  
Investment Efficiency ◽  
Firm Investment ◽  
Conditional Conservatism

scholarly journals Independent directors and corporate investment: evidence from an emerging market

2019 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Quoc Trung Tran
Keyword(s):  
Stock Exchange ◽  
Emerging Market ◽  
Corporate Investment ◽  
Independent Directors ◽  
Investment Efficiency ◽  
Firm Investment ◽  
Full Sample ◽  
Content Type ◽  
Research Findings

Purpose The purpose of this paper is to examine whether independent directors reduce corporate overinvestment and improve investment efficiency in an emerging market. Design/methodology/approach First, the author developed a research model in which corporate investment is a function of Tobin’s Q, the proportion of independent directors in the board and an interaction between them. Second, the author divided the full sample into groups of firms with a low- and high-financial constraint to compare the effects of independent directors between financially unconstrained and constrained firms. Findings With a full sample of 1,281 observations collected from 193 firms listed in Ho Chi Minh Stock Exchange during the period from 2009 to 2017, the author find that the proportion of independent directors is negatively related to firm investment but its interactive term with Tobin’s Q is positively related to corporate investment. These findings imply that independent directors can help firms reduce overinvestment and improve investment efficiency. Moreover, the research findings indicate that these effects of independent directors are stronger for financially constrained firms. Originality/value The extant literature shows that independent directors are an effective mechanism to reduce agency problems in firm decisions and operating performance. However, there has been no research on the role of independent directors in corporate investment policy.

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