Rongwu Zhang
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View article: Does ESG performance inhibit or promote herding behavior of institutional investors?
Does ESG performance inhibit or promote herding behavior of institutional investors? Open
In recent years, environmental, social, and governance (ESG) issues have attracted much attention in the capital market. As the herding behavior of institutional investors is a prominent phenomenon in the capital market, it is of great val…
View article: Does hometown connection between chairmen and CEOs improve compensation–performance sensitivity in China?
Does hometown connection between chairmen and CEOs improve compensation–performance sensitivity in China? Open
Based on a the micro dataset set of private Chinese-listed companies, this study examines the in detail the impact of hometown connections between chief executive officers (CEOs) and chairmen on CEO compensation–performance sensitivity. Th…
View article: Capital market opening and corporate environmental performance: Empirical evidence from China
Capital market opening and corporate environmental performance: Empirical evidence from China Open
This study investigates the impact of capital market opening on corporate environmental performance (CEP), using Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect as quasi-natural experiments. We find that capital marke…
View article: Shareholder personal risk and firm risk: An empirical analysis of share pledges and firm debt policies
Shareholder personal risk and firm risk: An empirical analysis of share pledges and firm debt policies Open
The impact of personal risk caused by controlling shareholders' equity pledges on the company's debt policy is an issue worth exploring. Using Chinese A-share listed companies from 2006 to 2020, this paper studies the impact of ultimate ow…
View article: Multiple large shareholders and corporate environmental performance
Multiple large shareholders and corporate environmental performance Open
This study investigates the determinative effect of multiple large shareholders on corporate environmental performance (CEP). We take China's A-share listed firms from 2009 to 2019 as samples and find that multiple large shareholders can i…
View article: Can Digital Economy Promote Energy Conservation and Emission Reduction in Heavily Polluting Enterprises? Empirical Evidence from China
Can Digital Economy Promote Energy Conservation and Emission Reduction in Heavily Polluting Enterprises? Empirical Evidence from China Open
This paper examines the impact of digital economy on corporate energy conservation and emission reduction (CECER) using China’s A-share listed heavily polluting enterprises from 2012 to 2019 as a sample. Our results show that: (1) Digital …
View article: Can Digitalization Levels Affect Agricultural Total Factor Productivity? Evidence From China
Can Digitalization Levels Affect Agricultural Total Factor Productivity? Evidence From China Open
The agricultural sector faces a food crisis and major challenges in green and sustainable development, and digital technology is an important countermeasure. In this paper, “digital technology” is used as a keyword to construct a regional …
View article: Will the Governance of Non-State Shareholders Inhibit Corporate Social Responsibility Performance? Evidence from the Mixed-Ownership Reform of China’s State-Owned Enterprises
Will the Governance of Non-State Shareholders Inhibit Corporate Social Responsibility Performance? Evidence from the Mixed-Ownership Reform of China’s State-Owned Enterprises Open
Fulfilling social responsibilities in order to sustain development has increasingly become a strategic choice for companies. Good corporate governance can guarantee high corporate social responsibility performance. This paper selects state…