Public enforcement through independent directors

• Main Authors: LI, Xiaoxi, RAO, Pingui, YANG, Yong George, YUE, Heng
• 格式: text
• 語言: English
• 出版: Institutional Knowledge at Singapore Management University 2024
• 主題: comment letters; independent directors; public enforcement; related party transactions; self-dealing; Accounting; Business Law, Public Responsibility, and Ethics; Corporate Finance
• 在線閱讀: https://ink.library.smu.edu.sg/soa_research/2053; https://ink.library.smu.edu.sg/context/soa_research/article/3080/viewcontent/PublicEnforcement_ID_sv.pdf

We examine how public enforcement and private enforcement interact to contain self-dealing activities in emerging markets. Using data from China, we find that firms receiving comment letters concerning related party transactions (RPTs) from stock exchanges significantly reduce their RPTs in subseque...