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Seminar: Transporting Transparency: Director foreign experience and corporate information environment

Seminar: Transporting Transparency: Director foreign experience and corporate information environment

 

 

Topic:Transporting Transparency: Director foreign experience and corporate information environment

Speaker:Guanmin Liao(Professor of School of Accountancy, Central University of Finance and Economics)

Time:14:30-16:00, May 26(Friday), 2017

Venue:C. S. Lam Conference Room, Lingnan Hall

Language:Chinese

 

Abstract

This paper examines how board directors’ foreign experience affects a firm’s information environment in emerging markets. Using data on publicly traded companies in China and exploiting the adoption of policies to attract emigrants that increases the supply of individuals with foreign experience in different provinces at different times, we document a positive, causal effect of directors’ foreign experience on the informativeness of the firm’s stock price. We examine potential channels, and find that after individuals with foreign experience join the board, earnings transparency increases, and firms are more likely to hire high-quality auditors and to engage in voluntary disclosure. Furthermore, the informational benefit brought by directors with foreign experience spills over to peer firms. These findings provide direct evidence on how board directors help shape corporate transparency in emerging markets.

 

About the speaker:

Liao Guanmin is not only the professor and doctoral supervisor of School of Accountancy, Central University of Finance and Economics but also the national accounting leading (backup) talent and the editorial board member of China Journal of Accounting Studies. His researches has been repeatedly published on Journal of Finance,Journal of Money, Credit and Banking and the like.

 

Biography: /UploadFiles/xsbg/2017/5/201705231552285291.pdf

 

 

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