Zhongnan University of Economics and Law

Share pledge, information advantage, and brokers’ SEO underwriting competition

This study investigates how brokerage firms’ involvement in share pledge transactions affects their competitiveness in underwriting seasoned equity offerings (SEOs). We find that brokerage firms acting as pledgees are more likely to serve as underwriters for issuers whose blockho...

How Government Environmental Targets Shape Firms' Environmental Disclosure Strategy: Evidence From LLM ‐Based Textual Analysis

ABSTRACT High‐quality environmental disclosure is becoming a global baseline as jurisdictions align with International Sustainability Standards Board standards. Prior literature provides mixed evidence on whether regulatory pressure promotes environmental transparency or induces...

Corporate ESG Performance, Green Innovation, and Financial Performance: The Moderating Role of Financial Risk

ABSTRACT In view of China's “dual carbon goals” (carbon neutrality and carbon peaking), the mechanisms and boundary conditions that form the basis of the relationship between corporate environmental, social, and governance (ESG) performance and financial performance have not been...

Institutional shareholder coordination and labour investment efficiency: evidence from the geographic concentration of institutional shareholders

In an era of dispersed ownership, shareholder coordination has become increasingly important. Using a sample of A-share listed firms on the Shanghai and Shenzhen stock exchanges from 2007 to 2022, we empirically investigate the impact of shareholder coordination on labour investm...

Leveraging Deep Reinforcement Learning to Facilitate the Transition from Knowledge Diversity to Knowledge Creation in Construction Project Teams

Abstract Knowledge diversity is essential for innovation in construction project teams, yet translating it into tangible outcomes remains challenging. Traditional management theories and static methods often fail to provide dynamic solutions. This study addresses the issue throug...