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This study examines how maturity mismatch, a specific type of financial structure of firms, affects corporate outward foreign direct investment (OFDI).

Using the number of newly established foreign subsidiaries in a given year as firm-level OFDI and utilizing data from Chinese listed firms between 2007 and 2022, we employ a negative binomial regression model to examine the impact of corporate maturity mismatch on the OFDI. We also make efforts to ensure the robustness of the result, such as employing an exogenous policy to establish a difference-in-difference model.

The empirical result indicates that maturity mismatch inhibits firms' OFDI. Additional test shows that maturity mismatch increases firms' financing costs and reduces firms' research and development (R&D) investment and that the negative impact of maturity mismatch on OFDI is predominantly observed in firms with high financial constraints and low R&D intensity, indicating that maturity mismatch may affect firms' OFDI through the financing cost channel and the R&D investment channel.

Corporate maturity mismatch is common in China and similar emerging markets. However, research on the economic consequences of maturity mismatch, especially its impact on firms' overseas expansions, is rare. This study establishes the relationship between corporate maturity mismatch and OFDI, contributes to the literature on the relationship between financial factors and OFDI, and provides policy implications for emerging market countries.

Most employees are forced to telework due to the COVID-19 pandemic, which brings novel, disruptive, and critical challenges both in work and life. Based on event system theory and equity theory, this research explores how and when forced teleworking event strength (i.e. novelty, disruption, and criticality) affects employees’ work and life-related outcomes.

We conducted two studies to test the hypothesized moderated mediation model (Study 1: an experiment survey, N = 141; Study 2: a time-lagged survey, N = 243) with employees forced to telework from China.

The results largely support our hypotheses. Study 1 indicates that the manipulation of forced teleworking event strength (high vs low) is effective, and the main effect of forced teleworking event strength on work-family conflict is significant. Moreover, Study 2 shows that work-family conflict mediates the relationship between forced teleworking event strength (i.e. novelty, disruption, and criticality) and counterproductive work behavior (CWB). Furthermore, perceived overqualification positively moderates the relationship between work-family conflict and CWB. In detail, the relationship between work-family conflict and CWB becomes stronger when perceived overqualification is higher.

This research provides a new perspective on how forced teleworking event strength impacts CWB and advances the literature on the relevant theories.