Weiping Li, Huirong Li, Xuan Sean Sun and Tairan Kevin Huang
The purpose of this paper is to examine the impact of directors’ and officers’ liability insurance (D&O insurance hereafter) on corporate governance and firm performance, with a…
Abstract
Purpose
The purpose of this paper is to examine the impact of directors’ and officers’ liability insurance (D&O insurance hereafter) on corporate governance and firm performance, with a specific focus on investment efficiency.
Design/methodology/approach
Using a sample of Chinese A-share listed firms from the period 2007 to 2020, this study uses Ordinary Least Squares regressions to investigate the research questions, as well as moderating and mediating effects. Additionally, alternative measures of investment efficiency are used, and the Heckman two-stage model and propensity score matching model are used to demonstrate the consistency of the findings and to mitigate the risk of endogeneity.
Findings
The findings of this study suggest that purchasing D&O insurance has a detrimental impact on corporate investment efficiency, particularly in the context of over-investment activities; robust internal governance mechanisms, exemplified by a higher shareholding ratio of the top shareholder and enhanced internal control quality, alleviate this negative effect; and financing constraints act as a mediating factor in the association between D&O insurance and investment efficiency.
Originality/value
Corporate investment efficiency is of significant importance for both national macroeconomic growth and micro-enterprise development. Notably, the prevalence of D&O insurance among Chinese firms is progressively increasing, thus exerting a growing influence. This study contributes to the existing literature on D&O insurance and corporate investment efficiency, providing valuable insights into the economic impact of D&O insurance on Chinese firms. The empirical evidence presented herein facilitates future reforms and adjustments.
Details
Keywords
Jin Cui, Tairan Kevin Huang, Corinne Cortese and Matthew Pepper
The purpose of this paper is to identify and evaluate faculty and academic staff perceptions, experiences and expectations with respect to a voluntary, bilingual peer assisted…
Abstract
Purpose
The purpose of this paper is to identify and evaluate faculty and academic staff perceptions, experiences and expectations with respect to a voluntary, bilingual peer assisted learning (PAL) program, which operates for the benefit of students studying in the Faculty of Business at a regional Australian University.
Design/methodology/approach
A survey instrument and semi-structured interviews were used to faculty executive and academic staff in order to collect information about the perceived benefits of the program and identify opportunities for improvement.
Findings
Based on an analysis of student results, the bilingual PAL program is shown to have a positive effect on performance of students participating in the program. Results from interviews with executive and academic staff indicate a high level of support for this type of student learning program.
Originality/value
Although the value of both bilingual teaching and PAL has been explored in the teaching and learning literature, few studies have examined the integration of these two approaches. This research contributes to the literature by exploring the practical contribution of integrating these approaches. This research also provides valuable information regarding executive and academic perceptions of PAL programs, which is infrequently addressed in the literature. Findings may be used to inform institutions of the value of bilingual PAL programs in relation to international student retention and learning support and provide a starting point for discussions around the practical implications of such programs.