Shenghui Tong

TL;DR: In this article, a panel dataset of S&P 500 firms over 1997-2001 indicates that capital structure influences institutional investors9 stock-picking choices, and that dividend yield has a strong negative relation to number of institutional investors, total number of shares of institutional holdings, percentage of institutional ownership, and average number held by each institutional investor.

TL;DR: In this paper, the authors explore how managers view CSR investments and find that only those with especially strong managerial ability are in favor of CSR investment, suggesting that these strongly talented managers perceive CSR as enhancing firm performance.

TL;DR: In this article, the authors provide evidence on the effect of corporate governance on the extent of corporate risk-taking and show that firms with more effective governance exhibit corporate strategies that are significantly less risky.

TL;DR: In this article, the interactions among ownership structure, liquidity, and corporate governance in an important emerging market were examined, and it was found that firms with more concentrated ownership experience significantly lower stock liquidity.

TL;DR: In this article, the authors investigate how independent directors view CSR activities and find that firms forced to raise board independence reduce CSR engagement significantly relative to those not required to increase board independence.