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Directors and Officers Liability Insurance and High-Quality Development of Enterprises: From the Perspective of Agency Cost and Innovation Incentive.
- Source :
- Frontiers of Business Research in China; 2022, Vol. 16 Issue 4, p394-411, 18p
- Publication Year :
- 2022
-
Abstract
- High-quality economic development can be achieved if a major strategic direction for China are delivered from the macro level to the micro level. Taking A-listed enterprises in China from 2005 to 2018 as samples, this paper studies the impact of directors and officers liability insurance (D&O insurance) on the highquality enterprise development. The research results show that D&O insurance can promote high-quality development. In addition, the mechanism test shows that D&O insurance can reduce agency costs and improve innovations and high-quality enterprise development. Further analysis shows that when stateowned enterprises including their internal controls has no major defects, D&O insurance has more significant positive impact. Thus, this paper suggests that the insurance should be promoted for realizing high-quality enterprise development. [ABSTRACT FROM AUTHOR]
Details
- Language :
- English
- ISSN :
- 16737326
- Volume :
- 16
- Issue :
- 4
- Database :
- Complementary Index
- Journal :
- Frontiers of Business Research in China
- Publication Type :
- Academic Journal
- Accession number :
- 169990038
- Full Text :
- https://doi.org/10.3868/s070-007-022-0021-9