对外经贸蔡欣妮合作文章被金融学顶刊Review of Financial Studies接收

Xinni Cai, Fuxiu Jiang, Jun- koo Kang, Remote Board Meetings and Board Monitoring Effectiveness: Evidence from China, The Review of Financial Studies, 2023;, hhad026, https://doi.org/10.1093/rfs/hhad026

Remote Board Meetings and Board Monitoring Effectiveness: Evidence from China

摘要：Using Chinese data, we examine whether synchronous remote board meetings, which facilitate status equalization among directors and alleviate their pressure for conformity, affect board monitoring effectiveness. We find that compared to face-to-face meetings, synchronous remote meetings are associated with directors’ better meeting attendance behavior, a higher likelihood of director dissent on monitoring-related proposals, higher forced CEO turnover-performance sensitivity, and more effective investments. These results hold when we use remote meetings that include both synchronous and asynchronous remote meetings. Proposal-director level analysis further shows that remote meetings reduce the pressure to conform faced by young first-term directors and socially connected directors.

中文：利用中国的数据，我们研究了同步远程董事会会议是否会影响董事会监督的有效性，因为它有利于董事之间地位的平等化，并减轻他们的服从压力。我们发现，与面对面的会议相比，同步远程会议与董事更好的会议出席行为、董事对监督相关提案提出异议的可能性更高、强迫CEO离职的绩效敏感性更高，以及更有效的投资有关。当我们使用包括同步和异步远程会议的远程会议时，这些结果都是成立的。提案-董事层面的分析进一步表明，远程会议减少了年轻的首任董事和有社会关系的董事所面临的服从压力。