... and considers internal control and government regulation as moderators from an internal–external governance perspective. Design/methodology/approach Based on a 2011–2023 panel of Chinese A-share listed companies, we estimate panel regression models with year and industry fixed effects to identify...

... Research database. Findings This study finds evidence that abnormally long ARL increases the risk of a future stock price crash. Furthermore, the study finds that this adverse consequence is more pronounced for firms with a poor internal control environment. Practical implications Recently...

... Transaction costs Internal control Acquisitions and mergers International investments This study re‐examines empirically two theories on why firms engage in foreign direct investment (FDI). To date, little, or only weak, empirical support exists for the internalisation and transaction cost theories...