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Sustainability
Volume 15
Issue 3
10.3390/su15031815
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Article

The Impact of Economic Policy Uncertainty on Executives’ Self-Interest Behaviors: Evidence from China

by
Hong Huang
,
Chang Liu
and
Yuqian He
*
School of Finance and Business, Shanghai Normal University, Shanghai 200234, China
*
Author to whom correspondence should be addressed.
Sustainability 2023, 15(3), 1815; https://doi.org/10.3390/su15031815
Submission received: 17 December 2022 / Revised: 13 January 2023 / Accepted: 16 January 2023 / Published: 18 January 2023
(This article belongs to the Special Issue Corporate Governance, Social Responsibility, Innovation, and Sustainable Business Development Goals)
Versions Notes

Abstract

This paper empirically studies the impact of economic policy uncertainty on executives’ self-interest behaviors, distinguishes explicit self-interest behaviors from implicit ones, and studies the moderating effect of internal control. The results illustrate that rising policy uncertainty will inhibit explicit self-interest behaviors of executives, yet the implicit ones will be encouraged. Internal control can regulate the above effects. Further research proves that the above-mentioned impact is more significant in state-owned enterprises (SOEs). Stable institutional investors and sound market competition can play a certain role in governance. Our paper contributes to the literature on the impact of economic policy uncertainty on corporate governance.
Keywords: uncertainty of economic policy; self-interest behavior of executives; corporate governance uncertainty of economic policy; self-interest behavior of executives; corporate governance

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MDPI and ACS Style

Huang, H.; Liu, C.; He, Y. The Impact of Economic Policy Uncertainty on Executives’ Self-Interest Behaviors: Evidence from China. Sustainability 2023, 15, 1815. https://doi.org/10.3390/su15031815

AMA Style

Huang H, Liu C, He Y. The Impact of Economic Policy Uncertainty on Executives’ Self-Interest Behaviors: Evidence from China. Sustainability. 2023; 15(3):1815. https://doi.org/10.3390/su15031815

Chicago/Turabian Style

Huang, Hong, Chang Liu, and Yuqian He. 2023. "The Impact of Economic Policy Uncertainty on Executives’ Self-Interest Behaviors: Evidence from China" Sustainability 15, no. 3: 1815. https://doi.org/10.3390/su15031815

APA Style

Huang, H., Liu, C., & He, Y. (2023). The Impact of Economic Policy Uncertainty on Executives’ Self-Interest Behaviors: Evidence from China. Sustainability, 15(3), 1815. https://doi.org/10.3390/su15031815

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