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This study investigates the impact of rookie independent directors (RIDs) on agency costs. Utilizing a sample of Chinese listed firms, we employ panel ordinary least square estimations. Our findings reveal that increased RIDs is positively associated with agency costs, suggesting that rookie independent directors may exacerbate agency conflicts wit...
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Context 1
... is well-suited for panel data analysis, allowing researchers to control for unobserved heterogeneity and time-invariant factors [57]. Table 2 provides descriptive statistics for the key variables in our study, shedding light on their central tendencies and variations within the sample of 29,600 observations. All variables underwent winsorization at the 1st percentile at both ends to mitigate the influence of outliers. ...