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Board directors with foreign experience and asset-liability maturity mismatches

Author

Listed:
  • Yan, Jiajie
  • Shi, Qing
  • Zhou, Zihao
  • Liu, Jiapeng

Abstract

Using a sample of Chinese listed companies from 2007 to 2022, this paper examines the effect of board directors with foreign experience (BDFEs) on firms’ asset–liability maturity mismatches. The empirical results show that BDFEs are associated with lower levels of asset–liability maturity mismatches. This negative relationship remains robust after a series of robustness checks and endogeneity tests. Agency conflict and information asymmetry are potential channels through which BDFEs affect asset–liability maturity mismatches. Overall, our findings offer empirical support for the role of BDFEs in improving corporate governance.

Suggested Citation

  • Yan, Jiajie & Shi, Qing & Zhou, Zihao & Liu, Jiapeng, 2026. "Board directors with foreign experience and asset-liability maturity mismatches," Finance Research Letters, Elsevier, vol. 102(C).
    • Handle: RePEc:eee:finlet:v:102:y:2026:i:c:s1544612326005799
    DOI: 10.1016/j.frl.2026.110050
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    Keywords

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    JEL classification:

    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity

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