Xie, Jun
Nozawa, Wataru http://orcid.org/0000-0001-8075-4248
Managi, Shunsuke http://orcid.org/0000-0001-7883-1427
Article History
Received: 26 August 2022
Accepted: 14 March 2023
First Online: 31 March 2023
Competing interests
: The authors declare no competing interests.
: The appropriate legal and ethics review board of Teikoku Databank Ltd. approved the study design. All the methods were performed in accordance with ethical guidelines, and access to unlisted firms’ financial data is under the permission of Teikoku Databank Ltd.
: The data regarding top executives’ credit research was provided with informed consent from all the participants under ethical guidelines in Teikoku Databank Ltd., and personal information is non-identifiable.