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Abstract Directors' liability insurance (DI) was a hot issue of corporate governance. Based on the Chinese listed companies from 2006 to 2015, the relationships between DI and the corporate innovation and the path of DI to play its function were tested. The results showed there wasn't significant effect on innovation when DI worked as an independent mechanism; But the governance function of DI was activated by the characteristics of the board; The results showed that DI couldn't promote the companies' innovation, and the results supported the opportunism hypothesis.
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| Fund:山东省社会科学基金项目（15CJJJ16） |
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