Using a director-level dataset of board proposal voting by independent directors of public companies in China from 2004 to 2009,we analyze the effects of ca
An oft-cited premise for why diverse societies,be it ethnic,linguistic or religious,can grow faster than homogeneous ones is that they bring about diverse o
The aversion to future regret has been proposed as an explanation for many puzzles in both economics and finance.Yet very few studies(particularly outside o
We examine the financial health and performance of reverse mergers(RMs)that became active on U.S.stock markets between 2001 and 2010,particularly those from
This paper explicitly separates word-of-mouth communication from observational learning in analyzing stock market participation decision.We achieve such sep
Does asymmetric information affect a stocks expected return? Using stock-level daily institutional ownership percentage data from the Shanghai Stock Exchang
We investigate whether behavioral biases affect the order submission strategies of investors.We take advantage of a very unique database provided by the Sha
Using a quasi-natural experiment that mandates a subset of listed firms to issue corporate social responsibility(CSR)reports,this paper examines the effect