Climate change poses manifold consequences to human well-being as well as ecosystems. One of the most widely accepted measures to mitigate climate risks is at the firm level, aiming to reduce carbon dioxide and innovate climate-friendly technology. However, doing so requires comprehensive...

The low quality of human capital leads to the “big but not strong” producer services, which hinders the realization of high-quality economic development in China. Using the China Family Panel Studies (CFPS) and RESSET enterprise data for the period 2000-2019, this paper measures the human...

Central counterparty clearing houses (CCPs) provide risk management for OTC transactions. Using a global sample of sovereign credit default swaps (CDS) issued between 2010 and 2017, this paper analyzes the impact of the global structural shift from over-the-counter to voluntary CCP clearing of...

Terrorism is a major issue in the 21st century. In this paper we examine the effect of terrorism on the stock market. We go beyond previous studies to explore the spectre of terrorism on the market rather than terrorist activities. Using a narrative-based approach á la Shiller (2019), we find...

This study investigates the impact of cryptocurrency mining on the technology sector as mining imposes a strong demand for semiconductor products. I find a positive association between the return of MSCI semiconductor index and the crash of the cryptocurrency market. Moreover, there is a...

The field of Diversity, Equity, and Inclusion (DEI) rises to prominence in recent years among corporate executives and research scholars. Other than its social imperative, many start to question whether diversity relates to a firm’s business and stock performance, so-called the Diversity...

A series of standard and penalized logistic regression models is used for modeling and forecasting Great Recession and COVID-19 recession in the US. These two recessions are scrutinized by taking a close look at the movement of five chosen predictors themselves and their regression coefficients...

This article analyses dispute resolution in China’s Belt and Road Initiative (BRI) from the perspective of the debate on unity, diversity and fragmentation of international law. This article presents a critical perspective that although the BRI preaches unity through greater economic (and...

This study documents that big bath accounting following CEO turnovers is pervasive worldwide and shows that the extent to which CEOs engage in big bath accounting is associated with the degree of discretion they have available in their respective countries. Our analysis is based on a new...