This study investigates the role that a firm's internal audit function (IAF) plays in the disclosure of material weaknesses reported under Section 404 of the Sarbanes-Oxley Act of 2002 (U.S. Congress 2002). Using data from 214 firms, we examine the relation between material weakness (MW)...

This study investigates whether measures of internal audit function (IAF) quality and the IAF's contribution to the financial statement audit affect audit delay. We conduct empirical tests using 292 observations from 216 firms that responded to the Institute of Internal Auditor's Global Auditing...

This paper identifies a novel channel of information transfer in a common shareholder (CS) relationship, in which a shareholder of a fund management company (FMC) also has a substantial stake in a listed company held by the FMC. We find that the holdings of common shareholder–connected FMCs...

We examine the stock market responses to two symbolic events in the outbreak of COVID-19: (1) the lockdown of Hubei province; and (2) the containment of the disease in China and its spread to overseas. Overall, market in China responded negatively (positively) to the first (second) event....

The last two decades have witnessed an unprecedented transfer of Western management education theories and pedagogies into China and most Chinese MBA programs are now being modeled on their Western counterparts. To gauge the impact of this infusion of Western methods and theories on China's...

We examine the role of bilateral political relations on cross-border merger and acquisition (M&A) activities. Based on a large sample of cross-border deals during 1990- 2010, we find strong and robust evidence that bilateral political relations have large and significant causal effects on...

This paper identifies information transfer in a common shareholder relationship, in which a shareholder of a fund management company (FMC) also has a large stake in the listed company held by the FMC. We find that mutual funds prefer stocks with common shareholder links. Moreover, the holdings...

We make the first attempt in the literature to empirically examine the spillover effects of U.S. monetary policy on trade in other countries. In a large sector-level bilateral trade dataset of 137 countries for the years 1970-2000, we find strong and robust evidence supporting an international...

It is widely believed that a firm’s social network may affect its market value. Yet there is few empirical evidence supporting this assumption. This paper attempts to address this issue by using the data of Chinese listed firms together with the relevant social network information. The study...