require greater risk-taking than more incremental approaches. To understand how managers respond to uncertainty when making … projects. The results suggest that the risk preferences of managers in charge of research investments may have an oversized …

We propose a model where investors hire fund managers to invest either in risky bonds or in riskless assets. Some … managers have superior information on the default probability. Looking at the past performance, investors update beliefs on … their managers and make firing decisions. This leads to career concerns which affect investment decisions, generating a …

We exploit a unique combination of administrative sources and survey data to study the match between firms and managers … determining how firms select and motivate managers. In particular, risk-averse managers are matched with firms that offer low …

This paper investigates how Confucianism affects individual decision making in Taiwan and in China. We found that …

evidence that incentive schemes affect real investment and sheds new light on challenges faced by economic reforms in China …

We advance a novel hypothesis that China's recent anti-corruption campaign may have contributed to the recent … resurgence of the state-owned enterprises (SOEs) in China as an unintended consequence. We explore the nexus between the anti …