This paper examines how institutional investors respond to accounting restatements. We show that transient institutional investors, defined as institutions with shorter investment horizons and higher portfolio turnover, significantly reduce their holdings in a restating firm at least one quarter...

This study investigates the effect of long horizon institutional ownership on CEO career concerns to meet the short-term earnings benchmark by examining the extent to which long horizon institutional investors mitigate the positive relation between CEO turnover and missing the quarterly...

This study examines how institutions respond to insider trade in addition to accounting information. I show that transient institutions defined as those with short investment horizon and high turnover, reduce holdings in the following quarters when insiders are net sellers following earnings...

We investigate the evolution of cooperative behaviors with increasing neighborhood size on diluted lattices. For three typical pairwise game models which include prisoner’s dilemma, snowdrift and stag hunt games, all numerical results indicate that cooperation can persist or emerge around the...

It is well-known that individual diversity is a typical feature within the collective population. To model this kind of characteristics, we propose an evolutionary model of public goods game with two types of players (named as A and B), where players are located on the sites of a square lattice...

This study implies the causality-in-variance test newly developed by Hafner and Herwartz (2006) to investigate the volatility spillovers between domestic equity and bond markets in the G7 and BRICS countries. The empirical result shows that there is ethier unidirectional or bidirectional...