We examine IPO underpricing, valuation, and wealth allocation in relation to investor sentiment, information asymmetry, and underwriter reputation. We find that underpricing is significantly higher for overvalued IPOs than for undervalued IPOs, and is positively correlated to investor sentiment....

This paper examines the economic impact of the code-sharing agreement between ATA and Southwest Airlines, the first time Southwest has chosen to enter markets via a code-share alliance rather than direct entry. We examine the impact of complementary code-sharing on incumbent airline's fares and...

This study investigates the impact of headquarters--subsidiary interdependencies on performance evaluation and reward systems in multinational enterprises. Headquarters--subsidiary interdependencies refer to the extent to which headquarters and subsidiaries depend on each other to accomplish...

This paper uses a unique natural experiment in Chinese villages to investigate whether access to telecommunications-- in particular, landline phones -- increases the likelihood of outmigration. By using regional and time variations in the installation of landline phones, the...

A devastating Ms8.0 earthquake struck Wenchuan on May 12, 2008, a historical county in Sichuan Province, southwest China, which affected more than half of China. This article makes a comparative study on the pre-earthquake prevention and post-earthquake reconstruction of 14 world-famous...

Earthquake emergency response and rescue (ERR) is a global challenge, but especially in developing countries. As a large earthquake-prone developing country, China’s experiences and lessons in ERR can provide a useful reference for other developing countries. In this article, China’s ERR...

We report a study designed to test whether visitors to virtual exhibition environments are sensitive to patterns of display covisibility. We show that visitors’ assessment of the clarity of presentation of a pictorial theme is associated with the degree of covisibility of member works. We also...

Skill content varies enormously across industries and over time. This paper shows that import competition can explain a significant portion of the variation in various skill measures across manufacturing industries. Industries that face more intense import competition employ more nonroutine...