With psychological experiments, we found that whenever stock price goes up or goes down continuously, gambler's fallacy will dominate hot-hand effect in investor's information process to serial changing stock price. When stock price goes up continuously, the longer the price up, the larger is...

Emotion is always important, although many factors are used to explain the up and drop of capital market. Through psychological experiment, we could search the pure relation between emotion and trading behavior, controlling and removing other factors, and the results tell us about the origin of...

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...

As firms focus on new product, process, and service innovations, improving the performance and productivity of projects that help deliver these innovations assumes greater importance. Information technology (IT) has been an enabler of manufacturing productivity improvement, but its effect on...