bonds are the provinces with higher risk premia, or the provinces with greater volatility of risk premia, or the provinces … that have more issued Chengtou bonds. These factors have obvious network spillover effects. The network spillover effects … are not obvious in the provinces with lower risk premia, lower volatility of risk premia and less issued Chengtou bonds …

geographic momentum effects become weaker or insignificant. Further evidence suggests the CF momentum spillover effect is related … documenting a new, strong momentum spillover effect in the China stock markets …