standard deviation increase in the government trust index, an SME has a 15.2% increase in the standard deviation of their R …&D investments. We further discover that SME owners who are more motivated to conduct innovation will make more R&D investments when … they trust the government, accounting for approximately 29% of the impact of government trust on an SME’s R&D investment …

We examine investors’ mutual fund selection ability in China. Using actively managed equity mutual funds between 2005 … significantly. The findings are robust to several risk-adjusted performance measures. The unique data of China provide separate …, especially for the protection of individual investors regarding mutual fund investing in China. In addition, we show that it is …