We investigate whether and how government fiscal squeeze affects local firms’ pollution emissions. To establish … causality, we introduce a policy shock in China, namely, the canceling of agricultural taxes in 2005, to document that …%. Mechanism analyses show that local fiscal squeeze result in aggravating pollution emissions through inducing the reduction of …

We investigate the causal impacts of air pollution on analyst forecast accuracy around earnings announcements. Using … the air quality index in analyst workplaces, we provide direct evidence of the following. First, air pollution … inversion and wind force as instruments of air pollution to alleviate endogeneity, thereby establishing causality. Third, our …