This article investigates whether, and how, CEO educational background affects Chinese corporate risk-taking. Using a sample of 4681 firm-year observations from 2012 to 2020, we find that CEO educational background is negatively associated with corporate risk-taking. The nonlinear quadratic...

This study investigates how accounting information plays a role in macroeconomy. Decision makers in the economy extract information embedded in aggregate investment, leading to asymmetric uncertainty in their social learnings. Learning asymmetry induces a business cycle asymmetry commonly known...