A recent stream of experimental economics literature studies the factors that contribute to the emergence of financial bubbles. We consider a setting where participants sorted according to their degree of risk aversion trade in experimental asset markets. We show that risk sorting is able to...

We evaluate the financial risk and explore potential motivation of pervasive external guarantee activities. Using a sample of Chinese A-share listed firms during the period from 2008 to 2017, we find a positive association between external guarantees intensity and stock price crash risk. High...

Technology spillovers have previously been shown to positively affect a firm's market value and innovation activities. We build on this literature by showing that value-relevant information from technology spillovers significantly reduces the likelihood of the focal firm experiencing a stock...