This paper examines the value of political connections in the Chinese IPO market. We find a positive relationship between CEO/chairman's political connections and the probability of IPO approval of entrepreneurial firms. We further identify that minority shareholders value those connections and...

This paper examines the impact of conditional order usage on the disposition effect. Taking advantage of proprietary Australian stock brokerage data, we employ the propensity score method to create a control group. This methodology enables us to isolate the impact of conditional orders from...

This paper explores the puzzle of inconsistent findings in regard to bank lending decisions and the negative response to bank loan announcements in China. Using firm performance before and after the lending decisions, adjusted for the effects of earnings management, we are able to examine not...

This paper examines anonymity effects on liquidity migration of cross-listed stocks using a natural experiment created by the staggered move to anonymity regime undertaken by ASX and NZX. The 2SLS instrumental variable estimation shows two interesting trends. When considering liquidity impact on...