Based on theoretical advice and empirical evidence suggesting that risk-taking in asset allocation enhances pension returns, we evaluate empirically whether good corporate governance leads to a larger allocation of pension assets to risky securities as compared to safe investments. Our findings...

This research examines the relationships between government economic policy uncertainty and corporate cash holdings and the value of cash. We find robust evidence that policy uncertainty is positively related to corporate cash holdings due to firms' precautionary motives and investment delays....

This research examines the relations between government economic policy uncertainty and firm cash holdings and the value of cash. We find robust evidence that policy uncertainty is positively related to corporate cash holdings due to firms' precautionary motives and investment delays. Policy...

This research examines the relationship between policy uncertainty and mergers and acquisitions (M&As). We find that policy uncertainty is negatively related to firm acquisitiveness and positively related to the time it takes to complete M&A deals. In addition, policy uncertainty motivates...

We show that firms exposed to the H1N1 and COVID-19 pandemics curtail trade receivable days for their clients but also face shorter payment periods for their own trade payables. Moreover, firms with lower financial flexibility experience a larger decrease in trade credits; however, firms with...

This paper finds the Stock Connect Program of 2014 and the 2018 trade fights between China and the U.S. exacerbate regulatory policy uncertainty, amplify positive gaps in price and trading volume of dual-listed A-H stocks in Shanghai and Hong Kong stock exchanges, and dampen the associated...