Is the strength of favoritism from social ties gender-dependent? Collecting election data of the most distinguished Chinese scientific academies over a decade, we find favoritism from some social connections, such as sharing a hometown, college, or employer, between recruiters and candidates can...

Is the strength of favoritism from social ties gender-dependent? Collecting election data of the most distinguished Chinese scientific academies over a decade, we find favoritism from some social connections, such as sharing a hometown, college, or employer, between recruiters and candidates can...

Why do listed firms herd to repurchase shares? Analyzing complete repurchase records from the Chinese stock market from 2005 to 2021, we discover that firms aiming to boost stock prices through repurchasing shares drive the tendency for peers to also make repurchasing announcements. The positive...

Is the strength of favoritism from social ties gender-dependent? Collecting election data of the most distinguished Chinese scientific academies over a decade, we find favoritism from some social connections, such as sharing a hometown, college, or employer, between recruiters and candidates can...

Using high-frequency intraday trading and quoting data, we study the temporal effects in index credit default swap (CDS) trading and liquidity. We find strong intraday variations in index CDS trading activities and liquidity. Unlike the U-shaped pattern in the equity market, index CDSs exhibit a...

This study investigates the effects of political uncertainty (PU) on corporate debt maturity and leverage using a novel measure of firm-specific PU. We find that PU is negatively associated with debt maturity and leverage. Furthermore, the negative effects of PU on debt maturity and leverage are...

We augment a simple inventory model with new features of the post-crisis regulations to offer new predictions on the effects of post-crisis regulations on the over-the-counter markets. First, the increased capital requirements of Basel III lead to an overall increase in order rejection rates of...