Using a large multi-country multi-industry sample of over 158,000 companies, the early-stage company sector is documented to have sizable destruction of revenues and jobs and as well as sizable gross creation of revenues and jobs. The creation aspect has captured the dominant attention of...

This paper develops textual sentiment measures for China's stock market by extracting the textual tone of 60 million messages posted on a major online investor forum in China from 2008 to 2018. We conduct sentiment extraction by using both conventional dictionary methods based on customized word...

We identify a model of early-stage company growth persistence. Using seven commercial high growth company lists (either a Top 500 or Top 100 list of companies), we find that approximately 30% of companies remain on these lists two or more consecutive years. This transition probability holds...

In China's labor market, there is a phenomenon that enterprises choose whether to provide "social insurance and housing fund" to laborers autonomously. This paper use micro-data from two leading Internet recruitment platforms and empirically finds that in a labor market with double-side...

We introduce the Realized Exponential GARCH model that can utilize multiple realized volatility measures for the modeling of a return series. The model specifies the dynamic properties of both returns and realized measures, and is characterized by a flexible modeling of the dependence between...

We introduce the Realized Exponential GARCH model that can utilize multiple realized volatility measures for the modeling of a return series. The model specifies the dynamic properties of both returns and realized measures, and is characterized by a flexible modeling of the dependence between...