Purpose The purpose of this paper is to estimate the effects of liquidity on corporate bond spreads. Design/methodology/approach Using a systematic liquidity factor extracted from the yield spreads between on- and off-the-run Treasury issues as a state variable, the authors jointly estimate the...

Purpose – The purpose of this paper is to examine positive‐feedback (PF) behavior and its relationship to momentum profitability and information uncertainty. Design/methodology/approach – Using the behavioral function of rational traders and feedback traders, the authors jointly estimate...

Purpose – It is widely accepted that good health and education are important components of human capability. Although China has made encouraging progress in education and health causes, the role of poor health as an intervening factor in education has not been fully recognized. Iron deficiency...