In China, large lakes and reservoirs usually span a few administrative areas therefore are co-managed by a multitude of government agencies at different levels. This generates a typical tragedy of the commons problem: water bodies with more administrative areas involved tend to be more polluted...

Traditionally, the relationship between a firm's performance and its business strategy is studied using structured data taken from proxy statements and financial reports. However, there have been increasing efforts to explore the linkages between corporate outcomes and unstructured information,...