The paper investigates the intergenerational transmission of divorce in China with the data from The China Health and Retirement Longitudinal Study (CHARLS). The empirical results show that parental divorce increases the odd ratio of children's divorce significantly by 104.12% in complementary...

Using non-agency securitization data consisting of mortgages originated between 1991 and 2007, we find that fraction of defaulted mortgages increases from 10.8% in the pre-crisis period (July 2007) to 19.6% in the post crisis period (July 2009). This paper then applies a split population hazard...

Different from prior research that studies weather related factors on equity returns from a behavioral perspective, we investigate air quality on stock returns from a risk perspective using Chinese data. When air-quality risk increases, it not only depresses economic activities of firms but also...

Using a large proprietary IPO bidding dataset from China, we examine whether there is information production in auctioned IPOs in which uniform price applies and the underwriter has no allocation discretion. Our IPO-level and IPO-bidder-level analyses suggest that institutions bid in IPO...

Using non-agency securitization data consisting of mortgages originated between 1991 and 2007, we find that fraction of defaulted mortgages increases from 10.8% in the pre-crisis period (July 2007) to 19.6% in the post crisis period (July 2009). This paper then applies a split population hazard...

This study examines two questions relating to the banking market structure. First, does the banking market structure influence banks' decisions to originate new single-family home mortgages? Second, does the banking market concentration affect mortgage default risks? Using a two-stage approach...