We evaluate the treatment effect of inflation targeting in thirteen developing countries that have adopted this policy by the end of 2004. Using a variety of propensity score matching methods, we show that, on average, inflation targeting has large and significant effects on lowering both...

We evaluate the treatment effect of inflation targeting in seven industrial countries that adopted this policy in the 1990s. To address the self-selection problem of policy adoption, we make use of a variety of propensity score matching methods recently developed in the treatment effect...

This paper examines the influence of regional economic development on mutual funds investment decisions. Using fund holdings from 2003 to 2008, we find that Chinese mutual funds that collectively reside in the developed coastal region have the ability to select 'star' firms from neighboring...

We examine the stock market responses to two symbolic events in the outbreak of COVID-19: (1) the lockdown of Hubei province; and (2) the containment of the disease in China and its spread to overseas. Overall, market in China responded negatively (positively) to the first (second) event....

Emotion is always important, although many factors are used to explain the up and drop of capital market. Through psychological experiment, we could search the pure relation between emotion and trading behavior, controlling and removing other factors, and the results tell us about the origin of...

This book is about how Chinese entrepreneurs deal with China's most important institution-the government-in their struggle to survive and even prosper in China's transitional economy. It takes an "inside look" at several private firms in China and provides a first-hand account, as well as the...

With psychological experiments, we found that whenever stock price goes up or goes down continuously, gambler's fallacy will dominate hot-hand effect in investor's information process to serial changing stock price. When stock price goes up continuously, the longer the price up, the larger is...

A process dissociation procedure was used to examine the gender differences in the controlled and automatic processing of the brands with the spokes-character of different gender. The results showed that: (1) male consumers elicited significantly higher automatic processing level than female as...

We examine the role of bilateral political relations on cross-border merger and acquisition (M&A) activities. Based on a large sample of cross-border deals during 1990- 2010, we find strong and robust evidence that bilateral political relations have large and significant causal effects on...