We document a housing wealth effect on the stock liquidity of local firms. We first demonstrate that the heterogeneity of homeownership rates across geographical areas can explain variations in the impact that changes in house prices have on local stock liquidity. We then show, consistent with...

We examine if differences in short selling volumes and the information impounded by short sells can contribute to explaining pricing differences which exist between the A- and H-share markets in China. In particular, we argue and also find that informed short selling around earnings...

We examine the impact of cross-listing on firm-specific information utilizing the unique features of the Chinese capital markets. By separating the trading activity of domestic Chinese investors from that of foreign non-Chinese investors, we are able to isolate each investor group's relative...

We investigate how a consumer protection law can exacerbate firms’ agency issues. Our analysis focuses on the staggered adoption of state-level data breach notification laws that require firms to disclose data breaches. We find that the enactment of these laws leads to a rise in stock price...

Shared appreciation mortgages (SAMs) realign traditional incentives in the lender-borrower relationship by substituting future capital gains for interest income. This makes them a potentially innovative solution to affordability and other homeownership crises. Taxation and regulatory barriers...

This paper examines the importance of legal rights and enforcement in influencing property-casualty insurance consumption. We extend the existing literature by examining the role both legal and political factors have on determining insurance density across countries. Also, measures of risk...