Despite the explosive growth of peer-to-peer lending in the People's Republic of China (PRC), information asymmetry remains a critical issue and is likely to be amplified in such an evolving credit market compared to a traditional credit market. This paper studies how investors screen the...

What is the interaction between competition, R&D investments, and the financing choices of R&D-intensive firms? Motivated by existing theories, we hypothesize that as competition increases, R&D-intensive firms will: (1) increase R&D investment relative to assets-in-place that support existing...

This study investigates the strategic disclosure of a downstream firm’s information regarding cost-reducing investment in a vertically related industry. Disclosing information affects an (common) upstream firm’s input price (i.e., vertical strategic effects) and a rival downstream firm’s...