We examine the improvements to forecast accuracy that result from analysts' visits to listed companies. We find that company visits significantly enhance the accuracy of the analysts' earnings forecasts for those companies. The benefit from company visits is more pronounced for companies that...

By using a unique dataset on mutual fund visits to listed firms in China, we investigate whether mutual funds are able to obtain private information or benefit from their communication with firms. Our findings are as follows: 1) such communication significantly increases the subsequent trading...

We examine the causal effects of the coronavirus disease 2019 (COVID-19) on air quality in the context of China. Using the lockdowns in different cities as exogenous shocks, our difference-in-differences (DID) estimations show that lockdown policies significantly reduced air pollution by 12% on...