Ultra-high dimensional data often display heterogeneity due to either heteroscedastic variance or other forms of non-location-scale covariate effects. To accommodate heterogeneity, we advocate a more general interpretation of sparsity, which assumes that only a small number of covariates...

Based on information asymmetry and embeddedness theory, this paper explores how relational strength reduces the information asymmetry between banks and firms and creates a positive relational spillover for the firms in the network to help private and family firms get good financing performance....