In this study, we investigate the tail dependency between bank stocks in China and 35 common risk factors. We measure univariate and multivariate conditional tail risk probabilities. The evidence indicates that tail events from risk factors in the banking, security trading, real estate, and...

Purpose: The question is whether debt market investors see through managers' attempts to hide their pension obligations. The authors establish a robust relation between understated pension liabilities and corporate bond yield spreads after controlling for factors that have been previously...

This article takes an innovation intermediary perspective to examine farmer cooperative’s (FC) roles in facilitating agricultural innovation and its positioning in the agricultural innovation system (AIS). The article draws experiences from the rapidly emerging FC field in China. Three cases...