This paper studies stylized models of multi-unit uniform-price dynamic auctions and posted price, two selling mechanisms popular with peer-to-peer lending platforms, in a setup with common value and independent private signals. The models have two novel features: an "All-or-None" transaction...

Though haggling has been the conventional way for auto retailers to sell cars, the last two decades have witnessed the systematic adoption of no-haggle prices by many large dealerships, including the largest new car and used car dealership chains. This paper develops a structural empirical model...

Purpose: This paper aims to investigate the impact of executives’ self-interested behaviors induced by the pay bandwagon on stock price crash risk in Chinese listed firms and attempt to shed light on the influencing channels of this effect. Design/methodology/approach: The empirical analysis...

This paper proposes a new dividend-based S&P 500 Index return predictor, the implied dividend yield term structure (IDYTS). We show that the IDYTS is a “cleaner” predictor than its conventional counterpart, the dividend price ratio (DP), in that the expected return is a linear combination...

We have investigated the effects of substrate topography on the nucleation and growth behavior of 321 stainless steel (ss) films, introducing textured surfaces into mica substrates by the abrasion treatment. In this study, two groups of samples were prepared at three different sputtering time...

Purpose From the perspective of top management heterogeneity, this paper aims to study the impact of the psychological traits of executive pay bandwagon on earnings management in the listed companies of China. Design/methodology/approach This paper applies the ratio of executive pay to the...

Current academic and policy debates focus on the impact of tort reforms on physicians' behavior and medical costs. This paper examines whether these reforms also affect incentives to develop new technologies. We find that, on average, laws that limit the liability exposure of healthcare...

Current academic and policy debates focus on the impact of tort reforms on physicians' behavior and medical costs. This paper examines whether these reforms also affect incentives to develop new technologies. We find that, on average, laws that limit the liability exposure of healthcare...