The naturalistic driving study (NDS) is an innovative research method characterized by the continuous recording of driving information using advanced instrumentation under real-world driving conditions. NDSs provide opportunities to assess driving risks that are difficult to evaluate using...

This paper constructs a social media network of listed companies and investigates the relationship between the network centrality of the listed companies and stock price synchronicity. The results show that there is a significantly negative relationship between the social network centrality of...

Although recent evidence suggests that individual audit partners explain a substantial portion of thevariation in audit quality proxies, much less is known about what determines an audit partner’s quality. Psychology and behavioral economics theories hold that an individual’s experiences can...

This study investigates auditors’ reputational damage following unfavorable PCAOB inspection reports. While prior studies reach different conclusions on the usefulness of PCAOB reports based on subsequent changes in auditors’ market share (or lack thereof), we posit that a client’s...

Although recent evidence suggests that individual audit partners explain a substantial portion of the variation in audit quality proxies, much less is known about what determines an audit partner’s quality. Psychology and behavioral economics theories hold that an individual’s experiences...

This paper examines the stock market response to the establishment of M&A funds by Chinese listed firms and the investments made by M&A funds. Our results show that the establishment of M&A funds by listed firms in general do not create value. Even after these M&A funds make investments, there...

Using manually compiled cost of equity (COE) estimates disclosed in takeover regulatory filings, this paper provides novel evidence on how investment banks estimate discount rates. Bank COE estimates have a positive but relatively low correlation with rates implied from the CAPM or Fama-French...

This paper reviews some of China’s high frequency economic indicators and our principal findings on their selection and use. Our aim is to develop a composite index of coincident indicators (CEI) which can be used to obtain timely information on the present state of the China’s economy and...