The CDS Big Bang introduced two standard coupons for CDS trading. We exploit the setting of the two standard coupons as a natural experiment to quantify the components of the bid-ask spreads in over-the-counter markets. We find that a significant portion of the difference in the bid-ask spread...

This paper investigates whether venture-backed investments in clean technologies support carbon neutrality. Using Pitchbook’s data on more than 65,000 venture capital investments in 110 countries from 2011 to 2022, we document that venture-backed investments in clean technologies increase both...

This paper develops a systemic risk index for China (SRIC) using textual information from 26 leading newspapers in China. Our index measures the systematic risk from 21 topics relating to China’s economy and provides narratives of the sources of systemic risk. We examine the predictability of...

Purpose Currently, rehabilitation medical care is expensive, requires a large number of rehabilitation therapist and which can only limit in the fixed location. In addition, there is a lack of research on the structure optimization and theoretical analysis of soft actuators for hand...