Knowledge management strategies (KMSs) and intellectual capital have received widespread attention due to their important contribution to the growth of ambidextrous innovation capability (AIC). Yet, there is still a relative paucity of empirical research on the associations between KMSs,...

The present research investigates the relationship between managers’ disclosure tone andthe trading volume of small and large investors separately. The inconsistency of disclosure tone and abnormal trading volume generally indicates information asymmetry between managers and investors....