We examine the effect of mandatory environmental, social and governance (ESG) disclosure on firms’ price discovery efficiency around the world. Using data from 40 countries between 2000 and 2019 and a difference-in-difference method, we find that ESG mandatory disclosure increases firm-level...

Using listed firms in China over the period 2010-2018, we investigate the association between directors' network and quality of corporate social responsibility (CSR) disclosure from the lens of resource-based view. We find a significantly positive effect of directors' network centrality on the...

Purpose – The purpose of this research is to empirically analyze the influence of the financial crisis on the investment behavior of sovereign wealth funds (SWFs). Design/methodology/approach – Using 615 deals from 20 SWFs, a series of research are designed and conducted to compare the SWFs'...

Prior theoretical studies (e.g., Harrison and Kreps, 1978) show that investors pay prices over their valuation of assets if potential buyers are willing to pay even more in the future. This study provides supporting evidence by focusing on the Hong Kong "through train" scheme in August 2007,...

Merchant internalization has been proposed as a key reason for biases in the setting of fees in payment card platforms. It has been shown to hold under several specific models of imperfect competition. This paper unifies and extends the existing payment card literature by showing that merchant...

Purpose – The purposes of this paper are to provide first a detailed description of the use of interfirm cooperation by a large sample of Dutch firms of different sizes and from different industries, and second, to examine the governance role of financial managers in the management of...