In this study we investigate how organization capital interacts with organizational capital volatility to affect the cost of debt. Based on the analysis of a large sample of U.S. bank loan contracts between 1990 and 2018, we use an exogenous shock to talent mobility (the adoption of Inevitable...

We examine the impact of mutual fund ownership on stock price informativeness in China. Existing evidence shows that stock price informativeness is low in China, and attributes this to firms’ lack of disclosure incentives under the weak investor protection institutional environment. Mutual...

This paper examines the role of mutual funds in enhancing financial reporting quality in China. Mutual funds are more sophisticated and influential than individual investors. Therefore, they are expected to be more effective at preventing executives from expropriating investors and manipulating...