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Audit quality is thought to occur primarily due to litigation pressure. We report results from a study conducted in a low litigation environment (China) where a Big 4 audit firm (Deloitte) failed to detect a fraud involving a public company (Kelon). We find that Deloitte’s clients have...
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Using terrorist attacks as an exogenous source driving psychological changes in managerial sentiment, we explore the causal effect of managerial sentiment on firms’ cost stickiness. We find that firms located in the attacked metropolitan areas experienced a significant decline in cost...
Persistent link: https://www.econbiz.de/10014263183
A special feature of China’s housing market is land use rights in the form of land leasehold contracts granted by the government. We consider an equilibrium model in which a representative developer may choose to redevelop existing centrally located housing or to develop new housing at the...
Persistent link: https://www.econbiz.de/10011056719
This study examines the effect of geographic scope in mitigating the adverse impact of the COVID-19 pandemic in the real estate sector. Utilizing the Chinese setting over the two-month period in 2020 from the beginning of the outbreak to the successful containment of the spread of virus, we show...
Persistent link: https://www.econbiz.de/10013200993
This paper utilizes timely proprietary data to examine the contemporary impact of the COVID-19 pandemic on commercial property rent dynamics in the Asia-Pacific region. Given that the Asia-Pacific region was the first to be impacted by the public health crisis, it is important to examine how the...
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