We study how social connectedness affected mutual fund manager trading behavior in the first half of 2020. In the first quarter during which the COVID outbreak occurred, fund managers located in or socially connected to COVID hotspots sold more stock holdings compared to a control group of...

As online video platforms (OVPs) prosper, advertisements in videos increase in both quantities and formats. Pre-roll and interpolation are two most popular advertising modes. While preroll disconnects with the content and mandatorily plays before videos, interpolation deeply embeds in the...

"This book constructs a new theoretical framework for understanding contemporary Chinese agricultural production organizations from the perspective of promoting farmers' realization of "substantial freedom" and "feasible ability". The new theoretical framework deepens and expands the theory of...

We test whether and how equity overvaluation affects corporate financing decisions using an ex ante misvaluation measure that filters firm scale and growth prospects from market price. We find that equity issuance and total financing increase with equity overvaluation; but only among overvalued...

We examine the relation between an ex ante measure of IPO growth prospects – the industry-level long-term analyst earnings growth forecast – and short- and long-run IPO returns, using a sample of 7,570 IPOs from 1982 to 2007. The use of an industry-level, rather than firm-level growth...