In a platform-based supply chain, an online platform can act as a reseller (R) or a marketplace (A) for the manufacturer. Under each selling format, sales services can be provided by the manufacturer (M) or the platform (I). Besides, facing the problem of counterfeits and consumer mistrust, the...

This paper presents a comprehensive empirical examination of the foreign exposure effect on Japanese corporations and sectors. We provide compelling evidence that, after controlling for marketwide movements, the exposure effect on Japanese corporations' stock returns is both statistically and...

Previous research has shown that acquirers' M&A announcement effects, on average, become significantly positive if loan financing is involved. We find that when advisors lend to their advised acquirers during M&A deals, the syndicated loan spreads are unusually high, and the advisor-lender dual...