We examine how Confucian culture, a cornerstone of traditional Chinese culture that profoundly influences Asian countries, affects hedge funds. Using a sample of 9,120 Chinese hedge funds that cover the period from April 2010 to December 2022, we find that hedge funds with a stronger Confucian...

During the 2015 stock market crisis, the Chinese government used hundreds of billions of dollars to purchase shares directly in the secondary market. We find that, compared with un-rescued firms, rescued firms have significantly lower liquidity after the rescue. Policy uncertainty about...

Most risk mitigation activities involve technological uncertainty (TU) because their effectiveness depends on exogenous factors beyond the decision-maker's control or due to the decision-maker's incomplete knowledge about the associated benefits. We provide a systematic assessment of the effects...

Medium chain fatty acids (MCFAs), the secondary products of traditional anaerobic fermentation, can be produced via chain elongation (CE), a process often retarded due to the difficulty during interspecies electron transfer (IET). This study employed redox mediators, neutral red (NR), methyl...

We discuss the behavioral and welfare implications of uncovering the causal mechanism of prevention. We introduce the concept of technological transparency (TT) - the extent to which scientific knowledge reveals the mechanism of prevention. While TT improves welfare through more efficient...

After staggered mandatory interactions between Chinese listed firms and individual investors, which only allow listed firms to explain existing information, exogenously enhance individual investors’ information processing, our difference-in-differences analysis shows that these firms...