This study combines conditional Granger causality and network analysis to examine the interconnectedness in the European sovereign credit default swap (CDS) market. We determine that the network is unstable in the short term and stable in the long term. Further, we visualize dynamic networks and...

We examine whether the implementation of the information disclosure and transparency ranking system (IDTRS) affects frms’ value deviation in Taiwan using the annual reports of the listed companies for the period 2001–2004. Using firms value deviation as a proxy for information disclosure, we...

This study examines the effects of shareholders' trust on managers' bad news hoarding. Using a large sample of listed firms from 33 countries, we find that firms domiciled in countries with higher societal trust have higher stock price crash risk, which indicates that managers may exploit...

The relationship between societal trust and stock price delay is examined across 33 countries for the period from 1985 to 2021. The results showed that societal trust positively impacts investors' perception of information credibility, resulting in a shortened stock price delay. This effect is...

Research question/issue: This study examines whether geographic proximity produces a proximity preference as interlocking frms observe each other and learn innovative behaviors through information transmission among interlocking directors. Research fndings/insights: We study the performance of...

This study examines the impact of crises caused by modern health pandemics on price efficiency, proxied by measures of stock price delay. We analyze 381,688 firm-year observations across 39 countries during six recent pandemic crises: SARS (2003), H1N1 (2009), MERS (2012), Ebola (2014), Zika...

This study examines the formal and informal institutions that affected trade credit during the pandemic periods. To this end, we analyze 590,025 firm-year observations across 107 countries during six recent pandemic crises: SARS (2003), H1N1 (2009), MERS (2012), Ebola (2014), Zika (2016), and...

We investigate the impact of the crises caused by the modern health pandemics on the firm stock price’s risk of crashing. Further, we explore these associations by utilizing a comprehensive cross-country sample of 265,983 firm-year observations, collected from 39 countries during the five...