This study investigates the effect of media coverage on stock liquidity in the Chinese stock market. Media coverage has a significant positive effect on stock liquidity. Media coverage improves stock liquidity by improving the information environment and reducing adverse selection by investors....

This paper investigates the role of corporate social responsibility (CSR) performance in forecasting companys' stock prices and future returns. The forecasting analysis identifies a negative association between CSR performance and proxies of price delay. The negative CSR–delay association is...

This paper examines the relationships among liquidity, earnings management, and stock expected returns by using a sample of Chinese listed firms to investigate 22,022 firm–year observations from 1998 to 2018. Our study reveals that an increase in stock liquidity is associated with a decrease...

We investigate the role of managerial ability in the relationship between corporate social responsibility (CSR) and firm performance in the energy industry, where sustainability issues are of special interest. We first identify a positive association between CSR and firm value, which, however,...

Confucianism, as an informal system, influences the risk preferences of households and, therefore, affects households' investment behaviours. This study investigates the effects of Confucian culture on household risky assets by using data from the 2016 China Family Panel Studies and using...

In this paper, we examine the use of book-to-market equity (BE/ME) as a determinant of asset correlations in the Basel Accord on regulatory capital requirements. Utilizing an international sample from 38 countries during 1989–2017, we discover that asset correlations, controlling for firm size...

Using the sample of China’s A-share listed companies from 2010 to 2019 and the index of jinshi density to measure the historical imperial examination system, we empirically test the influence of the imperial examination system on corporate social responsibility. We find that the imperial...

To the best of our knowledge, this is the first study to examine the effect of pilot green financial reform and innovation zones on corporate investment efficiency. To this end, we rely on a quasi-natural experiment of China’s introduction of this pilot policy in 2017. Our sample covers...

Research Question/Issue: Executives with a legal background have superior knowledge of the law compared with executives who do not have such a background. This study investigates how executives who are well informed of the law can reduce stock price crash risk and how this is significant from a...

On the basis of the theory developed by Daniel, Hirshleifer, and Subrahmanyam (DHS) (1998), this study examines the influence of information disclosure rating on continuing overreaction and the role and effects of information disclosure rating in emerging markets. Using a comprehensive sample of...