This paper comprehensively investigates risk premia in Chinese commodity markets, which are very different from the US markets because of the heavy regulation that attempts to prevent speculation with time-contingent margining and forced liquidation rules, and market participation that is...

This paper studies the impact of having a cadre parent on the labor market performance and channels of the intergenerational transference. Using a recent data set, we find that college graduates with a cadre parent earn a wage premium of 4.46 percent more than those without. They also...

Intuitively, option-like compensation contracts induce risk-shifting behavior, confirmed by numerous empirical studies. However, theoretical work has shown that risk shifting should not happen without a definite expiration date of the option. With a sample of Commodity Trading Advisors (CTAs),...

The asymmetric nature of performance-based compensation in hedge funds introduces a moral hazard problem in which investors bear the negative consequences of fund managers' risk choices. We analyze whether risk shifting by a hedge fund manager is related to the manager's investment strategy and...

Using a survey based on 1,965 enterprise initiations in China, we provide causal evidence that businesses launched in credit-ease years are 7.29% more likely to fail. The result is unlikely to be driven by the “imprinting effect” or the “cohort effect”. Nevertheless, we find the effect...

Many companies utilize real-time feedback applications to facilitate engagement and disseminate employee performance ratings. Yet, dynamics beyond giving and receiving employee feedback, such as seeking and rating feedback, are not well addressed in the literature. In order to fill this gap, we...