The income velocity of money in China has been declining since the country's reform. By studying the money demand behavior in the agricultural and non-agricultural sectors, we found that the marginal propensity to money demand is much higher in the non-agricultural sector. This implies that as...

Purpose: This paper aims to examine the direct and indirect effects of advertising on investor behavior. Design/methodology/approach: The authors use a novel and direct measure of investor attention: the number of investors whose watch lists has the stock. Findings: The authors find that beyond...

Purpose: This study aims to examine the role of principal–principal (P–P) agency conflict in shaping the information environment of firms in China. Moreover, it investigates whether audit quality and analyst following play any role in moderating the effects of P–P agency conflict....