Uncertainty shocks propagate within the network of Chinese institutions. While uncertainty can bear both positive or negative impact, the propagation focuses on "bad" uncertainty, which is propagated largely from institution with a large market value. However, both "bad" and "good" uncertainty...

Corporate political connections (CPCs)—ties that firms forge with political actors—directly affect firms, political actors, and various stakeholders in societies. This topic has been studied extensively in multiple disciplines including management, economics and finance, political science,...

This paper explores the impact of political network on insider trading activities in China. With a comprehensive network mapping links between politicians and firm Chairmen, we find that stronger political network discourages insider trading. Such effect is stronger among long-standing,...

We develop and estimate a theory-consistent gravity model for interregional migration flows in the presence of unemployment. Micro-founded in a setting where search friction regulates labor market transitions, we derive a migration gravity equation for bilateral mobility that embodies a...

This Article describes and comments on criminal insider trading prosecutions brought over an eleven-year period. The core common element among these cases is that they all involve alleged tipper/tippee insider trading or misappropriation insider trading implicating information transfers between...

How do political connections affect firm dynamics, innovation, and creative destruction? We extend a Schumpeterian growth model with political connections that help firms ease their bureaucratic and regulatory burden. The model highlights how political connections influence an economy's business...

This chapter surveys recent literature on social networks and labour markets, with a specific focus on developing countries. It reviews existing research, in particular, on the use of social networks for hiring and the consequences of networks for on-the-job outcomes, including emerging...

We study a behaviorally heterogeneous society where public goods provision and access are local and selfish agents co-habit with Kantian counterparts. Contrary to standard public goods games over complete networks, Kantian imperatives are not necessarily beneficial when the underlying graph...