This paper confirms the positive empirical relationship between CAPM-implied target asset betas and bidder announcement returns originally documented by Dessaint et al. (Rev Financ Stud 34(1):1–66, 2021) for U.S. takeover bids. We successfully replicate the main regression results...

Promoting the carbon efficiency is an accepted issue in China's sustainable development against the background of carbon neutrality. In order to help China's resource-exhausted cities overcome their difficulties, the central government has issued an official policy document titled Opinions of...

Promoting the carbon efficiency is an accepted issue in China's sustainable development against the background of carbon neutrality. In order to help China's resource-exhausted cities overcome their difficulties, the central government has issued an official policy document titled Opinions of...

By employing the 2017 reform of China's financial statement presentation as an exogenous shock, we evaluate how the change shapes the likelihood of stock price crashes. Our analysis indicates that firms affected by the reform exhibit notably higher crash risk after the new reporting format is...