Showing 1 - 9 of 9
Recently, a large number of empirical studies indicated that individual equity options exhibit a strong factor structure. In this paper, the importance of systematic and idiosyncratic volatility and jump risks on individual equity option pricing is analyzed. First, we propose a new factor...
Persistent link: https://www.econbiz.de/10012173091
What explains huge wage gaps between different hukou and gender groups in China? This paper uses an overlapping generation model with human capital investment and occupational choices to quantify how much wage gaps between these groups can be imputed to two types of talent allocation frictions,...
Persistent link: https://www.econbiz.de/10013454322
The rapid pace of digitalization has given rise to concerns about its influence on job roles. Our findings reveal a substitution effect on accounting employees. This effect is more evident in private firms, firms with higher levels of digital transformation in their accounting departments, firms...
Persistent link: https://www.econbiz.de/10015134115
As outside advisors, independent directors serve as both consultants and monitors. Based on empirical studies of corporate innovation and independent directors, we used data from listed firms in China from 2007 to 2017 to examine the effect of hiring independent technical directors on the board...
Persistent link: https://www.econbiz.de/10012307378
In this study, the impact of business and financial information integration (BFII) on the voluntary management earnings forecasts (VMEFs) of listed firms in China between 2008 and 2018 is investigated. Drawing on litigation cost and ability signaling theories, we find that the adoption of BFII...
Persistent link: https://www.econbiz.de/10012307539
The application of big data technology to global tax management is becoming increasingly widespread. China has been implementing increasingly mature technologies for tax governance using big data systems in recent years. By collecting data through web scraping on the earliest implementation...
Persistent link: https://www.econbiz.de/10015051142
Under the background of Chinese market segmentation, whether government-led administrative division adjustments can promote regional economic integration is a practical issue. Taking interregional firms’ stock price comovement as a micro measurement of regional integration, this paper...
Persistent link: https://www.econbiz.de/10013269681
This study investigates the predictability of a fixed uncertainty index (UI) for realized variances (volatility) in the international stock markets from a high-frequency perspective. We construct a composite UI based on the scaled principal component analysis (s-PCA) method and demonstrate that...
Persistent link: https://www.econbiz.de/10013272632
By manually collecting data on Internet-based rumors concerning COVID-19, we investigate the market reactions to the spread of such rumors and the government's refutation of them. We find that frightening (reassuring) rumors have a negative (positive) impact on investors. The refutation of...
Persistent link: https://www.econbiz.de/10013541679