This paper proposes a semiparametric realized stochastic volatility model by integrating the parametric stochastic volatility model utilizing realized volatility information and the Bayesian nonparametric framework. The flexible framework offered by Bayesian nonparametric mixtures not only...

Using a large sample of Chinese public listed firms from 2014 to 2021, we examine whether firms’ ESG performance inhibits corporate fraud. We find that high ESG performance mitigates corporate fraudulence. After conducting a series of robustness tests, the results remain unchanged. This...

The devastating impact of the climate crisis has led many countries to promulgate regulations that hold businesses accountable for their environmental externalities. However, while these formal constraints compel businesses to fulfill their legal obligations, scholars argue that acting in a...

This study examines public trust in government and public belief in its truthfulness in respect of the measures it takes to combat COVID-19. Analysing global data from the International Coronavirus Survey of 178 countries between 20th March and 8th April 2020, we establish that integrated...