Purpose - We examine whether the social capital of the area where a firm's headquarters is located affects that firm's credit rating. Given that credit rating agencies only infrequently visit a firm's headquarters, it is pertinent to investigate whether this soft information is considered....

This study examines how the relationships between local governments and local enterprises moderate the effect of targeted monetary policies through different action-propagating mechanisms. First, we investigate the impact of monetary policies on enterprise investment in areas with different...

We find that individual investors tend to trade in the same direction as other individual investors in the same broker branch. The more pronounced an individual investor's herding behavior, the worse she performs in her investments. One explanation that herding investors underperform is the poor...

Trained undercover men and women posed as potential clients and visited all 65 local financial advisory firms in Hong Kong that cater to retail investors. Each auditor was assigned to an “avatar” consisting of a specific combination of attributes. We find that women are more likely than men...

Scientific and technological innovation policies play a critical role in the innovative development of high-technology industrial parks. However, it remains unclear how scientific and technological innovation policies impact the innovation efficiency of high-technology industrial parks and what...

We arranged for trained undercover men and women to pose as potential clients and visit all 65 local financial advisory firms in Hong Kong, China. At financial planning firms, but not at securities firms, women were more likely than men to receive advice to buy only individual or only local...