This study examines the abnormal returns of Chinese firms cross-listed on both mainland (A-share) and Hong Kong (H-share) stock markets. The results show that the abnormal returns are larger for the existing H-shares cross-listing back as A-shares in the mainland market (H-to-A listings) than...

Purpose This paper aims to study the impact of CEOs' cultural background on corporate innovation. The paper constructs a measure of CEOs' cultural individualism based on their birthplaces and investigates its relationship with firms' patents and citations. The study aims to shed light on the...

Central banks around the world are exploring and in some cases even piloting Central Bank Digital Currencies (CBDCs). CBDCs promise to realize a broad range of new capabilities, including direct government disbursements to citizens, frictionless consumer payment and money-transfer systems, and a...

This paper reviews economic growth theory in the framework of economic development and explores the possibility of sustained growth in the People's Republic of China (PRC) in the long run. We argue that the PRC has the potential to sustain relatively high growth rates. First, since the...

Using data on birthplaces of 2,065 CEOs and a local measure of cultural individualism based on the westward expansion in American history, I find a positive relation between CEO cultural individualism and corporate innovation. Firms with individualistic CEOs file more patents and receive more...

Central banks around the world are exploring and in some cases even piloting Central Bank Digital Currencies (CBDCs). CBDCs promise to realize a broad range of new capabilities, including direct government disbursements to citizens, frictionless consumer payment and money-transfer systems, and a...