Big data technology may improve the quality of environmental information disclosure and address the challenge of information asymmetry. This study adopts a difference-in-differences strategy to investigate the effectiveness of the big data-based environmental information disclosure system...

For spatial decision-making of real estate developers, they should consider residential stratification of people with different income which affect housing price spatially. Because of the minimum size when buying a house, there are mixed stratification and people called “rigid demanders”...

It remains an open question whether the reduction of external technology dependence (ETD) on foreign countries can improve the total factor productivity (TFP) of China's manufacturing industry. This paper uses the data of China's manufacturing industry from 2000 to 2016, to study the impact of...

The relationship between societal trust and stock price delay is examined across 33 countries for the period from 1985 to 2021. The results showed that societal trust positively impacts investors' perception of information credibility, resulting in a shortened stock price delay. This effect is...

This study considers the impact of broadband infrastructure construction on household inequality of opportunity. Based on the "circumstance-effort" framework, we estimate the inequality of opportunity index, and we utilize China's household survey data. To identify this effect, we consider the...

We study how derivatives (with nonlinear payoffs) affect the liquidity of the underlying asset. In a rational expectations equilibrium, informed investors expect low conditional volatility and sell derivatives to the others. These derivative trades affect investors’ utility differently,...