Companies often use non-compete agreements to restrict employees from joining or forming a rival company. However, enforcement of non-compete agreements could also affect executive and director incentives to trade on their inside ownership because excessive trading profits could result in...

This paper studies whether inward FDI deregulation promotes innovation by firms in the host country. A theoretical framework, in which the entry of additional foreign firms is associated with both spillover and competition effects, is built to guide the empirical evaluation. Exploiting data on...

The extant literature offers extensive support for the significant role played by institutions in financial markets, but implicit regulation and monitoring have yet to be examined. This study fills this void in the literature by employing unique Chinese datasets to explore the implicit...

The rapidly expanding digital economy drives the enterprise's digital transformation. This study examines the influence of CEO overconfidence on enterprise digital transformation from a behavioral finance approach. We discovered that (1) CEO overconfidence significantly and positively...

Taking the inflation into consideration and making use of the quarter data of the actual foreign investment, housing and land prices in China from 1998 to 2006, this paper examines the relationship between housing prices and international capital flows using Error Correction Model (ECM) and...

The extant literature offers extensive support for the significant role played by institutions in financial markets, but implicit regulation and monitoring have yet to be examined. This study fills this void in the literature by employing unique Chinese datasets to explore the implicit...

Sector rotation strategy is very important in the equity portfolio management. The paper builds a principal component regression model to design a sector rotation strategy, and uses a four-factor model to evaluate its performance in a frictional market. We concretely analyzes the emerging...