This study uses the multinomial logit model in which comovements are categorized into three outcomes, namely (i) negative comovements, (ii) positive comovements and (iii) no comovements, with the purpose of the empirical analysis being to investigate the economic determinants that affect the...

This paper examines that the impact of firm-specific characteristic on firm capital structure in Chinese-listed companies and attempts to solve a few puzzles existing in previous related studies. The key factors include state ownership, institutional ownership, and the risk of default. From the...

This paper examines that the impact of firm-specific characteristic on firm capital structure in Chinese-listed companies and attempts to solve a few puzzles existing in previous related studies. The key factors include state ownership, institutional ownership, and the risk of default. From the...

The U.S. subprime crisis in 2008 have raised concerns about bank performance and the incentive pay of CEOs. Whether the CEO's incentive compensation improves bank performance deserves further investigation. This research studies the improvement in bank performance by examining the CEO incentive...

This study investigates the impact of the expected and unexpected trading behavior of foreign investors on return volatilities during structural change periods. And the jump intensity model pinpoints crucial events that have influenced the stock market. The empirical results find that there has...