We test the predictability of eighteen stock return predictors, including classic factors such as firm size, book-to-market, and momentum, along with other proposed predictors from firm-specific, corporate investment, financing, and stock characteristic anomalies. These predictors have power to...

Purpose – There has been significant interest in the classification of exchange rate regimes in order to investigate a wide range of hypotheses. Studies of the effects of exchange rate regimes on crises and other aspects of economic performance can have important implications for policy...

Global Corporate Finance: A Focused Approach introduces students to basic principles of international corporate finance. The book stresses practical applications in a user-friendly format and is hence suitable for both undergraduate and graduate level courses in international finance. A...

Using a carefully hand–collected sample of 104 corporate bailouts from around the world, we empirically study corporate bailouts at the firm level. We classify corporate bailouts into different types and find some bailed–out firms recover better than others. First, firms that experience...

This paper surveys corporate governance in China, as described in a growing literature published in top journals. Unlike the classical vertical agency problems in Western countries, the dominant agency problem in China is the horizontal agency conflict between controlling and minority...

We study whether the threat of exit by institutional investors can induce firms to voluntarily disclose their environmental policies. To address concerns about reverse causality and omitted variables, we implement a fuzzy regression discontinuity design to conduct our empirical tests. The...

Note: This is a description of the paper, not the abstract. Previous research finds that the Japanese term structure of interest rates, as defined by the long-term interest rate minus the short-term interest rate, fails to predict future Japanese economic activity, as defined by changes in GDP....

We study whether research and development (R&D)-intensive Chinese firms were more resilient during the 2018–2019 U.S.-China trade war. Using an event study, we confirm that (unsurprisingly) Chinese exporting firms that were most affected by the new U.S. tariffs suffered larger valuation...