This article investigates China's knowledge disparity and its association with economic inequality, an issue little attended in Chinese regional studies. It focuses on the 1990s, the period when the economic reform and open door policy started to have their full impact on all aspects of social...

Trading outside the main session occurs between 4:00PM-8:00PM and 4:00AM-9:30AM and is typically dominated by institutional investors, as retail investors are discouraged to trade in the extended trading hours. This study examines whether trading in the extended hours is predictive of future...

This study examines the value relevance of the timing of earnings announcement dates relative to prior expectations. It shows that when firms advance their earnings announcements at least four days prior to expectations, the earnings surprises in those quarters tend to be positive and the...

A vast literature has documented an optimistic bias of U.S. analysts. This study compares the optimistic bias of U.S. analysts to that of foreign analysts. Using the implied rate of return in target prices, i.e., the ratio of the target price to the stock price one day before the target price...