risk. We find that firms managed by married CEOs are associated with lower future stock price crash risk, after controlling … for a set of firm characteristics and CEO traits. We document that CEO marriage reduces crash risk by curbing bad news … hoarding and formation activities. Moreover, the attenuating impact of CEO marriage on crash risk is more pronounced among …

crisis. The increased cross-market integration has important practical implications for risk management of global equity …

equity capital to the risk-free interest rate. When equity capital falls, bankruptcy risks rise. Firms become more vulnerable …

model incorporating England's and China's distinct pre-modern risk-sharing institutions. The model predicts a transition in … England and not China even with equal levels of risk sharing. Under the clan-based Chinese institution, the relatively risk …We analyze the role of risk-sharing institutions in transitions to modern economies. Transitions requires individual …

Fragen - Klimawandel, Finanzkrisen oder internationale Konflikte - sind ohne eine Zusammenarbeit mit China nicht mehr zu … influence China's foreign relations. What is more, parallel to the economic success story, China's relevance in international … international conflicts, cooperation with China is needed in order to achieve results. The paper takes up several actual issues of …

This paper analyzes the macroeconomic impact of China's 2009-2010 fiscal stimulus package by simulating a dynamic … general equilibrium multi-country model of the world economy, showing that the effects on China's economic activity are … sizeable: absent fiscal stimulus China's GDP would be 2.6 and 0.6 percentage points lower in 2009 and 2010, respectively. The …