Using a difference-in-difference-in-differences (DDD) strategy, we study the effects of simultaneous water and air pollution regulations on firms' emission behaviors and explore the driving forces behind their responses. We show that in China's eleventh Five-Year Plan (FYP), there exists a...

We examine the impact of air pollution on pricing efficiency in primary markets and its underlying mechanisms. Our findings suggest that IPO pricing efficiency decreases when air pollution is more severe in cities where bidding investors are located. Mechanism tests show that air pollution...