Using hand-collected geographic location data of both blockholders and subsidiaries of all publicly listed firms in China from 2003 to 2019, this paper examines the impact of non-local blockholders (NLBs) on cross-regional investment of firms. We propose that NLBs with information advantage and...

This paper investigates whether insiders exploit the information advantage arising from customer identity concealing to profit from their shares selling. We examine this issue in the context of China given its voluntary nature of customer information disclosure. We find that the profitability of...