This article focuses on the relationship between Fintech and bank risk-taking behavior. Since Robo-Advisor is one of the mature applications of Fintech, we found that the development of Fintech will have a greater impact on small and medium-sized banks through the establishment of a Robo-Advisor...

Compared to US stocks, Chinese stocks earn most of the returns during the day. We extend previous findings by Qiao and Dam (2020) arguing that the absence of day trading in the Chinese stock markets explains these differences and argue that these differences reflect an illiquidity premium. We...

We examine whether Confucianism surrounding corporate headquarters affects informed insider trading. We empirically show that insiders in firms headquartered in regions with higher levels of Confucianism profit more in sales but not in purchases. We further investigate the cross-sectional...