Long-term auto loans have become increasingly popular in the past decade. We find that consumers use these loans to obtain larger auto loans with lower monthly payments. After controlling for the observed risk factors typically available during the underwriting process, auto loans with...

We examine whether debt covenant violations serve as an important determinant of material weaknesses in internal control over financial reporting. Motivated by the debt covenant hypothesis, we posit that the probability of ineffective internal control is expected to be significantly higher for...

China’s new Labor Contract Law (LCL), which came into force in 2008, has greatly improved the protection of workers and increased the cost of labor. This study investigates its effect on firms’ risk-taking behavior and industrial upgrading. The analysis finds strong and robust evidence that...

China’s new Labor Contract Law (LCL), which came into force in 2008, has greatly improved the protection of workers and increased the cost of labor. This study investigates its effect on firms’ risk-taking behavior and industrial upgrading. The analysis finds strong and robust evidence that...