Using a field experiment in China, we study whether migration status is correlated with attitudes toward risk, ambiguity, and competitiveness. Our subjects include migrants and non-migrants. We find that, migrants exhibit no differences from non-migrants in risk and ambiguity preferences...

Using a field experiment in China, we study whether migration status is correlated with attitudes toward risk, ambiguity, and competitiveness. Our subjects include migrants and non-migrants. We find that, migrants exhibit no differences from non-migrants in risk and ambiguity preferences...

Using a field experiment in China, we study whether migration status is correlated with attitudes toward risk, ambiguity, and competitiveness. Our subjects include migrants and non-migrants. We find that, migrants exhibit no differences from non-migrants in risk and ambiguity preferences...

Using a field experiment in China, we study whether migration status is correlated with attitudes toward risk, ambiguity, and competitiveness. Our subjects include migrants and non-migrants. We find that, migrants exhibit no differences from non-migrants in risk and ambiguity preferences...

In this study, we examine the performance of portfolios based on excess cash holdings using a sample of UK listed firms. We argue that firms with excess cash holdings outperform firms that hold less cash. Strategically, excess cash holdings provide advantages in the product market and have been...

In this study, we examine the impact of excess cash holdings on the performance of UK portfolios in the presence of high economic uncertainty. We argue that macro-level uncertainty imposes high risks on firms. Such a high level of uncertainty also enhances the value of cash holdings, since...

We investigate the impact of climate policy uncertainty on corporate financing decisions using news-based measures of climate policy uncertainty. We find that an increase in climate policy uncertainty causes firms to reduce leverage. This effect is more pronounced for firms that are financially...

We examine the effect of auditor litigation risk on firm capital structure decisions by exploiting staggered state-level shocks to third-party auditor legal liability in the United States. We find that an exogenous increase in auditor litigation risk leads to an increase in firm leverage ratios...