We conduct an experiment to examine the effects of guidance frequency (frequent versus infrequent) and guidance goal (accuracy versus meet/beat versus truthful) on managers' operating decisions. We find that frequent guiders sacrifice total earnings for quarterly earnings predictability...

We investigate the economic empowerment of founders’ wives in public Chinese family firms. We show that female cofounders hold higher voting rights when their firms are headquartered in regions where gender stereotypes rooted in local social norms are less prevalent. We also find that firms...

This paper analyzes the relation between ownership concentration and corporate bond volatility. We show that increased ownership concentration is associated with higher volatility of corporate bonds. This relation is stronger among more illiquid bonds, during periods of heightened bond market...

Utilizing VAR-DCC-MVGARCH model and volatility spillover index, we examine international spillovers and spillbacks between SMICs and the U.S. Results show that SMICs and the U.S. present dynamic and asymmetric volatility spillovers and spillbacks during and beyond financial crisis. The effects...

This paper examines the impacts of borrowers' discouragement, self-perceived discrimination to apply for bank financing and appetite for risk-taking on preferences for external financing amongst ethnic minority businesses (EMBs) in the UK. Our results suggest three main reasons for borrower...

In this study, we draw on moral cleansing theory to investigate the consequence of unethical pro-organizational behavior (UPB) from the perspective of the actors. Specifically, we hypothesize that after conducting UPB, people may feel guilty and tend to cleanse their wrongdoings by providing...