China's economy has been growing rapidly since the late 1970s and is expected to maintain this momentum in the foreseeable future. Coupled with the biggest population in the world, there is tremendous growth potential for China's capital markets and financial services industry, both vital to the...

This paper examines the role played by internal control and its five components (i.e., control environment, risk assessment, control activities, information and communication, and monitoring) in alleviating future stock price crash risk. Using a unique dataset from China, we find evidence that...

We analyze the relation between volatility and speculative activities in the crude oil futures market and provide short-term forecasts accordingly. By incorporating trading volume and opening interest (speculative ratio) into the volatility dynamics, we document the subtle interaction between...

Using publications in 24 leading finance journals across 21 years (1990-2010), we investigate the financial research productivity among Korean academic institutions and scholars. Overall, 61 Korean universities contribute a total of 158.50 weighted articles and 382 appearances during the full...

We examine whether mandatory research and development (R&D) investments disclosure matters to analyst forecast accuracy. Using a difference-in-differences research design, we document a significant decrease in forecast errors for firms that previously chose not to disclose R&D investments but...

Using samples of corporate bonds issued by Chinese A-share firms from 2007 to 2019, we examine how the type of local bond underwriting firm, specifically, whether the local underwriter has foreign shareholders or does not have foreign shareholders, affects the number of bond covenants. Our...

Burgeoning research on trust has revealed an incomplete understanding of how government trust shapes the R&D behaviors of small and medium enterprises (SMEs). To study this, we use data collected on 3001 Chinese SMEs to find that for every standard deviation increase in the government trust...