Using hand-collected data on purchases of D&O insurance by Chinese listed firms for the period from 2008 to 2019, we empirically find that D&O insurance negatively associates with credit spreads. The negative relationship still holds after conducting a series of robustness tests and is not...

We study a dynamic stochastic general equilibrium model in which agents are concerned about model uncertainty regarding climate change. An externality from greenhouse gas emissions damages the economy's capital stock. We assume that the mapping from climate change to damages is subject to...

Online platforms significantly facilitate prosocial activities by making it easier for help seekers to find help providers. Nevertheless, a critical issue is whether the users, especially underprivileged users, in prosocial platforms would like to help each other. In this paper, we investigate...

This paper explores how changes in credit market competition may result in a less pronounced effect of credit conditions on the real economy, and low volatility. Using the state-level deregulation of the U.S. banking system in the 1980s as a natural experiment, I examine whether changes in...

Prior works offer compelling evidence that on the demand side of the market, user-generated online product reviews play a very important role in informing consumers' purchase decisions. On the supply side, however, the interplay between online product reviews and firm strategies is less...

Good market timing skills can be an important factor contributing to hedge funds’ outperformance. In this chapter, we use a unique semiparametric panel data model capable of providing consistent short period estimates of the return correlations with three market factors for a sample of...

This chapter outlines the philosophic underpinnings of the self-management paradigm developed over the past three decades by China’s Haier Group, a global leader in white goods. The successful transformation of Haier from a small resource-poor firm to a dominant global giant is often...

When analyzing modes of navigating a multi-cultural environment in a multinational corporation (MNC), most studies employ an etic approach that delineates how, for example, multi-cultural companies thrive and maneuver in a likewise multi-cultural business contexts. This approach implies the use...