In California and elsewhere, African Americans and Latinos have been found to make up a disproportionate share of payday loan borrowers. This paper evaluates whether and why the relative concentration of African American and Latino households is a factor that influences the location and...

Unlike issuer-paid credit rating agencies (CRAs), investor-paid CRAs are compensated by investors for their rating services. This paper documents that the coverage of an investor-paid rating agency (the Egan Jones Ratings, EJR) increases rated firms' stock price informativeness. To alleviate...

Price limits are commonly adopted regulatory restrictions in financial markets, yet their impacts on market performance remain controversial. Exploiting a price-limit widening policy in China, we investigate the impacts of price limits using the difference-in-differences methodology. Stocks are...

The intermittency of new energy power generation (NEPG) exposes the power supply chain (PSC) to a higher supply disruption risk (SDR), so it is crucial to determine how to manage such risk and minimize losses. In the context of cap-and-trade (CAT) in the power industry, this paper constructs a...