This article introduces an estimation method for the conditional joint distribution of bivariate outcomes, based on the distribution regression approach and the factorization method. The proposed method can apply for discrete, continuous or mixed distribution outcomes. It is semiparametric in...

Agriculture is a main source of environmental degradation and biodiversity decline. We investigate the causal effects of culture on pro-environmental behaviors of the agricultural population (farmers), and how policy instruments interact with culture to influence individual behavior. We exploit...

We exploit exogenous variations in CEO turnover to investigate the influence of successor CEOs on corporate innovation. Using difference-in-differences (DID) and a battery of robustness tests, our results reveal that CEO turnover matters and triggers economically significant improvements in both...

Using a unique hand collected dataset and applying an institutional theoretical framework, we examine how mutual fund ownership influences environmental spending by Chinese listed companies between 2011 and 2018. We report mutual fund investment is associated with significantly increased...

The aim of this study is to investigate the volatility spillover connectedness between NFTs attention and financial markets. This paper firstly proposes a new direct proxy for the public's attention in the NFT market: the non-fungible tokens attention index (NFTsAI), based on 590m news stories...

Several common properties shared by cryptocurrencies and precious metals, such as safe haven, hedge and diversification for risk assets, have been wildly discussed since the day Bitcoin was created in 2008. However, no studies have explored whether cryptocurrency market uncertainties can help to...

Protecting minority shareholders is a central issue in corporate governance. A common tool of empowering minority shareholders is to curb controlling shareholders’ power of expropriating firm value, but this approach was rarely successful because of the resistance from powerful controlling...

We examine how low and high skilled internal emigration causally affect investments in human capital at origin. We provide theoretical and empirical evidence of a disincentive mechanism through which individuals refrain from education should low skilled emigration prove a viable alternative. Our...