This study examines the effect of industry cash flow volatility on the risks of stock price crash by investigating Chinese A-share listed companies from 2005 to 2015. Findings reveal that increases in the degree of volatility in industry cash flow significantly increase the risk of a stock price...

This paper studies the adaptive learning dynamics over multiple locations. Our focus is to show that, to observe the average performance of other locations is necessary or efficient. Through the analysis of information structure, the result about convergence and stochastic stability can be...

Disease does not only affect development through its contemporaneous impact on health, but also through its enduring historical effect through its shaping of culture and institutions. By drawing on the experience of historical pandemics, we argue that some of the current stringent approaches...