A field of research that attracts increasing attention from scholars is the impact of the information environment on corporate innovation. In this article, I review the research from three points of view in relation to the information environment: (i) managers' voluntary disclosure, (ii)...

This paper presents new evidence on international financial market integration using stock analyst earnings forecasts from 37 countries. By examining cash flow and discount rate news co-movements, we find that the financial and economic aspects of global market integration have diverged over...

Air pollution is a growing hazard to human health. This study examines whether air pollution affects the formation of corporate human capital and thereby firm performance. We find that people exhibit an intention to look for jobs in less polluted areas when air pollution is high in their...

We study the role of state controlling shareholders in corporate payout policy. We exploit as an exogenous event the State Capital Operation Program in China under which parent central state-owned enterprises (parent CSOEs) are required to partially contribute their income to a fiscal fund. We...