Using NBER patent data and hedge fund holdings in U.S. firms during 1998-2006, we study the effect of hedge fund ownership on corporate innovation. We find that hedge fund ownership promotes both patent quantity and quality, even after controlling for endogeneity. This stimulating effect is more...

While the Chinese luxury industry is enjoying rapid growth, the market for counterfeit luxury brands is growing equally fast. There are contradictory views regarding the role counterfeit luxury brands play in the marketplace. Luxury brand owners denounce counterfeit luxury products for harming...

The purpose of this study was to explore Chinese consumers' motivations for purchasing luxury products, and to unravel the inter-relationships among individual differences, motives, and luxury consumption

This study examines Chinese consumers' motives, attitudes toward luxury brands (ATLB), and the impact of ATLB on consumer behavior. Specifically, Chinese luxury consumers were segmented into three groups: the elitist, the distant, and the democratic. Compared to the democratic group, the more...

We examine the impact of local religious beliefs on organizational risk-taking behaviors using hedge funds as a new and unique setting. We find robust evidence that local religiosity is significantly negatively related to both total and idiosyncratic volatilities of hedge funds during 1996-2013....