A5101736494- Corporate Finance and Governance
- Banking stability, regulation, efficiency
- Financial Markets and Investment Strategies
- Islamic Finance and Banking Studies
- Auditing, Earnings Management, Governance
- Insurance and Financial Risk Management
- Stochastic processes and financial applications
- Ideological and Political Education
- Market Dynamics and Volatility
- Monetary Policy and Economic Impact
- Educational Technology and Pedagogy
- Corporate Social Responsibility Reporting
- Education and Work Dynamics
- Educational Reforms and Innovations
- State Capitalism and Financial Governance
- Experimental Behavioral Economics Studies
- Fiscal Policy and Economic Growth
- Energy, Environment, Economic Growth
- Chinese history and philosophy
- Private Equity and Venture Capital
- Foreign Language Teaching Methods
- Evaluation and Optimization Models
- Higher Education and Teaching Methods
- Media Influence and Politics
- Evaluation Methods in Various Fields
Shanghai International Studies University
2022-2024
Jilin Electric Power Research Institute (China)
2024
Southwestern University of Finance and Economics
2013-2023
Aerospace Information Research Institute
2020
Chinese Academy of Sciences
2020
Shihezi University
2011
Changji University
2009
Hubei University
2008
Changchun Institute of Technology
2008
Shandong University of Finance and Economics
2008
The sudden outbreak of the Coronavirus disease (COVID-19) swept across world in early 2020, triggering lockdowns several billion people many countries, including China, Spain, India, U.K., Italy, France, Germany, Brazil, Russia, and U.S. transmission virus accelerated rapidly with most confirmed cases U.S., Brazil. In response to this national global emergency, NSF Spatiotemporal Innovation Center brought together a taskforce international researchers assembled implementation strategies...
Abstract Research Question/Issue This paper examines the relation between institutional cross‐ownership from same industry (hereafter, INSTCO) and corporate social responsibility CSR) for Chinese publicly traded firms. We also investigate whether INSTCO CSR depends on strength of internal external governance. Findings/Insights Based a sample listed firms 2009 to 2017, we find that is significantly positively associated with firm performance. interpret our results under signaling theory...
ABSTRACT Generalist CEOs receive higher pay than specialist CEOs. We examine the implications of CEO expertise for structure executive compensation. follow contract theory and predict that information asymmetry induces generalist to overstate their ability a larger extent when contracting with shareholders. Boards directors take this into account by designing compensation contracts link more closely firm performance. Our empirical results support prediction, is pronounced are less known in...
In this study, we investigate the gender gap in personal financial distress within United States. Our study commences with a rigorous quantification of disparity distress, employing Logit regressions. Additionally, perform standard meditation analysis to dissect potential channels income shocks and choices as well their relative contributions distress. Leveraging data from NLSY79 CYA panel, empirically uncover that women are associated higher likelihood experiencing than men. Furthermore,...
Abstract This study examines the relationship between funding liquidity and market using daily data on S&P 500 index options. We find that options is positively correlated with after controlling for uncertainty. Further analysis reveals positive in mainly driven by short‐term deep out‐of‐the‐money Our results remain robust confounding effects of equity different frequencies.
This paper explores the integration of big data technology into college English teaching models to enhance educational outcomes. We developed a Self-Organizing Feature Map (SOFM) neural network-based model for evaluating quality, aiming identify factors that improve effectiveness. The was tested its training and generalization capabilities, demonstrating fast convergence, high classification accuracy, robust generalization. Our experimental results indicate proposed evaluation effectively...
Abstract This paper investigates how banks utilize soft information to provide contractual flexibility in loan covenant enforcement. We find that relationship lenders are significantly less likely than non‐relationship enforce covenants for material violations when borrowers potentially breach of financial covenants. The mitigation asymmetry by lending, as opposed alternative explanations, serves the underlying mechanism. Furthermore, with potential breaches experience increases interest...
During the 2015 stock market crisis, Chinese government used hundreds of billions dollars to purchase shares directly in secondary market. We find that, compared with un-rescued firms, rescued firms have significantly lower liquidity after rescue. Policy uncertainty about subsequent interventions explains reduction better than rescue-induced dry-up. Inconsistent potential moral hazards associated bailouts, investment policies become more conservative Our evidence raises caution unintended...
Analyzing U.S. commercial banks from 2009 to 2022, we show that uninsured deposit flows, not insured ones, become more sensitive bank performance once are discussed on Twitter, especially when is abnormally bad and these discussions receive engagement among Twitter users. Moreover, the effect entirely driven by heavily rely deposits. The magnifying of social media flow-to-performance sensitivity better explained stimulating depositors' panic rather than disseminating news performance. We...
Using the staggered enactment of state-level constituency statutes as an exogenous shock to corporate social responsibility, we find that directors’ information acquisition intensity, measured by return for their trading company shares, decreases 4% after enactment. Our results are consistent with argument allowing directors consider stakeholders’ interests makes less accountable. We further show effect is more pronounced when either have incentive collect or it costly do so. Last, informed...
Debt covenants reduce agency cost of debt while bringing into contracting which increases with firms' growth opportunities. In this paper, we exploit an unexpected increase in military spending after the War Afghanistan led to opportunities for defense contractors establish a causal relationship from bank loan covenants. Using difference-in-difference strategy, find that have much less 2001, effect concentrated right war. Aside significantly general covenants, firms receive restrictions...
I exploit an unexpected increase in military spending associated with the War of Afghanistan to establish a causal relation from growth opportunities firms' bank-loan covenants. Using difference-in-difference strategy, find that defense contractors borrow much less restrictive covenants, significant decline both number and tightness Individual such as financial negative covenants sweep are all relaxed. The covenant restrictiveness is not driven by changing credit risks. Cross-sectional...
In this paper, we find that bond holders gain from monitoring by loan creditors and cross-monitoring benefit is through debt covenants. Bondholders are shown to react significantly positively intensive covenant protection in new agreements. An additional generates on average a 20-bps increase cumulative abnormal return of bonds around the announcements, supporting gained bondholders incentive private lenders. include more covenants contracts with firms also have their However, relation gone...
This paper demonstrates that the use of covenant lite loans is a result costly renegotiation and coordination arising from large lending syndicates. Consistent with friction explanation, syndicate size participation institutional investors are positively associated issuance loans. In addition, I find modified less frequently. Costly renegotiations also imply it possible for borrowers to pay obtain structure when composition syndicates hinders effective enforcement covenants. There evidence...