工作论文 PAPERS
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Meetings and Mechanisms
There exists a lot of variation in terms of how buyers and sellers meet, both across sectors and over time as
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The Legal Origins of Financial Development: Evidence from the Shanghai Conces...
We assemble new data on the British and French concessions in Shanghai between 1845 and 1936 to assess the lega
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The Allocation of Talent and Financial Development, 1897 to 1936
We examine how the supply of talent affected financial development, based on a historical experiment that abruptly
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Partisan Depositor Responses to a Currency Shock
Depositor responses to a large currency shock vary depending on political views Triggered by a combination of ec
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Estimation of a Structural Break Point In Linear Regression Models
This study proposes a point estimator of the break location for a one-time structural break in linearregression m
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Q-Theory of Investment Revisited: Merton's q
An option pricing framework is utilized to estimate firms’ market value of assets, which are thenused to co
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Leave-One-Out Least Square Monte Carlo Algorithm for Pricing American Options
The least square Monte Carlo (LSM) algorithm proposed by Longstaff and Schwartz (2001) iswidely used for pricing
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The Financial Value of the Within-government Political Network: Evidence from...
This paper examines the effect of the political network of Chinese municipal leaders on the pricingof municipal c
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The Effect of Institutional Investor Portfolio Diversification on Corporate D...
Do institutional investors’ portfolio diversification strategies reveal their preferences for aconstituent’s
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Investment Sensitivity to Lender Default Shocks
We investigate how idiosyncratic lender shocks impact corporate investment Lenders with recentdefault experience wri