Working Papers-Peking University HSBC Business School(PHBS)

Author(s)

Depositor responses to a large currency shock vary depending on political views Triggered by a combination of ec

Author(s)

This study proposes a point estimator of the break location for a one-time structural break in linearregression m

Author(s)

An option pricing framework is utilized to estimate firms’ market value of assets, which are thenused to co

Author(s)

The least square Monte Carlo (LSM) algorithm proposed by Longstaff and Schwartz (2001) iswidely used for pricing

Author(s)

This paper examines the effect of the political network of Chinese municipal leaders on the pricingof municipal c

Author(s)

Do institutional investors’ portfolio diversification strategies reveal their preferences for aconstituent’s

Author(s)

We investigate how idiosyncratic lender shocks impact corporate investment Lenders with recentdefault experience wri

Author(s)

Misallocation reduces total factor productivity and economic growth, implying substantial adversewelfare effects Misa

Author(s)

We analyze capital structure dynamics of publicly held firms within the context of endogenouslydetermined payout po

Author(s)

In this paper, we relax the underlying assumption of complete information in Rosen-Robacktheory and study the role