Revisiting Granger Causality of CO2 on Global Warming: A Quantile Factor Approach
The relationship between global warming and CO2 is a long-standing question in the climate change literature In

Liang Chen, Juan J. Dolado, Jesús Gonzalo, Andrey Ramos

Working Paper | No. 20220501 |

Keywords: Global warming, CO2 emissions, quantile factor models, granger causality

More Details
Short Squeezes
Building upon the premise that short squeezes are most likely to occur following a large one day price increase

Zhiqian Jiang, Baixiao Liu, Andrew Schrowang, Wei Xu

Working Paper | No. 20220304 |

Keywords: Short selling, short squeezes, short sale constraint, price reversals

More Details
Motivating Collusion
We examine how executive compensation can be designed to motivate product market collusion We look at the 2013

Sangeun Ha, Fangyuan Ma, Alminas Žaldokas

Working Paper | No. 20220303 |

Keywords: Product market collusion, corporate governance, managerial compensation

More Details
Delineating China’s Metropolitan Areas Using Commuting Flow Data
This paper provides the first delineation of China’s commuting-based metropolitan areas (MAs)using a new sourc

Ting Chen, Yizhen Gu, Ben Zou

Working Paper | No. 20220302 |

Keywords: Metropolitan areas, local labor market, commuting flows

More Details
Lease-Adjusted Productivity Measurement
We document that leased capital accounts for more than 30% of the total productive physical assets used by US p

Weiwei Hu, Kai Li, Yiming Xu

Working Paper | No. 20220301 |

Keywords: Leased capital, productivity estimation, firm-level productivity, productivity growth, mismeasurement

More Details
Leasing as a Mitigation Channel of Capital Misallocation
Leased capital accounts for about 20% of the total productive physical assets used by US publicly listed firms,

Kai Li, Yiming Xu

Working Paper | No. 20220103 |

Keywords: Leased capital, collateral constraint, capital misallocation, capital reallocation

More Details
Leasing as a Mitigation of Financial Accelerator Effects
We document that leased capital accounts for about 20% of total physical productive assets used by US public fir

Kai Li, Jun Yu

Working Paper | No. 20220102 |

Keywords: Leased capital, business cycles, financial accelerator, uncertainty, risk shocks

More Details
Local Government Debt and Regional Competition in China
The GDP tournament among local governments plays a crucial role in supporting China’s growthmiracle Investmen

Xi Qu, Zhiwei Xu*, Jinxiang Yu

Working Paper | No. 20220101 |

Keywords: Local Government Debt, regional competition, government debt reform, Chinese economy

More Details
The Effect of Abusive Management Practices on Employee’s Intention to Quit: An Empirical Study
In the workplace, manager’s abusive behaviors, such as ridicule or silent treatments towards their subordinate

Fanmin Kong, Mengjiao Li

Working Paper | No. 20211106 |

Keywords: Abusive management practices, intention to quit, leader-member exchange, post-1990’s employees

More Details
Winners from Winners: A Tale of Risk Factors
Starting from the twelve distinct risk factors from Fama and French (1993, 2015, 2018), Hou, Xue, and Zhang (201

Siddhartha Chib, Lingxiao Zhao, Guofu Zhou

Working Paper | No. 20211105 |

Keywords: Model comparison, factor models, anomaly, discount factor, portfolio analysis

More Details