The Digital Heartbeat of EmotionIn the digital age, even the smallest symbols can shape how people connect. A single emoji can alter how audiences interpret sincerity and professionalism. Assistant Professor Soojin Roh of Peking University HSBC Business School (PHBS) explores how subtle emotional cues in online communication influence public trust and perception across cultures.As digital communication ...

This paper quantitatively examines the marginal value of corporate cash holdings (MVC)—that is, the change in shareholder value resulting from an additional unit of cash. In a frictionless market, the marginal value of one unit of cash equals one. However, in reality, various frictions and constraints can cause MVC to deviate from this benchmark. For instance, financing constraints may restrict investment ...

This paper examines the design of rosters used to implement affirmative action in India’s public institutions.