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作者：Kang, Byoung Uk; Nam, Jonathan Sangwook
作者单位：Hong Kong Polytechnic University
摘要：This study examines the informational role of local newspapers in institutional investments. Exploring local newspaper closures across US counties, we document that institutional investors significantly reduce their holdings in firms located near the closed newspapers. The post-closure decrease in institutional holdings is concentrated for non-local or non-hedge fund institutions. In contrast, institutions that are likely to possess information advantages-local institutions or hedge funds-do n...
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作者：Hou, Fangfang; Ng, Jeffrey; Xu, Xinpeng; Zhang, Janus Jian
作者单位：Xiamen University; University of Hong Kong; Hong Kong Polytechnic University; Hong Kong Baptist University
摘要：Lenders are reluctant to finance firms' innovation activities because such activities tend to be opaque, with a high likelihood of negative outcomes that could hamper loan repayment. We posit that public credit registries (PCRs), which play an important role in credit information sharing in many countries, can facilitate financing by reducing adverse selection and moral hazard and increasing bank competition. Using the staggered establishment of PCRs in different countries and an international...
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作者：Johnson, Joseph A.; Kelly, Khim; Olczak, Wioleta
作者单位：University of South Carolina System; University of South Carolina Columbia; State University System of Florida; University of Central Florida; Marquette University
摘要：The provision of more frequent feedback to employees is increasing, although prior research has found mixed results as to the effect of increased feedback frequency on employee performance. Narcissism research identifies narcissistic oversensitivity as a key narcissistic subdimension that may result in particularly strong responses to performance feedback. We predict and find in an experiment that increased performance feedback frequency has a more negative impact on the performance accuracy o...
