All Outputs (2)

Does corporate ESG create value? New evidence from M&As in China (2022)
Journal Article
Zheng, Z., Li, J., Ren, X., & Guo, J. M. (2023). Does corporate ESG create value? New evidence from M&As in China. Pacific-Basin Finance Journal, 77, Article 101916. https://doi.org/10.1016/j.pacfin.2022.101916

Using a large sample of Chinese companies' domestic M&A, this study provides new evidence on the financial payback of corporate ESG and its dynamics. We find that acquirers' ESG rating is positively correlated to post-M&A performance and deal complet... Read More about Does corporate ESG create value? New evidence from M&As in China.

What Drives Individual Investors in the Bear Market? (2022)
Journal Article
Xu, R., Liu, Y., Hu, N., & Guo, M. (2022). What Drives Individual Investors in the Bear Market?. The British Accounting Review, 54(6), Article 101113. https://doi.org/10.1016/j.bar.2022.101113

This study uses a unique dataset from a large anonymous brokerage firm to examine the net investment of individual investors during a bear market. The study’s empirical evidence reveals that individual investors provide liquidity by acting as net buy... Read More about What Drives Individual Investors in the Bear Market?.