The fast growth of China's economy has brought it not only to the center of the global
economy but also to a transition point in its growth model, a transition from scale to …

Studying China's credit market using a structural default model that integrates credit risk,
liquidity, and bailout, we document improved price discovery and a deepening divide …

Using a sample of Chinese municipal corporate bonds from 2011 to 2019, this paper
investigates the effect of city-level air pollution on local government financing costs. We find …

We investigate the informational role of prospectus readability in determining the pricing of
newly issued bonds in China. We construct a text-based measure of prospectus readability …

In response to the recent elevated corporate credit risk environment in China, we develop a
probability of default (PD) measure based on corporate bond defaults using the machine …

We study the drivers and pricing of liquidity in the Chinese credit bond markets. We
document that the liquidity and liquidity effects priced into yield spreads differ significantly …

Water resources serve as a vital pillar sustaining both economic activities and daily life for
residents. However, the uneven distribution of water resources across time and space has …

Given the critical role of credit ratings in signaling issuer creditworthiness and influencing
investor behavior, this paper aims to elucidate how adjustments in these ratings affect bond …

Quantum of investments needed for Indian infrastructure are huge. Credit Enhancement
(CE) strengthens the lower rated bonds by bringing in some safety features and helps …

This study finds that mandatory rotation of engagement partners results in more positive
earnings response coefficient (ERC) in the years immediately following rotation than in the …