Firms’ financial reports are an important source of information for market participants, and relevant disclosure requirements have been imposed by regulators. However, “there is no discussion about the verification requirements of such disclosures,” explain HKUST’s Yan Xiong and colleagues. They offer an alternative explanation for the importance of ... Read More

Investors seek information to guide their investment decisions and maximize their profits. These information-acquisition activities are often kept secret. However, some investors voluntarily disclose such activities, and some regulators have mandates (such as the Regulation Fair Disclosure in the U.S. and China’s Shenzhen Stock Exchange requiring the ... Read More

A rule designed to protect investors may encourage managerial short-termism, to the detriment of firms. This sobering finding comes from a study led by HKUST’s Yan Xiong. According to Xiong and a U.S. colleague, the American government is tying firms’ hands with the requirement to disclose managers’ pay offers. The paper shows how managers become more myopic ... Read More

A rule designed to protect investors may encourage managerial short-termism, to the detriment of firms. This sobering finding comes from a study led by HKUST’s Yan Xiong. According to Xiong and a U.S. colleague, the American government is tying firms’ hands with the requirement to disclose managers’ pay offers. The paper shows how managers become more myopic ... Read More

The rapid rise in the number of products globally has dramatically increased retailers’ demand for capacity. However, despite the continuous growth in the demand for products, the availability of retail space has not kept pace and the situation is only getting worse. One would assume then that such a shortage of capacity would negatively impact retailers ... Read More

In financial markets, asset-management companies increasingly rely on data to generate profitable trading strategies. However, developing skills in data analysis and processing is a costly and uncertain process, especially as many forms of data emerging in today’s Information Age are entirely new to investors. To use such “alternative” data to make the right ... Read More