To thrive in a world in which common prosperity is as important as corporate profit-making, the private sector must find new, more sustainable ways to operate. But can private businesses really do well by doing good? One option, according to HKUST’s Abhiroop Mukherjee and colleagues, is for businesses to partner with governments to help the poor realize the ... 阅读更多

To thrive in a world in which common prosperity is as important as corporate profit-making, the private sector must find new, more sustainable ways to operate. But can private businesses really do well by doing good? One option, according to HKUST’s Abhiroop Mukherjee and colleagues, is for businesses to partner with governments to help the poor realize the ... 阅读更多

Insider trading—buying and selling shares based on non-public information—can threaten the equilibrium of the stock market by giving some traders an advantage over others. Although the term “insider trading” often carries the implication of illegal activity, top managers can legally trade company stock if they report their trades to the authorities in a ... 阅读更多

In a new world where common prosperity is as important as corporate profits, can private businesses really do well by doing good? One way to do so is for businesses to partner with governments in helping the poor realize benefits of newly built infrastructure. But three things need to happen for such partnerships to thrive: First, governments have to be ... 阅读更多

Economists and the broader investment community rely on government data to learn about key market indicators like oil inventories, agricultural production, and export volumes. But access to new technology is changing that. Commercial satellites are loosening the authorities’ hold over such information and making it possible for investors to anticipate ... 阅读更多

Financial markets look to governments to learn about aggregate, “macro”-economic outcomes, because governments have unique power in putting together data. Prof Abhiroop MUKHERJEE studies if alternative data will make a difference and if markets today already know what happened in the economy before the government releases this information. ... 阅读更多

根据一项考查1990年到2006年美国各州企业所得税变化的研究，公司税赋增高会导致专利数量、研发开支和新产品上市数量下降，但减税似乎并没有促进这类与创新关联的活动。 Abhiroop Mukherjee、Manpreet Singh和Alminas Žaldokas等研究人员剔除了导致创新活动减少的其他原因，包括当地的经济状况。他们發現，在加税的两年内，67%的受影响企业提交的专利項目数量比同等经济条件下不受税赋变化影响的邻州企业提交的专利項目数量少一項。这相当于专利活动总体下降5%。 同样，研发开支下降了4.3%，新产品上市数量下降5.1%。 作者说：“这些研究合在一起，表明企业税赋的效应贯穿于创新的所有阶段。在将创新视为经济增长的关键决定因素的前提下，我们相信这些结果不仅具有学术意义 ... 阅读更多

对许多家庭而言，互惠基金是重要的投资工具。这些家庭投资于基金时，其实是将资金集中托付给专业的基金经理；基金经理把客户的钱投资于股票、债券和其他资产，实现增值。因此，基金经理的选择至关重要，这很容易理解。不同的基金经理，能力相差很大，那么，潜在投资者如何获取知识，帮助其挑选基金经理？ 蔡達銘 、Bige Kahraman和Abhiroop Mukherjee证明，投资者了解互惠基金经理的方式相对成熟，但仍有改进余地。其论文研究了同时管理一只以上互惠基金的经理，并考查投资者是否像应该做的那样，通过同一个人管理的 所有 基金的过往表现，從而了解基金经理的管理能力。 人们往往根據基金的过往表现，决定是否投资于该基金及投资多少。如果他们这样做是为了理性地查明基金经理是否具备投资技能 ... 阅读更多