Historically, businesses with the largest cash flows and capital reserves were the biggest investors—but this is no longer the case. Economists have long struggled to explain why the relationship between corporate investment and cash flow has weakened and even disappeared in the last few decades. Thanks to the pioneering work of HKUST’s Chu Zhang and co ... 閱讀更多

Executives at manufacturing companies have many ways to express how they expect their organizations to perform. Indeed, they regularly issue forecasts that spell out how they see the future unfolding. These forecasts often include predictions about a wide range of variables, which include economic conditions, market trends, customer behavior, and company ... 閱讀更多