Annual Conference

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Sustainable and Green Finance

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May 2024

Dirty Air and Green Investments: The impact of pollution information on portfolio allocations

Raymond FISMAN, Pulak GHOSH, Arkodipta SARKAR, Jian ZHANG
We study exposure to pollution information and investment portfolio allocations, exploiting the rollout of air quality monitoring stations in India. Using a triple-differences framework, we show that retail investors' investments in ``brown'' stocks are negatively related to local air pollution afte...
Keywords: ESG, Sustainable Investing, Pollution Information
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Webinar Series

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Innovation, Productivity and Challenges in the Digital Era: Asia and Beyond

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Oct 2021

Digitization and Artificial Intelligence: Challenges and Opportunities for Policy

Susan ATHEY
Keywords: AI, machine learning, autonomy, service delivery
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Annual Conference

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Accounting, Senior Fellows/Fellows

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May 2022

Digitalization, Accounting Jobs, and Financial Reporting Quality

Qiang CHENG, Amanda AWYONG, Tian DENG, Rencheng WANG
This study examines the effect of firm digitalization on the demand for corporate accountants and their digital skills. Using 170,000 job posts for corporate accountants made by U.S. nontechnology firms during the 2011–2019 period, we find that firms that adopt digital technologies demand more dig...
Keywords: digitalization, accountants, digital skills, human capital, financial reporting quality
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Senior Fellows/Fellows

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Senior Fellows/Fellows

Digital Transmission of Financial Knowledge: Evidence from Stock Market Investment

Xiaomin GUO, Yi HUANG, Qi SUN, Bernard YEUNG
We study digital platforms’ transmission of financial knowledge and their effects on users’ investment in stocks and performance. Leveraging a proprietary dataset from one of China’s largest digital platforms, we measure users’ acquisition of financial knowledge through various platform info...
Keywords: Digital Technology Adoption, FinTech, Portfolio Choice, Individual Investors, Financial Literacy
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Webinar Series

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Capital Market Development: China and Asia

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Mar 2025

Digital Technology, Legal Reforms, and Bank Lending

Yi HUANG, Yuchao PENG, Yangfan SUN, Nanxuan WANG, Bernard YEUNG
The introduction of online collateral auctions through legal reform has established a more efficient bankruptcy resolution mechanism. This technology-driven change has enhanced the ex-ante value of secured loans, influencing the supply, demand, and composition of bank lending. Using granular loan-le...
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