This paper demonstrates that investor irrationality can be contagious across markets.Supplementing existing studies on resale option theory,we illustrate th
We test the hypothesis that status preference amplifies trading activity in stock markets.This preference leads to demand for local stocks to track neighbor
This study investigates the extent to which Chinas high household savings rates can be explained by the life cycle theory.First,we document that Chinese par
This study investigates politically driven investments,a commonly used but little explored means through which politically motivated executives establish po
Using a novel proxy of investors speculative demand constructed from online search interest in “concept stocks”,we examine how speculative demand affects
While in standard housing economics,housing is regarded as an asset and a consumption good,we study in this paper the consequences for housing prices if hou