By collecting and examining a sample of 1,309 acquisition transactions for the shares of listed companies in Hong Kong, I find that the Chinese State-owned Enterprise (SOE) background of buyers, the multi-market listed status of targets, and the degree of control rights obtained through the deals have impacts on takeover premium, which also show unique patterns or "puzzles" in the Hong Kong market. For instance, as an influential and active group of acquirers in the market, SOEs tend to pay lower takeover premium in acquisition transactions for the shares of listed targets compared to non-SOEs. Similarly, buyers (both SOEs and non-SOEs) are only willing to afford a lower premium if they gain absolute control over targets after the deals, whereas this effect is insignificant if buyers can only gain control rather than absolute control. Furthermore, buyers will also likely pay a lower premium for a multi-market listed target.

However, all the above "puzzles" in acquisitions do not jeopardize the rationale of buyers' paying a high premium as there exists a positive link between takeover premium and the post-deal performance of targets.

Job rotation has been one of the most important leadership development methods in management trainees' programs, but only seldom researchers have investigated the relationships between job rotation and leadership development. Moreover, these researchers did not dive into the mechanism of how leadership development mediates the relationship between job rotation and promotability or turnover intention, nor did they study how the design of job rotation (task novelty and social novelty) affect leadership development.

The current study examined the mechanism by analyzing three relationships: 1. The relationship between career initiative and leadership development, and the mediating effect of leadership development among the relationship between career initiative and promotability or turnover intention. 2. The relationship between task novelty and leadership development, and the mediating effect of leadership development among the relationship between task novelty and promotability or turnover intention. 3. The relationship between social novelty and leadership development, and the mediating effect of leadership development among the relationship between social novelty and promotability or turnover intention.

The investment decision-making process has seen a growing importance placed on environmental, social, and governance (ESG) considerations. This study investigates the informativeness of non-financial ESG information provided by various parties, including firms, the media, and rating agencies, to financial analysts. Using cross-sectional ESG data from 56 countries spanning the period between 2002 and 2018, this study finds that ESG data of firms obtained from both financial intermediaries and firms is of informativeness to financial analysts. In particular, this study shows that ESG information from all sources can play a significant role in improving the accuracy of analyst earnings forecast and in reducing the dispersion of analyst earnings forecast. The study further examines the interplay between ESG information from three different sources: ESG information from financial intermediaries and ESG disclosure from firms themselves. It finds that ESG information from the media weakens the effect of ESG information from firms ESG disclosure on analyst earnings forecasts accuracy and dispersion, which suggests that ESG information from firms and the media tend to be substitutive. However, it also finds that ESG information from ESG raters strengthens the role of ESG disclosure in improving analyst earnings forecast accuracy and reducing analyst earnings forecast dispersion. Furthermore, this study finds that the mandatory ESG disclosure requirements implemented in countries around the world play a significant role in enhancing the informativeness of ESG information obtained from all three sources. By highlighting the significance of mandatory disclosure and the diverse ESG information sources that impact analysts’ forecast properties, this study offers valuable insights for capital market stakeholders, policy makers and investors.

The market for mutual funds in China has experienced fast expansion in the past few years. While the investment outcome of a fund is influenced by market forces, the qualities and traits of the mutual fund manager also have a notable impact. Despite numerous research endeavors exploring how different characteristics of mutual fund managers affect the performance of their funds, the types of characteristics considered are not always comprehensive. Furthermore, China's economy is known for its unique capital market characteristics, which may limit the applicability of conclusions drawn from studies conducted in other markets to the market in China. Therefore, conducting a study on the market in China that considers a comprehensive range of mutual fund managers' characteristics will provide deeper insights into this market.

In addition, emotional finance has emerged as a new dimension for analyzing financial markets. However, the extent to which emotional intelligence is important for mutual fund managers, especially in China, has not been thoroughly investigated. Furthermore, different dimensions of emotional intelligence have been investigated in other management fields, such as leadership studies. As far as we know, there has been no research attempted to consider the different dimensions of emotional intelligence within the realm of mutual fund management.

In this study, I examine whether and how implementation of the Multilateral Memorandum of Understanding Concerning Consultation, Cooperation, and the Exchange of Information (MMoU) by the International Organization of Securities Commissions (IOSCO) affects the financial reporting quality of Chinese firms cross-listed in the United States (US). My results suggest that after 2007 entry into the MMoU, the Chinese firms cross-listed on the US stock exchanges conducted significantly less earning management activities. Moreover, I find that both the earnings management activities of the firms audited by the Big4 and state-owned enterprises (SOEs) tend to decline in a larger extent than firms audited by non-Big4 auditors or non-SOEs in that period after into the MMoU. Overall, my findings supplement MMoU research conducted in a global setting by evaluating how the financial reporting quality of Chinese firms changed when China entered into the MMoU. My result suggests that the MMoU, which presumably raises firms’ concerns about strengthened cross-border investor protection and enforcement through improved information exchange and cooperation among regulatory bodies, is important in promoting earnings quality of firms that are cross-listed, especially for Chinese firms.