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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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Nov 2022

RegTech

Ben CHAROENWONG, Alan KWAN, Zachary T. KOWALESKI, Andrew G. SUTHERLAND
Compliance-driven investments in technology—or “RegTech”—have grown rapidly in recent years. To understand these investments, we study how financial institutions respond to new internal control requirements. First, we show that affected firms make significant investments in enterprise resour...
Keywords: RegTech, FinTech, technology adoption, financial regulation, compliance, internal controls, compleme
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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 2022

Why Are Small Businesses Slow to Adopt Profitable Opportunities?

Sean HIGGINS, Paul J. GERTLER, Ulrike MALMENDIER, Waldo OJEDA
Why are small businesses often slow to adopt new profitable opportunities, even in the absence of informational frictions, fixed costs, or misaligned incentives? We explore three potential mechanisms: present bias, memory, and trust in other firms. In partnership with a financial technology (FinTech...
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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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Sep 2022

Data Privacy and Digital Demand

Wei XIONG, Long CHEN, Yadong HUANG, Shumiao OUYANG
We combine survey and behavioral data to analyze consumers’ data-sharing choices in a realistic setting in which they exchange personal data for digital services. We find that respondents with stronger privacy concerns authorize more, rather than less, data sharing, confirming the data privacy par...
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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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Dec 2022

Are Foreign Investors Informed? Trading Experiences of Foreign Investors in China

Xiaoyan ZHANG, Donghui SHI, Christian T. LUNDBLAD, Zijian ZHANG
Using a proprietary dataset from 2016 to 2019, we find that order flows from foreign investors, facilitated by regulatory liberalization through several channels, present strong predictive power for future stock returns in the Chinese market. Most surprisingly, foreign investors possess the ability ...
Keywords: Foreign investors, the Chinese stock market, public information, market liberalization
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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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Apr 2022

Blockchain without Crypto? Linking On-Chain Data Growth to Firm Fundamentals and Stock Returns

Lin William CONG, Ran CHANG
Despite the explosive growth of cryptocurrencies, whether the underlying technology adds significant value and will thus sustain broad adoption remains unclear. Using proprietary data on firm-level blockchain records from 2015 to 2021, we conduct the first large-sample study linking blockchains to f...
Keywords: Alternative Data, Blockchain, Digitization, Disclosure, Nowcasting
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