...David G McMillan; Pornsawan Evans Purpose – The purpose of this paper is to examine the nature of equity ownership of state-owned enterprises (SOEs) for over 2,000 listed firms in China. The paper examines both the pattern of state ownership and the dynamics of stock returns and volatility. Firms...

... expectations, higher labor income risk or higher labor and financial market covariance risk. Research limitations/implications This study uses real economy investment return as a proxy of risky asset return. Practical implications Residents with higher background risks should hold less risky assets...

...Rongsheng Shi; Zhi Xu; Zhengrong Chen; Jing Huang Purpose The purpose of this paper is to theoretically and empirically explore the effects of attention levels on individual investors' investment return. Design/methodology/approach By introducing the heterogeneous attention, the authors first...