The authors are grateful to Bo Becker (the department editor), an anonymous associate editor, and two anonymous referees for their very helpful and constructive comments and suggestions throughout the review process. The authors also thank Sabri Boubaker, Fengyu Li, Adrian Lee, Jane Luo, Hui Guo, Wanling Qiu, Gary Tian, and Terry Pan as well as seminar participants at the Dongbei University of Finance and Economics, Swansea University, Macquarie University, and the University of Sydney for helpful comments and suggestions. All errors are the authors’ own.