1. Robert Day School of Economics and Finance, Claremont McKenna College, 500 E. Ninth Street, Claremont, CA 91711, USA
2. College of Business, Auburn University, 415 W. Magnolia Avenue, Auburn, AL 36849, USA
3. School of Economics and Finance, University of Hong Kong, Porkfulam Road, Hong Kong
4. Shanghai University of Finance and Economics, 777 Guoding Road, Shanghai 200433, China