1. Xiamen University, School of Management , Xiamen, China
2. Peking University, Institute of Digital Finance , Beijing, China
3. European Bank for Reconstruction and Development , London, UK
4. KU Leuven , Leuven, Belgium
5. CEPR , London, UK
6. University of Zurich, Swiss Finance Institute , Zürich, Switzerland
7. NTNU Business School , Trondheim, Norway
8. Maastricht University, School of Business and Economics , Maastricht, The Netherlands
9. Faculty of Business and Economics University of Antwerp, , Antwerp, Belgium