It is commonly recognized that a major issue of robust optimization is the tendency to produce overly conservative solutions To address this issue, a new regret-based criterion with a single control parameter is proposed and axiomatized to offer smooth c

We study how leasing plays a novel role in improving total factor productivity (TFP) by facilitating entry and technology adoption As a form of more collateralizable financing, leasing provides additional nancing for investment required in a productive

We find that institutional investors’ local culture of religiosity influences their stock lending decisions and short-sell constraints Firms with higher ownerships by blockholders located in more religious counties are associated with higher utilizatio

We investigate the relationship between media negativity on foreign countries and flows to country specific interna

We examine the price discovery process in the Chinese equity market Leveraging a unique feature of China’s market - the release of macroeconomic announcements that are often unscheduled, varying in time, and occur outside of regular trading hours

This research examines the usefulness of new proposed equity premium predictors through their superior out-of-sample forecasting gains relative to the historical average return method and currently well-known spillover indices (Diebold and Yilmaz, 2009)

A robust single-leg capacity control method based on adjustable regret is proposed to address the practical needs

In many settings, affirmative action policies apply simultaneously at two levels, for instance, at university and

This paper studies the effects of income taxation on entrepreneurship, empirically and in astructural macro model

It is generally believed that pressure from peers induces employees to improve their efficiency and performance, b