This article finds that there is a nonlinear relationship between a city’s development level and a bank’s impact on firm performance in China, by using firm level data. Keywords: Bank Finance Heterogeneity in China: Micro-Level Evidence
Contingent commissions, which are payments made by an insurer to brokers based on the volume and profitability of insurance placed with the insurer, have been criticized as damaging to the relationship between the insured and its broker. Keywords: Contingent Commission, Insurance Underwriting Cycle
We provide a tradeoff model of the capital structure that allows leverage to be a function of a firm’s choice of tax aggressiveness. Keywords: Tax planning, Tax aggression, Leverage, Debt, Capital structure
This paper uses a hypothetical debt scenario to compare the costs of four types of loans to fund consumption Results show that, under reasonable assumptions, 401(k) loans are cheaper than credit card and high-cost loans. Keywords: Hypothetical Debt Scenario, Loan Choices
We examine how nonprofit, public, and for-profit establishments vary in the provision of health benefits and insurance and performance-based incentives using the 2002 National Organization Survey of establishments in the United States. Keywords: Agency theory, Health benefits
It is generally understood that firm strategy is linked to both internal firm resources and external, competitive industry forces. Keywords: Strategy, Strategic alliances, Institutional theory, Culture, China, Taiwan, Hong Kong, Policy capturing
This paper develops a global game model of information based bank runs to analyze how the announcement of bailouts affects investors’ bank run incentives. Keywords: Bailout, Bank run
This paper attempts to identify the drivers behind households’ decision to purchase a manufactured home rather than buy a traditional house or rent. Keywords: Manufactured Housing, Homeownership, Nested Logit, The United States
In this article, we examine dynamic relationships among housing prices from four firsttier cities in China from December 2000 to May 2010 and present an equilibrium model of housing price in multi-markets. Keywords: ECM, DAG, Housing price dynamics
Researchers in marketing have long recognized that current populations of customers can influence the behavior of prospective customers. Keywords: Customer equity, Student diversity
These findings suggest inconsistency with conventional wisdom of profiling employee value according to organizational ownership type. Keywords: For-profit organizations, Job attitudes,Nonprofit organizations, Nursing homes, Sectoral difference, Value congruence
This article examines the effects of several forms of wage inequality on service quality and employee effort We suggest that two popular theories, tournament and fair wage equity, are not necessarily competing. Keywords: wage inequality, organizational performance, nonprofit organizations, for-profit organizations, tournament theory, fair-wage theory
In this paper we construct a set of indices that capture the special features of the Chinese commodity futures market for the period from January 2000 to December 2011 to analyze the general properties of China’s commodity futures market. Keywords: Chinese Commodity Futures, Property
A two-sided Weibull is developed to model the conditional nancial return distribution, for the purpose of forecasting Value at Risk (VaR) and conditional VaR. Keywords: Two-sidedWeibull, Value-at-Risk, Expected shortfall, Back-testing, global
Prior studies on errors in reserve estimation suggest that insurers manage loss reserves to achieve corporate goals, including tax minimisation and income smoothing. Keywords: Reinsurance Purchases, Contingent Commission Payments and Insurer Reserve Estimation
Unique to the world, China adopts a ‘‘T + 1 trading rule’’, which prevents investors from selling stocks bought on the same day We develop a dynamic price manipulation model to study the effects of the ‘‘T + 1 trading rule’’. Keywords: T + 1 Trading Rule, Trading Volume, Volatility, Trend-chasing
The ownership and governance of for-profit (FP), nonprofit (NP), and local government (LG) organizations are different. Keywords: ownership, quality, asymmetric information, nursing homes, for-profit firms, nonprofit organizations, local government organizations
Scholars and policy makers believe that democracy will bring prosperity through integration into the global economy via increased international trade. Keywords: Bilateral Trade, Developing Countries, Governance, Gravity Model, Liberalization, Trade Policy
We conduct trust game experiments in which subjects can sometimes exchange proposals either in numerical (tabular) form, or using chat messages followed by exchange of numerical proposals. Keywords: Trust game, Trust, Trustworthiness, Reciprocity, Commitment, Communication, Cheap talk
The authors explore differences among for-profit, nonprofit, and local government organizations in wage levels and inequality. Keywords: wages, wage inequality, nonprofit and for-profit comparison, local government, human services
To study the role of elections in financial market instability, we focus on the role of credit risk pricing during elections from 2004 to 2007 in 13 emerging market economies. Keywords: Emerging markets, credit default swaps, sovereign debt, elections
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