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Is Social Expenditure Responsible for Recent Rise in Public Debt in OECD Countries?
Insook Lee
ARTICLE | Applied Economics Letters | Vol.25,2018
In developed economies, social expenditure is alleged to cause the rise in public debt over the last three decades...
Keywords: Social expenditure, Public debt, Public debt in OECD countries, Banking crisis
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Infomation Flows between the US and China's Agricultural Commodity Futures Markets -- Based on VAR_BEKK-Skew-t Model
Qian Chen, Xin Weng
ARTICLE | Emerging Markets Finance and Trade | 2018
The information flow in the volatility and the skewness of returns are two factors closely influences the hedging risks for cross-border transactions...
Keywords: Agricultural commodity futures, Information flows, Multivariate skew t distribution, VAR-BEKK-MGARCH model, Volatility spillover
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Modeling Stock Return Distributions with A Quantum Harmonic Oscillator
Kwangwon Ahn, Mu Young Choi*, Bingcun Dai, Sungbin Sohn, Biao Yang
ARTICLE | Europhysics Letters | Vol.120, 2017
We propose a quantum harmonic oscillator as a model for the market force which draws a stock return from short-run fluctuations to the long-run equilibrium...
Keywords: Fokker Plank equation; Quantum harmonic oscillator; Stock return distribution
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Significance Test in Nonstationary Multinomial Logit Model with Seriality Correlated Dependent Variable
Chu,C.S*., Nan Liu, Lina Zhang
ARTICLE | Economics Letters | Vol.159,2017
We derive the asymptotic distribution of the overall significance LM test in logit panel models with nonstationary covariates when the binary dependent variable is serially correlated...
Keywords: Nonstationary panel logit, Serial correlation
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The Impact of Maternal Employment on Children's Adiposity: Evidence from China's Labor Policy Reform
Qing Wang, Young Jo
ARTICLE | Health Economics | Vol.26, 2017
China has experienced a rapid growth in childhood adiposity in recent years...
Keywords: Maternal employment, Children’s adiposity
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City-level Political Uncertainty and City-Level IPO Activities
Danglun Luo*, Naqiong Tong, Guoman She
ARTICLE | Accounting and Finance | Vol.57, 2017
Based on the unique city-level politician turnover data between 1999 and 2012 in China, we document that the number of IPOs at the city level decreases during the city-level politician turnover period...
Keywords: Political uncertainty, Political turnover; IPO, Government intervention, Firm performance
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Tax Avoidance and Cost of Debt: Evidence from a Natural Experiment in China
Wei Cen*, Naqiong Tong, Yushi Sun
ARTICLE | Accounting & Finance | Vol.57, 2017
This study examines the impact of tax avoidance on the cost of debt using a natural experiment in China...
Keywords: Bond market regulation; Cost of bond; External governance; Tax avoidance
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An Examination of the Statistical Significance and Economic Relevance of Profitability and Earnings Forecasts from Models and Analysts
Mark E. Evans, Kenneth Njoroge, Kevin Ow Yong
ARTICLE | Contemporary Accounting Research | Vo. 34, 2017
In this paper, we propose and empirically test a cross-sectional profitability forecasting model which incorporates two major improvements relative to extant models...
Keywords: Statistical significance
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CEO Personal Investment Decisions and Firm Risk
Wei Cen*, John A. Doukas
ARTICLE | European Financial Management | Vol. 23, 2017
We develop a novel method of measuring CEO risk preference based on their personal allocation of deferred compensation funds, and find CEOs holding more volatile deferred compensation portfolios lead riskier firms...
Keywords: CEO deferred compensation, CEO risk preferences, financial crisis, Firm risk, Inside debt
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Relative Effects of Forward and Backward Planning on Goal Pursuit
Jooyoung Park*, Fang-Chi Lu, and William M. Hedgcock
ARTICLE | Psychological Science | Vol. 28, 2017
Considerable research has shown that planning plays an important role in goal pursuit But how does the way people plan affect goal pursuit?...
Keywords: Order of planning, Goal pursuit, Time pressure, goal expectancy, Motivation, Open materials
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Sticky Dividends: A New Explanation
Chang Yong Ha, Hyun Joong Im*, Ya Kang
ARTICLE | Finance Research Letters | Vol. 23, 2017
This study proposes a generalized partial adjustment model of dividends in which managers set target dividends based on adaptively-formed earnings prospects...
Keywords: Payout policy, Speed of adjustment, Dividend dynamics, Adaptive expectations
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The Impact of Pay-for-Performance Perception and Pay Level Satisfaction on Employee Work Attitudes and Extra-role Behaviors: An Investigation of Moderating Effects
Ting Ren, Ruolian Fang, Zhen Yang
ARTICLE | Journal of Chinese Human Resource Management | Vol. 8, 2017
Results show that PFP perception and pay level satisfaction are significant predictors of work attitudes and extra-role behaviors...
Keywords: Motivation, Perception, Attitudes, Pay policies
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Exploring Consumer Evaluations in Social Media: The Role of Psychological Distance between Company and Consumer
Sunghun Chung, Jooyoung Park*
ARTICLE | Computers in Human Behavior | Vol. 76, 2017
While social media has emerged as a key source of information used by consumers in their attitude formation, whether and how companies build a psychological distance with customers has not been thoroughly examined...
Keywords: Social media, Morality, Competence, Psychological distance, Public relations, Ambivalence
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The Impact of Personal Bankruptcy on Labor Supply Decisions
Daphne Chen, Jake Zhao
ARTICLE | Review of Economic Dynamics | Vol. 26, 2017
The Chapter7 bankruptcy code was motivated by the notion of a “fresh start,” which was justified in part by the Supreme Court on the grounds that it would encourage work incentives...
Keywords: Chapter7 bankruptcy, Chapter13 bankruptcy, Employment, Labor supply
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The Total-Factor Energy Efficiency of Regions in China: Based on Three-Stage SBM Model
Haifeng Huang, Tao Wang*
ARTICLE | Sustainability | Vol. 9, 2017
This paper constructs a three-stage Slacks-Based Measure (SBM) model to evaluate and analyze the total-factor energy efficiency (TFEE) of 276 cities in China during the period of 2000-2012 from the management and environment dual perspectives according to...
Keywords: Three-stage SBM model, Energy, Spatial spillover, Imbalance, Efficiency
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Could the Extended Trading of CSI 300 Index Futures Facilitate Its Role of Price Discovery?
Sungbin Sohn*, Xiaofeng Zhang
ARTICLE | Journal of Futures Markets | No.7, Vol. 37, 2017
This study examines the role of extended CSI 300 Index futures trading in price discovery...
Keywords: CSI 300 Index futures trading, Price discovery
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The Impact of Word of Mouth via Twitter On Moviegoers' Decisions and Film Revenues Revisiting Prospect Theory: How WOM about Movies Drives Loss-Aversion and Reference-Dependence Behaviors
Yeujun Yoon, Young Joon Park
ARTICLE | Journal of Advertising Research | Vol.57, 2017
this study drew on the existing decision process theory to empirically examine the effect of word of mouth (Wom) generated by social media...
Keywords: Loss aversion, Reference dependence effect
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Heterogeneous Risk/Loss Aversion in Complete Information All-pay Auctions
Zhuoqiong (Charlie) Chen , David Ong , Ella Segev
ARTICLE | European Economic Review | Vol. 95, 2017
We extend previous theoretical work on n-player complete information all-pay auctions to incorporate heterogeneous risk- and loss-averse utility functions...
Keywords: All-pay auction, Risk aversion, Loss aversion
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Relating CEO Leadership Behavior and Organization Culture in the India Context
Terrill L. FRANTZ, Ajay JAIN
ARTICLE | Leadership and Organization Development Journal | Vol.38, 2017
Purpose--The purpose of this paper is to examine the relationship between CEO leadership behavior and the culture...
Keywords: India, Organizational culture, Indian work context, CEO leadership behaviour
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Performance Share Plans: Valuation and Empirical Tests
Craig W. Holden, Daniel S. Kim
ARTICLE | Journal of Corporate Finance | Vol. 44, 2017
Performance share plans are an increasingly important component of executive compensation...
Keywords: Performance share plans
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Reporting a Network's Most-Central Actor with a Confidence Level
Terrill L. FRANTZ*, Kathleen M. Carley
ARTICLE | Computational and Mathematical Organization Theory | Vol. 23, 2017
This article introduces a confidence level (CL) statistic to accompany the identification of the most central actor in relational,...
Keywords: Confidence level, Centrality, Missing data, Social networks
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Uncertainty and the Value of Cash Holdings
Hyun Joong Im, Heungju Park, and Gege Zhao
ARTICLE | Economics Letters | Vol. 155, 2017
We find that a firm facing higher uncertainty has a higher value of cash...
Keywords: Uncertainty, Value of cash
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Dynamics of Analyst Forecasts and Emergence of Complexity: Role of Information Disparity
Chansoo Kim, Daniel S. Kim, Kwangwon Ahn, M. Y Choi
ARTICLE | PLOS ONE | No. 5, Vol. 12, 2017
We report complex phenomena arising among financial analysts, who gather information and generate investment advice, and elucidate them with the help of a theoretical model...
Keywords: Complexity, Information disparity
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Family Linkages, Social Interactions, and Investment in Human Capital: A Theoretical Analysis
Qing Wang, Xiangrong Yu
ARTICLE | Journal of Comparative Economics | Vol.45, 2017
This paper introduces parent-child interactions into the Beckerian model of human capital...
Keywords: Family Linkages, Social Interactions, Investment in Human Capital: A Theoretical Analysis
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Impact of the Medicaid Expansion on U.S. Health Services Firms: Evidence from the 2010 Affordable Care Act
Daeyong Lee*, Fan (Alicia) Zhang
ARTICLE | Finance Research Letters | Vol. 21, 2017
This article examines how the Medicaid expansion of the 2010 Affordable Care Act (ACA)affected firm performance in the health services industry...
Keywords: Medicaid expansion,Affordable care act,Return on assets,Tobin’s q,Return on equity,Health services industry