China's Industrial Transfer Policy (ITP) is a novel place-based development policy of unprecedented scale. The policy targets a set of inland cities aiming to i) grow them in size and ii) restructure them into manufacturing hubs. These cities would eventually relieve pressure in China's coastal...

This paper presents a new explanation for the prevalence of convertible security in venture capital finance. By modeling two-sided asymmetric information between entrepreneur and venture capitalist, we prove that convertible security can implement the optimal contract. Comparative statics shows...

The twisted Wang transform distribution family, defined as the composition of parameter shifted inverse CDF function with an original CDF function, is found to be most suitable for matching low shape factor distributions, characterizing hard to fit or to simulate reinsurance portfolio losses for...

Probability distributions with identical shape factor asymptotic limit formulas are defined as asymptotic equivalent distributions. The GB1, GB2, and Generalized Gamma distributions are examples of asymptotic equivalent distributions, which have similar fitting capabilities to data distribution...

This paper presents a new explanation for the prevalence of convertible bond in venture capital finance. By modeling two-sided asymmetric information between entrepreneurs and venture capitalists, we prove that convertible bond can implement the optimal contract. The optimal conversion ratio...