Purpose - Under the background of the overall increase of China's economic policy uncertainty and the urgent need for the transformation and upgrading of the substantial economy, this paper studies the time-varying causality between China's economic policy uncertainty and the growth of the...

Purpose - In recent years, China's marine industry has maintained rapid growth in general, and marine-related economic activities have continued to improve. The purpose of this research is to analyze the basic situation of China's marine economy development, identify the problems therein,...

Employment growth (EG) is likely related to liquidity fundamentals of investment opportunities, firm health, and information environment. This, in turn, implies that liquidity risk may play a role in explaining the relation between employment growth and stock returns. We explain the link between...

There exists one potential source which has not obtained full treatment in the recent consumption literature: a negative wealth constraint (NWC). An economic agent who faces the NWC can borrow up to a certain proportion of the present value of labor income. We present an analytically tractable...

In this paper we generalize the following result of McDonald and Siegel (1986) on optimal investment: it is optimal for an investor to invest when project cash flows exceed a certain threshold. We have other results that refine or extend the result of McDonald and Siegel (1986) by integrating...

This paper is an overview of how insurance instruments could be used in Indonesia to improve disaster risk finance (the arrangements for managing the financial consequences of disaster). We review the policy and research literature to describe the existing arrangements in Indonesia for preparing...

This paper presents an entrepreneurial optimal business plan in which optimal consumption and portfolio rules, and optimal exit strategy for an entrepreneur are jointly determined in the presence of undiversifiable idiosyncratic risk. We find that the entrepreneur is more likely to exit from her...

We examine the financial reporting quality of Special Purpose Acquisition Corporations (SPACs) following a successful merger. We compare a sample of SPACs with completed mergers from 2006-2020 to initial public offering (IPO) firms in the same industry covering the same period. Compared to...