The efficient decentralized provision of public goods requires that special interest groups, such as municipal unions, do not exercise undue influence on the outcome of municipal elections and local fiscal policies. We develop a new political economy model in which a union can endorse one of the...

Which is better for a small firm: debt financing or equity financing? A simple intertemporal model suggests that the two have very different potential incentive problems. With equity financing, the manager (an employee) may expend too little effort, while with debt financing, the manager (the...

This paper extends Noe's (2002) model of large shareholder activism in two directions.First, it considers a framework in which large shareholders can not only choose when to monitor, but also how intensively they want to monitor the firm. Second, it onsiders the impact of laws and regulations by...

The Mekong River’s natural resources offer large benefits to its populations, but it also attracts the interest of foreign investors. Recently, Chinese firms, banks and government bodies have increasingly invested in large hydropower projects in the Greater Mekong Sub-Region. Due to China’s...

The present study tested the mediating role of emotional intelligence in the impact of mindfulness on life satisfaction and mental distress in a sample of Chinese adults and the widespread or limited mediators between the different groups in demographic factors, e.g., gender, students and...

Low-temperature aluminizing coating was prepared onto the surface of oil casing steel N80 with a magnetron-sputtered Al film to improve its corrosion resistance. Results show that magnetron-sputtered Al film is able to form gradient aluminide coating, composed of iron aluminide FeAl3, Fe2Al5 and...

The service industry in China is underdeveloped, in comparison with not only the past experience of developed countries at the similar level of GDP per capita, but also other similar developing countries at present. We define this deviation of China¡¯s service industry from the development...

Different aluminide coatings were prepared on oil casing steel N80 at a relatively lower temperature of 530°C for 2 h by pack powder modified with different content of zinc (Zn). The cross-sectional microstructure, element distribution and properties of as-aluminized oil casing steel N80 were...