Textbook theory posits that multinational firms are large and diversified and should have higher debt capacity. In contrast, debt capacity of such firms can be expected to be lower because of the additional risks of foreign operations. This puzzle is unresolved by the empirical literature. Also,...

Recently, concerned with enhancing our supervision of self- employed youth, we investigated the situation of small businesses run by self-employed youth in Wuxi City. We have had extensive meetings with all levels of business associations, self-employed workers' associations (SEWAs), tax and...

The financial rates of return from Latin American stock and currency markets are found to be non-normal, non-stationary, non-ergodic and long-term dependent, i.e., they have long memory. The degree of long- term dependence is measured by monofractal (global) Hurst exponents from wavelet...

Chapter 1 of the dissertation investigates the firms’ restructuring choice betweenminority carve-outs and tracking stocks using samples during 1990-2001. The extracompensation from the restructured units, the liquidity conditions, and the preservation ofsynergy are the significant factors...

In this paper, we examine factors influencing the choice between tracking stocks and minority carve-outs and their performances. We expand the research in this field by incorporating a fa ctor that was largely ignored in extant literature: managerial entrenchment. We find that the following...

Chapter 1 of the dissertation investigates the firms' restructuring choice between minority carve-outs and tracking stocks using samples during 1990-2001. The extra compensation from the restructured units, the liquidity conditions, and the preservation of synergy are the significant factors...

This paper compares the changes in implied volatilities of options on Nasdaq 100 and Russell 2000 value and growth portfolios. Following Stein (1989) and Heynen, Kemna, and Vorst's (1994), we assume mean reversion, GARCH and EGARCH models for volatility. The empirical evidence using put options...

The thermal performance of a solar thermosyphon system for water heating depends on its design characteristics and manufacturing quality. For product improvement and quality control purposes, standardized tests are performed and system characteristic parameters are determined through statistical...

As natural gas becomes increasingly important in our daily life, studies have been carried out on trace elements such as mercury and arsenic within it. Other than those, the existence of radioactive gaseous radon from the combustion of natural gas indoors can cause severe diseases and damages to...

The development mode of mid-small cities in northern Jiangsu is analyzed on the Growth Pole theory. Depending on scales, endowment of resources, geographical positions, and industrial advantages of mil-small cities, we can divide the development mode of those mid-small cities within this context...