Systemic risk is a key concern for central banks charged with safeguarding overall financial stability. In this paper we investigate how systemic risk is affected by the structure of the financial system. We construct banking systems that are composed of a number of banks that are connected by...

The Nanjing Massacre (1937–1938) has been rewritten by two controversial Chinese hits aimed at the global market: City of Life and Death (2009) and The Flowers of War (2011). Directed, respectively, by the rising director Lu Chuan and the internationally renowned “Fifth Generation”...

The electricity to thermal energy output ratio is an important impact factor for the operating modes and performances of combined cooling, heating and power (CCHP) systems. If the energy requirements of users are managed to just match this ration, the system efficiency would reach the maximum....

The control system of boiler-turbine unit plays an important role in improving efficiency and reducing emissions of power generation unit. The nonlinear, coupling and uncertainty of the unit caused by varying working conditions should be fully considered during the control system design. This...

The purposes for this study are: 1) To examine the influence of the management style of restaurant affiliation (chain and independent restaurants) on the relationships between organization citizenship behavior and three factors: a. part-time employee’s perceived supervisor support, b....

With an increasingly integrated global financial system, we frequently observe that shocks to individual asset markets affect financial markets worldwide. The aim of this paper is to quantify the comovement between bond markets in the US and emerging market economies. Following Rigobon (2003),...

This paper addresses a very European issue, the consolidation of securities trading and settlement infrastructures. In a two-country model, we analyse welfare implications of different types of consolidation. We find that horizontal integration of settlement systems is better than vertical...

In this study we incorporate sticky rents into a real options model to rationalize the widely documented overbuilding puzzle in real estate markets. Given the assumption that developers' objective function is to maximize total revenue by selecting an optimal occupancy level, our model provides a...

This paper addresses a very European issue, the consolidation of securities trading and settlement infrastructures. In a two-country model, we analyze welfare implications of different types of consolidation. We find that horizontal integration of settlement systems is better than vertical...

This study explores the impacts a presale contract has on a developer's pricing and production decisions in a game theoretical framework. In an environment where developers have full capital market access, the findings reveal that both developers and buyers are indifferent between a presale and...