We investigate the effects of analysts' affiliation and reputation on dealers' market making activities. We find that, for a given stock, dealers who have affiliated analysts covering the stock quote and trade more aggressively than those who do not have any affiliated analysts. More...

Since 2000, Business Ethics magazine has published a list of the 100 Best Corporate Citizens. Our event study finds significant positive abnormal returns for new companies added to the annual listing on the press release date of the survey, both initially and in subsequent survey releases. Over...

In this paper, we divide the labor into skilled and unskilled labor to investigate the impact that the heterogeneous labor movement between sectors has on the environment under the international skilled and unskilled labor flows and the price change of the agricultural products. The main...

A fast and accurate method for pricing early exercise and certain exotic options in computational finance is presented. The method is based on a quadrature technique and relies heavily on Fourier transformations. The main idea is to reformulate the well-known risk-neutral valuation formula by...

Abstract A scoring rule is proper if it elicits an expert's true beliefs as a probabilistic forecast, and it is strictly proper if it uniquely elicits an expert's true beliefs. The value function associated with a (strictly) proper scoring rule is (strictly) convex on any convex set of beliefs....

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...

Assessment on net energy, external cost of carbon dioxide (CO2) emissions and cost of using cassava-based ethanol as an alternative automotive fuel has been conducted based on its holistic life-cycle, from feedstock production (source) to fuel combustion. And, a new indicator, figure of merit...

In this paper, the structure and control tasks are briefly summarized for ORC (Organic Rankine Cycle) based WHECSs (waste heat energy conversion systems). A control-oriented physical model is established for WHECSs. The energy conversion efficiency of ORC systems is investigated. A constrained...

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....