To examine the impact of capital endowment and credit constraint on firms¡¯ FDI decisions, we build a model of investment portfolio based on heterogeneous firms setup. We find that financial factors matter for firms¡¯ internationalization. More capital endowment or less credit constraint...

This study investigates how heterogeneous firms choose their lenders when they raise external finance for Foreign Direct Investment (FDI) and how the choice of financing structure affects FDI activities. We establish an asymmetric information model to analyze why certain firms use private bank...

Based on a heterogeneous firm set-up, we model firms’ access to the internal capital market, bank finance as well as bond finance and investigate how firms’ adjustment among multiple sources of finance affects their performance in foreign direct investment and aggregate industry...

When planning for the evacuation guidance, how to efficiently set the trained evacuation leaders is an important problem which has great impact on the evacuation process. This paper investigates the effect of the number and positions of evacuation leaders on the evacuation dynamics in rooms with...

Recommendation systems have been proposed to filter out the potential tastes and preferences of the normal users online, however, the physics of the time window effect on the performance is missing, which is critical for saving the memory and decreasing the computation complexity. In this paper,...

Online users’ collective interests play an important role for analyzing the online social networks and personalized recommendations. In this paper, we introduce the information entropy to measure the diversity of the user interests. We empirically analyze the information entropy of the objects...

This paper examines the impact of financial development on exporter survival in foreign markets with Chinese firm-level data over the period 1998-2008. We measure financial development using the size, lending efficiency, term structure of bank loans and degree of state intervention in financial...