Purpose–The purpose of this paper is to investigate the influence of idiosyncratic risk on firm decisions. Design/methodology/approach -By introducing managerial ownership as a key variable, the paper presents a parsimonious model to describe the consequences of idiosyncratic risk on firm...

Employing a recently developed method-mixed data sampling (MIDAS) approach - to assess the risk-return trade-off for Chinese stock markets, our results are striking. First, we fail to find any evidence of the risk-return trade-off in the first subsample (Jan 1993¨CJan 2001), while we do find...

This paper analyzes the endogeneity of licensing arrangements in cost-reducing cumulative innovation. There exists the following results. First, for the first-generation patentee, ex post licensing matters for rent extraction while ex ante licensing matters for efficiency. Second, if the...

The competition power of the Agricultural Bank of China has been dropping down for several years. The reason is that banks at the grass-roots level don’t think much of managing the subtle links. The paper uses the theory of butterfly effect in Chaos for reference to discusses the risks existed...

The paper realizes a topological superconductor (TSC) in correlated topological insulator – the interacting spinful Haldane model. The electrons on the Haldane model with on-site attractive interaction are studied based on mean field theory and random-phase-approximation (RPA) approach. In the...