This paper investigates the effect of private pensions on the retirement wealth distribution. The model incorporates stochastic private pension coverage into a lifecycle model with stochastic earnings. The predictions of the calibrated model are compared to the distribution of retirement net...

On the premise that the expropriation of corporate assets by controlling shareholders would generate a residual loss, we studied how the laws of investor protection influenced on the decentralization of corporate ownership and what role the litigation cost play in this story by continuous time...

Protecting value-relevant information is becoming increasingly important and challenging as we move towards a knowledge-based economy and partners along the supply chain are more closely intertwined. We document three customer-supplier characteristics (i.e., customer R&D intensity, patent...

We find a negative relation between hedge fund manager’s personal income tax rates and fund performance. Using changes in tax deferral regulation or state-level tax rates suggest causality in the tax-performance relation. Managers are less likely to hold stocks with greater information...

Bimetallic and magnetic hollow spheres (FeCo@C) are developed and serves as highly efficient catalysts for removal of organic contaminants. In comparison to Fe@C and Co@C, FeCo@C exhibited a superior activity for removal of Orange G (OG) with extremely low concentration of FeCo@C (50.0 mg/L) via...