Ride-sourcing companies have been widely using threshold-based incentive programs to encourage drivers to extend their working hours. In such programs, a driver receives a certain amount of monetary reward if he/she completes a given supply task within a predetermined time window. However,...

In modern societies, employment has not only economic functions, such as income creation, but also social functions, such as alleviating inequality or enhancing social stability (high unemployment threatens social stability). Since utilities stemming from the social functions of employment...

Making appropriate regulatory incentive policies for facilitating enterprises to implement green technology innovation while supporting their transformation and upgradation is critical for green credit development. To investigate how the government selects appropriate supervision incentive...

A portfolio-based aggregation method is proposed to construct asset class and portfolio liquidity risk indicators. The asset class indicators are constructed by aggregating financial, monetary and credit variables to measure the presence of (il)liquidity in the Equity Europe, Long Term Italian...

This paper proposes IV-based estimators for the semiparametric distribution regression model in the presence of an endogenous regressor, which are based on an extension of IV probit estimators. We discuss the causal interpretation of the estimators and two methods (monotone rearrangement and...

Individuals have an increased incentive to invest when they know that they can sell their investments whenever they need funds. However, such an increase in investments reduces the returns by exacerbating the negative externalities individuals impose on each other whenever they invest. As a...

Optimal execution and trading algorithms rely on price impact models, like the propagator model, to quantify trading costs. Empirically, price impact is concave in trade sizes, leading to nonlinear models for which optimization problems are intractable and even qualitative properties such as...

Demand complementarity emerges when the outputs of firms from distinct industries are used by similar end-users. This paper constructs a measure of the pairwise demand complementarity of firms and examines whether demand complementarity is a key determinant in mergers and acquisitions. Under our...

Microfinance institutions (MFIs) are crucial in enhancing financial inclusion in developing countries. Nonetheless, one of their main challenges is their ability to be profitable while serving the poor and the excluded, especially during bad times. Accordingly, this study aims to determine...