This paper introduces a new disturbing element, the bubble asset, into the basic financial accelerator model by Bernanke et al. (1999). Through a contract between an entrepreneur and a financial intermediary, the optimal leverage ratio becomes an increasing function of bubble surviving...

Although prior studies have shown that consumers who perceive brand authenticity are more likely to spread word-of-mouth (WOM) recommendations, the underlying explanatory mechanism in the context of souvenir products in tourism remains unclear. To fill this gap, this study presents a...