Applying a “co-coverage” concept to the Dow Jones Newswire articles, we propose to identify each firm's news-based peers (NBPs) and thereby construct a time-varying firm-centric grouping aimed to augment existing industry classification schemes. The advantage of NBP-augmented schemes over...

China's rising demand for natural resources and its growing presence in many poor and resource‐rich countries have been criticized for promoting neo‐colonialism in the 21st century. Using panel data for 135 developing countries from 1995 to 2007, the present paper empirically evaluates the...

A more market-oriented labor market has emerged in China in the past twenty years with growing importance of the urban private sector, as state-owned enterprises have downsized. Despite the progress on reforms, a sizable surplus of labor still exists in the rural sector and state-owned...

The overall goal of this research is to empirically analyze shrimp fishermen behavior to help improve the management of the Gulf of Mexico shrimp fleet. Given that optimal management requires consideration of more than the net benefits derived from shrimp harvesting, this research also seeks to...

Using Japanese economic data and a Monte Carlo simulation, this study analyzes the consequences of ignoring deterministic trends in mixed unit-root data for Granger noncausality tests. Results from an augmented VAR suggest over-rejection in certain empirically relevant cases at various sample sizes.

This paper provides empirical evidence that reference-dependent preferences help to explain the amount of effort exerted by shrimpers in the Gulf of Mexico. Using survival analysis, the authors find that shrimpers tend to prolong their trip when their current trip revenue goal remains...

Location choice is one of the most important short-run decisions made by commercial fishermen. Previous studies of location choice by commercial fishermen have focused primarily on site fidelity, profit-maximization behavior, and risk attitudes as factors influencing their location choice...

The paper studies the impacts of livestock facilities on property values, and extends the hedonic housing price models by explicitly modeling the way odor is dispersed in the atmosphere. Using a Gaussian dispersion model of odor, our estimation allows us to separately estimate the environmental...