Recently, not only academic researchers but also many practitioners have used the methodology so-called "an asymptotic expansion method" in their proposed techniques for a variety of financial issues. e.g. pricing or hedging complex derivatives under high-dimensional stochastic environments....

This paper develops a new approximation formula for pricing basket options in a local-stochastic volatility model with jumps. In particular, the model admits local volatility functions and jump components in not only the underlying asset price processes, but also the volatility processes. To the...

This study examines the impact of board gender diversity on corporate environmental strategy and financial performance. Based on 12 corporate environmental policies in 3389 firms worldwide, we identified four types of corporate environmental strategies by using the latent class regression model:...

This paper discusses the economic impacts of climate change, including those on ecosystems, and whether a new backstop technology should be used under conditions of strict temperature targets. Using the dynamic integrated climate-economy (DICE) model, we developed a new model to calculate the...

This study investigated the relationship between corporate efficiency and corporate sustainability to determine whether firms concerned about environmental, social and governance (ESG) issues can also be efficient and profitable. We applied data envelopment analysis to estimate corporate...