Insufficient O2 concentration in the matrix pores, which is adjusted by air-immobile regions in compost piles, is a main factor in forming anaerobic cores in compost particles and then generating harmful off-gases during composting. However, it is unclear how the change of air-immobile regions...

Evaluating corporate digital transformation through keyword frequency of digital transformation in annual reports is a commonly used method. However, this method often overlooks negation words and forward-looking words around the keywords of digital transformation, leading to inaccurate...

We study an optimal information/mechanism design problem for selling an object to a number of privately informed bidders, in which the winning bidder competes with a third party under differentiated Cournot competition afterwards. We show how to decompose the problem into two sub-problems:...

With the unique data on Chinese listed companies’ online sales through e-commerce platforms from 2015-2020, this paper investigates the impact of online sales on firms’ debt financing costs. The results show that online sales significantly reduce firms’ debt financing costs, and the...

In empirical asset pricing, traded candidate factors can be either on the left- or right-hand side of the factor model as an anomaly or true risk factor, because anomalies should be explained by the set of risk factors with zero intercepts --- pricing errors. This unsupervised factor selection...