This article develops a model in which an intermediary uses a supply chain finance (SCF) program to fund suppliers. The SCF program pools liquidity from suppliers and meanwhile provides immediate payment to suppliers with pressing liquidity needs. We show that the intermediary optimally selects...

This paper examines the relation between firm social network and corporate payout policies. We find that while it does not significantly affect total payout, firm network centrality significantly impacts payout compositions. Firms with greater network centrality are less likely to pay dividends...

Many goods and services are allocated through various booking systems. Queue-based booking systems are often thought to allocate goods more efficiently than random allocation because the time spent queuing signals an agent's valuation. This paper demonstrates that the opportunity cost of queuing...

During the first wave of the COVID-19 pandemic, Shanghai implemented lockdown measures to stop transmission of the virus. Over 26 million residents, including 0.8 million children aged 3-6, were confined at home. This study leveraged a city-wide cohort of preschool children - the Shanghai...