This paper develops a model in which market structure is determined endogenously by the choice of intermediation mode. We consider two representative business modes of intermediation that are widely used in real-life markets: one is a middleman mode by which an intermediary holds inventories...

Drawing on the perspectives of perceived value and trust, this study examines the factors affecting Chinese users' intention to use facial recognition payment (FRP) service. Data collected from 1200 Chinese mobile payment users is analyzed by using structural equation modelling. Results show...

Using a large hand-collected dataset, we provide novel evidence on the additional information embedded in the designs and graphs of financial reports. We find that firms that add graphic financial reports experience a positive 2.7% abnormal returns in the following 3 to 6 months. The finding...

ASEAN stock markets have experienced episodes of long price run-ups followed by large drops over the past 20 years. These apparent bouts of boom and bust have prompted the popular press to conjecture the presence of speculative asset bubbles in these markets causing stock prices to deviate from...

A simple model is proposed to mimic and study the evolution of interpersonal relationships in a student class. The small social group is simply assumed as an undirected and weighted graph, in which students are represented by vertices, and the depth of favor or disfavor between them are denoted...

System dynamics models are employed for analyzing the impact of different uncertainties on carbon emission trading–both on national and business levels. Economic, institutional and technological uncertainties significantly influence any country's benefits from emission permit trading. If a...