This article tests for the random walk hypothesis in the four Chinese stock markets of Shanghai "A," Shanghai "B," Shenzhen "A," and Shenzhen "B" and explores the impact of the market liberalization that occurred in 2001 on the efficiency of these markets. Empirical results show that the market...

In this paper, in order to solve semismooth equations with box constraints, we present a class of smoothing SQP algorithms using the regularized-smooth techniques. The main difference of our algorithm from some related literature is that the correspondent objective function arising from the...

With the rapid economic growth in most Emerging Market Countries, the energy intensity showed a striking decline. To explore this energy puzzle, we evaluated energy intensity reduction in 30 Emerging Market Countries, which were referred to as E30 in this paper. A combined conceptual analysis...

Improving the aggregate energy efficiency is consequential for China's sustainable development and carbon dioxide reduction, but there lacks a systematic analysis of China's energy intensity long-term changes. China's energy intensity fell sharply by 74.7% with great heterogeneity across regions...