In this paper we examine the time-series predictability of the book-to-market (B/M) ratio for annual and monthly portfolio returns in the Chinese stock market. We find that value premiums exist throughout our sample period of 1998 to 2008. However, the predictability of B/M appears to be...

This paper provides direct evidence on the effect of quantitative easing (QE) policies on bank lending through the liquidity channel. By looking at changes in banks' liquidity-lending sensitivity in different rounds of QE, our results show that banks with higher levels of cash & reserve holding...

This research explores the effects of securitization on the market's perception of banks' risk exposure between 2002 and 2007. Our results show that, contrary to some prior evidence in the literature, securitizing banks actually had lower systematic betas until 2007. We find no evidence of...

To manage the traffic impact of construction projects, the Chinese government requires the project approval procedure that should include a Traffic Impact Analysis (TIA). Using a case study, we illustrate how the TIA tool being applied in the procedure, and evaluate its effectiveness in terms of...

Does state ownership breed risk-taking behavior in commercial banks? This paper examines this issue using a panel of Chinese banks. We find that state-ownership is in general associated with higher risks. In addition, we find that banks controlled by the central government have the highest...

In this paper, we investigate the impact of vertical product differentiation on exchange rate pass-through (ERPT). We define product vertical differentiation as a spectrum of products that range from high end to low end. Using a comprehensive dataset that includes highly disaggregated products...

This article examines how changes in US metropolitan spatial structure lead to an increase in measurable excess commuting and a decrease in measurable transport—land use connections. Using Boston and Atlanta as two comparative regions, this research computes excess commuting with...

The change in commuting time in the process of spatially decentralized development has generated debates on the commuting impacts of spatial decentralization. Using Atlanta and Boston as two sizable but contrasting regions, this research compares commuting and urban spatial structure across...

It has been widely reported that individual travel has significant implications for obesity. In this research we try to clarify the connection between travel and obesity from an individual energy-expenditure perspective. It is hypothesized here that individual travel affects the likelihood of...

This research aims to inform the compact city discussion with a case study of Beijing, where urban planning has emphasised clustered suburban development in the past half-century. It uses three decades of census data to describe Beijing’s spatial development trajectory and a household survey...