As an effective policy instrument to reduce CO2 emissions, the effects of a carbon tax on distribution have been the critical factor in determining whether a carbon tax will be acceptable in China. Taking Shanghai as an example, which is the economic center and front-runner of China, this paper...

Prior literature shows that earnings have come to explain less stock price movement over time, suggesting that firm fundamental information has become less important. In this paper, we replace earnings with earnings announcement returns as a measure of firm fundamental news and find that these...

Prior literature shows that earnings have come to explain less stock price movement over time, suggesting that firm fundamental information has become less important. In this paper, we replace earnings with earnings announcement returns as a measure of firm fundamental news and find that these...

Motivated by the growing importance of ancillary revenues in the airline industry, we propose a statistical model for Advanced Seat Reservation (ASR). We focus on the questions of whether, when and which seats are selected by passengers. To answer these questions, we employ a discrete time...