Firm survival is not random: it depends on firm performance. This fact has been neglected in prior studies that assess firms’ long-run abnormal performance. I show that, because of non-random survival, a legitimate long-run abnormal performance measure (1) should assign equal weights to each...

The conversion of CO2 usually requires high temperature, high pressure and long reaction time, due to its chemical stability and gas-liquid mass transfer resistance. Based on the micro interfacial effect, the nano-micro interface reaction units (NMRUs) were designed and prepared for the...

The implementation of the thermal mass of envelope and intelligent controls to the building is a key solution to improve energy flexibility. This study researched the energy flexibility of PCM-based multi-layer wall (PCMMW) from systematic nature of building design and operation control. A new...

Solar-driven interfacial evaporation is considered a promising solution to water pollution and water shortages, potentially reducing heat loss and improving energy conversion efficiency. However, the current photothermal films used for solar-driven interfacial water evaporation have some issues...

This paper implements empirical tests of the recently proposed float-adjusted return model by using Chinese stock-market data. The results show that variation in free float can explain cross-sectional variation in asset returns by about 6.7% annually, after we control for market risk, size, and...

Using live cattle production data from 1995 to 2001, we investigated live cattle supply represented by both net placement and marketings with two price expectation models, naïve and futures. The results show significant evidence of different price expectations when cattle feeders make decisions...

Using actual retail data, this study is intended to profile consumers' social economic characteristics related to the growth of the fresh organic produce market with a generalized double-hurdle model. The nested test shows that the above model performs significantly better than Cragg's...