Effective utilization of scarce water resources has presented a significant challenge to respond to the needs created by rapid economic growth in China. In this study, the efficiency of the joint operation of the Three Gorges and Gezhouba cascade hydropower plants in terms of power generation...

Lease financing is a well-recognized mechanism for reducing the agency costs of debt. This study examines whether firms that attempt to control the agency costs of equity through strong governance structures, including Chief Executive Officer compensation alignment and board structure, are more...

"We investigate the motives for executives to exercise executive stock options on the options' vesting date versus a later early exercise. We find that executives frequently exercise on the vesting date, executives with a greater need for portfolio diversification and riskier underlying stocks...