We investigate cartelists' merger behavior using European Commission (EC) cartel decisions over a 28-year span and information on cartelists' merger activities over the last 30 years. We find that mergers occur frequently but that they cluster in a few particular industries and usually include...

This paper presents a macroscopic dynamic modeling framework for road traffic emissions in an urban city that has numerous central business districts (CBDs). The framework combines a two-dimensional (2D) continuum dynamic traffic assignment (DTA) model that captures macroscopic features of...

Black-odor water not only completely loses the function, but also seriously affects the environment landscape and human health. Aiming at the problems of high cost and low activity of catalysts for black-odor waters treatment by catalytic ozonation technology, this paper fabricated a stable...

In 2018, the price index of the Chinese A-share market experienced a turbulent loss, exposing many privately listed companies with share pledges to liquidation risk, which might then lead to systematic risks. The central Government encouraged local governments and financial institutions to set...

This paper examines the impact of the COVID-19 pandemic on the adjustments of dividends and share repurchases of publicly listed firms in the G-7 countries. Firms in the United Kingdom, Germany, France, and Italy experienced a widespread cut in dividends, while firms in the United States and...

In a “perfect” market, Miller and Modigliani's celebrated dividend irrelevance argument holds, whereby a dividend payment or omission is identical in impact to changes in a firm's share structure. Consequently, the dividend payment itself is irrelevant to valuation; what matters is the...

We examine the difference in cash holdings between high-tech and non-high-tech firms from 1974 to 2007. The average cash-to-assets ratio of non-high-tech firms remained stable throughout the period. In contrast, the average cash ratio of high-tech firms more than tripled from 1980 to 2007. This...

Recently, aqueous Zn/MnO2 batteries have attracted considerable attention due to their safety, low cost, and environmental friendliness. However, capacity decay caused by Mn dissolution greatly limits their further development. Herein, LiTFSI is employed as an electrolyte additive to inhibit...