In this paper we propose a framework for measuring and stress testing the systemic risk of a group of major financial institutions. The systemic risk is measured by the price of insurance against financial distress, which is based on ex ante measures of default probabilities of individual banks...

This study investigates the interaction between suppliers and fraudulent customer firms from the perspective of reputation damage and reputation recovery. Specifically, reputation damage from the regulatory penalty for corporate fraud induces the trust crisis and suppliers respond to fraudulent...

China has achieved rapid economic growth and international trade development through integration into global value chains (GVCs). However, integration has also resulted in massive greenhouse gas emissions, aggravating the pressure imposed by global climate change. Based on the World...

Nitrogen-polluted wastewater posed great threat to the environment and human beings. Bismuth-based materials have presented high potentials for wastewater treatment. However, it suffers from unsatisfactory electrocatalytic efficiency, especially for nitrate-N removal. Considering the superior...