Regime-switching models have been widely used in many areas such as finance, biomedicine, and healthcare. However, the computations under these models are usually challenging due to the complexities incurred by regime changes. We provide a unified analytical approximation framework for accurate...

Purpose: The effect of board intellectual capital on non-profit organizational performance in non-western, less developed economies has been an important yet under-researched area. Given that the institutional and business relationships of a board account for the majority of board intellectual...

By merging transaction-level trade data from China Customs and loan data from the China Development Bank (CDB), we analyze the effects of government credit on trade activities. We find that CDB credit mainly flows to SOEs in strategic industries at the top of the supply chain. These up-stream...