Agglomeration brings costs (e.g., intensified local competition) as well as benefits (e.g., knowledge spillover). It is important to examine the net impact of agglomeration to understand the geographic distribution of economic activities. In this study, we use firm markup (defined as the ratio...

In this paper, we investigate whether there is a pollution haven effect, specifically, the effect of environmental regulations on firm location. Our identification uses the Two Control Zones (TCZ) policy implemented by the Chinese government in 1998. The difference-in-differences (DID)...

We are living in an increasingly globalized world yet with constant and endless conflicts among countries. While studies have uncovered the impacts of various economic factors and policy regimes on trade and investment, a much less understood issue is whether conflicts among countries have any,...

We study the modeling of large data sets of high frequency returns using a long memory stochastic volatility (LMSV) model. Issues pertaining to estimation and forecasting of large datasets using the LMSV model are studied in detail. Furthermore, a new method of de-seasonalizing the volatility in...

Firm diversification across unrelated businesses is prevalent in many emerging economies, in contrast to the practices in developed economies. A fundamental difference between these two types of economies concerns with the existence of sound economic institutions including in particular the...

Recent studies have confirmed that store layout influences a shopper’s movement, purchasing behavior, and preference. However, the systematic and quantitative description of the layout of retail stores has been discussed in few studies. The analytic method for describing a layout...

type="main" xml:id="twec12108-abs-0001" <title type="main">Abstract</title> <p>This article provides the first evidence about pure exporters (i.e. firms exporting all of their output to the foreign market) – a phenomenon overlooked and cannot be explained in the existing literature. It then offers a theoretical analysis of...</p>

Financial reporting is the cornerstone of financial management. In 1999, the Governmental Accounting Standards Board (GASB) ratified unanimously GASB Statement No. 34. In this paper, using the Georgia Comprehensive Annual Financial Report (CAFR) and interviews with practitioners, we examine the...

Purpose The purpose of this paper is make a significant contribution to the supply chain knowledge system through research on modern supply chain system in China, providing guidance for theoretical research such as methodology of dynamic resource allocation and application of innovative small-...

This study examines the relation between a firm’s business strategy and its corporate social responsibility (CSR) performance. Using a comprehensive measure of business strategy based on the Miles and Snow (Organizational strategy, structure, and process, McGraw-Hill, New York, 1978,...