The combination of non-fungible token (NFT) with paintings, music, games, videos and other forms of creative content is an innovation to protect the copyright of authors. It digitizes physical works with unique labels. At present, the NFT industry is blooming in the area of digital collections...

In the current era of Industrial 4.0, open innovation, and the sharing economy, innovation ecosystems are formed through government-industry-university (triple helix) interaction. The concept of responsible innovation has emerged to explore how innovation can be conducted in a transparent,...

Since 1980, land subsidence has accelerated and groundwater levels have decreased in the centre of Shanghai, although the net withdrawn volume of groundwater has not increased. Theoretical analysis of the monitored data shows that the decrease in the groundwater level is the primary reason for...

Designated market makers (DMMs) are contractually obligated to increase liquidity provision when trading volume breaches a floor. Using this feature in a regression discontinuity design, we show that increased DMM participation facilitates price informativeness with respect to earnings news....

The main focus of this study is the contrasting mechanisms through which the Chinese government influences the internationalization of Chinese state-owned enterprises (SOEs) and of privately owned enterprises (POEs). The different circumstances created by the Chinese government at the outset of...

We argue that positive co-movements between land prices and business investment are a driving force behind the broad impact of land-price dynamics on the macroeconomy. We develop an economic mechanism that captures the co-movements by incorporating two key features into a DSGE model: We...