Hollander, Park and Proschan (1986) proposed a test of new is better than used of a specified age. It is based on large sample normality of the test statistic. There is, however, no study in the literature on its actual size for small and moderate sample sizes. To shed some lights on this, the...

Today's business success to a great extent depends on logistics and supply chain performance. More and more companies, especially manufacturing firms, obtain their competitive advantages through creating successful logistics outsourcing alliances to optimise value and performance. This paper...

Empirical results from long-horizon regression tests have been influential in the finance literature. Yet, it has come to be understood that traditional long-horizon tests may be unreliable in finite samples when regressors are persistent and when the horizon is long relative to sample size....

This study explores the cross-sectional stock return behavior on the A-share market of the Shanghai Stock Exchange (SSE), which is segmented from world's other equity markets. We estimate the effects of beta, firm size, book-to-market equity ratio and a variable unique to the Chinese stock...

The best way to reduce global warming is, without any doubt, cutting down our anthropogenic emissions of greenhouse gases. But the world economy is addict to energy, which is mainly produced by fossil carbon fuels. As economic growth and increasing world population require more and more energy,...