Four organic dyes (XS10–13) employing carbazole unit as electron donor and N,N-dimethylarylamine moieties as electron-donating groups were designed and synthesized for nanocrystalline TiO2 dye-sensitized solar cells. The electron-donating groups of dimethylarylamine increase the electron...

In this paper we first propose a proxy for the maturity of a country’s export bundle based on the product life cycle theory. Employing a conditional latent class model, we then examine the relationship between export maturity and economic growth for 98 countries during the period 1988-2005. We...

This paper compares the Hou, Xue, and Zhang (2014) q-factor model and the Fama and French (2014a) five-factor model on both conceptual and empirical grounds. It raises four concerns with the motivation of the five-factor model: The internal rate of return often correlates negatively with the...

What are the determinants of firms' market value? We incorporate quasi-fixed labor and intangible capital inputs into the neoclassical model of investment, and estimate the contribution of each input for explaining firms' market value. Using the generalized method of moments, we estimate that,...

Even though labor income represents about two thirds of disposal income to household, its role has largely been neglected by asset pricing models. In this paper, we solve a general equilibrium model which can both rationalize important feature of labor markets as well as financial markets. To...

Agricultural risk, especially the risk assessment, partition and economic loss estimation of specific and main crops, maize, wheat and rice, is widely touted in China as a means of improving the effective productivity. The main objective of this article is to perform a detailed analysis of the...

Ecosystem water use efficiency (WUE) can be defined as the ratio of net CO2 exchange to evapotranspiration, which implicates the interactions between carbon sequestration and water consumption. Previous studies mainly focused on ecosystem WUE for forests, grasslands and farmlands, but paid...

Frictions in the labor market are important for understanding the equity premium in the financial market. We embed the Diamond-Mortensen-Pissarides search framework into a dynamic stochastic general equilibrium model with recursive preferences. The model produces realistic equity premium and...

In this paper we first propose a proxy for the maturity of a country’s export bundle based on product life cycle theory. Employing a conditional latent class model, we then examine the effect of maturity of countries’ exports on their economic growth for 98 countries over the period 1988 to...

Value stocks are more exposed to disaster risk than growth stocks. Embedding disasters into an investment-based asset pricing model induces strong nonlinearity in the pricing kernel. Our single-factor model reproduces the failure of the CAPM in explaining the value premium in finite samples in...