ZnO-Bi 2 O 3 based varistors are usually used as the core element to manufacture surge arresters, but the study of sintering temperature is deficient. In this paper, the effect of sintering temperature on the microstructural evolution of ZnO-Bi 2 O 3 based varistors was studied detailedly....

ZnO-Bi2O3-MnO2-Co2O3-Sb2O3 (ZBMCS) varistors were prepared via the traditional solid-state method. We investigated the effect of TiN as donor and acceptor on the phase, microstructure and electrical properties of ZBMCS varistors. The result shows that TiN can be used as a grain size regulator to...

We introduce ambiguity about assets' value dynamics into a trade-off framework of capital structure to explain the empirically observed zero-leverage and underleverage puzzles. We utilize the decision framework of Chen and Epstein (2002) to characterize investors' ambiguity aversion. We show...

Bacterial infections pose a serious threat to public health. It is therefore essential to develop systems with effective antibacterial properties. Metal-organic frameworks (MOFs) are a class of materials which are considered promising for applications due to several properties, such as large...

We examine a real option model with governance friction and optimal investment and financing decisions when an entrepreneur facing ambiguity considers investing in an innovation project. The novel features of our model are the introduction of jumps in the returns to innovation and investors’...

The S&P 100 index trades both European and American options. We exploit this relatively unique feature to empirically investigate the early exercise premium (“EEP”) in American put option prices. We provide direct evidence that the American style exercise creates a transaction cost saving...

We study the degree and determinants of capital allocation efficiency across firms, using comprehensive firm-level survey data that covers a broad spectrum of developing countries. As measured by the dispersion in firms’ marginal revenue product of capital, we document that capital...