Improper disposal of electronical waste (e-waste) causes harm to both public health and the environment, and how to effectively recycle and reduce electronical waste has become a common concern around the world. This study focuses on the design of the points system to encourage consumer...

We show theoretically that variable production costs lower systematic risk of firms' cash flows if capital and variable inputs are complementary in firms’ production and input prices are sufficiently pro-cyclical. In our dynamic model, this operating hedge effect is weaker for more profitable...

We study an optimal multiple stopping problem driven by a spectrally negative Levy process. The stopping times are separated by constant refraction times, and the discount rate can be positive or negative. The computation involves a distribution of the Levy process at a constant horizon and...

The Chinese economy has recently experienced a rapid and fundamental transformation, and the public expenditure on agriculture has also changed to reflect shifts in policy priorities. This paper reviewed public agricultural expenditure in a comprehensive way using detailed expenditure data at...

In this study we analyze the effect of information asymmetry on corporate cash holdings. Using various measures of information asymmetry, we show that companies that operate in higher information asymmetry environments have smaller cash holdings. We continue to find a negative relation between...