In this paper, given recent theoretical developments that inflation can exhibit long memory properties due to the output growth process, we propose a new class of bivariate processes to simultaneously investigate the dual long memory properties in the mean and the conditional variance of...

In this paper, we propose a novel method for sparse logistic regression with non-convex regularization Lp (p 1). Based on smooth approximation, we develop several fast algorithms for learning the classifier that is applicable to high dimensional dataset such as gene expression. To the best of...

We consider energy (heat) transport in quantum systems, and establish a relationship between energy spread and energy current-current correlation function within linear response theory. The energy current-current correlation is related to thermal conductivity by the Green-Kubo formula, and thus...

Cobalt-based catalysts have been widely explored in the degradation of organic pollutants based on peroxymonosulfate (PMS) activation. Herein, we report an MXene nano-Co3O4 co-catalyst enriched with oxygen vacancies (Ov) and steadily fixed in nickel foam (NF) plates, which is used as an...

Cobalt-based catalysts have been widely explored in the degradation of organic pollutants based on peroxymonosulfate (PMS) activation. Herein, we report an MXene nano-Co3O4 co-catalyst enriched with oxygen vacancies (Ov) and steadily fixed in nickel foam (NF) plates, which is used as an...

Purpose – The purpose of this study is to examine whether the three principles in the SysTrust ® service converge on a single construct to measure potential users' trust in the reliability of a system, and whether trust in the reliability of a system, as defined by the three SysTrust...

We study CEO compensation in the banking industry by considering banks’ unique claim structure in the presence of two types of agency problems: the standard managerial agency problem and the risk-shifting problem between shareholders and debtholders. We empirically test two hypotheses derived...

This paper examines the incentive features of top-management compensation in the banking industry. Economic theory suggests that the compensation structures for bank management should have low pay-performance sensitivity because of the high leverage of banks and the fact that banks are regulated...

Historically a key advantage of being a public firm was broader access to capital, from a disperse group of shareholders. In recent years, such capital has increasingly become available to private firms as well. We document a dramatic increase over the past twenty years in the number of mutual...

We perform transaction-level analyses of entrusted loans—one of the largest components of shadow banking in China. Entrusted loans involve firms with privileged access to cheap capital channeling funds to less privileged firms, and increase when credit is tight. Nonaffiliated loans have much...