We consider a model of network interactions where the outcome of a unit depends on the outcomes of the connected units. We determine the key network link, i.e., the network link whose removal results in the largest reduction in the aggregate outcomes, and provide a measure that quantifies the...

Friedman's monetary theory suggests that the supply of money is constantly equal to the demand of money. Therefore, it cannot justify that inflation is indeed caused by over issuance of money. The root cause of inflation should be the short supply of a basket of goods. The weight of each goods...

This study examines the importance of sales executives in firms' disclosure policies. Our findings show that the fixed effects of sales executives are significant in explaining the properties of both revenue-related financial and non-financial disclosures after we control for economic...

This paper models the local and cross-city transmissions of the novel coronavirus in China between January 19 and February 29 in 2020. We examine the role of various socioeconomic mediating factors, including public health measures that encourage social distancing in local communities. Weather...

To maximize firm value managers must efficiently invest new capital. This paper examines whether analyst coverage impacts a firm's investment efficiency. Using broker mergers and closures as exogenous shocks to the number of analysts covering a firm we find that firm investment efficiency...