This paper studies the effect of variance swap in hedging volatility risk under the mean-variance criterion. We consider two mean-variance portfolio selection problems under Heston's stochastic volatility model. In the first problem, the financial market is complete and contains three primitive...

Intelligent manufacturing offers opportunities for green technology innovation at a low cost, helps eliminate outdated equipment, and improves pollution efficiency, which is essential for environmental protection. From the perspective of the industrial sector, based on the data of 269 Chinese...

Employment is the greatest livelihood. Whether the impact of industrial robotics technology materialized in machines on employment in the digital age is an “icing on the cake” or “adding fuel to the fire” needs further study. This study aims to analyze the impact of the installation and...

The digital transformation of firms significantly contributes to the advancement of a digital China, fostering both economic efficiency and high-quality enterprise development. Using annual report data from Chinese manufacturing companies (2011-2019), this study employs text mining to develop...

Labor protection increases employees' stability and strengthens their monitoring role, improving firms' information environment and increasing analysts' earnings forecast accuracy. Using the implementation of China's Labor Contract Law as a quasi-natural experiment, we find that labor protection...

Consumerism during the COVID-19 pandemic has been characterized by impulsive buying. Using the theoretical lens of uncertainty avoidance and ego-depletion to identify the mediating mechanisms and moderating factors for online impulse buying, we surveyed young consumers across two relevant...

Based on the data of A-share listed companies in Shanghai and Shenzhen from 2013 to 2017 and the air quality monitoring data released by the China National Environmental Monitoring Centre, this paper conducts an empirical test on the relationship between air pollution and corporate cash...

Recently, public and private providers within two-tier healthcare markets have engaged in a fierce competition for patients, which is significantly influenced by patients' multifaceted sensitivities to delays and payments, particularly when patients' potential balking is considered. However,...

This paper investigates the determinants and the time pattern of the subjective well-being of private business owners. We find that both personal and enterprise-level factors have a significant influence on subjective status of private business owners. Meanwhile, we find supportive evidence of...