Gaussian affine term structure models attribute time‐varying bond risk premia to changing risk prices driven by the conditional means of the risk factors, while structural models with recursive preferences credit it to stochastic volatility. We reconcile these competing channels by introducing...

The nationwide implementation of the minimum wage system in 1993 was followed by the “Minimum Wage Regulations” in 2004 with an attempt to enhance regulatory stringency of the system. The article constructs a theoretical model to establish testable propositions and conducts empirical...

Understanding the relationship between attribute performance (AP) and customer satisfaction (CS) is crucial for the hospitality industry. However, accurately modeling this relationship remains challenging. To address this issue, we propose an interpretable machine learning-based dynamic...

Based on upper echelons theory and using a sample of private Chinese A-share listed firms from 2008 to 2020, this paper studies the impact of executives' overseas experience on firms' labor investment efficiency. The results show that executives with overseas experience significantly enhance...

Background Relapsed or refractory classic Hodgkin lymphoma (RRcHL) associates with poor prognosis and heavy disease burden to patients. This study evaluated the cost-effectiveness of brentuximab vedotin (BV) in comparison to conventional chemotherapy in patients with RRcHL, from a Chinese...

Objective The integration of the health insurance fund pool may threaten the sustainability of the fund by increasing its expenditures through the exacerbation of the moral hazard of participations. The purpose of this paper is to assess and predict the impact of the single pool reform of...