The key strategic point for facilitating domestic circulation is to enhance and expand household consumption. Based on a survey of 1080 farming households in Hunan, Hubei, and Jilin Provinces, this study examines the impact of digital finance use on the scale and structural upgrading of...

The subsidiary’s profit distribution results in the cash transfer from the subsidiary to the parent company. We investigate the effect of this cash transfer on the business group’s agency cost. Using the sample of A-share listed companies in China from 2006 to 2017, we find that the profits...

We estimate a production‐based general equilibrium model featuring demand‐ and supply‐side uncertainty and an endogenous term premium. Using term structure and macroeconomic data, we find sizable effects of uncertainty on risk premia and business cycle fluctuations. Both demand‐ and...

This study examines the predictability of the last 30 min of intraday stock price movements within the US financial market. The analysis encompasses several potential explanatory variables, including returns from each 30 min intraday trading session, overnight returns, the federal reserve fund...