We investigate any similarity and dependence based on the full distributions of cryptocurrency assets, stock indices and industry groups. We characterize full distributions with entropies to account for higher moments and non-Gaussianity of returns. Divergence and distance between distributions...

In recent years, the Chinese government and the public accounting profession have advocated the audit practitioners’ use of professional liability insurance (PLI). As a tool to divert audit firms’ business risk, PLI contracts could decrease auditors’ diligence in conducting audits, which...

Listed companies commonly appoint their incumbent annual auditors to audit a target company during a merger and acquisition (M&A). However, some companies choose an alternative auditor to perform the M&A audit. To understand the consequences of this apparently unconventional auditor choice, we...

Since 2015, the China Securities Regulatory Commission (CSRC) has disclosed initial public offering (IPO) companies’ review outcomes and hearing questions. For 15% of the companies that pass the IPO screening process, the CSRC also discloses some of their hearing questions that require further...

This paper introduces a tontine-like annuity fund designed to provide lifelong income to its participants. Initially, each member contributes a lump-sum payment into a trust fund as a joining premium. Participants then receive benefits over time, based on their survival. As members pass away,...

In this paper we consider a discrete-time risk model, which allows the premium to be adjusted according to claims experience. This model is inspired by the well-known bonus-malus system in the non-life insurance industry. Two strategies of adjusting periodic premiums are considered: aggregate...

The cost of living has shown a gradual upward trend in recent years, which has seriously impacted the quality of life and well-being of residents. This study empirically examines the impact of the digital economy on residents' cost of living and the mechanisms behind it by measuring the digital...

Agri-food supply chains (AFSCs) are essential for addressing global food security and promoting the United Nation's Sustainable Development Goal of reducing hunger. These chains stand out because they deal with perishable goods that have limited shelf life and are subjected to erratic...