Based on the data of Chinese A-share listed firms from 2008 to 2020, this study examines the effect of technology independent directors on firm R&D investment and investigated the influence and mechanism of directors’ and officers’ liability insurance on the above effect. We find that...

Immigrants in economies with a dominant native language exhibit substantial heterogeneities in language acquisition of the majority language. We model partial equilibrium language acquisition as an equilibrium phenomenon. We consider an environment where heterogeneous agents from various...

This paper investigates the dynamic volatility spillover among energy commodities and financial markets in pre-and mid-COVID-19 periods by utilizing a novel TVP-VAR frequency connectedness approach and the QMLE-based realized volatility data. Our findings indicate that the volatility spillover...

This paper examines the efficiency of stable matchings in a framework of general equilibrium. In my model of a large private competitive economy, firms and managers form partnerships in an upstream labor (matching) market and then firm-manager pairs compete in a downstream goods market. I find...

This paper assumes a small- and micro-sized enterprise (SME, henceforth) invests in a project, of which the investment cost is funded by the bank-tax-guarantee (BTG, henceforth), a financial innovation instrument that combines bank-tax-interaction (BTI, henceforth) and credit guarantee (EGS,...