The behavior of institutional investors often deviates from established personal or social norms, which may reflect either an informational advantage or psychological bias. In this paper, we investigate the incentives of Chinese mutual funds holding lottery-type stocks, which are characterized...

A scalable superamphiphobic self-cleaning daytime radiative cooling coating (RC coating) was successfully applied to distributed and conventional mobile communication base stations in different climate regions. The superamphiphobic RC coating achieved roof surface temperatures of the battery and...

The development of wave energy has attracted wide attention. This paper proposes a conceptual design of a station featuring direct drive 3-degree-of-freedom (3-DoF) wave energy converter (SJTU-WEC), of which the numerical and experimental performances are studied. This article first introduces...

Animal waste from concentrated animal feeding operations (CAFOs) is a significant contributor to the nitrate contamination of groundwater. Some manures also contain heavy metals and salts that may build up either in cropland or groundwater. To find cost-effective policies for pollution reduction...

Dairy United is one of China’s fastest-growing and most innovative milk producers. Dairy United’s unusual business model has propelled it from underdog to main player during the industry's reshuffle after the 2008 Chinese milk scandal. Instead of making farmers shareholders of the company,...

We study whether mandatory carbon reporting reduces the selective disclosure of favorable versus unfavorable environmental information. Our setting is a regulation mandating firms to report carbon emissions, or mandatory carbon reporting (MCR). Measuring selective disclosure as the difference...

Globally, many inland lakes are shrinking due to water scarcity. In some arid regions, reduced runoff from irrigated agriculture is a leading contributing factor to lake shrinkage. As inland lakes contract, playa dust emissions from receding shorelines create regional air quality problems with...

Accounting big baths are pervasive in practice. While big baths can improve the information environment and reduce information asymmetry, they can also degrade the information environment and obscure operating performance. In this study, we examine the role of management ethics. Specifically, we...

We consider the stochastic control model with finite time horizon for a mixed duopoly R&D (Research and Development) race between the profit-maximizing private firm and welfare maximizing public firm. In our two-firm stochastic control R&D race model, the stochastic control variable is taken to...