Global business practice shows that firms tend to maintain more financial slack during the time with volatile demand. But whether holding excess financial resources translates to better operational efficiency in an uncertain environment is an open question. Intuitively, financial slack is...

As an economic corridor, the Silk Road Economic Belt (SREB) connects the East to Western nations, where carbon emissions are gradually becoming severe. This study aims to provide solutions for dealing with carbon emissions from the transportation of the SREB in the Chinese range. By employing...

Simulating the adsorption behavior of Sb(V) on goethite is of great significance for predicting the mobility of Sb(V) in soil. However, there is still a lack of charge distribution and multisite surface complexation (CD-MUSIC) models that conform to the actual adsorption mechanism. Therefore,...

Reasonable layout of logistics centers in the ASEAN countries has important practical significance for improving logistics network efficiency and reducing logistics transportation costs. This paper based on the current status of the ASEAN logistics network and the characteristics of the...

We estimate the daily integrated variance and covariance of stock returns using high-frequency data in the presence of jumps, market microstructure noise and non-synchronous trading. For this we propose jump robust two time scale (co)variance estimators and verify their reduced bias and mean...

We examine how political corruption affects firms' accounting choices. We hypothesize and find that firms headquartered in corrupt districts manipulate earnings downwards, relative to firms headquartered elsewhere. Our finding is robust to alternative corruption measures, restatement-based...

We investigate how language similarity between acquirers and targets affects post-M&A performance using a large sample of M&A transactions in China. We hypothesize and find that acquirers achieve higher post-M&A operating performance when they acquire targets that share the same native...

We identify a positive causal effect of healthy working environments on corporate innovation, using the staggered passage of U.S. state-level smoke-free laws that ban smoking in workplaces. We find a significant increase in patents and patent citations for firms headquartered in states that have...