Why do private firms grow vibrantly in transition economies despite their limited access to formal financing? This study underscores the importance of informal financing in facilitating the growth of private firms in China. Drawing from the institutional economics argument, we posit that...

Enterprise philanthropy is practiced in a very unique and rudimentary form in China. Based on a unique random survey data on 3837 Chinese private enterprises conducted in 31 provinces of China in 2006, I find the significant positive relationship between enterprise philanthropy donation and...

This study builds a theoretical framework on how subnational governments use promotion schemes to motivate local bureaucrats to address conflicting tasks of economic development and environmental protection. We argue that subnational (province) governments can strategically allocate polluting...

This review reports recent breakthroughs in piezoelectric wearable energy harvesting technology, specifically focusing on their harnessing biomechanical energy from all over the human motion. Wearable technology has significantly reshaped our daily lives, prompting a pressing demand for...

Pricing of European basket call option with n-assets and a bond is discussed in this paper, where all prices of n-assets and the bond are driven by Exponential Ornstein-Uhlenbeck processes. The close-form of European basket option pricing formula is derived. Utilizing with 1-order differential...

We derive the implied volatility estimation formula in European power call options pricing, where the payoff functions are in the form of $V=(S^{\alpha}_T-K)^{+}$ and $V=(S^{\alpha}_T-K^{\alpha})^{+}$ ($\alpha0$)respectively. Using quadratic Taylor approximations, We develop the computing...

The purpose of this text is to describe a procedure that can be used to construct a Herfindahl-Hirschman index of market concentration based on the following two pieces of information: <p> <p> a) An output measure of individual producers located in areas identified with a postal code. <p> b) A matrix...</p></p></p>

The People's Republic of China (PRC) launched seven emissions trading scheme (ETS) pilot projects in 2013–2014 to explore a cost-effective approach for low-carbon development. The central government subsequently announced its plans for the full-fledged implementation of ETS in the entire PRC...