This paper investigates the influence of information asymmetry on the cross-sectional variation of volume-return relation. We find that the dynamic volume-return relation within medium-size trades has the most significant response to the degree of information asymmetry. We also show that the...

Recent studies show that significant historical events, particularly the slave trade, had an impact on contemporary African economies. The transmission mechanisms, however, are not well established. The purpose of the present paper is to consider two such transmission mechanisms, notably...

The present paper assesses the interactions between innovation and economic institutions within the context of the inequality-growth nexus. By carrying out fixed effects estimations on a cross-country panel, we find that both institutional quality and innovations improve economic growth at the...

We consider preventive transshipments between two stores in a decentralized system with two demand subperiods. Replenishment orders are made before the first subperiod, and the stores may make transshipments to one another between the subperiods. We prove that the transshipment decision has a...

To effectively enforce a given right, the right holder needs to focus on two factors: the first factor concerns ex ante precaution, which means making prohibitive rules that aim at any kind of violations. The second one, more importantly, concerns efficient ex post remedies which compensate the...

Objective: To explore the operational and organizational response strategies that Applied Behavior Analysis (ABA) service providers implemented to mitigate the impacts of COVID-19 pandemic and to provide suggestions on telehealth deployment and employee support.Data Sources and Study Setting:...

This chapter investigates the influence of improved pre-trade transparency on the information content of the limit order book. Data from two natural experiments are examined: when the Sydney Futures Exchange increased the limit order book disclosure from the best bid and ask level to the best...

We examine how third party ratings and mandatory benchmark disclosure affect aggregate risk adjustment by retail investors. Morningstar changed its ratings methodology in June 2002. Before the change, the ratings were based on a risk-adjusted performance ranking of all US equity funds and highly...

In a multi-agent contracting setting, agents' performances are related due to both correlating noise and effort spillover. We study the optimal linear contract in which the agents are risk averse. Putting compensation weights on peers' performances helps to filter out common noise, which relaxes...

Two types of intervention are commonly implemented in networks: characteristic intervention which influences individuals' intrinsic incentives, and structural intervention which targets at the social links among individuals. In this paper we provide a general framework to evaluate the distinct...