We develop a unified framework to connect cash holding, debt maturity and mergers and acquisitions. We provide empirical support for four internally consistent predictions: i) equity and debt values of highly distressed firms are more sensitive to cash reserve than those of healthy firms; ii)...

It is important to have an accurate understanding of heat transfer process of water flowing through fractures for geothermal energy extraction and utilization. We designed an experiment to study the convective heat transfer characteristics of distilled water pumped through manmade smooth and...

Taking Haotang Village in Xinyang City of Henan Province as an example, this paper analyzed experience of this village in development of new socialist countryside construction. The new socialist countryside planning and construction should attach importance to research on original spatial...

It is important to have an accurate understanding of heat transfer process of water flowing through fractures for geothermal energy extraction and utilization. We designed an experiment to study the convective heat transfer characteristics of distilled water pumped through manmade smooth and...

Efficent treatment of cyanobacterial blooms in eutrophication waters by safe and reliable nanomaterials is a big challenge for reducing environmental health risks. Herein, a novel strategy combining palladium clusters (Pdn) with g-C3N4 nanocomposites was presented to achieve high-efficient...

The Chinese government adopted more specific and stringent environmental impact assessment (EIA) guidelines in 2011, soon after the widespread ethnic protests against coal mining in Inner Mongolia. However, our research suggests that the root of the ethnic tension is a sustainability problem, in...

To investigate the characteristics of service value of the karst rocky desertification ecosystem, we take water conservation, soil conservation, carbon-fixation and oxygen-production, production of organic matter, and purification of atmospheric environment as function indicators, to conduct...

On the basis of introducing relevant theories of Engel’s coefficient, this paper analyzes the limitation of these theories in practical application currently in China, for example, continuing to use original theory, not in line with reality of China; comparison invalidity in length and...

In the perspective of new institutional economics, we regard farmers’ cooperatives as a “contractual set†integrating a series of long-term contractual relations, and transform the selection problem of organization forms into selection problem of contractual model within...

Bank runs are always associated with economy failure and investor panic in the literature. This paper explores the relationship between technology innovation and bank runs in a general equilibrium model. Intuitively, in a stable economy, which says no technology innovation, the return of capital...