This paper investigates how information asymmetry and mutual fund ownership affect listed companies' earnings management. We show that (1) reducing information asymmetry improves firms’ earnings management behavior; (2) relative to short-term mutual funds, long-term mutual funds promote...

We study the classic multi-period joint pricing and inventory control problem in a data-driven setting.In this problem, a retailer makes periodic decisions on the prices and inventory levels of an item that she wishes to sell. The retailer's objective is to maximize the expected profit over a...

This paper shows that politicians' pressure to climb the career ladder increases bank risk exposure in their region. Chinese local politicians are set growth targets in their region that are relative to each other. Growth is stimulated by debt-financed programs which are mainly financed via bank...

Suppliers usually worry about losing important customers far away. This study examines the effect of long-distance customers on the supplier's cash holdings in China. We find that firms with long-distance major customers tend to hold more cash holdings. Our results still hold when considering...

We study a single product pricing problem with demand censoring in an offline data-driven setting. In this problem, a retailer is given a finite amount of inventory, and faces a random demand that is price sensitive in a linear fashion with unknown price sensitivity and base demand distribution....

To combat energy shortage, RIES has become an important research direction in the international energy field. In order to improve energy efficiency and the large-scale consumption of renewable energy, this paper presents the key technologies of RIES, which consists of the coupling relationship,...

Dockless bike sharing provides a convenient and affordable means of transport for urban residents. It solves the “last-mile problem” in public transport by reducing the travel cost between home and subway stations and thus increasing the attractiveness of distant apartments. This may affect...

The recent rising popularity of ultra-fast delivery services on retail platforms fuels the increasing use of urban warehouses, whose proximity to customers makes fast deliveries viable. The space limit in urban warehouses poses a problem for the online retailers: the number of products (SKUs)...

This study examines the volatility spillovers in four representative exchanges and for six liquid cryptocurrencies. Using the high-frequency trading data of exchanges, the heterogeneity of exchanges in terms of volatility spillover can be examined dynamically in the time and frequency domains....