As a relevant indicator for quantifying the value of carbon emissions, the marginal abatement cost (MAC) of carbon emissions has received increasing attention from academics and policymakers. This study uses a quadratic directional output distance function to analyse the technical efficiency,...

The purpose of this paper is to examine the relationship between financial development and economic growth. In particular, the authors examine the impact of financial development on the growth of primary, secondary, and tertiary industries in China. Ordinary Least Square (OLS) multiple...

This paper analyzes the relationship between excess stock returns and the macroeconomy of China. A factor-augmented regression is applied to a panel of 123 monthly Chinese macroeconomic time series. Eight fundamental macroeconomic factors are identified and used to examine the excess returns in...

Equity analysts who are more accurate in forecasting earnings tend to work at higher quality brokerage houses. This relation is endogenous, making it difficult to infer causality between brokerage house quality and forecast accuracy. We identify the exogenous portion of equity analysts' initial...

Research on power and trust in mega project delivery is still at the infant stage particularly in the emerging economy. This paper proposes a governance framework that examines how a broad range of factors that interplay with power and trust in affecting project performance. Based on literature...