The present study is concerned with dynamic simulation of thermal-lag Stirling engines. A dynamic model is built and incorporated with a thermodynamic model to study the engine start process. A prototype engine is designed and simulated by using the dynamic model. In the simulation, different...

Hedging the risk of holding undesired inventory is very important for market makers. However, prior studies seldom capture the role of inventory positions in measuring hedging costs. This study measures hedging costs directly using data on inventory positions of market makers in the Taiwan Index...

Underwriters in Taiwan have to purchase 10-25% of shares offered in initial public offerings (IPOs) for their own accounts. We present a signalling model showing that the underwriter retention rate can serve as a signal of firm value to investors because underwriters are investors as well. This...