Purpose – The purpose of this paper is to derive semi‐closed‐form solutions to a wide variety of interest rate derivatives prices under stochastic volatility in affine‐term structure models. Design/methodology/approach – The paper first derives the Frobenius series solution to the...

This article derives semi-analytical pricing formulae for geometric average options (GAOs) within a stochastic volatility framework. Assuming a general mean reverting process for the underlying asset and a square-root process for the volatility, the cross-moment generating function is derived...

Purpose – The late 2000s Great Recession led to a surge of bank failures in the USA with nearly 300 banks failing from 2009 to 2010. Recalling the farm crises of the 1980s where the farm sector was pinpointed as one of the major precursors of such crises, this study is an attempt to validate...

Purpose – The paper aims to discuss whether the younger generation of China's rural labor force is prepared, in terms of education level or labor quality, for the future labor markets under China's industrial upgrading. Design/methodology/approach – Using nationally representative survey...

Purpose: The value of online reviews has been well documented by academics and practitioners. However, to maximise the benefits of consumer reviews, online sellers must avoid the negative consequences associated with customer feedback, such as reputation loss, or product returns after purchase....

Purpose: This paper aims to demonstrate both the positive and negative effects of loyalty programs. The study proposes a model to demonstrate why and how loyalty program strategies can result in good customer relationships and customer entitlement behaviors. Various configurations of three...