We exploit data from the China Household Finance Survey to examine the impact of changes in the minimum wage on employment and investment decisions. We are able to non-parametrically identify the average treatment effect on the treated via exogenous variation in the minimum wage across...

We propose a simple three-factor pricing model, consisting of a local stock market index, a global REIT market index, and a global stock market index, to examine the dependence structure of conditional volatilities in the real estate investment trust (REIT) market from 11 countries over the...

Using the GARCH model and quantile regression with dummy variables, we investigate the hedging and safe haven properties of carbon futures and clean energy stocks against the U.S. climate policy uncertainty (CPU). We discover that carbon futures and clean energy stocks have a weak hedge and a...

Fractile Graphical Analysis (FGA) was proposed by Prasanta Chandra Mahalanobis in 1961 as a method for comparing two distributions at two different points (of time or space) controlling for the rank of a covariate through fractile groups. We use bootstrap techniques to formalize the heuristic...

Electronics companies are facing global economic and trade competition. As patents can form an endowment shield that protects the development of corporate capabilities, companies are actively increasing their number of patents and attaching importance to technological research and development...

In this study, I apply a quantile regression model to investigate how gold returns respond to changes in various financial indicators. The model quantifies the asymmetric response of gold return in the tails of the distribution based on weekly data over the past 30 years. I conducted a...

This study examines the impact of changes in the yield curve factors on the Credit Default Swap (CDS) spreads of the U.S. industrial sectors. Stock returns and the crude oil-based volatility index are used in a quantile regression framework to test the validity of Merton's model. The results...

Analyzing the success of movies has always been a popular research topic in the film industry. Artificial intelligence and machine learning methods in the movie industry have been applied to modeling the financial success of the movie industry. The new contribution of this research combined...

We empirically investigate the impact of capital structure on bank profitability using a quantile regression method in the Vietnamese banking system during 2007-2019. Our results suggest that the nonlinear relationship between capitalization and bank profitability is only significant at the 90th...

This paper discusses questions of the gender diversity of corporate boards vis-à-vis firm performance. Typically, researchers have asked if a female presence is associated with improved performance and more transparent governance. The paper's first part reports on several econometric attempts...