By applying tournament analysis to the UK Unit Trusts data, the results support significant risk shifting in the family tournament; i.e. interim winning managers tend to increase their level of risk exposure more than losing managers. It also shows that the risk-adjusted returns of the winners...

This paper investigates sensitivity of stock returns of industry-sorted Chinese firms with respect to renminbi exchange rate movements. Strong evidence of significant exposure is documented for 7 out of 16 Chinese industries. Evidence is also found of the size asymmetry effects. In addition, we...

In a behavioural equilibrium exchange rate model, this study investigates the movements of the real exchange rate of the Hong Kong dollar under the currency board arrangement from 1984 to 1998. Cointegration analysis based on Johansen approach is applied to derive the equilibrium real exchange...

In the process of China's foreign exchange reform, the so-called swap market was a key element. Despite the problems it caused, notably those associated with a dual exchange rate, the paper argues that the swap market proved to be a useful transition mechanism for China's foreign exchange...

This article examines the impact of a bidding firm's geographical location on the choice of method of payment in mergers and acquisitions. We find that rural bidders are more likely to offer pure stock deals and have lower propensity to use cash as the method of payment compared to their...

We consider a scenario in which a large equipment manufacturer wishes to outsource the work involved in repairing purchased goods while under warranty. Several external service vendors are available for this work. We develop models and analyses to support decisions concerning how responsibility...

In this paper, a new kind of complex network model named multi-radius geographical spatial networks is proposed. We investigate statistical characteristics of this model and then map wireless sensor networks (WSNs) to it based on an efficient mechanism of broadcasting radius adjustment. Analysis...

A critical issue in wireless sensor networks (WSNs) is represented by limited availability of energy within network nodes. Therefore, making good use of energy is necessary in modeling sensor networks. In this paper we proposed a new model of WSNs on a two-dimensional plane using site...

In this paper, we consider a pair of homogeneous diseases spreading concurrently on uniform networks based on the SIS model. A new model describing the transmission process of the interacting diseases is established. The influence of the transmission parameters, the interacting parameter and the...