What happens when liquidity increases in credit markets and more funds are channeled from borrowers to lenders? We examine this question in a general equilibrium model where financial matchmakers help borrowers (firms) and lenders (households) search out and negotiate profitable matches and...

In a word, where information is costly, volatile cash flows create information acquisition costs that reduce value. Thus, managers act to reduce their firm's volatility of cash flow in anticipation of higher value for shareholders. However, when managers reduce the firm's cash flow volatility,...

This paper looks at the outsourcing of research and development (Ramp;D) activities. We consider cost reducing Ramp;D and allow manufacturing firms to decide whether to outsource the project to research subcontractors or carry out the research in-house. We use a principal-agent framework and...

The objective is to cast new light on the possible contribution of ‘emerging donors,’ highlighting their ‘knowledge creation’ based on the experience of receiving aid. The process of knowledge creation is examined through a model composed of three hypotheses. A knowledge is created...

In this ever changing competitive global society, universities in China strive to achieve quality in the programs, courses, qualifications and services offered to their clients. This paper debunks that myth and argues that micro-teaching can be used as a tool to ensure quality of pre-service...

This paper explores China’s standardization strategy after entering WTO and the standardization strategy’s current status quo and its roles in economic development and innovation system construction in China. Through the analysis of the achievements of the Study on the Strategy of Technical...

In the U.S., a majority of the non-elderly population obtains health insurance coverage through an employer. State governments enacted regulations that prohibit the use of a variety of underwriting criteria, ostensibly to make insurance more affordable to those who would have otherwise been...

In this paper, we fit the model to the actual data of cumulative cases from the 2003 SARS outbreak. The model proves a good fit for the four regions we examine, China (mainland), Canada, Hong Kong and Singapore, as evident from the high R2 values and the randomness of the residuals. In addition,...

The WTO's plurilateral Agreement on Government Procurement (GPA) is a significant WTO instrument to develop disciplines regulating government procurement. A recent major review of the GPA has led to a revised text, likely to enter into force in 2007. In the meanwhile, China, a country with a...