This paper examines stock exchange trading rules for market manipulation, insider trading and broker agency conduct across countries and over time for 42 stock exchanges around the world. Some stock exchanges have extremely detailed rules which explicitly prohibit specific manipulative...

We study the price discovery of municipal bonds, an important OTC market. As in markets for consumer goods, prices quot;rise faster than they fall.quot; Round-trip profits to dealers on retail trades increase in rising markets but do not decrease in falling markets. Effective half-spreads...

The Atmospheric-Vegetation Interaction Model (AVIM) is coupled with a Regional Integrated Environment Modeling System (RIEMS) to improve the regional simulation of climate variables. A case study in 1998 is implemented to study the improvement mechanism through land-air interaction in East Asia,...

The demand for high-confidence regional climate change scenarios is increasing. It is therefore vitally important to better understand the behavior of Earth’s climate system on regional scale and advance the knowledge of regional responses to global climate. With their ability to represent...

The paper reexamines non-additive environmental efficiency models with weakly-disposable undesirable outputs appeared in the literature of energy economics. These efficiency models are used in numerous studies published in this journal and other energy-related outlets. Recent studies, however,...

Conventional data envelopment analysis (DEA) methods assume that input and output variables are continuous. However, in many real managerial cases, some inputs and/or outputs can only take integer values. Simply rounding the performance targets to the nearest integers can lead to misleading...

Almost all dynamic production systems are subject to lagged productive effects, which are an often-ignored latent source of interference in the efficiency measuring process. Existing data envelopment analysis (DEA) approaches rely on a static production environment. They can easily lead to...

Under rapid innovations and technological changes due to fierce competition, purchasing managers are often faced with a high level of uncertainty in making procurement decisions. To maximize the buying firm' overall performance, managers also need to scrutinize suppliers' performance regarding...

A production network can be described as a collection of production processes performed by several interdependent groups of sub decision-making units (SDMUs) within a DMU. Dynamic effects pertain to the situation where intermediate outputs consumed by one SDMU may also dynamically influence its...