This study empirically investigates informed investors' choice between demanding and supplying liquidity, and the incorporation of private information through both liquidity demanding and supplying channel of limit order market. By extending the structural model of Easley, et al. (1996) to allow...

Having grown to one of the largest in the world in just over two decades, the stock market of China is cited as a counterexample to the significance of law for financial market development. A thorough examination of the development of China's stock market however finds that law is actually...

To evaluate the Chinese government's recent market-orientated efforts to promote good corporate governance, this paper conducts a re-examination of the working mechanics for market competition and other market-based governance mechanisms to ensure good corporate governance. The finding is that...

Despite the high expectation for the shareholder derivative action to play an important role in improving corporate governance in China, only one lawsuit has ever been brought since it was formally introduced in 2005, so far as listed companies are concerned. Above all, the 1% minimum...

Bioethanol is an essential energy source and is produced from agricultural feedstocks. However, raw bioethanol contains much water and methanol, and the traditional distillation approach has hardly removed it. Adsorptive separation of ethanol from water and methanol by adsorbents is an...

This paper provides an overview of the treatment of technological change in economic models of environmental policy. Numerous economic modeling studies have confirmed the sensitivity of mid- and long-run climate change mitigation cost and benefit projections to assumptions about technology...