As households reduce discretionary spending in response to the COVID-19 pandemic, concerns are high that a resulting fall in aggregate demand can lead to a lasting recession post-COVID-19. Consequently, policies aimed at stimulating consumer spending are of key interest to governments working to...

For each S&P 500 stock, I calculate the rolling correlation between the VIX and the premium of butterfly at different strikes. The butterfly that co-moves most positively with VIX reveals the expectation of the stock’s return in the future market crash. I call this return the Butterfly Implied...

The geometric structures, energetic and electronic properties of global minima of the AlBe n ( n = 1–12) clusters have been systemically studied by using the hybrid density functional theory [B3LYP] and coupled cluster [CCSD(T)] methods. It is found that the impurity Al atom is externally...

This paper analyses Kantian cooperation of sustainability investments in a two-stage game. Firms’ behavior, Kantian cooperation versus competition, is independent at each stage. Our findings indicate that Kantian cooperation in sustainability investment results in lower sustainability levels,...

We examine the impact of air pollution on pricing efficiency in primary markets and its underlying mechanisms. Our findings suggest that IPO pricing efficiency decreases when air pollution is more severe in cities where bidding investors are located. Mechanism tests show that air pollution...