Does competition affect moral behavior? This fundamental question has been debated among leading scholars for centuries, and more recently, it has been tested in experimental studies yielding a body of rather inconclusive empirical evidence. A potential source of ambivalent empirical results on...

Understanding the relationship between income inequality and economic growth is of utmost importance to economists and social scientists. In this paper we use a Bayesian structural vector autoregression approach to estimate the relationship between inequality and growth via growth and inequality...

Purpose: To find out ships' optimum operating speed under low-carbon economy. Approach: First, it analyzes the relations between ship's carbon emission and the operating speed, gets the optimum speed under which the entire fleet emit minimum carbon, then establishes the relations between the...

Currently, China's expansionary fiscal policy and tight monetary policy have formed an opposing policy mix. This is due to the imbalanced macro-economy, which suffers from the pressures of inflation and slow growth. In response to economic changes, China adjusted its monetary policy as the real...

In a recent book, Kolari et al. developed a new theoretical capital asset pricing model dubbed the ZCAPM. Based on out-of-sample cross-sectional tests using U.S. stocks, the ZCAPM consistently outperformed well-known multifactor models popular in the finance literature. This paper presents...

This paper combines the CRSP market index with multiple factors to create a single multifactor market index. Empirical tests of different multifactor market indexes indicate that: (1) Sharpe ratios substantially increase and GRS test statistics decrease as multifactors are incrementally added to...

Infrastructure construction is one of the basic driving forces of social and economic development. Since 1978, the construction of infrastructure in the People's Republic of China (PRC) has experienced rapid development, which has given a strong impetus to the PRC's modernization. But behind the...

As China's economic growth slows down and the pressure of the economic downward increases gradually, the agricultural and rural economic development faces more serious challenges. Fortunately, thanks to the China's rural land certification, it guarantees the security and stability of property...