Since 1983, Social Security benefits have been subject to income taxation, a provision that can significantly increase the marginal income tax rate for older individuals. To assess the impact of this tax, we construct and calibrate a detailed life-cycle model of labor supply, saving, and Social...

This study primarily investigates the effect of financial sustainability on capital leverage in microfinance setting. In doing this, this study looks at operating performance of 45 commercial microfinance institutions under current dual pressure of downturn and deleveraging in China....

Research question - This study investigates whether the release of financial accounting information is related to the change in stock prices. Motivation - The relationship between accounting information and stock price reaction is well documented in the United States and other major developed...