A field experiment was conducted to evaluate the effects of temperature on winter wheat (Triticum aestivum L.) at the Tongwei County (35°13'N, 105°14'E), Gansu, in the semiarid northwest of China from 2006 to 2008. Two study sites were chosen: one at Tongwei experimental station, situated...

Integrating spatial analysis with the supply and demand of biocapacity is critical for the sustainable development of regional eco-economic systems. Previous studies have focused on the temporal analysis of biocapacity at broad geographical scales, but lacked the systematic spatial realization...

Replaced with revised version of paper 07/05/07.

This study finds that implicit deposit insurance in the four original state banks, undermines market discipline and creates moral hazard. The differences of degree in market discipline in different banks depending on their ownership structure result from varying coverage by implicit deposit...

This study attempts to investigate the effects of exchange rate, soybean price, and ocean freight costs on import demand for U.S. grain with forward-futures markets. The focus is on soybeans. The panel data cover the major exporting markets for U.S. soybeans over the last decade. China and...

Long-term portfolio management is an important issue in modern finance and practice. We have analysed various known continuous-time strategies in portfolio management, with a focus on bankruptcy probabilities under these strategies. We show that, for each strategy, there is a threshold in the...

Multiplicative habit introduces an additional consumption risk as a determinant of equity premium, and allows time preference and habit strength, in addition to risk aversion, to affect "price of risk". A model combining multiplicative habit and power-expo preferences cannot be rejected.

In this paper, I first develop a new approach to estimating the return on the aggregate wealth portfolio that accounts for human capital and financial assets other than stocks. Using the estimated return on the wealth portfolio and the quarterly U.S. aggregate data on consumption and asset...

In this study, we focus on important organisational features and institutional conditions underlying the prosperity of business groups, and propose a new approach to analysing the distinctive roles of business groups during market-oriented institutional transitions. We examine the likelihood of...