We examined the influence of cigarette taxes on tobacco consumption, with an emphasis on smokers’ choice between reducing cigarette consumption and switching brands. We constructed three scenario-based models to study the following two subjects: (1) the relationship between deciding whether to...

This paper aims to study labor supply and saving decisions as a result of health uncertainty. O’Donnell (1995) suggested a theoretical positive relationship between working hours (or saving rate) and the perceived health uncertainty. That is, for risk-averse individuals, there exists a...

Twenty percent of the world population, or 1.2 billion live on less than $1 per day; 70% of these are rural and 90% in Asia and Sub-Saharan Africa. Research led technological change in agriculture generates sufficient productivity growth to give high rates of return in African and Asia and has a...

In a market where imperfect competition occurs as a result of mergers, this study proposes a framework consisting of both efficiency and risk analyses that allow the simulation of pro forma mergers and hence the determination of the optimal number of firms in the industry. This is valuable...

Four new determinants of initial/long-run IPO (initial public offering) returns from the perspectives of market conditions are proposed in this paper. The associated effects are examined by using the samples of Taiwan's high-tech IPO companies. Our empirical findings are consistent with the...

As a response to growing concerns regarding the call for clean energy and its impact on future automobile sales, this study uses a classical factor model and the Peña-Box model to examine the contemporary and time-varying relationships of different brands/models of cars in Taiwan between 2003...

This paper examines the effectiveness of monitoring function from institutional investors on corporate hedging strategy in Taiwan over the period from 2005 to 2012. The empirical results show that institutional investors are effective monitors of corporate risk management to enhance the...

Traffic congestion will continue to worsen and likely worsen at a faster rate than ever. People throughput and freight throughput have become critical issues for California and the rest of the nation. PATH has funded with approximately $125K a research project entitled "Evaluation of Bus and...