For a large sample of U.S. firms from 1994 to 2009, we empirically examine the impact of corporate hedging on the cost of public debt. We find strong evidence that hedging is associated with a lower cost of debt. The negative effect of hedging on the cost of debt is consistent across industries,...

Purpose - The purpose of this paper is to study performance and market timing ability of equity real estate investment trusts (REITs). Design/methodology/approach - The authors use classical regression-based framework and their multi-index, multifactor, and conditional extensions to jointly...

This study examines the moderating effects of institutional forces on the capabilities–performance link by combining the resource-base view and institutional theory. From a survey of 324 Chinese manufacturers, this study tests the impacts of the importance of guanxi (an informal institutional...

This study recognizes that commercial mortgage default is not a one-step process and examines a previously under explored aspect in the whole default process, that is the stage between the initial delinquency and default. We distinguish the servicers’ behavior from the borrowers’ behavior. A...

Currently, the majority of the European housing stock falls towards the bottom of the energy efficiency rating scale on the EU Energy Performance Certificate. If governments and businesses are to successfully address ambitious CO₂ reduction targets, then it will be imperative that...

We introduce a new simple pseudo tree-like network model, deterministic complex network (DCN). The proposed DCN model may simulate the hierarchical structure nature of real networks appropriately and have the unique property of ‘skipping the levels’, which is ubiquitous in social networks....

We study the efficiency losses of monopoly in a model where the firm¡¯s total cost of production decreases with the manager¡¯s effort to control cost. In contrast to the existing analyses of oligopolistic and monopolistically competitive markets that find an ambiguous relationship between...

Place name is an important ingredient of borderlands situation information and plays a significant role in collecting them from the Internet with focused crawlers. However, current focused crawlers treat place name in the same way as any other common keyword, which has no geographical...