For a set of firms with concentrated insider ownership, we find that (a) the bidask spread changes significantly around the board meeting dates, and (b) the actual number of transactions by insiders increases following the board meetings. We also find that there is a statistically significant...

Previous research shows, using data from three quarters after the implementation of regulation fair disclosure (Reg FD), that there is an improvement in the informational efficiency of stock prices after Reg FD. We compare the informational efficiency of stock prices in four pre-Reg FD quarters...

As an essential part of the grassland ecological system, study on the carbon storage has great significances to the carbon reduction in grassland ecological system. The carbon storage in biomass, carbon storage in soil and soil respiration are summarized in this paper to provide scientific...

Hybrid diesel-wind power generation systems have a great potential in the application of providing energy supply for remote communities and facilities. Compared to the traditional diesel system, hybrid power plants can offer many advantages such as additional capacity, being more environmentally...

In this paper, Computational Fluid Dynamics (CFD) technique is used to investigate the adaption of adjustable ejector for variable cooling loads and the characteristics of ejector pressure recovery in a multi-evaporator refrigeration system (EMERS) using R134a as the refrigerant. The performance...

Nowadays, one of the urgent issues regarding global climate change is to discuss the future of the second period of the Kyoto Protocol. However, the divergence of views and opinions among parties in the last Conference of the Parties of the United Nations Framework Convention on Climate Change,...

In this paper, the Computational Fluid Dynamics (CFD) technique is used to investigate the influences of varying cooling loads on the ejector pressure recovery performance in an ejector-based multi-evaporator refrigeration system (EMERS) using R134a as the refrigerant. The performance of...

We conduct event studies and statistical analysis to explore the impact of low cost carriers’ entry on legacy airline stock prices. Oligopoly structures, entry barriers, and high fixed costs make the airline industry highly susceptible to competitive and network expansion impact of low...

This paper examines (i) whether the level of firms’ cash holdings differ depending on the strength of investor protection, (ii) whether excess cash holdings are valued more with better investor protection, and (iii) whether cross-listed firms that improve investor protection through...

We examine multiple facets of firms’ decisions to list on the NYSE. Although the average Nasdaq spreads are now comparable to the average NYSE spreads, we find that firms continue to switch from Nasdaq to the NYSE, and that they experience positive cumulative abnormal returns on listing. Using...