Recent real estate literature has not only proposed a few theories to explain the puzzling macro feature of the positive correlation between price and transaction volume, but also attempted to identify the causal relationships between them. However, there is little empirical evidence to...

Purpose – The purpose of this paper is to explore the relationship between employee perspectives of high-performance work systems and employee outcomes, i.e. job satisfaction and affective commitment, and to propose ways of increasing the positive effects of high-performance work systems on...

China’s economy has been growing rapidly since the late 1970s and is expected to maintain this momentum in the foreseeable future. Coupled with the biggest population in the world, there is tremendous growth potential for China’s capital markets and financial services industry,...

Purpose – The purpose of this paper is to explore the relationship between employee perspectives of high-performance work systems and employee outcomes, i.e. job satisfaction and affective commitment, and to propose ways of increasing the positive effects of high-performance work systems on...

To alleviate rural poverty, stimulate investment in forests, and improve forest conservation, the Chinese government enacted a policy leading to small individual holdings of forest lands that previously were administered by villages. Using data collected from 288 villages in eight provinces over...

The historical focus of renewable energy policy in the UK, as in most nations, has been on supporting deployment in renewable energy sources of electricity. The adoption of ambitious EU wide targets for renewable energy has forced greater consideration of renewable energy sources of heat...

This paper studies the group-buying mechanism from a dynamic perspective. We consider a seller that offers a product in the form of group buying (priced low but uncertain) and spot purchasing (priced high but guaranteed). In the case of group buying, the information associated with the number of...

Why did the failure of Lehman Brothers make the financial crisis dramatically worse? The financial crisis was a process of a build-up of risk during the crisis prior to the Lehman failure. Market participants tried to preserve an option or exit by shortening maturities - the "flight from...

We consider a duopolistic Bertrand competition setting in which competing firms can turn into intermediaries. The intermediation option allows firms to take advantage of the rival firm’s low price. We then give conditions for the existence of equilibrium.

We consider a firm that produces multiple variants of a product. Products are assembled using a combination of common and dedicated components. We characterize the optimal assortment and derive the optimal inventory levels for the common and dedicated components under various bill-of-material...