This paper studies the interaction between excess spillovers and financialization of cross-sectional commodity markets. Investigating excess spillovers of cross-sectional commodity markets shows the magnitude and the direction of financialization impacts, is more informative than studying the...

The neo-classical finance theory suggests that capital markets can reasonably reflect the value of listed companies, but it ignores the link between the real economy and the capital market. The current study conducts an analysis of the relevance of the stock return volatility to the company's...

I study a long-run risk model with non-separable leisure and consumption in the Epstein-Zin preferences to price a cross-section of equity returns over 1948-2011 for the US market. The stochastic discount factor is shown by news on both leisure and consumption. While estimating these two long...

Insect herbivory on plant leaves is a major determinant of plant fitness, especially the growth and survival of tree seedlings in forests. Leaf size is believed to significantly affect the intensity of herbivory. Studies often assume the relationship between leaf size and herbivory to be...

In this paper, we extend previous reference-dependence newsvendor research by incorporating both consumer trade-offs and government subsidies to evaluate the relevant influences on the optimal EV production decisions. We present the properties of the model, derive the closed-form solutions for...