Within the classical real option setting, we show that disagreement or uncertainty about what discount rate to use leads to delayed investment and more risk-taking. We connect with the behavioral economics literature and present the most comprehensive analysis of the impact of time preferences...

This paper provides a systematic review on research of founding team. Compared to TMT in established companies, founding team is an immature but fast growing research field. This review conducts an in-depth analysis of theories and critical factors related to founding team from various...

Governments around the world have implemented preventive measures against the spread of the coronavirus disease (COVID-19). In this study, we consider a multivariate discrete-time Markov model to analyze the propagation of COVID-19 across 33 provincial regions in China. This approach enables us...

To promote the benign development of China's power industry in terms of efficiency improvement and environmental protection, China's power industry needs to ameliorate the market and environmental technical efficiency urgently. Based on the internal mechanism of production-supply in power...

While sulfur-driven autotrophic denitrification (SDAD) occurring in the second-stage anoxic reactor of the sulfate reduction, autotrophic denitrification and nitrification integrated (SANI) system has been regarded as the main nitrogen removal bioprocess, little is known about the accompanying...

Electroreduction of CO2 into value-added products relies on the availability of highly active/selective and robust catalysts. Herein, we report a strategy to controllably enhance the catalytic activity of tin coordination polymers (Sn-CPs) for CO2 electroreduction via framework...

This paper investigates the value of academic independent directors (ADs) by exploring an unexpected policy shock that forces ADs to resign from Chinese listed firms. Around the announcement of the policy, stock prices of firms with ADs drop by 2.2%, which translates to a loss of 135M RMB...