We propose a "weighted and sample-size adjusted" Kolmogorov-Smirnov type statistic to test the assumption of conditional symmetry maintained in the symmetrically trimmed least-squares (STLS) approach of Powell (1986b), which is widely used to estimate censored or truncated regression models...

Building on two sources of exogenous shocks to analyst coverage (broker closures and mergers), we explore the causal effects of analyst coverage on mitigating managerial expropriation of outside shareholders. We find that as a firm experiences an exogenous decrease in analyst coverage,...

In this paper we examine the nite sample performance of two estimators one developed by Blundell, Chen, and Kristensen (2007) (BCK) and the other by Gagliardini and Scaillet (2007) (TIR). This paper focuses on the generalization and expansion of these estimators to a full nonparametric...

Conventionl wisdom in terms of land utilization has been derived from a micro view-strategies concerning land utilization have been formulated based on the need of terminal operators. The major factors considered are the cost, the manoeuverability, the stacking ability of the yard operating...

Homogeneous Charge Compression Ignition (HCCI) combustion, also known as controlled auto-ignition (CAI), has been shown to reduce substantially NOX emissions and fuel consumption in gasoline engines. However, it is still confronted with the problem of its limited operation range. One of the...

This article examines the impact of warrant trading on tracking errors in China-focused exchange-traded funds (ETFs) listed in Hong Kong. We followed Shin and Soydemir (2010) in adopting average absolute differences, standard errors from regression analysis, and standard deviation of return...

This article complements prior literature by distinguishing between buys and sells, and taking a new approach in testing for herding on ending digits. Using a sample of nearly 100 million stock trades, it provides strong evidence in favor of herding on ending digits, particularly in round...

In this paper we examine the finite sample performance of two estimators one developed by Blundell, Chen, and Kristensen (2007) (BCK) and the other by Gagliardini and Scaillet (2007) (TIR). This paper focuses on the generalization and expansion of these estimators to a full nonparametric...

The spreading of social health insurance (SHI) worldwide poses challenges for fledging public administrators. Inefficiency, misuse and even corruption threaten the stewardship of those newly established health funds. This article examines a tricky situation faced by China’s largest SHI...

Using extensive intraday transaction and institutional ownership data of Japan, this study investigates the question of whether institutional ownership increases the extent to which equity prices reflect information about the firms’ fundamentals (the degree of price informativeness) and the...