In this paper we propose consistent integrated conditional moment tests for the validity of parametric conditional distribution models, based on the integrated squared difference between the empirical characteristic function of the actual data and the characteristic function implied by the...

Various types of linked structures between added rows on a rutile TiO2(110) surface have been investigated by scanning tunneling microscopy (STM). A new type of linked structure, cycle-link structure comprised of eight oxygen atoms and six titanium atoms, has been observed for the first time on...

This study systematically examines the ability of aggregate insider trading to predict future market returns in the Chinese A-share market. After controlling for the contrarian investment strategy, aggregate executive (large shareholder) trading conducted over the past six months can predict 66%...

This study examines the effects of China's 2008 trading ban regulation on the insider trading of large shareholders in China's A-share market. It finds no evidence of insider trading during the ban period (one month before the announcement of a financial report), due to high regulation risk....

This paper shows that politicians' pressure to climb the career ladder increases bank risk exposure in their region. Chinese local politicians are set growth targets in their region that are relative to each other. Growth is stimulated by debt-financed programs which are mainly financed via bank...

China's carbon dioxide (CO2) emission ranks the highest in the world. CO2 emission from urban central heating, which has an average annual growth rate of 10.3%, is responsible for 4.4% of China's total CO2 emission. The current policy for improving urban central heating focuses on replacing coal...

We consider a varying coefficient regression model for sparse functional data, with time varying response variable depending linearly on some time-independent covariates with coefficients as functions of time-dependent covariates. Based on spline smoothing, we propose data-driven simultaneous...

When all experimental runs cannot be performed under homogeneous conditions, blocking can be used to increase the power for testing the treatment effects. Orthogonal blocking provides the same estimator of the polynomial effects as the one that would be obtained by ignoring the blocks. In many...

Given the rapidly growing reserves in Asia (China, Japan, Korea, Taiwan) and the pressures from trading partners to revalue, there is a need to examine commercial policy in more than a pure barter model. Here we evaluate the joint impacts of exchange rate appreciation on trade flows and country...

Currently proposals are actively circulating in China to move to a unified enterprise tax structure with similar tax treatment of state-owned enterprises (SOEs), other private enterprises (OPE) and foreign investment enterprises (FIEs). FIEs presently receive significant tax preferences through...