The Bayesian estimators for the unknown parameters of the bivariate Marshall–Olkin exponential distribution under noninformative priors have been considered and several reference priors have been derived. A class of priors is found by matching the coverage probability of one-side Bayesian...

A hypersonic vehicle, its flight state is changeable, which is often related to the heat load change of chamber wall. Thermal and flow response characteristics during flight state change are investigated in this research experimentally by utilizing the electrically heat experiment system. It is...

This paper studies the role of trust in incumbent lenders (banks) as an entry barrier to emerging FinTech lenders in the credit markets. The empirical setting exploits the outburst of the Wells Fargo scandal as a negative shock to the trust in banks. Using a difference-in-differences framework,...

This paper studies the impact of productivity on the flow of financial resources to and from firms. To do this we use machine learning methods (Lasso, XGBoost) to derive a new measure of firm productivity using standard corporate accounts. Output is sales revenue and we find that the key inputs...

This paper studies the predictability of firm profits using Fama-MacBeth regressions and gradient boosting. Gradient boosting can use more relevant factors and it predicts better. Profits are more predictable at firms that are large, investment grade, low R&D, low market-to-book, low cash flow...

This paper examines the effect of legal bankruptcy protection on small businesses. Using granular agricultural microdata, we use a regression discontinuity design to exploit farm eligibility for a unique bankruptcy code for farms known as Chapter 12. We find that farmers that qualify for this...

Using a nationwide restaurant sample, we document that minority-owned businesses are more likely to apply to the Paycheck Protection Program through fintech than traditional lenders. We motivate our analysis by a two-sided matching model where this phenomenon can be generated through "technology...

There is considerable evidence that machine learning algorithms have better predictive abilities than humans in various financial settings. But, the literature has not tested whether these algorithmic predictions are more rational than human predictions. We study the predictions of corporate...