相关论文: Margin trading, short selling and corporate green …

To explore the relationship between corporate green technological innovation and the risk of stock price crashes, we first analyzed the data of listed companies in China from 2008 to 2018 and constructed indicators for the quantity and…

Margin trading in which investors purchase shares with money borrowed from brokers is blamed to be a major cause of the 2015 Chinese stock market crash. We propose a cascading failure model and examine how an increase in margin trading…

To address the dual environmental challenges of pollution and climate change, China has established multiple environmental markets, including pollution emissions trading, carbon emissions trading, energy-use rights trading, and green…

In order to protect brokers from customer defaults in a volatile market, an active margin system is proposed for the transactions of margin lending in China. The probability of negative return under the condition that collaterals are…

Digitalization is a crucial characteristic of the current era, and green innovation has become one of the necessary pathways for enterprises to achieve sustainable development. Based on financial and annual report data of Chinese A-share…

This study investigates the relationship between innovation activities and firm-level productivity among early-stage high-tech startups in China. Using a proprietary dataset encompassing patent records, R&D expenditures, capital valuation,…

Short sales are regarded as negative purchases in textbook asset pricing theory. In reality, however, the symmetry between purchases and short sales is broken by a variety of costs and risks peculiar to the latter. We formulate an optimal…

We propose an evolutionary competition model to investigate the green transition of firms, highlighting the role of adjustment costs, dynamically adjusted transition risk, and green technology progress in this process. Firms base their…

This study examines the relationship between human-AI technology integration transformation and green Environmental, Social, and Governance (ESG) performance in Chinese retail enterprises, with green technology innovation serving as a…

"Green Premiums" which means the difference in cost between emissions-emitting technology and zero-emissions or emissions-reducing technology is significant for those renewable energy technology to address the climate change challenge…

Margin system for margin loans using cash and stock as collateral is considered in this paper, which is the line of defence for brokers against risk associated with margin trading. The conditional probability of negative return is used as…

What impact does import competition have on firms' production organizational choices? Existing literature has predominantly focused on the relationship between import competition and firms' global production networks, with less attention…

This study examines the relationship between AI-driven digital transformation and firm performance in Chinese industrial enterprises, with particular attention to the mediating role of green digital innovation and the moderating effects of…

Amid China's dual-carbon transition, the synergistic alignment of green finance with green-technology innovation is pivotal for co-controlling pollution and CO2 emissions. Using panel data for 266 Chinese prefecture-level cities over…

An active margin system for margin loans is proposed for Chinese margin lending market, which uses cash and randomly selected stock as collateral. The conditional probability of negative return(CPNR) after a forced sale of securities from…

This paper studies firms' optimal response to a trade liberalization shock in terms of export and product innovation both theoretically and empirically. We find that trade liberalization, namely China's WTO accession, reduces trade cost and…

Platform giants in China have operated with persistently compressed margins in highly concentrated markets for much of the past decade, despite market shares exceeding 60\% in core segments. Standard theory predicts otherwise: either the…

Both in practice and in the academic literature, models for setting margin requirements in futures markets classically use daily closing price changes. However, as well documented by research on high-frequency data, financial markets have…

At a time when the phenomenon of 'AI washing' is quietly spreading, an increasing number of enterprises are using the label of artificial intelligence merely as a cosmetic embellishment in their annual reports, rather than as a genuine…

The paper investigates the effect of the label green in bond markets from the lens of the trading activity. The idea is that jumps in the dynamics of returns have a specific memory nature that can be well represented through a self-exciting…