American Business Review

This empirical research study endeavors to elevate our understanding of the interrelationship of several aspects of economic dynamism at the state level in the United States. We investigate the factors influencing geographic mobility, i.e., both net in-migration and gross in-migration patterns, by simultaneously focusing on two hypotheses using state-level panel data covering the period 2005-2017, as well as Pre-Great Recession and Post-Great Recession sub-periods thereof. These two hypotheses are as follows: the pattern of geographic mobility is positively impacted by a business climate that is (a) friendly to the pursuit of entrepreneurship per se on the one hand and (b) migrants are attracted to environments having greater labor market freedom on the other hand. This paper reveals that these two hypotheses receive simultaneous empirical support (i.e., they are not incompatible with one another).

Richard J. Cebula

G. Jason Jolley

Economic Dynamism: Interrelationships among Entrepreneurship-Friendly Environments, Geographic Mobility, and Labor Market Freedom in both the Pre- and Post-Great Recession Periods

经济活力：创业友好环境、地理流动性和劳动力市场自由在经济衰退前后的相互关系

Over the past two decades, more than 11,000 U.S. counties have been impacted by natural disasters. This study investigates how banks and their depositors respond to such events using a difference-in-difference-in-differences (DDD) methodology combined with coarsened exact matching (CEM). Analyzing 1.3 million observations from 1999 to 2017, we find that natural disasters lead to a significant increase in deposit rates but do not affect the volume of deposits. Our findings suggest that banks raise deposit rates to counteract the potential withdrawal of funds, thereby maintaining stable deposit levels. This research provides new insights into the causal dynamics of deposit supply and demand in the face of natural disasters.

James R. Barth

Kang-Bok Lee

Yeosong Yoon

What Do Quasi-Experiments Tell Us About the Response of Banks and Their Depositors to Natural Disasters?

准实验告诉我们银行及其储户对自然灾害的反应是什么？

We introduce a cultural perspective, Yin-Yang logic, to explore how street-level policy entrepreneurs (SLPEs) formulate policy and foster inter-local collaborations across 14 Chinese cities. Drawing on a case forming the Chinese Eastern Northeast Economic Zone (2003-2016), we identify 20 critical incidents through interviews and content analysis. We make four main theoretical contributions: (i) this study is the first in the SLPEs literature to introduce a cultural perspective, the Yin-Yang logic, for understanding the complex yet central role that SLPEs play in policy innovation; (ii) it reveals a sequential six-stage process view in policy innovation formation from the Yin-Yang perspective; (iii) it extends our understanding of policy actors, SLPEs, as change agents outside Western democracies and provides the Yin-Yang perspective for dealing with the contextual paradoxical conditions; and (iv) SLPEs demonstrate three Yin-Yang framed capabilities in harnessing the natural momentum (shi) generated by the interaction and balancing forces of Yin-Yang dynamics.

Monica Ren

Hua Xing

Puyao Xing

A Yin-Yang Perspective of Street-Level Policy Entrepreneurs

街头政策企业家之阴阳视角

Research examines the process through which regulatory agencies and other powerful third parties publicly disseminate information about organizations in order to reduce the information asymmetry between those organizations and their dispersed or less powerful stakeholders. These disclosure programs are presumed to work by mobilizing stakeholders to pressure organizations for change. Prior studies focus on organizations’ resistance to that external pressure, often drawing from theories of institutional forces and organizational legitimacy. Instead, the present study examines the public disclosure process itself, and adapts research on organizational learning and collective attention focus to develop new theory regarding how organizations may selectively time their practices to influence these disclosures in their favor. Results suggest that organizations may respond to disclosure programs and other governance structures when actively monitored, but may drift out of compliance during intervening periods. Findings also suggest that strong governance outside of the regulatory disclosure process can help to reduce these problems. The study contributes to corporate governance, organizational learning, and other literatures by developing new theory regarding the timing of organizational responses to regulatory interventions, and by providing evidence that overlapping forms of oversight may mitigate the limitations within any one particular governance mechanism.

Vinit Desai

Shifting Under Pressure: Timing Practices within Regulatory Information Disclosure Programs

压力下的转变：监管信息披露计划中的时间安排实践

Information asymmetry about a firm's value has been identified in the literature as an obstacle in restructuring the debt of an insolvent firm. We explore the possibility of a restructuring under complete and symmetric information between a firm and its creditors in a creditor-friendly bankruptcy regime. Using a model, we determine the feasibility conditions for restructuring. Our results show that restructuring the firm's debts may not be possible even if it is known to the creditors that the firm's value under the present management is higher than that under a bankruptcy sale. The firm's value under restructuring must also be large enough to pay the full claim of the unsecured creditor and pay the secured creditor a little more than the claim payment they receive in a bankruptcy sale. The results highlight the role of creditors' legal rights in a creditor-friendly regime in leading a firm towards a bankruptcy sale even when the creditors know that the firm's value is more under the present management.

Rajesh Kumar Acha

Sumit Sarkar

Apratim Guha

Kanagaraj Ayyalusamy

A Model of Insolvency Resolution: When is Bankruptcy Inefficient?

破产解决模型：何时破产是低效的？

The first passage time probabilities have applications in many fields, including Finance, Marketing, Economics, Physics, and Statistics. In this paper, we study the first passage time probabilities for a Pearson diffusion process and obtain the lower and upper bounds of the first passage time density. We show that the density may be approximated by the upper bound with an error of approximately five percent. We present an application by modelling the profit and loss function of the S&amp;P 500, FTSE 100 and DAX 40 index options using a Pearson diffusion process. Further, we establish the relation between first passage time probabilities and MaxVaR, i.e., the intra-horizon risk and obtain the MaxVaR for various index options based on first passage time probabilities. This is important as MaxVaR can capture the risk and potential losses incurred at any time of the trading horizon. In addition, we conduct a sensitivity analysis on the parameters for the purpose of robustness.

Saswat Patra

Malay Bhattacharyya

Charting the Unknown: First Passage Time Probabilities for Pearson Diffusion Process and Application to Options Risk Management

绘制未知领域：皮尔逊扩散过程的首通时间概率及其在期权风险管理中的应用

涉及主题	经济业务计算机科学政治学法学数学财务哲学心理学管理工程类地理统计生物物理历史考古社会学微观经济学社会心理学
出版信息	出版商: Pompea College of Business, University of New Haven，出版周期: ，期刊类型: journal，开源期刊: 是
基本数据	创刊年份: 2020，原创研究文献占比: 0.00%，自引率:N.A.， Gold OA占比: 0.00%
平均审稿周期	网友分享经验：8 Weeks

American Business Review

期刊引文格式

有 1 位以上作者的期刊

有 2 位作者的期刊

有 3 位作者的期刊

有 5 位以上作者的期刊

书籍引用格式

学位论文引用格式

网页引用格式

专利引用格式

手工熬夜修改参考文献？研飞自动匹配期刊，一键轻松成稿，支持 Word/WPS

投稿经验分享

Economic Dynamism: Interrelationships among Entrepreneurship-Friendly Environments, Geographic Mobility, and Labor Market Freedom in both the Pre- and Post-Great Recession Periods

What Do Quasi-Experiments Tell Us About the Response of Banks and Their Depositors to Natural Disasters?

A Yin-Yang Perspective of Street-Level Policy Entrepreneurs

Shifting Under Pressure: Timing Practices within Regulatory Information Disclosure Programs

A Model of Insolvency Resolution: When is Bankruptcy Inefficient?

Charting the Unknown: First Passage Time Probabilities for Pearson Diffusion Process and Application to Options Risk Management

Economic Dynamism: Interrelationships among Entrepreneurship-Friendly Environments, Geographic Mobility, and Labor Market Freedom in both the Pre- and Post-Great Recession Periods

What Do Quasi-Experiments Tell Us About the Response of Banks and Their Depositors to Natural Disasters?

A Yin-Yang Perspective of Street-Level Policy Entrepreneurs

Shifting Under Pressure: Timing Practices within Regulatory Information Disclosure Programs

ISSN	0743-2348, 2689-8810
h-index	5