changes in credit risk may arise when either the value or the risk of corporate assets changes. changes in the equity value associated with the changes in the asset value and changes in asset risk can be characterized into potentially countervailing direct and indirect effects. the indirect effect of risk on equity value is a function of factors that affect the debt value of including leverage,...

The main objective of the present study is to utilize a novel linearization strategy to linearize the convection terms of the quasi-one-dimensional Euler governing equations on collocated grids and to examine its shock-capturing capabilities. To avoid a pressure checkerboard problem on the collocated grids, it is necessary to utilize two velocity definitions at each cell face. Similarly, we def...

How do different databases define a firm? What are the rules for listing/de-listing firms across databases? In this paper we show that the listing/de-listing criteria across the CRSP and TAQ databases are different enough to impact the magnitude and direction of statistical profits of “momentum” portfolios. We show that while standard momentum returns established in the literature can be replic...

The momentum effect refers to a phenomenon that past winners will out performance in the future. In this paper, we examine of China’s stock market by using data set 2009-2022. Focusing on Anchor (52-Week-High momentum), VaR (left-tail momentum) and MOM (traditional cross-sectional indicator), use single variable sorting, double sorting Fama-Macbeth regression study strategies mentioned above. W...

In the present study, we experimentally tested the role of hand motor circuits in simple-arithmetic strategies. Educated adults solved simple additions (e.g., 8 + 3) or simple subtractions (e.g., 11 - 3) while they were required to retrieve the answer from long-term memory (e.g., knowing that 8 + 3 = 11), to transform the problem by making an intermediate step (e.g., 8 + 3 = 8 + 2 + 1 = 10 + 1 ...

The advent of New Zealand’s world-leading Digital Strategy underpins the increasing importance of ICTs in community settings. It also marks a significant change in government policy and the first time a government has adopted a whole of government approach to ICTs. This article provides a personal view of the policy process for creating the Digital Strategy, presented by one of the participants...

This paper will discuss recent initiatives to encourage the development of broadband networks in New Zealand. It is widely believed that the availability of good quality broadband will lead to improved economic development at the regional level. This paper considers the role played by both national and regional government in improving access to broadband. At a national level the government has ...