A decentralized online quantum cash system, called qBitcoin, is given. We design the system which has great benefits of quantization in the following sense. Firstly, quantum teleportation technology is used for coin transaction, which prevents an owner of a coin from keeping the original coin data after sending the coin to another. This was a main problem in systems using classical information ...

Antitrust authorities often argue that merchants cannot reasonably turn down payment cards and therefore must accept excessively high merchant discounts. The paper attempts to shed light on this “must-take cards” view from two angles. First, the paper gives some operational content to the notion of “must-take card” through the “avoided-cost test” or “tourist test”: would the merchant want to re...

With the rapid development of the Internet and information technology, electronic commerce system is flourishing. In electronic commerce, customers use electronic money (e-money) instead of cash. E-money in wide use includes electronic cash, electronic checks, electronic coupons, and so on. E-money is fixed at face-value and is backed by banks. The fact that e-money is not issued in the actual ...

Cumulative abnormal return (CAR) is estimated as long-term shareholder wealth of private placement, and we propose empirical evidence of the effect of private placement on long-term shareholder wealth. Private placement of listed firms has significantly positive effect on long-term shareholder wealth. Cumulative abnormal return are positively related with offer type of private placement at the ...

E-cash algorithms offer strong protection on principal anonymity, transaction authenticity and quota enforcement of credit dispense but as of now there is no study on how to integrate them with the resource allocation schemes. In this paper, we propose a hypercube based tracking system for both credit dispense and resource allocation of computing assets using E-cash algorithms. Hypercube is cho...

Abstract Increasing the tax compliance of self-employed business owners—particularly trade-specific service providers such as those involved in construction and repair work—remains an ongoing challenge for authorities. From a point view, cash transactions are particularly problematic when services paid on spot, these exchanges difficult to audit. We present experimental evidence testing ten dif...

environmental characteristics, including the quality of green spaces, constitute one of the determinants of buildings (house & apartment) transaction prices. in this research, impact of urban green space on building's transaction prices (rials/m2) in karaj region, district 1 (jahanshahr), was analyzed. therefore, a questionnaire concerning building characteristics and transaction prices wa...

We empirically examine how governance structure affects the design of executive compensation contracts and, in particular, the implicit weights of firm performance measures in CEO compensation. We find that compensation contracts in firms with higher takeover protection and where the CEO has more influence on governance decisions put more weight on accounting-based measures of performance (retu...

The uniform-price auction is used in many regional electricity procurement auctions and its “collusive-seeming equilibria” have been linked to potential exercise of market power. Such equilibria do not exist, however, if a small amount of cash is split among rationed bidders. To shed light on what drives this result, I also examine variations in which the auctioneer is able to increase and/or d...

This paper empirically examines whether additional future fixed capital and R&D investment expenditures induce firms to accumulate cash reserves while considering the role of market imperfections. Implementing a dynamic framework on a panel of US, UK and German companies, we find that firms make larger additions to cash holdings when they plan additional future R&D rather than fixed capital inv...