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The credit reporting system plays an important role in a credit economy, alleviating information asymmetry and reducing transaction costs. This article reviews the historical developments and…
24 November 2016 | Peer Reviewed | ChinaWe introduce the realized exponential GARCH model that can use multiple realized volatility measures for the modeling of a return series. The model specifies the dynamic properties of both returns and…
24 November 2016 | Peer Reviewed | ChinaThis paper evaluates whether the spirit of capitalism can explain the equity premium puzzle. The spirit of capitalism implies that investors acquire wealth not just for consumption, but also to…
24 November 2016 | Peer Reviewed | China