In this paper, we address the utility maximization problem of an infinitely lived agent who has the option to increase their income. The agent can increase their income at any time, but doing so incurs a wealth cost proportional to the amount of the...
We study an optimal consumption, leisure, and investment problem over a finite horizon in a continuous-time financial market with partial borrowing constraints. The agent derives utility from consumption and leisure, with preferences represented by a...
With the rapid evolution of the rural digital economy, analyzing the impact of digital literacy level on farm households’ formal borrowing is crucial for easing credit constraints and fostering rural economic growth. Leveraging the data from th...
In this paper, we study the effects of uncertainty shocks in a quantitative framework where firms in the corporate sector are constrained by credit. Specifically, we formulate borrowing constraints as a nested function that features both earnings and...
This paper investigates the effects of rural households’ demographic characteristics on formal credit constraint, and explores the relationship between informal and formal lending in rural China. Using 2013 China’s Household Finance surve...
This study investigates the effect of demographic factors on formal and informal borrowing households in rural Fujian Province. The study tests whether credit constraint affects rural farmers’ welfare in the studied region, using a probit regre...
We present the optimal consumption and investment strategy for an investor, endowed with labor income, searching to maximize utility from consumption and terminal wealth when facing a binding capital constraint of a European (constraint on terminal w...
The purpose of the study is to investigate whether bank diversification influences borrowing firms’ financial constraints on investment decisions. It also analyzes whether the different dimensions of bank diversification could alleviate financi...
A sustainable financing strategy for SMEs should aim to enhance a low-cost collateral-free supply of loans to SMEs with good track records of repayments to banks. In this paper, we suggest two alternative financing models for SMEs that address certai...
By designing credit contracts with inversely related interest rates and collateral, banks can overcome the problems of adverse selection and moral hazard when there is an informational asymmetry in competitive credit markets. One salient result point...
Loanword Research on Anglicisms has largely centered on lexical borrowing and phonological adaptation with comparatively limited attention to morphosyntactic integration in recipient grammars. This study examines the morphosyntactic behavior of 74 si...
One of the features of credit markets is that borrowers are sometimes rationed in the amount that they can borrow, which differentiates them from other markets. Small and micro enterprises (SMEs) are more likely to be eliminated than large and medium...
Since the introduction of a series of collective forest tenure reforms in China, diverse forestland mortgage financial products have been available even in rural areas. It is difficult for rural households to make appropriate financial decisions in o...
With the rapid advancement of digital technology, the banking industry has embarked on a journey of digital transformation. While existing literature primarily examines how these changes impact the banks themselves, our study focuses on a relatively...
This study examines lexical and syntactic convergence between Dai Lue and Chinese in the multilingual environment of Sipsongpanna, employing an apparent-time approach across three generational cohorts (N = 90, balanced gender). Through mixed-methods...
10 October 2021
The peer-to-peer lending market has developed rapidly over the past decade and reveals a severe problem of information asymmetry. This research constructed a four-party evolutionary game model to analyze the influence pathway of the guarantee mechani...
Small borrow pits in agricultural landscapes are difficult to monitor because exposed mining surfaces resemble bare cropland, extraction is intermittent, and production records are often limited. This study characterized borrow materials in Indramayu...
Green innovation is critical for promoting environmental protection but largely relies on the support of bank financing. How the participation of banks facilitates green innovation remains largely unexplored. Using a sample of A-share listed firms in...
Determinants and levels of working capital financing (WCF) in the manufacturing sector have been empirically proven to impact firm profitability across emerging as well as developed nations. With time, firms adjust toward financing their working capi...
This study examines the potential benefits of incorporating a lending-value criterion into the design of portfolios with long-term objectives. Because such portfolios often include significant positions in illiquid assets—typically difficult to...
In Latin America, over 50% of the population has relied on loans from family members or friends, reflecting the importance of trust-based networks in response to financial exclusion. This study examines how distrust in the formal financial system inf...
Sustainable rural development requires households to move beyond defensive medical spending and emergency borrowing toward more productive, forward-looking resource allocation. This study uses panel data from the China Household Finance Survey (CHFS)...
In this paper, we investigate the influential factors of Federal Housing Administration (FHA) mortgage loans, focusing our research interest on peer-to-peer (P2P) lending, the most successful FinTech lending model. We consider P2P lending an alternat...
We consider the problem of allocating heterogeneous objects to agents with money, where the number of agents exceeds that of objects. Each agent can receive at most one object, and some objects may remain unallocated. A bundle is a pair consisting of...
This study analyzes the constraints affecting agricultural production in the lagging regions of Bangladesh. These regions are lagging in agricultural productivity due to natural phenomena and past government policies. Ten lagging regions, covering ei...
Innovation sustainability requires sustainable financing. Extensive research suggests that debt is a disfavored source of innovation financing. In this study, we show that a recent financial development, credit default swaps (CDSs), may change the in...
The presence of small enterprises in developing countries makes new information on these enterprises substantially valuable for these countries. Governments have put forward numerous action plans and public policies to improve access to external cred...
Semi-supervised consensus clustering is a promising strategy to compensate for the subjectivity of clustering and its sensitivity to design factors, with various techniques being recently proposed to integrate domain knowledge and multiple clustering...
Extreme climatic events, including severe heatwaves, prolonged droughts, and anomalous flooding, can substantially disrupt agricultural production stability and further increase the risk of agricultural loan default. To address the limitations of con...
With reference to the National Recovery and Resilience Plan (NRRP), the financial budget provided for a specific project constitutes a fundamental constraint to be taken into account in the selection phase of the initiatives to be carried out. In the...
This paper presents an analysis of syntactic collocations that include the constraints on an adjective phrase (AP) and adverbs or final particles (X) in the ɬwa:n⁵ + AP + X construction, as well as its pragmatic features and grammatical fu...
Promoting clean cooking fuel adoption among rural households is critical for China’s rural energy transition. However, existing studies have largely overlooked the role of endogenous cognitive capabilities, particularly financial literacy, in s...
The standard models of stock-price dynamics and option valuation rest on stochastic processes postulated at the outset; here, we lay down an entropic-inference framework that derives these processes rather than assuming them, by making explicit the i...
In this paper, we provide a thorough review of novel machine learning (ML) models for anomalous sound detection (ASD). We focus on deploying models to highly constrained, embedded systems and tiny ML, and using single-channel sound as the data input....
Expected Shortfall (ES), the average loss above a high quantile, is the current financial regulatory market risk measure. Its estimation and optimization are highly unstable against sample fluctuations and become impossible above a critical ratio
Recently, China has witnessed a continuously increasing Debt-to-GDP ratio and a vigorously expanding shadow banking sector. Housing prices hovering at a high level seriously affect the lives of ordinary residents. Disappointingly, a variety of activi...
This study investigates the role of short sales in mitigating post-shock anomalies in stock returns within the context of China’s evolving short-sales regulations. Utilizing a unique dataset of daily short-sale volumes, this research examines h...
This paper investigates the effects of regional house prices on consumption growth, with a focus on heterogeneity across homeownership statuses and lifecycle stages, using household-level panel data in Korea from 2004 to 2017. The empirical estimatio...
In this paper, which is the third installment of the author’s trilogy on margin loan pricing, we analyze 1367 monthly observations of the U.S. broker call money rate, e.g., the interest rate at which stockbrokers can borrow to fund their margin...
This study considers a simple automotive supply chain that includes an automobile manufacturer with demand information and financial advantages and a financially constrained automobile lessor. The manufacturer can decide whether to provide financing...
This article traces the development of voiced prepalatal obstruents /
Public debt is determined by borrowings undertaken by a government to finance its short- or long-term financial needs and to ensure that macroeconomic objectives are met within budgetary constraints. In Romania, public debt has been on an upward traj...
9 April 2021
This cross-sectional study explored the differences in sociodemographics, dietary intake, and household foodways (cultural, socioeconomic practices that affect food purchase, consumption, and preferences) of food secure and food insecure older women...
Nowadays, optimization problems are solved through meta-heuristic algorithms based on stochastic search approaches borrowed from mimicking natural phenomena. Notwithstanding their successful capability to handle complex problems, the No-Free Lunch Th...
Many modern statistically efficient methods come with tremendous computational challenges, often leading to large-scale optimisation problems. In this work, we examine such computational issues for recently developed estimation methods in nonparametr...
This paper investigates the impact of the moderate growth of government borrowing on debt sustainability in 11 Russian regions over about 10 years, starting in 2010. The current study aims to assess the debt sustainability of the Russian region&rsquo...
The purpose of investigating livelihood strategies is to seek patterns that can be acted upon in order to improve livelihood prospects. This paper assesses household livelihood strategies and their determinates by asking (1) how urban households mana...
Agricultural credit rationing remains a persistent systemic friction driven by information opacity and limited collateral. This study develops a credit risk early-warning system by fusing multi-source institutional digital footprints (tax compliance...
Sicily is a Mediterranean island region whose economy is based especially on tourism, with tourists being attracted to its beaches. The whole coastline of the island, including its minor islands, is 1745 km. At the moment, considering the whole perio...
As geopolitical instability increases and new threats emerge, a number of countries are increasing their respective allocations for defence expenditure in order to take greater responsibility for their citizens in terms of defending and protecting th...
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