Implementing financial sector policies that promote financial inclusion and growth is one of the key goals of developing economies. However, the outcomes are often spatially and temporally uneven. Yan Ji of HKUST and co-researchers develop an innovative model to examine the economic impacts of such policies across space and time, taking as a case study the ... 閱讀更多

When looking across the landscape of publicly listed companies in the U.S., it is tempting to assume that company valuations are based primarily on profitability. That is to say, it is natural to believe that a given company’s value reflects its ability to generate steady income streams that rise above and beyond expenses. But in the observed world, do ... 閱讀更多

Determining the ratio of product price to the marginal cost of production, otherwise known as the markup, is a key question in economics. In terms of the overall economy, markup variation affects the dynamics of inflation, the fluctuation of output and employment over business cycles, and the transmission of macroeconomic policies. At the firm level ... 閱讀更多

Lowering prices and offering discounts might be a sure-fire way for firms to attract consumers, but these tactics also cause huge fluctuations in competition intensity, with potentially serious implications for asset prices and returns. Surprisingly, however, this key issue has been neglected in asset pricing research. In a pioneering study, HKUST’s ... 閱讀更多

Key talents, such as executives and innovators, play a crucial role in driving a firm’s success and shaping public perceptions of its operations. However, such talents can also pose a risk to their firms. HKUST’s Yan Ji and his collaborators reveal that firms whose reputation rests more on the shoulders of leaders and innovators generate higher expected ... 閱讀更多