期刊：
International Review of Economics & Finance,2022年80:1025-1044 ISSN：1059-0560
通讯作者：
Li Li
作者机构：
[Xiang, Jingjie] Cent China Normal Univ, Sch Econ & Business Adm, Wuhan, Hubei, Peoples R China.;[Li, Li] Hong Kong Univ Sci & Technol, Dept ISOM, Hong Kong, Peoples R China.
通讯机构：
[Li Li] D;Department of ISOM, Hong Kong University of Science and Technology, China
摘要：
This paper studies how monetary policy uncertainty (MPU) propagates to real economic activities in China, and suggests that debt financing cost plays a pivotal role. Our empirical analysis, based on firm-level panel data, indicates that the rise in MPU leads to a significant increase in debt financing cost, which further reduces firm investment. The interacted VAR model based on macro-level data also suggests that the deflationary effect of MPU is intensified when debt level is high. Moreover, we present a theoretical framework of DSGE analysis to formalize how the rise in MPU depresses economic activities. Simulations featuring default risks and uncertainty shocks support evidence that MPU is transmitted to the real sector through debt financing cost channel.
作者：
Silu Chen;Wenxing Liu;Guanglei Zhang;Hai-Jiang Wang;Silu Chen Silu Chen Silu Chen;...
期刊：
Business Ethics the Environment & Responsibility,2022年31(2):524-535 ISSN：2694-6416
通讯作者：
Zhang, G.
作者机构：
[Hai-Jiang Wang; Hai-Jiang Wang Hai-Jiang Wang Hai-Jiang Wang] School of Management, Huazhong University of Science and Technology, Wuhan, China;[Guanglei Zhang; Guanglei Zhang Guanglei Zhang Guanglei Zhang] School of Management, Wuhan University of Technology, Wuhan, China;[Wenxing Liu; Wenxing Liu Wenxing Liu Wenxing Liu] School of Business Administration, Zhongnan University of Economics and Law, Wuhan, China;[Silu Chen; Silu Chen Silu Chen Silu Chen] School of Economics and Business Administration, Central China Normal University, Wuhan, China
通讯机构：
[Guanglei Zhang; Guanglei Zhang Guanglei Zhang Guanglei Zhang] S;School of Management, Wuhan University of Technology, Wuhan, China
关键词：
ethical human resource management;illegitimate task;moral disengagement;unethical behaviour
作者机构：
[Zhang, Yannan; Liu, Wenxing; Zhu, Yanghao] Zhongnan Univ Econ & Law, Sch Business Adm, 182 Nanhu Ave East Lake High Tech Dev Zone, Wuhan 430073, Peoples R China.;[Chen, Silu] Cent China Normal Univ, Sch Econ & Business Adm, Wuhan, Peoples R China.;[Qin, Feng] Jiujiang Univ, Sch Management, Jiujiang, Peoples R China.
通讯机构：
[Zhu, Yanghao] Z;Zhongnan Univ Econ & Law, Sch Business Adm, 182 Nanhu Ave East Lake High Tech Dev Zone, Wuhan 430073, Peoples R China.
关键词：
Unethical pro-organizational behavior;psychological entitlement;unethical behavior;leader gratitude expression;moral licensing theory
作者机构：
[Zhu, Junpeng] Cent China Normal Univ, Sch Econ & Business Adm, Wuhan, Peoples R China.;[Lin, Boqiang] Xiamen Univ, Sch Management, China Inst Studies Energy Policy, Xiamen 361005, Fujian, Peoples R China.;[Lin, Boqiang] Innovat Lab Sci & Technol Energy Mat Fujian Prov, Xiamen 361005, Peoples R China.
通讯机构：
[Lin, Boqiang] X;Xiamen Univ, Sch Management, China Inst Studies Energy Policy, Xiamen 361005, Fujian, Peoples R China.
作者机构：
[Ding, Weibin] State Grid Zhejiang Elect Power Co Ltd, Hangzhou 310012, Peoples R China.;[Li, Jie] Jinhua Power Supply Co State Grid Zhejiang Elect P, Jinhua 321000, Peoples R China.;[Jin, Dian; Kong, Jiayang] Cent China Normal Univ, Sch Econ & Business Adm, Wuhan 430079, Peoples R China.;[Jin, Dian; Kong, Jiayang] Cent China Normal Univ, Sch Math & Stat, Wuhan 430079, Peoples R China.;[Kong, Jiayang] Cent China Normal Univ, Res Ctr Low Carbon Econ & Environm Pol, Wuhan 430079, Peoples R China.
通讯机构：
[Dian Jin; Jiayang Kong; Weibin Ding] S;[Jie Li] J;School of Economics and Business Administration,Central China Normal University,Wuhan 430079,China<&wdkj&>School of Mathematics and Statistics,Central China Normal University,Wuhan 430079,China<&wdkj&>Research Center of Low-Carbon Economy and Environmental Policies,Central China Normal University,Wuhan 430079,China<&wdkj&>School of Economics and Business Administration,Central China Normal University,Wuhan 430079,China<&wdkj&>School of Mathematics and Statistics,Central China Normal University,Wuhan 430079,China<&wdkj&>State Grid Zhejiang Electric Power Co.,Ltd.,Hangzhou 310012,China<&wdkj&>Jinhua Power Supply Company of State Grid Zhejiang Electric Power co.,Ltd.,Jinhua 321000,China
关键词：
Introduction;Materials and Methods;Results;Discussion;Conclusion;Abstract;Data Availability;Additional Points;Ethical Approval;Consent;Disclosure;Conflicts of Interests;Authors’ Contributions;Funding Statement;Acknowledgements;Acknowledgments;Supplementary Materials;Reference;Dataset Description;Dataset Files;Abstract;Introduction;Introduction and Materials;Introduction and Methods;Materials;Materials and Methods;Methods;Results;Discussion;Results and Discussion;Discussion and Conclusion;Results and Conclusion;Conclusion;Conclusions;Data Availability;Additional Points;Ethical Approval;Consent;Disclosure;Conflicts of Interest;Authors’ Contributions;Funding Statement;Acknowledgements;Supplementary Materials;References;Appendix;Abbreviations;Preliminaries;Introduction and Preliminaries;Notation;Proof of Theorem;Proofs;Analysis of Results;Examples;Numerical Example;Applications;Numerical Simulation;Model;Model Formulation;Systematic Palaeontology;Nomenclatural Acts;Taxonomic Implications;Experimental;Synthesis;Overview;Characterization;Background;Experimental;Theories;Calculations;Model Verification;Model Implementation;Geographic location;Study Area;Geological setting;Data Collection;Field Testing;Data and Sampling;Dataset;Literature Review;Related Works;Related Work;System Model;Methods and Data;Experimental Results;Results and Analysis;Evaluation;Implementation;Case Presentation;Case Report;Search Terms;Case Description;Case Series;Background;Limitations;Additional Points;Case;Case 1;Case 2 etc.;Concern Details;Retraction Details;Copyright;Related Articles
摘要：
Researcher and analyst are often interested in estimating the effect of an intervention or treatment, which takes place at the aggregate level and affect one single unit, such as country and region. Thus, comparative case studies would be their first choice in practice. However, comparative case studies could fail to yield an estimate in the effect that is unbiased and consistent, as in some contexts; there are not suitable control units that are similar to the treated. The econometric literature has taken synthetic control methods and panel data approaches to this problem. In this study, we developed a principal covariate regression estimator, which exploits the cross-sectional correlation, as well as the temporal dependency, to reproduce the dynamics of the treated in the absence of an event or policy. From a theoretical perspective, we introduce the statistical literature on dimensional reduction to make a causal inference. From a technique perspective, we combine the vertical regression and the horizontal regression. We constructed an annual panel of 38 states, to evaluate the effect of Proposition 99 on beer sales in California, using the principal covariate regression estimator proposed here. We find that California’s tobacco control program had a significant negative and robust effect on local beer consumption, suggesting that policymakers could reduce the use of cigarette and alcohol in the public using one common behavioral intervention.
期刊：
Discrete Dynamics in Nature and Society,2022年2022 ISSN：1026-0226
通讯作者：
Kong, J.
作者机构：
[Yao, Riquan] State Grid Zhejiang Elect Power Co Ltd, Huzhou Power Supply Co, Huzhou, Peoples R China.;[Jin, Shaojun] State Grid Zhejiang Elect Power Co Ltd, Hangzhou, Peoples R China.;[Wei, Cong] Zhejiang Univ Finance & Econ, Sch Econ, Hangzhou, Peoples R China.;[Kong, Jiayang] Cent China Normal Univ, Sch Econ & Business Adm, Wuhan, Peoples R China.;[Kong, Jiayang] Cent China Normal Univ, Sch Math & Stat, Wuhan, Peoples R China.
通讯机构：
[Cong Wei; Jiayang Kong; Shaojun Jin] S;[Riquan Yao] H;School of Economics and Business Administration,Central China Normal University,Wuhan,China<&wdkj&>School of Mathematics and Statistics,Central China Normal University,Wuhan,China<&wdkj&>School of Business and Economics,Maastricht University,Maastricht,Netherlands<&wdkj&>State Grid Zhejiang Electric Power Co, Ltd,Hangzhou,null,China<&wdkj&>School of Economics,Zhejiang University of Finance and Economics,Hangzhou,China<&wdkj&>Huzhou Power Supply Company of State Grid Zhejiang Electric Power Co, Ltd,Huzhou,null,China
关键词：
Introduction;Materials and Methods;Results;Discussion;Conclusion;Abstract;Data Availability;Additional Points;Ethical Approval;Consent;Disclosure;Conflicts of Interests;Authors’ Contributions;Funding Statement;Acknowledgements;Acknowledgments;Supplementary Materials;Reference;Dataset Description;Dataset Files;Abstract;Introduction;Introduction and Materials;Introduction and Methods;Materials;Materials and Methods;Methods;Results;Discussion;Results and Discussion;Discussion and Conclusion;Results and Conclusion;Conclusion;Conclusions;Data Availability;Additional Points;Ethical Approval;Consent;Disclosure;Conflicts of Interest;Authors’ Contributions;Funding Statement;Acknowledgements;Supplementary Materials;References;Appendix;Abbreviations;Preliminaries;Introduction and Preliminaries;Notation;Proof of Theorem;Proofs;Analysis of Results;Examples;Numerical Example;Applications;Numerical Simulation;Model;Model Formulation;Systematic Palaeontology;Nomenclatural Acts;Taxonomic Implications;Experimental;Synthesis;Overview;Characterization;Background;Experimental;Theories;Calculations;Model Verification;Model Implementation;Geographic location;Study Area;Geological setting;Data Collection;Field Testing;Data and Sampling;Dataset;Literature Review;Related Works;Related Work;System Model;Methods and Data;Experimental Results;Results and Analysis;Evaluation;Implementation;Case Presentation;Case Report;Search Terms;Case Description;Case Series;Background;Limitations;Additional Points;Case;Case 1;Case 2 etc.;Concern Details;Retraction Details;Copyright;Related Articles
摘要：
The grey model, which is abbreviated as GM (1, 1), has been widely applied in the fields of decision and prediction, particularly in the prediction of time series with few observations, referred to as the poor information and small sample in the literature related to grey model. Previous studies focus on improving the accuracy of prediction but pay less attention to the robustness of the grey model to outliers, which often occur in practice due to an incorrect record by chance or an accidental failure in equipment. To fill that void, we develop a robust grey model, whose structural parameters are obtained from the least trim squares, to forecast Chinese electricity demand. Also, we use the last value in the first-order accumulative generating time series as the initial value, according to the new information priority criterion. We name the novel grey model, proposed in this paper, the novel robust grey model integrating the new information priority criterion, which could be abbreviated as NIPC-GM (1, 1). In addition, we introduce a novel approach, that is, the bootstrapping test, to investigate the robustness against outliers for the novel robust grey model and the classical grey model, respectively. Using the data on Chinese electricity demand from 2011 to 2021, we find that not only does the novel robust grey model integrating the new information priority criterion have a better robustness to outliers than the classical grey model, but it also has a higher accuracy of prediction than the classical grey model. Finally, we apply the novel robust grey model integrating the new information priority criterion to forecasting the future values in Chinese electricity demand during the period 2022 to 2025. We see that Chinese electricity demand would continue to rise in the next four years.
期刊：
Frontiers in Environmental Science,2022年10:919600 ISSN：2296-665X
通讯作者：
Zhou, C.
作者机构：
[Wei, Wei; Xie, Weikun] Cent China Normal Univ, Sch Econ, Wuhan, Peoples R China.;[Zhou, Chengying] Nankai Univ, Sch Econ, Tianjin, Peoples R China.;[Wei, Wei; Xie, Weikun] Cent China Normal Univ, Business Adm, Wuhan, Peoples R China.
通讯机构：
[Zhou, C.] S;School of Economics, Nankai University, Tianjin, China
