Marco Catola, Simone D'Alessandro, Pietro Guarnieri, Veronica Pizziol
In this study, we measure personal normative beliefs, empirical expectations, and normative expectations in a multilevel public goods game, where two local public goods are nested in a global one. We use these measures as indexes of subjective personal and social norms to pursue a twofold objective. On the one hand, we aim to understand whether and to what extent contribution decisions are driven by personal or social norms. On the other hand, we aim to investigate whether changes in the relative efficiency of the two public goods affect norms and norm compliance. In our online experiment, personal norms emerge as the main driver of contribution decisions especially when the efficiency of the related public good increases. However, compliance to empirical expectations signals that social norms still play a role in both positively affecting the contribution to the relative public good and negatively the contribution to the other one.
{"title":"Norms and Efficiency in a Multi-Group Society: An Online Experiment","authors":"Marco Catola, Simone D'Alessandro, Pietro Guarnieri, Veronica Pizziol","doi":"10.1111/jpet.70010","DOIUrl":"https://doi.org/10.1111/jpet.70010","url":null,"abstract":"<p>In this study, we measure personal normative beliefs, empirical expectations, and normative expectations in a multilevel public goods game, where two local public goods are nested in a global one. We use these measures as indexes of subjective personal and social norms to pursue a twofold objective. On the one hand, we aim to understand whether and to what extent contribution decisions are driven by personal or social norms. On the other hand, we aim to investigate whether changes in the relative efficiency of the two public goods affect norms and norm compliance. In our online experiment, personal norms emerge as the main driver of contribution decisions especially when the efficiency of the related public good increases. However, compliance to empirical expectations signals that social norms still play a role in both positively affecting the contribution to the relative public good and negatively the contribution to the other one.</p>","PeriodicalId":47024,"journal":{"name":"Journal of Public Economic Theory","volume":"27 1","pages":""},"PeriodicalIF":1.1,"publicationDate":"2024-12-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/jpet.70010","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142868695","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-12-16DOI: 10.1016/j.frl.2024.106631
Szabolcs Blazsek, Dejun Kong, Samantha R. Shadoff
We study the novel Markov-switching (MS) Beta-t-EGARCH (exponential generalized autoregressive conditional heteroscedasticity) model, using within-regime volatility dynamics, similar to the recent observable-switching (OS) Beta-t-EGARCH model. We report in-sample results on the Standard & Poor’s 500 (S&P 500) and a random sample of 50 firms from the S&P 500 from March 1986 to July 2024. We compare the out-of-sample forecasting performances of OS-Beta-t-EGARCH and MS-Beta-t-EGARCH from May 2005 to July 2024 and confirm that OS-Beta-t-EGARCH is superior to MS-Beta-t-EGARCH.
{"title":"Within-regime volatility dynamics for observable- and Markov-switching score-driven models","authors":"Szabolcs Blazsek, Dejun Kong, Samantha R. Shadoff","doi":"10.1016/j.frl.2024.106631","DOIUrl":"https://doi.org/10.1016/j.frl.2024.106631","url":null,"abstract":"We study the novel Markov-switching (MS) Beta-<mml:math altimg=\"si414.svg\" display=\"inline\"><mml:mi>t</mml:mi></mml:math>-EGARCH (exponential generalized autoregressive conditional heteroscedasticity) model, using within-regime volatility dynamics, similar to the recent observable-switching (OS) Beta-<mml:math altimg=\"si414.svg\" display=\"inline\"><mml:mi>t</mml:mi></mml:math>-EGARCH model. We report in-sample results on the Standard & Poor’s 500 (S&P 500) and a random sample of 50 firms from the S&P 500 from March 1986 to July 2024. We compare the out-of-sample forecasting performances of OS-Beta-<mml:math altimg=\"si414.svg\" display=\"inline\"><mml:mi>t</mml:mi></mml:math>-EGARCH and MS-Beta-<mml:math altimg=\"si414.svg\" display=\"inline\"><mml:mi>t</mml:mi></mml:math>-EGARCH from May 2005 to July 2024 and confirm that OS-Beta-<mml:math altimg=\"si414.svg\" display=\"inline\"><mml:mi>t</mml:mi></mml:math>-EGARCH is superior to MS-Beta-<mml:math altimg=\"si414.svg\" display=\"inline\"><mml:mi>t</mml:mi></mml:math>-EGARCH.","PeriodicalId":12167,"journal":{"name":"Finance Research Letters","volume":"81 1","pages":""},"PeriodicalIF":10.4,"publicationDate":"2024-12-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142841956","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-12-16DOI: 10.1016/j.frl.2024.106542
Seungho Baek, Moonsoo Kang
This study examines the impact of Environmental, Social, and Governance (ESG) practices on asset quality and funding cost management within the global banking sector, focusing on the role of income diversification. Motivated by the increasing importance of sustainability in finance, this research explores how ESG performance influences banks’ loan portfolio quality and funding costs, particularly through a focus on classical interest income from lending activities versus non-traditional non-interest income. Utilizing a dataset of 1,865 banks across both developed and emerging markets from 2005 to 2022, this study employs panel fixed-effect regression models to assess the relationship between ESG integration, income diversification, and financial outcomes. The findings reveal that banks with stronger ESG performance experience enhanced asset quality and reduced funding costs due to a greater reliance on interest income activities. However, over-diversification into non-interest income activities is associated with deteriorating asset quality and increased credit costs. These results have significant implications for financial risk management, regulatory policy, and the development of sustainable banking practices in both mature and developing financial markets. The study provides a foundation for guiding banking sector policies that balance revenue diversification and ESG sustainability, ultimately enhancing banks’ asset quality and funding cost management.
{"title":"Does ESG enhance asset quality and funding cost management in banking diversification?","authors":"Seungho Baek, Moonsoo Kang","doi":"10.1016/j.frl.2024.106542","DOIUrl":"https://doi.org/10.1016/j.frl.2024.106542","url":null,"abstract":"This study examines the impact of Environmental, Social, and Governance (ESG) practices on asset quality and funding cost management within the global banking sector, focusing on the role of income diversification. Motivated by the increasing importance of sustainability in finance, this research explores how ESG performance influences banks’ loan portfolio quality and funding costs, particularly through a focus on classical interest income from lending activities versus non-traditional non-interest income. Utilizing a dataset of 1,865 banks across both developed and emerging markets from 2005 to 2022, this study employs panel fixed-effect regression models to assess the relationship between ESG integration, income diversification, and financial outcomes. The findings reveal that banks with stronger ESG performance experience enhanced asset quality and reduced funding costs due to a greater reliance on interest income activities. However, over-diversification into non-interest income activities is associated with deteriorating asset quality and increased credit costs. These results have significant implications for financial risk management, regulatory policy, and the development of sustainable banking practices in both mature and developing financial markets. The study provides a foundation for guiding banking sector policies that balance revenue diversification and ESG sustainability, ultimately enhancing banks’ asset quality and funding cost management.","PeriodicalId":12167,"journal":{"name":"Finance Research Letters","volume":"32 1","pages":""},"PeriodicalIF":10.4,"publicationDate":"2024-12-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142884059","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-12-16DOI: 10.1177/00420980241295974
Sverre Bjerkeset
Chance interaction among diverse strangers is a much-celebrated feature of urbanity. The rise in privately owned and managed public spaces, tending to displace people, activities and exchanges that may threaten business interests, has thus raised broad concerns. However, how such ‘new’, high-profile public spaces of the neoliberal or entrepreneurial city differ from ‘traditional’, everyday ones in terms of spontaneous encounters, is not well covered in the ever-growing public space research. Drawing on long-term ethnographic fieldwork in Oslo, Norway, this article explores the occurrence of peaceful chance interactions among strangers in ‘new’ public space. In the two examined urban squares, representing ‘traditional’ and ‘new’ public space, strangers interact on a regularised versus an episodic basis, reflecting major differences in ‘contact-supporting circumstances’. A close reading of the pertinent scholarly literature indicates that these findings have a broader significance. The article’s key contribution is the detailed documentation and conceptualisation of basic circumstances that distinguish a ‘new’ from an ordinary, everyday public space with regards to chance interactions. Herein, the study points to an important shift in urban governance and planning since the 1980s. A market-led notion of attractiveness in the physical and social environment takes centre stage in prestigious urban developments, at the expense of the disordered exchanges of everyday life.
{"title":"Hello, stranger? How attraction trumps interaction in ‘new’ public space","authors":"Sverre Bjerkeset","doi":"10.1177/00420980241295974","DOIUrl":"https://doi.org/10.1177/00420980241295974","url":null,"abstract":"Chance interaction among diverse strangers is a much-celebrated feature of urbanity. The rise in privately owned and managed public spaces, tending to displace people, activities and exchanges that may threaten business interests, has thus raised broad concerns. However, how such ‘new’, high-profile public spaces of the neoliberal or entrepreneurial city differ from ‘traditional’, everyday ones in terms of spontaneous encounters, is not well covered in the ever-growing public space research. Drawing on long-term ethnographic fieldwork in Oslo, Norway, this article explores the occurrence of peaceful chance interactions among strangers in ‘new’ public space. In the two examined urban squares, representing ‘traditional’ and ‘new’ public space, strangers interact on a regularised versus an episodic basis, reflecting major differences in ‘contact-supporting circumstances’. A close reading of the pertinent scholarly literature indicates that these findings have a broader significance. The article’s key contribution is the detailed documentation and conceptualisation of basic circumstances that distinguish a ‘new’ from an ordinary, everyday public space with regards to chance interactions. Herein, the study points to an important shift in urban governance and planning since the 1980s. A market-led notion of attractiveness in the physical and social environment takes centre stage in prestigious urban developments, at the expense of the disordered exchanges of everyday life.","PeriodicalId":51350,"journal":{"name":"Urban Studies","volume":"89 1","pages":""},"PeriodicalIF":4.7,"publicationDate":"2024-12-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142831908","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-12-16DOI: 10.1016/j.jfineco.2024.103974
Mathijs Cosemans, Rik Frehen
This paper uses hand-collected historical data to provide empirical evidence on the strategic trading behavior of insiders and its consequences for outsiders. Specifically, we collect all equity trades of all insiders and outsiders in an era without legal restrictions on insider trading and a market where trading is non-anonymous. We find that access to private information creates a significant gap between the post-trade returns of insiders and outsiders. Consistent with theory, insiders capitalize on their information advantage by hiding their identity and timing their trades. Both experienced and inexperienced outsiders face expected losses due to this strategic insider trading.
{"title":"Strategic insider trading and its consequences for outsiders: Evidence from the eighteenth century","authors":"Mathijs Cosemans, Rik Frehen","doi":"10.1016/j.jfineco.2024.103974","DOIUrl":"https://doi.org/10.1016/j.jfineco.2024.103974","url":null,"abstract":"This paper uses hand-collected historical data to provide empirical evidence on the strategic trading behavior of insiders and its consequences for outsiders. Specifically, we collect all equity trades of all insiders and outsiders in an era without legal restrictions on insider trading and a market where trading is non-anonymous. We find that access to private information creates a significant gap between the post-trade returns of insiders and outsiders. Consistent with theory, insiders capitalize on their information advantage by hiding their identity and timing their trades. Both experienced and inexperienced outsiders face expected losses due to this strategic insider trading.","PeriodicalId":51346,"journal":{"name":"Journal of Financial Economics","volume":"19 1","pages":""},"PeriodicalIF":8.9,"publicationDate":"2024-12-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142873968","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-12-16DOI: 10.1177/00420980241297839
Carl Grodach, Nícolas Guerra-Tão
This research focuses on identifying the nuanced land use dynamics of urban industrial zones. Industrial lands in major Western cities have undergone significant change in the face of increasingly competitive property markets. At the same time, many countries seek to reshore manufacturing and support local industrial activity amid changes in production technologies, global supply chain shocks and geopolitical insecurity. Yet policymakers often fail to seriously consider the contemporary character of industrial zones and research has yet to analyse this in a systematic way. In response, we employ k-means cluster analysis to develop a typology of industrial zones in Melbourne, Australia. The typology captures a range of industrial zone clusters, which vary by industry mix, specialisation and spatial pattern. While some clusters represent traditional industrial areas, others are highly diverse in terms of firm and employment mix encompassing service sector activity and specialised manufacturing industries. These variations underscore the limitations of traditional zoning frameworks focused predominately on use separation and point towards the need for more responsive and context-specific urban economic development and industrial land use policies.
{"title":"Zoning a productive city? A typology of clustering, diversity and specialisation in Melbourne’s urban industrial areas","authors":"Carl Grodach, Nícolas Guerra-Tão","doi":"10.1177/00420980241297839","DOIUrl":"https://doi.org/10.1177/00420980241297839","url":null,"abstract":"This research focuses on identifying the nuanced land use dynamics of urban industrial zones. Industrial lands in major Western cities have undergone significant change in the face of increasingly competitive property markets. At the same time, many countries seek to reshore manufacturing and support local industrial activity amid changes in production technologies, global supply chain shocks and geopolitical insecurity. Yet policymakers often fail to seriously consider the contemporary character of industrial zones and research has yet to analyse this in a systematic way. In response, we employ k-means cluster analysis to develop a typology of industrial zones in Melbourne, Australia. The typology captures a range of industrial zone clusters, which vary by industry mix, specialisation and spatial pattern. While some clusters represent traditional industrial areas, others are highly diverse in terms of firm and employment mix encompassing service sector activity and specialised manufacturing industries. These variations underscore the limitations of traditional zoning frameworks focused predominately on use separation and point towards the need for more responsive and context-specific urban economic development and industrial land use policies.","PeriodicalId":51350,"journal":{"name":"Urban Studies","volume":"58 1","pages":""},"PeriodicalIF":4.7,"publicationDate":"2024-12-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142831910","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-12-16DOI: 10.1016/j.frl.2024.106652
Huilin Wang, Jiliang Liu
Based on panel data from 2011 to 2022, this paper explores the correlation between the aging of population and public education expenditure. The baseline regression indicates that the intensification of the aging population suppresses the intensity of public education expenditure. Mechanism analysis confirms that digital inclusive finance and urbanization can mitigate this suppressive effect. Additionally, heterogeneity analysis reveals that differences in social consumption levels and geographical locations lead to variations in the suppressive effect of the aging population.
{"title":"Aging of population, digital financial inclusion, and public education expenditure","authors":"Huilin Wang, Jiliang Liu","doi":"10.1016/j.frl.2024.106652","DOIUrl":"https://doi.org/10.1016/j.frl.2024.106652","url":null,"abstract":"Based on panel data from 2011 to 2022, this paper explores the correlation between the aging of population and public education expenditure. The baseline regression indicates that the intensification of the aging population suppresses the intensity of public education expenditure. Mechanism analysis confirms that digital inclusive finance and urbanization can mitigate this suppressive effect. Additionally, heterogeneity analysis reveals that differences in social consumption levels and geographical locations lead to variations in the suppressive effect of the aging population.","PeriodicalId":12167,"journal":{"name":"Finance Research Letters","volume":"293 1","pages":""},"PeriodicalIF":10.4,"publicationDate":"2024-12-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142884058","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-12-16DOI: 10.1016/j.frl.2024.106590
Pascal François, Geneviève Gauthier, Frédéric Godin, Carlos Octavio Pérez Mendoza
Horikawa and Nakagawa (2024) claim that in a complete market admitting statistical arbitrage, the difference between the deep hedging and the replicating portfolio hedging positions is a statistical arbitrage. Deep hedging can thus include an undesirable speculative component. We test whether this remains true in a GARCH-based incomplete market dynamics. We observe that the difference between deep hedging and delta hedging is a speculative overlay if the risk measure considered does not put sufficient relative weight on adverse outcomes. Nevertheless, a suitable choice of risk measure can prevent the deep hedging agent from engaging in speculation.
{"title":"Is the difference between deep hedging and delta hedging a statistical arbitrage?","authors":"Pascal François, Geneviève Gauthier, Frédéric Godin, Carlos Octavio Pérez Mendoza","doi":"10.1016/j.frl.2024.106590","DOIUrl":"https://doi.org/10.1016/j.frl.2024.106590","url":null,"abstract":"Horikawa and Nakagawa (2024) claim that in a complete market admitting statistical arbitrage, the difference between the deep hedging and the replicating portfolio hedging positions is a statistical arbitrage. Deep hedging can thus include an undesirable speculative component. We test whether this remains true in a GARCH-based incomplete market dynamics. We observe that the difference between deep hedging and delta hedging is a speculative overlay if the risk measure considered does not put sufficient relative weight on adverse outcomes. Nevertheless, a suitable choice of risk measure can prevent the deep hedging agent from engaging in speculation.","PeriodicalId":12167,"journal":{"name":"Finance Research Letters","volume":"1 1","pages":""},"PeriodicalIF":10.4,"publicationDate":"2024-12-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142841957","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
David Doloreux, Claudia De Fuentes, Jahan Ara Peerally, Stephen Quilley
This article analyses the case of the wine industry in rural Nova Scotia (Canada) and addresses the following question: what sparks a new wine industry path in rural regions that lack supportive preconditions and local assets? We examine this from the perspective of different actors and their agencies when creating the conditions and structures for shaping new path development. Our findings provide a novel, empirically based understanding of individual and system-level agency and a nuanced account of new industrial path development in rural regions, which is often missing in contemporary debates.
{"title":"New industrial path development in “less glamorized regions”: actors, agencies, and rural opportunities","authors":"David Doloreux, Claudia De Fuentes, Jahan Ara Peerally, Stephen Quilley","doi":"10.1093/jeg/lbae045","DOIUrl":"https://doi.org/10.1093/jeg/lbae045","url":null,"abstract":"This article analyses the case of the wine industry in rural Nova Scotia (Canada) and addresses the following question: what sparks a new wine industry path in rural regions that lack supportive preconditions and local assets? We examine this from the perspective of different actors and their agencies when creating the conditions and structures for shaping new path development. Our findings provide a novel, empirically based understanding of individual and system-level agency and a nuanced account of new industrial path development in rural regions, which is often missing in contemporary debates.","PeriodicalId":48251,"journal":{"name":"Journal of Economic Geography","volume":"50 1","pages":""},"PeriodicalIF":2.9,"publicationDate":"2024-12-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142832638","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The trade developments of the first quarter of the 21st century prompt speculation on how future generations will perceive them. Will they interpret this era as one where deglobalization took root and flourished, marked by a slowdown in world trade? Or will they view it as a mere pause in globalization’s upward trajectory? The literature explores these possibilities, noting the impact of events like the Financial Crisis, COVID-19 lockdowns and the Ukraine and Gaza wars on world trade. There is disagreement over whether globalization is receding or evolving. Three scenarios offer varied perspectives, from a bleak outlook of disintegrating international relations to a more optimistic view where deglobalization is seen as a temporary setback. These scenarios highlight the complexity and uncertainty surrounding (de)globalization, emphasizing the need for interdisciplinary analysis and a nuanced understanding of global trends.
{"title":"Deglobalization: three scenarios","authors":"Peter A G van Bergeijk","doi":"10.1093/cjres/rsae037","DOIUrl":"https://doi.org/10.1093/cjres/rsae037","url":null,"abstract":"The trade developments of the first quarter of the 21st century prompt speculation on how future generations will perceive them. Will they interpret this era as one where deglobalization took root and flourished, marked by a slowdown in world trade? Or will they view it as a mere pause in globalization’s upward trajectory? The literature explores these possibilities, noting the impact of events like the Financial Crisis, COVID-19 lockdowns and the Ukraine and Gaza wars on world trade. There is disagreement over whether globalization is receding or evolving. Three scenarios offer varied perspectives, from a bleak outlook of disintegrating international relations to a more optimistic view where deglobalization is seen as a temporary setback. These scenarios highlight the complexity and uncertainty surrounding (de)globalization, emphasizing the need for interdisciplinary analysis and a nuanced understanding of global trends.","PeriodicalId":47897,"journal":{"name":"Cambridge Journal of Regions Economy and Society","volume":"48 1","pages":""},"PeriodicalIF":4.4,"publicationDate":"2024-12-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142831918","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}