arXiv · arXiv q-fin · 2009
Labour productivity distribution (dispersion) is studied both theoretically and empirically. Superstatistics is presented as a natural theoretical framework for productivity. The demand index $κ$ is proposed within this framework as a new business index. Japanese productivity data covering small-to-medium to large firms from 1996 to 2006 is analyzed and the power-law for both firms and workers is established. The dem…
Hideaki Aoyama, Yoshi Fujiwara, Yuichi Ikeda, Hiroshi Iyetomi, Wataru Souma
arXiv · arXiv q-fin · 2008
Labor productivity was studied at the microscopic level in terms of distributions based on individual firm financial data from Japan and the US. A power-law distribution in terms of firms and sector productivity was found in both countries' data. The labor productivities were not equal for nation and sectors, in contrast to the prevailing view in the field of economics. It was found that the low productivity of the J…
Yuichi Ikeda, Wataru Souma
arXiv · arXiv q-fin · 2017
Interbank lending and borrowing occur when financial institutions seek to settle and refinance their mutual positions over time and circumstances. This interactive process involves money creation at the aggregate level. Coordination mismatch on interbank credit may trigger systemic crises. This happened when, since summer 2007, interbank credit coordination did not longer work smoothly across financial institutions, …
Yuri Biondi, Feng Zhou
arXiv · arXiv q-fin · 2024
The dissertation consists of three essays on responsible and sustainable finance. I show that local communities should be seen as stakeholders to decisions made by corporations. In the first essay, I examine whether the imposition of fiduciary duty on municipal advisors affects bond yields and advising fees. Using a difference-in-differences analysis, I show that bond yields reduce by 9\% after the imposition of the …
Baridhi Malakar
arXiv · arXiv q-fin · 2026
Taiwan's central role in global semiconductor manufacturing exposes Taiwan-related ETFs to technology concentration, geopolitical uncertainty, and supply-chain disruptions, resulting in return distributions characterized by heavy tails, volatility clustering, and asymmetric responses to negative shocks. This paper analyzes thirty U.S.-listed ETFs with Taiwan exposure from February 2015 to February 2025 using tail-ris…
Ting-Jung Lee, Abootaleb Shirvani, Farzana Afroz, Svetlozar T. Rachev, Frank J. Fabozzi
arXiv · arXiv q-fin · 2026
Many real-world problems require sequential decisions under uncertainty: when to inject or withdraw gas from storage, how to rebalance a pension portfolio each month, what temperature profile to run through a pharmaceutical reactor chain. Dynamic programming solves small instances exactly but scales exponentially in state dimensions. Black-box reinforcement learning handles high-dimensional states but trains slowly a…
Dmitri Goloubentsev, Natalija Karpichina
arXiv · arXiv q-fin · 2013
An analytic model is presented that considers the evolution of a market of durable goods. The model suggests that after introduction goods spread always according to a Bass diffusion. However, this phase will be followed by a diffusion process for durable consumer goods governed by a variation-selection-reproduction mechanism and the growth dynamics can be described by a replicator equation. Describing the aggregate …
Joachim Kaldasch
arXiv · arXiv · 2013
Keywords: corporate finance, Wrocław University of Economics, net profit margin lub net sales profitability
Marta Tomczak, Anna Ziolkowska, Martyna Rosik
arXiv · arXiv q-fin · 2019
In order to scale transaction rates for deployment across the global web, many cryptocurrencies have deployed so-called "Layer-2" networks of private payment channels. An idealized payment network behaves like a Credit Network, a model for transactions across a network of bilateral trust relationships. Credit Networks capture many aspects of traditional currencies as well as new virtual currencies and payment mechani…
Geoffrey Ramseyer, Ashish Goel, David Mazieres
arXiv · arXiv q-fin · 2025
In competitive supply chains (SCs), pricing decisions are crucial, as they directly impact market share and profitability. Traditional SC models often assume continuous pricing for mathematical convenience, overlooking the practical reality of discrete price increments driven by currency constraints. Additionally, customer behavior, influenced by loyalty and strategic considerations, plays a significant role in purch…
Gurkirat Wadhwa, Akansh Verma, Veeraruna Kavitha, Priyank Sinha
arXiv · arXiv q-fin · 2019
Supply chains lend themselves to blockchain technology, but certain challenges remain, especially around invoice financing. For example, the further a supplier is removed from the final consumer product, the more difficult it is to get their invoices financed. Moreover, for competitive reasons, retailers and manufacturers do not want to disclose their supply chains. However, upstream suppliers need to prove that they…
Sandra Johnson, Peter Robinson, Kishore Atreya, Claudio Lisco
arXiv · arXiv q-fin · 2019
This paper surveys the evolution of industrial concentration of the Brazilian automotive market as well as its positioning in the worldmarket. Data available by OICA (International Organization of Motor Vehicle Manufacturers) were used to better understand the characteristics of the Brazilian market on the world stage. A cluster analysis algorithm (by the k-means technique) ranks Brazil with a concentration profile i…
Zionam E. L. Rolim, Rafaël R. de Oliveira, Hélio M. de Oliveira
arXiv · arXiv q-fin · 2015
Based on the approach of flow distances, the international trade flow system is studied from the perspective of multi-layer flow network. A model of multi-layer flow network is proposed for modelling and analyzing multiple types of flows in flow systems. Then, flow distances are introduced, and symmetric minimum flow distance is presented. Subsequently, we discuss the establishment of the multi-layer flow networks of…
Bin Shen, Jiang Zhang, Qiuhua Zheng
arXiv · arXiv q-fin · 2014
All the financial practitioners are working in incomplete markets full of unhedgeable risk-factors. Making the situation worse, they are only equipped with the imperfect information on the relevant processes. In addition to the market risk, fund and insurance managers have to be prepared for sudden and possibly contagious changes in the investment flows from their clients so that they can avoid the over- as well as u…
Masaaki Fujii, Akihiko Takahashi
arXiv · arXiv q-fin · 2012
About the economic growth the Keynesian theorists defend circular and cumulative processes, benefiting the rich localities and harming the poorest, without external interventions. In these processes the Verdoorn law has an important role. For Verdoorn (1949) the productivity growth rate is endogenous and depends of the output growth rate, capturing dynamic contexts, endogeneity of the factors and increasing economies…
Vitor Joao Pereira Domingues Martinho