Advances in Pacific Basin Business, Economics and Finance (APBBEF) is an annual series designed to focus on interdisciplinary research in finance, economics, and management among Pacific Rim countries. All articles published are reviewed and recommended by at least two members of the editorial board. Topics of interest include, but are not limited to, the following: 1. Policy and management on financial markets and financial institutions; 2. Options, futures, and other derivatives markets; 3. Corporate finance and investment decisions; 4. Insurance and risk management; 5. Accounting, auditing, and taxation; 6. Real esate econimics, finance and regulations; 7. Artificial intelligence and new technology in finance; 8. Monetary and foreign exchange policy; 9. Income, employment, and education; 10. Other economic policies among the Pacific Rim countries. APBBEF is indexed in ABI/INFORM, EconLit, EBSCO, ProQuest, ResearchGate, and Google Scholar. Manuscript submission: [email protected].

Advances in Pacific Basin Business, Economics and Finance (APBBEF) is an annual series designed to focus on interdisciplinary research in finance, economics, and management among Pacific Rim countries. All articles published are reviewed and recommended by at least two members of the editorial board. Topics of interest include, but are not limited to, the following: 1. Policy and management on financial markets and financial institutions; 2. Options, futures, and other derivatives markets; 3. Corporate finance and investment decisions; 4. Insurance and risk management; 5. Accounting, auditing, and taxation; 6. Marketing, supply chain management, and business policies; 7. Artificial intelligence and new technology in finance; 8. Monetary and foreign exchange policy; 9. Income, employment, and education; 10. Other economic policies among the Pacific Rim countries. APBBEF is indexed in ABI/INFORM, EconLit, EBSCO, ProQuest, ResearchGate, and Google Scholar. Manuscript submission: [email protected].

Advances in Pacific Basin Business, Economics, and Finance is an annual publication designed to focus on interdisciplinary research in finance, economics, accounting and management among Pacific Rim countries. All articles published have been reviewed and recommended by at least two members of the editorial board. Topics of interest include, but are not limited to, the following: 1. Policies and Regulations on financial markets and financial institutions; 2. Options, futures and other derivatives markets; 3. Corporate finance and investment decisions; 4. Fixed-Income securities and portfolio management; 5. Insurance and risk management; 6. Accounting, auditing and taxation; 7. Marketing, management, and business strategies; 8. Artificial intelligence and financial technology; 9. Monetary and foreign exchange policy; 10. Income, employment, and economic policies among the Pacific Rim countries

The 2017 APBBEF volume includes studies on financial regulations on financial institutions, research on financial markets, and issues on employment and income inequality. Regulations on insurance contracts and derivatives, bank capital standards and subordinated debt prices, and bank's credit allocation during the financial crises are of great concern to policy makers. On the financial markets, this volume covers stock market activities and their relationship with industrial production growth and housing prices, a further equity premium puzzle, and accounting fraud and audit fees in China. This volume also includes the employment assimilation of marriage and human capital investment inequality and the rural-urban income gap in the Asia-Pacific region. Contributors to this volume include Edward J. Kane (Boston College), J. Huston McCulloch (Ohio State University), Cheng-Few Lee (Rutgers University), Thomas C. Chiang (Drexel University), Chiung-Min Tsai (Central Bank of the Republic of China), Wei-Chiao Huang (Western Michigan University), Hwei-Lin Chuang (National Tsing Hua University), Jingjing Yang (Guangdong University of Foreign Studies), Sayyed Mahdi Ziaei (Xiamen University Malaysia), Ghulam Ali Bhatti (University of Gujrat), and Min-Teh Yu (China University of Technology).

Advances in Pacific Basin Business, Economics, and Finance is an annual publication designed to focus on interdisciplinary research in finance, economics, and management among Pacific Rim countries. All articles published are reviewed and recommended by at least two members of editorial board. Topics of interest include, but are not limited to, the following:1. Policy and management on financial markets and financial institutions 2. Options, futures and other derivatives markets 3. Corporate finance and investment decisions 4. Insurance and risk management 5. Accounting, auditing and taxation 6. Marketing, management, and business policies of the Pacific Rim countries 7. Interdisciplinary issues on supply chain, finance, and marketing 8. Monetary and foreign exchange policy 9. Income, employment and other economic policies among the Pacific Rim countries

Advances in Pacific Basin Business, Economics and Finance is an annual publication designed to focus on interdisciplinary research in finance, economics, and management among Pacific Rim countries. All articles published are reviewed and recommended by at least two members of the editorial board. Topics of interest include, but are not limited to, the following: 1. Policy and management on financial markets and financial institutions; 2. Options, futures and other derivatives markets; 3. Corporate finance and investment decisions; 4. Insurance and risk management; 5. Accounting, auditing and taxation; 6. Marketing, supply chain management, and business policies; 7. Artificial intelligence and new technology in finance; 8. Monetary and foreign exchange policy; 9. Income, employment and education; 10. Other economic policies among the Pacific Rim countries.

Advances in Pacific Basin Business, Economics, and Finance is an annual publication designed to focus on interdisciplinary research in finance, economics, accounting and management among Pacific Rim countries. All articles published have been reviewed and recommended by at least two members of the editorial board. Topics of interest include, but are not limited to, the following: Policies and Regulations on financial markets and financial institutions; Options, futures and other derivatives markets; Corporate finance and investment decisions; Fixed-Income securities and portfolio management; Insurance and risk management; Accounting, auditing and taxation; Marketing, management, and business strategies; Interdisciplinary issues on supply chain, finance, and marketing; Monetary and foreign exchange policy; Income, employment, and other economic policies among the Pacific Rim countries