By designing credit contracts with inversely related interest rates and collateral, banks can overcome the problems of adverse selection and moral hazard when there is an informational asymmetry in competitive credit markets. One salient result points out that, if borrowers’ insufficient endowments of wealth cause a binding collateral constraint, a credit rationing equilibrium arises because of collateral’s inability to achieve perfect sorting. The purpose of this paper is to examine the consequences of government loan guarantees on equilibrium credit contracts and economic welfare. More specifically, the effects of loan guarantees on interest rates, collateral, and credit rationing were studied. Our results suggest that government loan guarantees should target high-risk entrepreneurs. Loan guarantees targeting high-risk entrepreneurs reduce a pledge of collateral in credit contracts, drop social cost, and increase economic welfare. Under the circumstances that borrowers’ insufficient wealth causes a binding collateral constraint, loan guarantees targeting high-risk entrepreneurs alleviate the problem of credit rationing and improve economic welfare.

In this study, under the existence of unilateral cross-border environmental pollution in two regions, a complete information dynamic game theory is constructed to discuss the environmental policy (recycling fee and treatment subsidy) formulation of the central government by two local governments. As a result, it was found that the spillover effect will reduce the level of social welfare. At the same time, the intervention of the central government and the adoption of policies tailored to local conditions will be conducive to the improvement of social welfare.

This paper aims to examine the symmetric and asymmetric effects of third country exchange rate volatility on the trade flow between the US and EU from January 2003 through March 2021. The monthly disaggregated data of the top twelve export and import industries are the sample frame. We find that separating increased volatility from declines and introducing a nonlinear adjustment to the volatility shows a more significant outcome than symmetric analysis. Different industries carry distinctive behaviors regarding exchange rate risk, and the third country effect plays a vital role in trade. Moreover, increased CNY/USD real exchange rate volatility increases bilateral trade between the US and EU.

Past research indicates that a licensor tends to adopt the fixed fee, in order to obtain higher profit rather than secure royalty when he participates in zero production in the market. This study instead finds that the patentee’s optimum strategy may vary. In addition to the fixed-fee strategy, royalty or mixed licensing, or fixed fee plus royalty may be potential choices for the patentee as well which is depend on the market scale, incidence of market scale, and magnitude of cost-saving. The patentee may choose to only authorize a type of high market size based on self-interested motives. The technology licensing market is not sustainable.

The aim of this study is to explore the preference of corporations for sponsorship motives and the impact of sponsorship motives on sponsoring intention in the post-epidemic era of COVID-19. Taking a Taiwanese company as a case study, a total of 60 expert groups comprising 300 respondents (the management of the sampled companies) were surveyed in the post-epidemic period, with data being collected from 60 sampled companies in February–May 2022. Data were analyzed by using two different functional approaches, including fuzzy preference relations (FPR) for the first survey (study 1) and structural equation model (SEM) for the second survey (study 2). Results reveal that corporate image is the most preferential motive of sponsorship and also demonstrates the most significant and positive influence on sponsoring intention. Meanwhile, the measured factor of performing corporate social responsibility (CSR) appears the most correlated with the construct of corporate image. Based on the results, the study can fully fill the gap between sponsorship motives and sponsoring intention in sponsorship knowledge. Additionally, the conjunction of FPR and SEM can also create methodological synergies, namely, enhancing complementary effects and achieving better holistic analysis. Findings also suggest that special attention should be paid to CSR, which plays a pivotal role in affecting the decision of corporations for sponsorship motives and sponsoring intention and, in a post-epidemic era, continuing to develop CSR actions to enhance corporate image can be the best strategy while facing internal and external challenges of implementing sustainable development (SD).