Journal of Finance and Economics aims to address the latest research in finance and economics and to contribute to the development of finance and economics and its applications. The JFE seeks to publish original research papers in all fields of the economics and finance. The scopes of JFE include, but not limited to, the following topic areas: Microeconomics, Macroeconomics, Econometrics, Economic History, Economic Systems, Monetary Economics, Business Economics, Economic Development, Environmental & Ecological Economics, Financial Economics, International Economics, Labor and Demographic Economics, Law and Economics, Public Economics, Agricultural & Natural Resource Economics, Urban, Rural & Regional Economics, Spatial Economics, Sociology Economics, International Finance, Financial Theories, Corporate Finance, Financial Analysis, Policy Making, and relevant subjects. Both theoretical and empirical contributions are welcome.