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1. Discuss the empirical designs in (i) Yu and Yuan (2011) and Wang (2018a), and (ii) Wang (2018b) and Wang and Duxbury (2021). Requirement: 1.

1. Discuss the empirical designs in (i) Yu and Yuan (2011) and Wang (2018a), and (ii) Wang (2018b) and Wang and Duxbury (2021).

Requirement:

1. Provide empirical designs in Yu and Yuan (2011) and Wang (2018a)

2. Provide empirical designs in Wang (2018b) and Wang and Duxbury (2021)

3. Make comparison between (i) and (ii)

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