As air quality has deteriorated, corporate environmental information disclosure (EID) has received extensive attention. We examine how air quality and institutional investors affect corporate EID under China's New Environmental Protection Law (NEPL). We show that air quality's effect on EID...

The rise of city commercial banks (CCBs) in Chinese cities provides a unique opportunity to study the finance and growth nexus at the city level. Given the notorious inefficiency of China's "Big Four" state banks, policymakers attempted to correct the situation in 1995 through the creation of a...

By combining data from 1,055 local government leaders who had been required to move with data on 1 million firm land transactions from 2006 to 2016 in China, we find that firms followed their headquarter prefecture politician's move by purchasing 76% more land parcels, with 54.52% lower unit...

This paper employs a new empirical approach to estimate the impact of subsidies on growth and productivity. Our key innovation is to use local political leader geographic rotation as a source of exogenous variation. By using Chinese Industrial Census data from 1999 to 2013, we find that more...