This paper introduces the China Energy & Environmental Policy Analysis (CEEPA) system. The core of CEEPA is a recursive dynamic computable general equilibrium model, in which the interactions among different agents in the macroeconomic system of China are described. The specific characteristics...

In this study of China’s listed companies, we apply a 2SLS fixed effects model in a simultaneous equation system to study the interaction among firm value (Tobin’s Q), managerial ownership, and the largest shareholder’s ownership, controlling for two sources of endogeneity: unobserved firm...