Many public-private partnership (PPP) projects in China are facing increased fiscal expenditure responsibilities and weakened fiscal capacity, which may hinder investment in corporate innovation. Using data from Chinese prefecture-level cities and listed firms from 2014 to 2020, we find that PPP...

We study firm responses to local policies through a survey experiment, providing randomized information on the competitiveness of business tax rates and highway access in their headquarters’ municipality. Firms often misperceive local policy competitiveness, especially for tax rates....

We investigate the diffusion of frontier technologies across German firms before and during the Covid-19 crisis. Our analysis tracks the nature, timing, and pandemic-related motivations behind technology investments, using tailor-made longitudinal survey data linked to administrative...

Investors appear to regularly fail to make adequate investment decisions in the context of financial provision because of both economic and psychological irrationality. However, despite an economic urgency to make appropriate investment decisions for a secure financial future, people tend to...