This paper examines how decentralization of administrative and fiscal authority affects the development of small cities by exploiting a unique reform of county-to-city upgrading (chexiansheshi) in China. Based on a comprehensive county-level dataset and difference-in-difference approach, I...

Using the 2014 to 2019 Forbes China Celebrity Lists, this study empirically examined the relationship between celebrity shareholders and corporate risk. The findings suggest that celebrity shareholders increased corporate risk. And the main reason is that the capital structure of the enterprise...