COVID-19 has stimulated additional research interest on economic sustainability and ESG in both academia and industry. This study adopts a DEA approach to examine the efficiency of achieving ESG targets and their relationships with financial performance. Using MSCI ESG data from 2015-2019 on...

Since the mid-1990s, China’s state leadership has adopted a policy of nurturing the competitiveness of large state-owned industrial enterprises. The implications of this policy have been a matter of debate in the literature. This paper seeks to provide some useful input into the debate....

A currency attack fails on its own when the speculator suffers from her financial problem. This paper extends the existing models and argues that the monetary authority?s willingness to peg and the speculator?s cost of attack are private information. Our model thus accounts for the duration of...

The deployment of renewable energy is crucial to the achieving of global climate goals outlined in the Paris Agreement. Many countries have adopted industrial policies designed to promote the growth of new industries for manufacturing renewable energy equipment. However, such policies may...

This paper takes the special features of land seriously, and study the efficient design of its property rights against the backdrop of social security. In particular, we explain why (i) tenure insecurity and (ii) restrictions on the right to transfer, two features that are often frown upon by...