China's rapid economic growth since 1978 has been mainly credited to the leadership of the Communist Party of China (CPC), especially Deng Xiaoping, in the official narratives. This article examines key events before and during China's reform and opening, and concludes that the enterprising...

The present study intends to develop a framework for a new consumption theory that is pertinent to the economy in the age of artificial intelligence and robots. In the new framework, besides the monetary budget constraint, there are also temporal, spatial and physiological constraints on an...

This study investigates the impact of firm size on shareholder value by examining the cumulative abnormal returns (CAR) around foreign direct investment (FDI) announcements. We find that firm size, as measured by the logarithm of its asset, is positively correlated with CAR when CAR is negative,...