This paper studies the role of confidence in the transmission of uncertainty shocks during U.S. recessions. I use smooth-transition VAR to examine the regime-dependent effect of uncertainty shocks, and a counterfactual decomposition to isolate the role of confidence when the economy is in...

This paper studies the macroeconomic effects of uncertainty shocks with an emphasis on the interaction between elevated uncertainty and credit market conditions when the economy is in different regimes (recessions vs. non-recessions). We use a smooth-transition factor-augmented vector...

US ready-to-eat breakfast cereals entered the Chinese market in the mid-1990s. In the past years, this all-American food has been generating business losses. Such underperformance calls for prompt strategic modification by the cereal investors. This study focuses on foreign entry strategy and...

This paper compares the value of political ties and market credibility in China by examining the consequence of corporate scandals. We categorize Chinese corporate scandals by whether the scandal is primarily associated with the destruction of i) the firm’s political networks (political...

This article introduces the status quo of implementation of village merging in Zhucheng City of Shandong Province. Owing to thoroughness and originality, the village merging of Zhucheng City has created "Zhucheng Model" and disseminated "Zhucheng experience". By comparing part of annual values...

This study examines how public and private firms responded to the 2008 tax rate reduction in China from 33 percent to 25 percent. We find that private firms report significantly more income-decreasing accruals than public firms in 2007, prior to the tax rate reduction. These negative accruals...

This paper compares the value of political ties and market credibility in China by examining the consequence of corporate scandals. We categorize Chinese corporate scandals by whether the scandal is primarily associated with the destruction of i) the firm's political networks (political...

Finance is crucial for the low-carbon energy transition. This research takes the solar PV technology as an example to explore whether having state-owned financial institutions, such as national development banks (NDBs), offers advantages in a country for mobilizing finance. By focusing on three...

Ensuring adequate food for people is one of the most fundamental responsibilities of national governments. Historically, governments have invested considerable resources in increasing production of staple foodstuffs to meet national food demands with a focus on the rural farmer. However, the way...