Competition is the catalyst of corporate innovation, which is the foundation of a country's core competitiveness. From the view of vertical industrial chain, this paper examines how downstream competition affects upstream firms' innovation output. Given innovation helps reduce the production...

Considering the reform of online voting rules in China and by using the data of firms listed on the Shenzhen Stock Exchange from 2011 to 2017, this paper aimed to explore the effect on firms’ investment efficiency from weak stakeholders' participation in governance. The results also indicate...

In this paper, we use Bayesian estimation to study subcontracting network formation and pricing decisions in the US airline industry. We find that, a major carrier is more likely to enter a route in subcontracting services if its rivals have already subcontracted while regional carriers prefer...

In 2010, Spirit airlines announced that it would start charging passengers for carry-on baggage. Using a vector of route level characteristics, we construct a matched group consisting of routes which best match those served by Spirit (treated group). We then run a diff-in-diff estimation using...

Microplastics (MPs) derived from the environment can enter the human gastrointestinal tract through the food chain. In addition, MPs adsorbed with heavy metals are synergistically toxic to humans. Though the cytotoxicity of different sizes of polystyrene (PS) has been studied, the toxicity study...

Whether and how the design and enforcement of laws exerts a profound influence on innovation activities has been the central subject of study in a wide spectrum of disciplines. This paper examines the role of the social insurance law in driving corporate innovation. We consider a simple model...

This paper investigates whether social security contributions affect corporate financing decisions. Treating the 2011 Social Insurance Law in China as a quasi-natural experiment, our difference-in-differences framework utilizes two-dimension variations: initial social security contribution rates...

This paper explores the role that a change in a family firm’s time horizon might play in professionalizing its kinship-based top management team. We introduce a model of management transfer in family firms, in which firm owners decide between hiring their children or non-family professionals,...