A significant portion of CEOs in publicly-listed Chinese state-owned enterprises receive zero pay from the companies for which they work. Instead, they are paid directly by their controlling shareholder who can be the Chinese government or parent firms controlled by the Chinese government. While...

We examine how monitoring reduces incentives of companies to bias reported internal rates of return in CDM projects. These estimates serve as a criterion for admission into a United Nations program that grants tradable carbon emissions permits for carbon-reducing projects in developing...

This study addresses the relation between the exit of venture capital and opportunistic behavior in financial disclosure. Specifically, I examine whether the exit of venture capital is associated with income-increasing earnings management in the IPO year and financial statement restatements...

This study addresses the relation between the exit of venture capital and opportunistic behavior in financial disclosure. Specifically, I examine whether the exit of venture capital is associated with income-increasing earnings management in the IPO year and financial statement restatements...

A Bayes net has qualitative and quantitative aspects: The qualitative aspect is its graphical structure that corresponds to correlations among the variables in the Bayes net. The quantitative aspects are the net parameters. This paper develops a hybrid criterion for learning Bayes net structures...

Abstract Often the research interest in causal inference is on the regression causal effect, which is the mean difference in the potential outcomes conditional on the covariates. In this paper, we use sufficient dimension reduction to estimate a lower dimensional linear combination of the...

We study the influence of social norms in determining the impact of early life exposure to the Great Chinese Famine of 1959-1961 on gender inequality. We model how social norms interact with adverse shocks to affect male and female survival chances and influence subsequent human capital...

We show that executives in the Chinese listed firms make politically motivated investments to build political ties. We also find that excessive investments are more pronounced in firms that can benefit more from political connections (e.g., private firms and poorly governed firms). Although such...

This study comprehensively examines export tariff liberalization’s influence on women’s marital and fertility decisions in China, using accession to the WTO as a natural experiment. Our identification relies on the shift-share design that combines industry-level variation in export tariff...

The subjectivity contained in personal information in the context of big data makes it theoretically justified in private regulations. However, the changes in social structure and a series of data paradoxes caused by new technologies such as big data make traditional private law principles...