There is a growing interest in understanding the economic consequences of religious belief. Using unique dataset which surveys thousands of villages, this paper investigates the effect of religious beliefs on rural elderlies’ self-employment in China. The empirical results show that,...

This paper constructs a simple model to reveal the trade-off between decentralized and centralized governance structure of large state-owned enterprises (SOEs) in China. Our model shows that the delegation of decision making authority to SOE managers would enhance their initiative in terms of...

Developing countries have devised various industrialization strategies since the first wave of globalization in the 19th century. Now that the whole world trade system has entered the era of global supply chains, the second wave of globalization is beginning. This second wave, supported by...

Using the firm level data on companies listed on China’s A-shares market from 2006 to 2017, this paper applies a difference-in-differences (DID) empirical method to test whether the exogenous state policy in China used for identifying firms as either “high-tech” or “frontier...

The dichotomy in the economics of transition literature with regard to the reform speed (Gradualist vs Radical Approach) and reform strategy (incremental reform vs structural reform) fails to capture the essence of the transitional process of a transitional economy that was ever under the...

The study aims to examine the determinants of social loafing by using social exchange theory and expectation theory. Specifically, we examine how self-efficacy and entrepreneurial bricolage moderate the relationship between perceived organizational support and employee social loafing. In...

Acquirer advisors now often arrange syndicated loans financing merger and acquisition deals they advise on. This paper shows that such an advisor-lender dual role facilitates valuable big-ticket deals. There is a positive announcement effect for the acquirer which also shows no systematic...