In this study, we compare the adjustments of credit ratings by an investor-paid credit rating agency (CRA), represented by Egan-Jones Ratings Company, and an issuer-paid CRA, represented by Moody’s Investors Service, vis-à-vis conflict of interest and reputation. A novel distribution dynamics...

The last quarter of the 20th century was a period of sustained economic growth across many countries. Countries' institutional arrangements have been commonly employed as factors in the convergence studies of economic growth and income levels. However, the issue of whether institutions...

Empirical studies suggest that globalization (FDI and international trade) has been greatly affected by the COVID-19 and related anti-pandemic measures imposed by governments worldwide. This paper investigates the impact of globalization on intra-provincial income inequality in China and the...

This paper proposes a game theory model in which a foreign multinational corporation (MNC) and a domestic firm compete in the domestic market. In this model the domestic patent office could influence the firms’ profit curves by controlling the pendency and grant probability of the MNC’s...

This paper examines US patent citation data and analyzes how different firms in China affect knowledge spillovers. Patents granted by the US patent office to inventors located in China are collected along with their citation counts. Two kinds of patent citations, namely, citations of previous...