A comparative study is undertaken that explores Chinese and Indian pharmaceutical industries under different patent regimes. It is found that relative to India, which had implemented process patent until 2005, China with a product patent regime since 1993 suffers from both lower drug...

Political connections have the potential to redistribute rents toward connected firms, and away from unconnected ones. In this paper, we show that this is indeed the case for Chinese firms during 2008-2015. Connected firms (as proxied by CEO–mayor college ties) have higher return on assets and...

Many employers link wages at the firm’s establishments outside of the home region to the level at headquarters. Multinationals that anchor-to-the headquarters also transmit wage changes arising from shocks to minimum wages and exchange rates in the home country/state to their foreign...