We study the impacts of regime changes and related rule implementations on IPOs’ initial return for China’s entrepreneurial boards (ChiNext and STAR). We propose that an initial return contains the issuer’s fair value and an investors’ overreaction and examine their magnitudes and...

Primary healthcare institutions (PHIs) in China have experienced a sizable decline in medical services in recent years. Despite the large regional disparities in China, there is a lack of evidence on the differential patterns of medical services offered by PHIs, especially from a spatial...