Using a large firm-level panel dataset from the Chinese National Bureau of Statistics, we examine the effect of financial distortions on FDI inflows in China's labor-intensive industries. Following Whited and Wu (2006), we estimate the investment Euler equation and construct a financing...

Do labor regulations influence the reaction of stock markets and firm profitability to cross-border acquisitions? We discover that acquiring firms enjoy smaller abnormal stock returns and profits when targets are in countries with stronger labor protection regulations, i.e., in countries where...

This paper tries to quantify the financing needs in the Belt and Road countries and industries by using firm-level data from 2009 to 2014. By examining financial constraints of firms in the Belt and Road countries, this study constructs a Financing Needs Index for Belt and Road countries and...