This paper examines the effect of host-location financial development (HFD) on foreign direct investment (FDI) in 166 Chinese cities between 2003 and 2009. Using pooled panel and generalized two-stage least square estimators, we find a complementary HFD-FDI nexus, and that this is particularly...

This study examines the effect of foreign investment on firms’ information quality. We use a unique setting—the Shanghai-Hong Kong Stock Connect Program in China—that provides an exogenous shock to foreign investment and allows global investors to trade on stocks that were previously...

As China is moving toward an innovation-driven economy, this paper offers new insights for both policymakers and investors to optimize the effectiveness of investment performance. This paper studies China's provincial research activities with a focus on the spillover-induced productivity and...