Purpose – More and more foreign companies, including multinational companies, open business in China. The staff management under the local culture of China is one of the critical points affecting the success of foreign invested companies in China. This paper aims to illustrate the effective...

We find crackdown on shadow banking has real effects. For identification, we exploit a policy - “ New Regulations on Asset Management “ (NRAM) - that restricts the issuance of wealth management products (WMP) in China. We show firms with high WMP exposure experience a decline in investments....

Market-based pollution control mechanisms such as pollution levy and cap and trade have received increasing attention from both academics and practitioners. A good understanding of the optimal pollution price under these mechanisms is a premise for regulators to make sound pollution control...