In an effort to aggressively combat climate change, China implemented a low-carbon city pilot policy (LCCP) in 2010. This study analyzes the impact LCCP, which is a specific environmental regulation on firms' profitability and innovation performance. The study argues that LCCP has an impact on...

This study uses data from a survey of micro, small, and medium enterprises in India to document the impact of COVID-19 containment lockdowns on firms, their responses, and adaptation strategies. We find that profits and sales of the majority of firms declined substantially. Temporary closures,...