This paper explores rent-seeking behavior in a heavily regulated equity-financing market. Using manually-collected information about ownership changes from China's IPO application filings for the Growth Enterprise Market (GEM), we find that over a third of firms receive late-stage private equity...

A medium - for example, points or money - is a token people receive as the immediate reward of their effort.It has no value in and of itself, but it can be traded for a desired outcome. Experiments demonstrate that, when people are faced with options entailing different outcomes, the presence of...

How does the change in income tax affect sales performance? Our paper explores the link between economic policy and salesforce management at the transactional level, using data from a large fashion retailer in China. The analysis shows that the implementation of a nationwide personal income tax...

Decision-makers are sometimes depicted as impulsive and overly influenced by hot,affective factors. The present research suggests that decision-makers may be too cold and overly focus on rationalistic attributes, such as economic values, quantitative specifications,and functions. In support of...