In most OECD countries the gap between rich and poor has widened over the past decades. This paper analyzes whether and to what extent taxes and social transfers have contributed to this trend. Has the redistributive power of different social programs changed over time? The paper contributes to...

Using self-made billionaire entrepreneurs in China as a proxy for large Schumpeterian entrepreneurs, we examine the impact of institutional environment quality on the longevity of such entrepreneurs. We find no evidence that property rights institutions and contracting institutions, which are...

Price limit is a prevalent policy that intends to control significant volatility in financial markets. In the financial markets with price limit, the trades will be prevented from occurring outside the specified price bands. This paper analyses and compares the effectiveness of three price limit...

This study examines if and how does venture capital's experience, as measured by venture capital age, specialization and historical investment influence post-IPO performance and growth of firms. We find that venture capital experience has significant positive effects on long-run performance...