This paper proposes a simple economic intuition that the effectiveness of tournaments is closely related to the number of individuals participating in the competition. Specifically, tournaments with too few (too many) contestants are not conducive to stimulating efforts due to windfalls (sure...

Purpose The purpose of this paper is to comprehensively examine the influence of formal and informal institutional differences on enterprise investment margin, mode and result. Design/methodology/approach This paper is based on 2,440 micro samples of large-scale outbound investment from 609...

This paper tests the contributions of the size of state-owned enterprises as a determinant of China's economic growth. The methodology is discussed in papers by Levine and Renelt (1992) and Sala-i-Martin (1997). We estimate regressions with growth of output and total factor productivity as the...

Among the studies on the productivity effect of migration, the role of the substitutability of human capital between migrant workers and local workers has not received much discussion. The elasticity of substitution is important for rural-urban migration in China, because there is substantial...