By allowing large classes of movable assets to be used as collateral, the Property Law reform transformed the secured transactions in China. Difference-in-differences test show firms operating with ex-ante more movable assets expand access to bank credit and prolong debt maturity. However, the...

The use of collateral is one of the defining characteristics of loan contracts. This paper investigates if relationship lending and market concentration permit the extraction of informational rents through collateral. We apply equity IPOs as informational shocks that erode rent seeking...

Purpose This paper aims to investigate whether family CEOs benefit investment efficiency under uncertainty with Chinese family firms and to test the moderating effect of ownership structure, including family ownership, the separation of family control from family ownership and the multiple large...

Though, as a renewable energy resource, alcohol fuel has many advantages in China, it is difficult for diesel engines to operate on alcohol due to its low cetane number and high latent heat of vaporization. This paper proposes an approach to its ignition problem by combining internal exhaust gas...

With life cycle assessment (LCA) methodology, a life cycle model of coal-based dimethyl ether (CBDME) as a vehicle fuel is established for China. Its life cycle from well to wheel are divided into three phases. They are feedstock extraction, fuel production and fuel consumption in vehicle. The...

Because the energy crisis and environmental pollution are significant concern, a next-generation combustion mode for internal combustion engines that can simultaneously reduce exhaust emissions and substantially improve thermal efficiency has attracted increasing attention. In the last two...