Empirical research has called for intensive use of disaggregated data. One of the most heavily used data set in studying the corporate behavior and performance in China is Chinese Industrial Enterprises Database. As we will show, this data set suffers from data matching problems as well as...

By introducing asymmetric information of investors' abilities and finitely repeated games into the classic hold-up model, this paper revisits the relationship between property rights and reputation under incomplete contracting environment and obtains some different insights. First, even facing...

Examining a unique panel dataset of 22,076 firm-year observations for China's coalmining industry, we find that a firm's leverage significantly determines its coalmining fatality. We show, specifically, that leverage reduces a firm's safety investment and, hence, causes more fatalities. Our...

We use text mining tools to extract a measure of economic policy uncertainty perceived by individual Chinese listed firms from their annual report texts. We present this measure with some visualization techniques and it varies over time and across sectors in accordance with our intuitions. The...

Purpose The stability maintenance system has played an essential role in maintaining social stability although it also has brought about social problems worthy of attention. Admittedly compensation-based stability maintenance policy can address the appeals of citizens whose rights are infringed...

Purpose The stability maintenance system has played an essential role in maintaining social stability although it also has brought about social problems worthy of attention. Admittedly compensation-based stability maintenance policy can address the appeals of citizens whose rights are infringed...