The rapid growth of local SOEs in China largely depends on high leverage, thus local governments and their SOEs will face harder budget constraints when the central bank implements tight credit policies. Using a sample of listed local SOEs in the Chinese A-share market, this paper attempts to...

By employing machine learning techniques and the Word2Vec model, we quantify the micro-level implementation of Industrial Internet technology in Chinese manufacturing firms from 2010 to 2022. This provides empirical evidence for understanding how the Industrial Internet technology enhances...

The deep integration of digital technology with the real economy has reconstructed production systems. We explore the impact of digital technology on the resource allocation behavior and efficiency of manufacturing enterprises. Using a sample of Chinese A-share listed manufacturing firms over...