This research expands the cash-cash flow sensitivity model and examines the effect and mechanism of SCF on alleviating the financial constraints of 740 firms listed in the SME Boards and Growth Enterprise Market (GEM) of Shanghai and Shenzhen Stock Exchanges from 2010 to 2017. The results show...

This paper attemps to explore the interplay between trade and secondary educational attainment by exploiting Chinese data of from 31 provinces from 1998 to 2015. The findings of this paper suggest that export expansion has significantly negative consequences for the high school enrollment rate,...

This paper attemps to explore the interplay between trade and secondary educational attainment by exploiting Chinese data of from 31 provinces from 1998 to 2015. The findings of this paper suggest that export expansion has significantly negative consequences for the high school enrollment rate,...

Export-led growth strategy has been demonstrated to be a viable path for economic development as evidenced by the East Asian “miracle.” But what is the influence of such viability on educational attainment? This paper attempts to answer this critical question by exploiting Chinese data of...

With the political development and deepening trade liberation, many emerging market countries have been deeply involved in global value chains (GVCs). Emerging market multinational enterprises (EM MNEs) and their cross-border mergers and acquisitions (M&As) also play an increasingly important...

GVC will affect stock returns and there is a stock return co-movement along GVCs. Meanwhile, the stock return co-movement is formed through two channels. The first channel is the correlation among fundamentals of firms, which will directly affect their stock return. The second is the common risk...

The topic of this paper is about the governance of GVCs in management literature, which is also referred as relational GVCs in economic literature. To be specific, this paper aims to answer two questions. Firstly, how vertical integration (vertical M&A in finance management literature) performs...