Ch1 Development Strategy, Restructuring and Upgrading, Innovation-driven Development and Transformation of the Development Mode of Service Industry (Zhibiao Liu) -- Ch2 The Distribution of Space Economy: From “Massive Economic” to Modern Industrial Clusters (Shouhua Wei,Xinlei Lv, Haiyan...

This paper analyses the mechanism of how development of producer services improves the productivity of manufacturing through mathematical model. We argue that as an advanced input of manufacturing, producer services not only improve their own efficiency, but also reduce the unit producer cost of...

We examine the effect of agency cost on the relation between top executives' overconfidence and investment-cash flow sensitivity using the data from Chinese listed companies. We find that on average top executives' overconfidence leads to increased investment-cash flow sensitivity. However, this...