evidence that incentive schemes affect real investment and sheds new light on challenges faced by economic reforms in China …

We advance a novel hypothesis that China's recent anti-corruption campaign may have contributed to the recent … resurgence of the state-owned enterprises (SOEs) in China as an unintended consequence. We explore the nexus between the anti-corruption … pervasive rent-seeking and corruption. We use a unique data set of land parcel transactions merged with firm-level registration …

The majority of state-owned enterprises (SOEs) in China were privatized through ownership reforms over the last two … decades. Using a comprehensive dataset of all medium and large enterprises in China between 1998 and 2013, we show that …

information content of credit spreads in China. Using Merton's model of default, we construct credit measures of publicly listed … 2014, do credit spreads in China become informative. Compared with the findings in the US credit market, the magnitude of … state-owned enterprises (SOEs) in China results in a market segmentation between SOE and non-SOE issuers that is harmful to …

allocation. We develop a two-stage estimation approach and apply it to China's loan-level data that covers all sectors in the …

This paper studies dynamic labor demand by private and public manufacturing plants in China. It contributes along two …

China's high corporate savings rate is commonly claimed to be a key driver for the country's large current account …