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English Abstract: The author proposes a new type of asset-backed security, called Exchange Traded Pieced Loan (ETPL), designed to address a variety of major issues for savers, lenders, borrowers, authorities and other stakeholders in China's markets for investment and credit. An ETPL's...
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performance. Secondly, the Confucianism can increase the efficiency of monitoring mechanism, but weaken the marginal contribution …
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This paper attempts to analyze corporate tax evasion in a principal-agent framework. We assume that the firm's profit is positively related to managerial effort and that the executive compensation is profit-based. In addition, we consider the situation where the manager might underreport the...
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and contract -- provides little explanatory power for China …
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owned by managers makes a positive contribution to technical efficiency. (3) The percentage of the company shares owned by …The purpose of this paper is to analyze the impact of corporate governance on technical efficiency. We use the Translog … stochastic production function to derive technical efficiency. Four empirical results are observed: (1) Technical efficiency has …
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