We employ a new classification of ownership identity to analyze the impact of ownership structure on enterprise performance in China. Using both fixed effects model and Generalized Methods of Moments (GMM), this study finds that marketized state-owned enterprises outperform firms controlled by...

Does decentralization exacerbate Chinese corruption? This study uses unique quasi-experiments of “province-managing-county” and “county-power-expansion” reforms in China from 2003 to 2015 to investigate this question. Improving the measures of corruption, decentralization, and...

Does decentralization exacerbate Chinese corruption? This study uses unique quasi-experiments of “province-managing-county” and “county-power-expansion” reforms in China from 2003 to 2015 to investigate this question. Improving the measures of corruption, decentralization, and...

The sweeping change in political economy associated with the rapid growth of the private sector in China is rarely studied empirically in the economics literature. Using four cross-sectional surveys of private firms between 1995 and 2010, we examine the dynamics of rent creation from Party...

We investigate ownership effects on capital and adjustments speed to the target capital ratio in China from 2000 to 2012 and find that state-owned banks hold higher levels of capital than banks of other ownership types. Foreign banks are more highly capitalized than local non-state banks but...

Better developed legal and political institutions result in greater availability of reliable firm-specific information. When stock prices reflect more firm-specific information there will be less stock price synchronicity. This paper traces the experience of China, an economy undergoing dramatic...

Anti-Western conspiracies are frequently used by Governments to strengthen their power. We investigate the impact of conspiracy thinking on expectations of collusion among individuals in Russia and China. For this purpose, we conduct a novel laboratory experiment to measure expectations of...