The recent institutional reforms in China provide new settings to explore various important topics in finance. Three major reforms are namely the Anti-Corruption Campaign, Mass Entrepreneurship and Innovation and the Belt and Road initiative (also known as the land and maritime Silk Road...

This study aims to investigate the significance of adequately accounting for heterogeneity in banking efficiency. It compares different specifications of stochastic cost frontier models which attempt to account for bank heterogeneity in various ways. This study compares the estimated parameters...