This article traces and analyzes the longitudinal changes of the operative structure, rules and practices of the Party disciplinary institution not for the purpose of appraising its performance in corruption control but to demonstrate how the Party regulates its own enforcement agency through...

This paper examines the role of political affiliation in the extension of trade credit by Chinese firms. Using a data-set of over 70,000 firms over the period 2000-2007, we find that, because they benefit from easier access to short-term external funding, politically affiliated firms can extend...

This paper examines the role of political affiliation in the extension of trade credit by Chinese firms. Using a dataset of more than 70,000 firms over the period 2000-2007, we find that, because they benefit from easier access to short-term external funding, politically affiliated firms can...

Despite a vast accumulation of private capital, China is not embracing capitalism. Deceptively familiar capitalist features disguise the profoundly unfamiliar foundations of 'market socialism with Chinese characteristics.' The Chinese Communist Party (CCP), by controlling the career advancement...

The conventional wisdom up until the crisis was that efficient financial systems required privately owned banks and financial institutions. The events since 2007 have shown that financial systems such as China's, where banks are government owned but are also publicly listed can have a...

We provide a comprehensive review of China's financial system, and explore directions of future development. First, the financial system has been dominated by a large banking sector. In recent years banks have made considerable progress in reducing the amount of non-performing loans and...

This paper studied the governance mechanism of the economic transaction with trade credit: First, we build a theoretical model that bargaining power reduces trade credit ex ante, and expand ex post enforcement power. The ex post enforcement power and cash in the buyer's hand expand the trade...

The spectacular economic growth in China in the past four decades has inspired a large strand of research to understand China's unconventional growth path. This paper focuses on the recent development of China's institutions, financial markets, innovations and government-business relations in...

Based on a systematic review and summarization of China’s 30 years of financial reform and development, this paper comprehensively analyzes the past, present and future development of China’s financial system and also presents the mechanism for China’s financial development from the view...

This paper investigates characteristics of patents involved in infringement lawsuits in weak intellectual property rights (IPR) regimes. Weak IPR regimes usually feature weak patent enforcement, such as relatively low level of compensation to infringement loss or damage awards being capped by an...