This paper studies the differential impacts of the 2008 financial crisis on the financing policies and real activities of firms with flexible labor contracts and those with binding labor contracts. We find that flexible-contract firms significantly reduced their labor costs during the crisis,...

It is recognized in the literature that there is a negative relationship between fund performance and fund exit. This paper analyses the performance of 6,600 U.S. mutual funds that exited the market in the 2000 – 2014 period and nearly twice as many U.S. mutual funds that remained operational,...

Chapter1. China’s Early Choice of Modernization Path -- Chapter2. Seeking a Chinese Path (1956–1976) -- Chapter3. Legacy of the Mao Era and China’s Modernization -- Chapter4. Dialectics of the Market Economy -- Chapter5. Chinese Democracy -- Chapter6. Chinese New Model of Modernization....