How does labor risk affect corporate’s bond financing? Using the unique institutional feature of government regulations in China, we provide robust evidence that firms with a larger employment size have significantly better access to bond credit. This effect is more pronounced in times of...

We empirically investigate the impact of product quality information asymmetry on firm exports and the sectoral composition of multinational corporation activities. Using Chinese customs data, we find robust evidence that foreign firms perform better than domestic firms in information intensive...

We study the distributional effects of preferential tax policies for FDI using China’s corporate income tax unification reform as a natural experiment. We first present a simple model to motivate our empirical analysis. Using a differential exposure approach, we then show that eliminating...

1. Corporate political strategy (CPS) in China : an overview -- 2. What motivate the private business in CPS? -- 3. What motivates the government in dealing with CPS? -- 4. Modes of interaction : exchange vs. involvement -- 5. CPS in China : a typology -- 6. CPS in China : a living case -- 7....