We study STI policy of Russia and China in this paper with a three-dimension framework for policy objectives, policy instruments and policy implementation. Analyzing a database of 418 STI policies issued between 1990 and 2013 in the two countries, 25 policy variables have been scrutinized for...

We propose a method of retrospective counterfactual imputation in panel data settings with later-treated and always-treated units, but no never-treated units. We use the observed outcomes to impute the counterfactual outcomes of the later-treated using a matrix completion estimator. We propose a...

This paper examines the equity loan supply for short selling. Using detailed stock lending data, we show that active equity funds, on average, are informed lenders. The stocks they lend outperform those that they do not. The stocks they recall and sell perform worse in the future than those that...