This paper aims to examine the role of the subway network, a typical transportation way within the urban area, on innovation and knowledge diffusion. Based on the difference-in-difference strategy and spatial analysis, we use 1332 newly opened stations in China from 2000 to 2013 as a...

By using the listed companies data, this paper investigates the impact of the ongoing mixed-ownership reform on the TFP of SOEs in China. Comparing with other SOEs, the TFP of pilot enterprises has been significantly improved through mixed-ownership reform. Further testing the changes in equity,...

This paper studies the optimal control problems of continuous-benefit tontine funds and multi-cohort tontine models. Firstly, we take a limit on the number of members in the tontine pool and obtain a continuous form of benefits by Borel's law of large numbers. This continuous framework provides...