This study examines the effect of privatization on the pollution emissions of companies by exploiting the quasi-natural experimental ownership reforms of state-owned enterprises in China. By matching corporate pollution emissions with firm-level micro data from 1998–2007, we employ a...

By investigating the general equilibrium effects with theoretical analysis and computational experiments, we find that the value share of polluting input is a sufficient statistic for the welfare incidence of a quantity-based policy in a competitive economy for short-term and commonly...

This paper builds a dynamic multisector model to investigate the importance of sectoral productivity shocks and production linkages in accounting for business cycles in China. With structural parameters and sectoral productivity shocks calibrated to 46 industrial sectors, the model simulation...

State-controlled listed companies have always dominated Chinese stock markets. As a result of the rampant scandals related to them, there have been voluminous academic efforts to explore their corporate governance, underpinned by agency costs. However, these studies have yet to examine the...

This paper studies when and under what conditions the actions undertaken by the power plants involved in China's emission trading scheme (ETS) pilot became cost-effective. Based on unique plant-level panel data and the difference-in-differences strategy, we identify that an insignificant initial...

Internal carbon pricing (ICP) has emerged as an increasingly popular tool for firms to cut emissions and combat climate change risks. We theorize the role of ICP by integrating legitimacy and stakeholder perspectives into dynamic capability theory. We argue that firms implement ICP to comply...

Quinoa is a pseudo-cereal that is rich in protein and an ideal source of antihypertensive peptides. In this study, quinoa flour was fermented using Lactobacillus paracasei CICC 20241 via a solid fermentation to produce antihypertensive peptides. The peptides were isolated and purified by...

Vacuum brazing of TA1/304 stainless steel (SS) was systematically investigated by adjusting the composition of the filler metal, brazing temperature and holding time. The addition of nickel to the filler metal avoided excessive TixCuy phases on the 304 SS substrate side and eliminated the TiFe...

There is widespread concern that an international agreement on stringent climate policies will not be reached because it would imply too high costs for fast growing economies like China. To quantify these costs we develop a general equilibrium model with fully endogenous growth. The framework...