Foreign IPO firms incur higher issuance costs than domestic firms due to greater information asymmetry and ex ante valuation uncertainty. Little is known about how to overcome such liability of foreignness. This study, based on foreign-listed Chinese firms, shows that pre-IPO financing...

This paper examines the effects of promotion-based tournament incentives for non-CEO executives on corporate innovation. We find that firms with greater tournament incentives, which are measured as the pay gap between the CEO and other executives, are associated with a higher level of patent...

The question of whether management control systems (MCS) adopted by start-up companies are valuable is examined. We investigate an international sample of start-ups, including their detailed MCS adoptions and financing histories. We find that higher MCS intensity, which is measured as the number...

This paper examines the early effects of dismantling the one-child (fertility) policy, which China relaxed in 2013 and eliminated prior to 2017. Birth rates, female labor force participation, and saving behavior have already changed. Between 2015 and 2017, the proportion of households with...

China's new energy vehicle (NEV) industry has grown rapidly and led the world recently, benefiting from the policy incentives with fiscal subsidies as a key component. Fiscal subsidies have been drastically cut in recent years, causing dramatic fluctuations in the industrial chain. Based on...

The iterated spatial game among the mobile population is an interesting problem in the fields of biological, social and economic sciences. Inspired by some recent works, this paper concentrates on the iterated snowdrift game among movable and myopic agents. Two different decision-making schemes,...

The evolutionary spatial game in a mobile population has attracted many researchers of biological, social and economic sciences. Considering some facts observed in the real world, this paper proposes a novel spatial evolutionary snowdrift game model with movable players. In this model, one...