We explore the significance of political connections vs. productivity for firms' domestic sales and export performance in developing countries, using the data from the listed firms in China's Shanghai and Shenzhen stock markets. We estimate firms' total factor productivity and manually build a...

We document a hump-shaped relation between corporate cash and both real and nominal interest rates in both aggregate and firm-level data. We rationalize this result in a model where firms finance investment with cash and risky debt. The risky rate rises endogenously with the risk-free rate,...

With cashless transactions gaining momentum in developing countries, understanding the impacts of payment-system development on the real economy becomes essential. In this paper, we exploit India's demonetization shock to estimate the degree of payment-system development in India and rely on a...

With the methods of qualitative analysis, induction and deduction, modes of key links in increase and decrease connection of urban and rural construction land are proposed in view of the involved three key links, namely reclamation of rural construction land, fund raising and management of...

Polygeneration system for chemical and power co-production has been regarded as one of the promising technologies for fossil fuel sustainable utilization. In this paper, a new polygeneration system with carbon capture is integrated, based on coal gas and coke oven gas inputs for methanol and...

In this paper we study Jensen’s inequality under quadratic g-expectation, i.e., the expectation generated by backward stochastic differential equations (BSDEs) with generator of quadratic growth in its component z. In particular, we define a new kind of convexity, the C-convexity, via a second...

Based on the brief description of the developmental status of social economy in Jiangsu Province, the index system including 16 indices contained in 5 subsystems is established according to the statistics from Jiangsu Statistical Yearbook-2009, the practical situation of Jiangsu Province and the...