We examine the real effect of privatization in terms of technological innovation. To establish causality, we explore plausibly exogenous variation in privatization generated by a quasi-natural experiment – China's split share structure reform, which mandatorily converts non-tradable shares to...

We examine the real effect of partial privatization on corporate innovation. To establish causality, we explore plausibly exogenous variation in the expectation of further partial privatization generated by China’s split share structure reform, which mandatorily converts non-tradable shares...

In this paper, we examine the relationship between social media anonymity and stock price crash risk. To address concerns over endogeneity, we explore China’s regulatory change toward real name registration as a quasi-natural experiment. Using a difference-in- differences approach, we find...

We examine the relation between star analyst rankings and analysts’ forecast performance. To strengthen identification, we explore the exogenous variation in analysts’ incentives generated by the suspension of the New Fortune Star Analyst Contest in China. We find that the reduction in...

In recent years, automatic ear recognition has become a popular research. Effective feature extraction is one of the most important steps in Content-based ear image retrieval applications. In this paper, the authors proposed a new vectors construction method for ear retrieval based on Block...