It is hard to evaluate a firm's R&D performance in a timely manner due to the uncertainties involved in the R&D process. By examining the U.S. listed firms with heavy patenting during 1987-1998, I find that the effects of a firm's insider trading patterns are significant in explaining the...

Purpose – The effects of social learning and network externalities in the diffusion of a new product imply that there should be local spillovers from existing owners to new adopters in a closely-related community. Using the data from a unique household survey in rural China, this paper...

Monitoring by institutional investors can act as an important mechanism to promote firm innovation. By investigating Chinese listed firms' patenting between 2002 and 2011, we find that the presence of institutional investors enhances firm innovation. Consistent with the monitoring view, we...

Monitoring by institutional investors can act as an important mechanism to promote firm innovation. By investigating Chinese listed firms' patenting between 2002 and 2011, we find that the presence of institutional investors enhances firm innovation. Consistent with the monitoring view, we...

It is well acknowledged that the entrepreneurship is important to economic development. In this paper, we suggest a gender-related determinant of entrepreneurship, local sex imbalance. Using a 2009 rural finance survey, we examine how this imbalance influences the venturing at the household...

Cross-sectional analysis is problematic when examining the determinants of migration as well as its impacts. Panel data may potentially solve the problem by tracking households over different time periods. Using panel data from household surveys in six provinces in rural China over 1986 to 1999,...

Purpose – The effects of social learning and network externalities in the diffusion of a new product imply that there should be local spillovers from existing owners to new adopters in a closely related community. Using the data from a unique household survey in rural China, this paper aims to...

Using the consumption of color television sets in rural China, this paper documents the existence of a type of network effect – free riding across neighbors, which reduces the propensity of non-owners to purchase. I construct a model of timing the purchase of a durable good in the presence of...

We analyze the impacts of power supply, tap water, and other public services on the demand for color TVs, washing machines, and refrigerators in rural China using data from a survey of 20,000 rural households in 1999 designed for this research. We find that the provision of public goods and the...