We investigate whether banks in more heavily regulated markets are more likely to suffer from capital shortfall and thus contribute more to systemic (in)stability. Our cross-country empirical findings show that bank activity restriction, initial capital stringency and prompt corrective action...

This book aims to investigate the way in which personality rights are protected in China through a comparative and cross-cultural lens drawing on perspectives from Europe and elsewhere in the world. Currently, the question whether or not to incorporate a special law on personal rights – the...

This article presents an empirical study that employs statistical data analysis and contextual examination to investigate the prevalence of specific performance (SP) in Chinese courts as a contractual remedy in civil and commercial disputes. The findings of this study reveal that Chinese courts...

China has a bifurcated land system, with clear distinctions between urban and rural land use rights. While state-owned land in urban areas has become commercially transferable, rural land cannot be transferred. This discrepancy has been exploited by property developers, investors, village heads...

Using U.S.-listed Chinese firms as the setting, this paper studies a novel channel through which investors can acquire information about firms' financial reporting quality, that is, the reports published voluntarily by short sellers. I find that short sellers tend to target firms that have...

This article explores whether the legal landscape will be fundamentally changed in view of the emergence of smart contracts in China. Beyond the phenomenon of bitcoin supported by blockchain technology, we examine the development of smart contracts on blockchain with a close scrutiny of their...

With the implementation of the vehicle quota system (VQS), the average prices of new registered vehicles in Beijing and Shanghai both increased. Whether and why the policy would change consumers' price sensitivity remain unknown although important and interesting. This study focuses on two...

To ensure the imported vaccines’ high quality, many countries such as Canada, the UK and China require the imported vaccine provider to cooperate with an exclusive domestic agent for vaccine sales. In this paper, we examine the role of promised-deliver-time (PDT) for the transport of vaccines...

Self-executing smart contract is believed to revolutionize global procurement by eliminating payment delay and enhancing transaction efficiency. This paper studies the value of smart contract in global procurement, and how the tariff regulations (specific tariff and ad valorem tariff) would...

We examine the role of acquirers’ familiarity with targets’ significant downside risks in M&A. We introduce a measure of a firm’s familiarity with another firm’s business downsides using similarity of their risk factor descriptions. We first show that this measure is distinct from...