A5076703776- Corporate Finance and Governance
- Financial Markets and Investment Strategies
- Auditing, Earnings Management, Governance
- Auction Theory and Applications
- Private Equity and Venture Capital
- Housing Market and Economics
- Air Quality and Health Impacts
- Fiscal Policy and Economic Growth
- Corporate Taxation and Avoidance
- Working Capital and Financial Performance
- Vehicle emissions and performance
- Law, Economics, and Judicial Systems
- Impact of AI and Big Data on Business and Society
- Local Government Finance and Decentralization
- Capital Investment and Risk Analysis
- Economic Policies and Impacts
- Environmental Impact and Sustainability
- Experimental Behavioral Economics Studies
- Market Dynamics and Volatility
- Financial Reporting and Valuation Research
- Culture, Economy, and Development Studies
Southwestern University of Finance and Economics
2021-2024
Beijing Jiaotong University
2016-2020
Renmin University of China
2015
Abstract This study explores the effect of CEO birth order on corporate innovation. Using hand‐collected data, we find that firms led by firstborn CEOs are less innovative. finding survives a number robustness checks. When more risky, non‐state‐owned or financially constrained, association between and innovation is stronger, suggesting negative impact larger when their innovative personality demanding influential. Meanwhile, have they born in cities where Confucian culture influential grow...
This paper examines the effect of fiscal decentralization on levels and efficiency corporate investment. The results indicate that as extent local government increases, level new investment by firms under their jurisdiction rises. Furthermore, has an impact aggravating over-investment rather than alleviating under-investment, leading to a situation whereby is negatively associated with at firm. Finally, over-investment, under-investment not different between state-owned enterprises...
In China, an IPO firm and its underwriter were ordered to exclude no less than 10% of highest bids in auctions alleviate concerns regarding "free rider". Using a reform that relaxes the exclusion 3%, we find underpricing decreases, indicating excluding k% impairs pricing efficiency. Mechanism tests show motivates investors provide information submit lower bids. sum, compels engage process finite depths reasoning, wherein must speculate on others' avoid being excluded from subscriptions.
The extant literature focuses mostly on the impact of corporate tax capital structure. Few studies explore this from perspective personal tax. Evidence a Chinese institutional background is especially limited. 2012 dividend reform in China directly links individual investors’ to length share holding period. Using reform, we find that firms with long (short) period experience significant decrease (increase) debt financing due decreased (increased) We also show effect structure more pronounced...
Abstract Civil construction is an important source of carbon emissions. The implementation total emission control for civil buildings means to achieve energy conservation and reduction in China. study divides into urban residential buildings, rural public northern heating. calculates predicts the emissions China’s buildings. Firstly, according statistical method IPCC, calculation model constructed, amount China from 2005 2016 calculated by using balance table. Further, based on improved grey...
This study explores the performance of auctions in China's seasoned equity offering (SEO) market, both theoretically and empirically. In these auctions, issuers must commit to a pre-announced revenue target maximum number shares available for auction. We use common value framework analyze this auction mechanism, detailing its operation, share allocation, pricing. The theoretical findings suggest that when buyers bid truthfully, seller's optimal strategy is set total quantity equal divided by...