This paper examines the effect of digital transformation on pay gap between executives and employees using a large panel listed companies in China spanning 2013–2020. Baseline results show that enterprises can largely increase gap. Mechanism tests increases income ordinary employees, is increasing faster than employees. Furthermore, employee’s skill level an important influence mechanism within Heterogeneity analysis finds this more pronounced firms with fierce industry competition,...

Using data from publicly traded firms in China, we examine the relationship between media attention and firms’ environmental protection efforts. We show that: (1) induces to exert more effort protection, (2) state-owned are responsive than non-state-owned regarding (3) when faced with local negative reports. The results robust subsample of heavily polluting industries. Overall, this study illustrates use regulate corporate behavior.

We quantify the causal effects of coronavirus disease 2019 (COVID-19) on air quality in context China. Using lockdowns different cities as exogenous shocks, our difference-in-differences estimations show that lockdown policies significantly reduced pollution by 12% average. Based first city, Wuhan, we present three underlying mechanisms driving findings: anticipatory effects, spillover and a city's level connection with Wuhan. Our findings are more pronounced whose population was willing to...

Purpose The authors emphasize the information role of earnings management and how it may be used to “mislead some stakeholders about underlying economic performance company or influence contractual outcomes that depend on reported accounting numbers.” Specifically, examine causal effect tax incentives private firms' based a corporate reform in China. Design/methodology/approach In December 2001, China implemented collection which moved income taxes from local bureau state bureau. This...

Abstract We evaluate the substitution effect between formal and informal institutions based on a natural experiment in China, i.e., targeted reserve requirement ratio cut (TRRRC) policy. TRRRC creates large persistent discontinuity affecting loan availability for small micro‐enterprises (SMEs) with sales below specific cut‐offs. Using regression design, we show that trade credit of SMEs is significantly lower firms cut‐offs, indicating banking credit. Our findings are more pronounced poor...

This study investigates whether and how government decentralization affects firms' pollution emissions. To identify causality, we introduce a triple-difference strategy based on natural experiment launched by the central of China, i.e., "Province-Managing-County" fiscal reform, which aims to eliminate prefecture as intermediate layer between province county. We show that PMC reform increases Our findings are particularly pronounced for firms located in Eastern China provinces with high-level...

This article analyses the effects of corporate governance (CG) and human capital on productivity by using 1999–2006 data from National Bureau Statistics China (NBSC). The findings this study are twofold. First, CG generate significant positive both state-owned enterprises (SOEs) non-SOEs. Second, has significantly different moderate mediate relationship between productivity. Our results robust to specifications alternative measures. provides clear policy implications suggesting that firms in...

Abstract The trading behaviour of institutional investors has attracted much attention. However, many issues related to their cannot be addressed without high‐frequency changes in ownership. Based on a measure the by using an account dataset from China, we find that ( i ) active institutions trade speculatively taking advantage individual investors; ii individuals buying high and selling low offer liquidity only average; iii foreign do not show significant patterns speculation; iv...

ABSTRACTThe intrafirm pay gap plays a significant role in firm outcomes and prior research focuses on examining its determinants based characteristics institutional factors, with limited understanding of how labor mobility, driven by improvements transportation, affects the gap. This study utilizes opening high-speed rails (HSRs) as an exogenous shock improvement transportation infrastructure finds that HSRs substantially increase within-firm gap, especially for firms located small cities....

Abstract Using a unique data set obtained from Chinese college, the present paper investigates determinants of obtaining job in Government. Despite significant amount attention paid to this issue by media, academic study on subject has been limited. We find that parents' social capital, membership Communist Party, gender and personal ability significantly affect possibility graduate public sector. Moreover, although acquiring government is difficult, no wage premium exists for graduates...