A5074798692- Market Dynamics and Volatility
- Energy, Environment, Economic Growth
- Monetary Policy and Economic Impact
- Corporate Finance and Governance
- Law, Economics, and Judicial Systems
- Auditing, Earnings Management, Governance
- Economic Growth and Development
- Complex Systems and Time Series Analysis
Central University of Finance and Economics
2023
Abstract China has many state‐owned enterprises (SOEs) and they have accounted for a large proportion of China's GDP over the last four decades. rapid growth contradicts literature that focuses on inefficiency SOEs. This study shows that, in periods economic policy uncertainty (EPU), SOEs performed special function as “macroeconomic stabilizers.” Using Chinese listed firm data from 2008 to 2019, we investigate five aspects SOEs' unique functions macroeconomic stabilizers: employment,...
We use text mining tools to extract a measure of economic policy uncertainty perceived by individual Chinese listed firms from their annual report texts. present this with some visualization techniques and it varies over time across sectors in accordance our intuitions. The dispersion the rises significantly when aggregate goes high. variation comes mainly sector levels. Firms uncertainties decrease corporate investment expenditures increase holding financial assets. It is suggested that...
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