Despite the booming development of financial technology (fintech) in China, little academic literature has explored effects fintech on poverty. This paper explores poverty alleviation provinces China. The sample includes data for 31 period 2011 to 2020. To reflect technological innovation finance, we first use web crawler and word frequency analysis collect variables, then construct a index each province. Due heterogeneity among various provincial regions, further propose novel sparse...

Abstract This paper presents new evidence on the economic benefits arising from common institutional ownership. We find a negative and significant effect of ownership stock price crash risk. is robust to battery robustness checks causal according some identification tests, including difference‐in‐differences analyses financial institution mergers. that attributable monitoring role owners—a enabled by owners' lower information processing cost greater incentives owing governance externalities....

We show that peer effects influence corporate investment decisions. Using a sample of China’s listed firms from 1999 to 2012, we one standard deviation increase in firms’ investments is associated with 4% firm i’s investments. further identify the mechanisms, conditions and economic consequences find are more pronounced when have information advantages disclosure quality higher, or if they face fierce competition. When industry followers, young financial constraints, highly sensitive their...

Previous studies have shown that product market competition has an important effect on corporate strategies and internal governance mechanisms. Using a sample of China's listed firms from 2004 to 2009, we explore the relationship between normal related party transactions find significant positive relationship. In addition, investigate substitutive cash flow rights owned by ultimate controlling shareholders extent transactions. particular, our results suggest shareholders' is strongest in...

We study how cognitive constraints relate to each distinct step of the planning and execution process for retirement, that is, individuals' propensity plan, savings goals set, economic outcomes (wealth accumulation portfolio choice). find different play roles: Higher advanced financial literacy (and quantitative reasoning ability) predicts a greater while higher basic verbal cognition predict setting goals. Furthermore, our evidence shows consequences retirement depend on earlier set In...

This study aims to preliminarily investigate the potential technical advantages of prone split-leg position for treating upper urinary tract stones and evaluate its efficacy using computed tomography (CT). A retrospective analysis was conducted on clinical data 16 female patients who underwent retrograde intrarenal surgery (fURS) in at our hospital between July September 2024. All were treated flexible ureteroscopes received CT scans before after operation assess surgical outcomes. surgeries...

Based on a novel dataset constructed with the supplier-consumer paired sample, this paper uses difference-in-differences approach to evaluate impact of national high-tech zones firm performance. We find that supplier's sales growth rate increased by about 61.35% after approval zone in place where its largest customer was located. This spillover effect transmitted from consumer supplier could be due either knowledge or demand expansion. Further study finds innovation is stronger when company...

This paper examines the effects of board affiliation on corporate pay gap. Using a sample Chinese listed firms from 2005 to 2011, we find that boards with greater presence directors appointed by block shareholders have lower gaps. Furthermore, governance and without are distinguished. The empirical results show is negatively related gap, while positively Overall, shed light how affect their companies' gaps through affiliation.

This paper presents new evidence on the economic benefits arising from common institutional ownership. We find a negative and significant effect of ownership stock price crash risk. is robust to battery robustness checks causal according some identification tests, including difference-in-differences (DiD) analyses financial institution mergers. that attributable monitoring role owners—a enabled by owners' lower information processing cost greater incentives owing governance externalities....

This paper examines how Chinese anti-corruption reform affects audit pricing. We show that auditors react to the increased risk resulting from and charge higher fees politically connected firms. find treatment effect is stronger for firms with poor financial statement quality, operating uncertainty, located in provinces experiencing larger of reform, audited by greater bargaining powers. Finally, results suggest earnings management probability issuing an unqualified opinion are reduced after...

This study identifies a new economic benefit of common institutional ownership, which refers to the increasingly contentious phenomenon U.S. firms sharing stockholders with their industry competitors. We find significantly negative relation between ownership and insider trading profitability. The disciplinary effect on opportunistic is particularly evident when information effects are greater, owners more likely from positive governance externalities, in subset trades made by insiders. Using...

This paper examines the premium due to auditor industry specialisation in China’s audit market. Using a sample of listed firms from 2001 2011, we find that specialist auditors earn significant premiums at province level. We also competitive pressure has negative effect on premium. Furthermore, document pass lower cost savings economies scale clients when facing greater pressure. The results remain robust after controlling for possible endogeneity issues and using different samples...