Youth Program of the National Natural Sciences Foundation of China (NSFC) “Study on Underwriters’ Behaviors in the Full Life-Cycle of Corporate Bonds” (Grant No. 71802085);Youth Program of the National Humanities and Social Sciences Foundation “Study on the Promotion Incentives of SOE Executives and the Concealment of Corporate Bad News: Theoretical and Empirical Analysis” (Grant No. 18YJC630211);Youth Program of the Humanities and Social Sciences Research Foundation of the Ministry of Education “Study on the Economic Consequences of Corporate Investment and Financing Maturity Mismatch: Analysis Based on a Corporate Risk Perspective” (Grant No. 19YJC630232)
In the context of China’s proactive implementation of the Belt and Road Initiative(BRI),unraveling the BRI’s effect on corporate behavior is of vital importance to China’s policymaking on overseas investment.With t...
part of the research results of the "middle income trap" project conducted by the CASS and the Asian Development Bank Institute(ADBI).Project leader:Cai Fang
A distortion is a departure from the allocation of economic resources from the state in which each agent maximizes his/her own welfare. Distortions can be divided into endogenous distortion(i.e. market imperfections) ...
This paper takes stock of theoretical economic analyses of overcapacity,reveals the factors that induce actual capacity to deviate from market equilibrium, examines market-based mechanisms to resolve overcapacity, and...
The globalization has experienced three rounds of pushing, or three editions of world system - respectively the globalization of production and trade, government- business mechanism and capital operation. The end of t...
the financial assistance of the Young Social Sciences Talent Sponsorship Program of Beijing Social Sciences Federation(Grant No.QNRC201620);National Natural Sciences Foundation Program(Grant No.71573038);Youth Program of National Natural Sciences Foundation(Grant No.71403278)
Tax sharing embodies central-local government fiscal relations and tax rates reflect government-market relations.Research on the interactions between tax sharing and tax rates helps uncover the effects of central-loca...
sponsored by National Natural Sciences Foundation Programs (Grant No.71172222) and (Grant No.71572194);the Overseas and Hong Kong and Macao Scholars Collaborative Research Program (Grant No.71428008) of the National Natural Sciences Foundation
Information monopoly of bureaucrats helps them maximize discretionary budget. Public disclosure of budget can alleviate information asymmetry between government and the public and empower public supervision on governm...
sponsored by the Key Project of National Social Sciences Foundation “Study on the Interplay Between Industrial Upgrade and the Pathway of Environmental Regulation” (Grant No. 14AJY015);the Key Project of National Soft Science Research Program “Study on the Disruptive Technology Innovation Mechanism and Its Impact on Industrial Development” (Grant No. 2013GXS6B213)
It is the view of this paper that both market and non-market mechanisms can stimulate corporate innovation and have their respective areas of application. As a major developing country, China should create a national ...
supported by National Natural Science Foundation of China(Grant No.71403277);National Social Science Foundation of China(Grant No.12&ZD089)
This study seeks to determine an effective boundary between government and market in light of modern financial theories.According to the findings of this paper,the relationship between government and market must be co...
Based on nationally representative panel data, this paper examines the content and evolution of China's cadre responsibility system at county-township and township- village levels. Our findings suggest that, with abo...
The subprime mortgage crunch that had simmered throughout 2007 erupted into a global financial crisis in mid-September 2008. To deal with the globally raging crisis, governments worldwide unveiled massive bailout plan...