A Bridge on Economic Issues between China and the World
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The Data Privacy Paradox of Alipay Users
Long Chen, Yadong Huang, Shumiao Ouyang, Wei Xiong, Jul 07, 2021We find that there is no relationship between the self-stated privacy concerns of a sample of Alipay users and their number of data-sharing authorizations with third-party mini-programs on Alipay. We explain this data privacy paradox by a curious finding that users with stronger privacy concerns tend to benefit more from using mini-programs, which further suggests that consumers may develop data privacy concerns as a by-product of the process of using digital applications, not because such concerns are innate.
The Cost of China’s IPO Regulations on the Functional Efficiency of its Financial System
Charles M. C. Lee, Yuanyu Qu, Tao Shen, Nov 01, 2017In sharp contrast with the market-and-disclosure based system in the US, IPOs in China are subject to strict regulatory rationing and control. We investigate the pricing implications of China’s IPO regulations for its publicly listed companies. We find that these regulations will give rise to significant market frictions with economic consequences for the prices, returns, and even investment decisions of China’s publicly listed companies.
Corporate Innovation and IPO Interventions
Lin William Cong, Sabrina T. Howell, May 20, 2020The Chinese government has occasionally suspended IPOs, exogenously creating uncertainty about access to public markets for firms already approved to list. We show that suspension-induced delay reduces corporate innovation activity both during the delay and for years after listing.
Connections and Buildings collapse in the Sichuan Earthquake
Yiming Cao, May 24, 2023This study investigates the factors contributing to building damage during the 2008 Sichuan earthquake.
China’s Rebalancing: Recent Progress, Prospects, and Policies
Rui C. Mano, Jiayi Zhang, Mar 20, 2019While China’s growth gathered momentum in 2017, rebalancing was uneven and decelerated along many dimensions reflecting the temporary factors behind the growth pickup. Going forward, rebalancing is expected to proceed as these temporary factors recede, but elevated income inequality and leverage will remain a challenge. The authorities are...
