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Cash in the Darkness

Haohan Ren, Kemin Wang, Bohui Zhang, Fan Zhang, Jan 12, 2024

Relying on a large dataset on cash withdrawals of over 165 million bank cards from China, we find a higher ratio of cash withdrawals late at night is associated with criminal activity.

Has COVID-19 permanently changed the nature of economic shocks on the Chinese economy?

Kaiji Chen, Patrick Higgins, Tao Zha, Apr 10, 2024

In latest study, Kaiji Chen and his colleagues at Emory University investigated the impact of COVID-19 on the Chinese economy. Through the construction of a GDP expenditure dataset and the application of SVAR modeling, they found that the constrained consumption shock during the pandemic significantly affected China's economy and may potentially alter its economic shock nature permanently.

Environmentally Inclined Politicians and Local Environmental Performance:Evidence from Publicly Listed Firms in China

Hanming Fang, Honglin Ren, Danwen Song, Nianhang Xu, May 31, 2023

We investigate whether and how environmentally inclined politicians (EIPs), i.e., politicians with prior environment-related work experience, affect local environmental performance in China.

Employee Output Response to Stock Market Wealth Shocks

Teng Li, Wenlan Qian, Wei A. Xiong, Xin Zou, Sep 27, 2023

Exploiting individual-level data linking worker performance and stock investment, we show that a 10% increase in stock investment returns is associated with a decrease in the same investor’s work output by 3.8% in the following month.

Financial Reporting and Disclosure Practices in China

Hai Lu, Jee-Eun Shin, Mingyue Zhang, Jul 04, 2024

This article discussing that Chinese firms tend to emphasize the stability of financial performance in their reports. In contrast to U.S. firms, their financial disclosures are significantly swayed by non-shareholder stakeholders and do not leverage voluntary disclosures to mitigate capital costs.