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The Effect of the China Connect

Chang Ma, John Rogers, Sili Zhou, Aug 07, 2024

This article discusses that The China Connect not only introduced new learning channels by improving market efficiency, but also increased domestic firms' sensitivity to global shocks and revealed the policy trade-offs between efficiency and volatility in liberalization.

Fertility and Delayed Migration: How Son Preference Protects Young Girls Against Mother–Child Separation

Zibin Huang, Xu Jiang, Ang Sun, Aug 14, 2024

In rural China, the son preference paradoxically reduces the likelihood of early mother-child separation for girls, while boys are more prone to such separation.

Credit Constraints and Fraud Victimization: Evidence from a Representative Chinese Household Survey

Nan Gao, Yuanyuan Ma, Lixin Colin Xu, Jun 09, 2021

How and why do household credit constraints affect fraud victimization when households face fraud schemes? Using the urban sample of a novel nationally representative data set on fraud victimization and household finance, we find that households facing credit constraints are associated with a higher probability of becoming fraud victims and suffer from higher economic losses from frauds than households...

Competitive Effects of China’s Listing Suspensions

Frank Packer, Mark M. Spiegel, Oct 28, 2020

China’s suspensions of initial public offerings (IPOs) provide a unique opportunity to evaluate the competitive effects of IPO activity on listed firms, as existing studies are challenged by the influence of market conditions on IPO timing. We evaluate the stock returns of listed firms on the Shanghai and Shenzhen exchanges over the three most recent suspensions. We confirm adverse effects on listed firms from IPOs, both from direct competition and from the creation of close asset substitutes. We also find that weaker firms are more exposed to the adverse effects of IPO listings.

Bond for Employment: Evidence from China

Yi Huang, Shu Lin, Haichun Ye, Feb 15, 2023

Using the unique institutional feature of government regulations in China, we provide robust evidence that firms with a larger employment size have significantly better access to bond credit.