Learning by Investing: entrepreneurial spillovers from venture capital

The experience gained by individual investors from participating in venture capital funds significantly enhances their entrepreneurial capabilities in the high-tech sector.

Does Farming Culture Shape Household Financial Decisions?

This article discussing the collectivist culture from traditional rice farming in China leads households to prefer stock market investments and lottery purchases while reducing their need for insurance. This demonstrates the strong influence of cultural heritage on modern financial decisions and highlights the need to consider cultural factors in financial policy making.The collectivist culture from traditional rice farming in China leads households to prefer stock market investments and lottery purchases while reducing their need for insurance. This demonstrates the strong influence of cultural heritage on modern financial decisions and highlights the need to consider cultural factors in financial policy making.The collectivist culture from traditional rice farming in China leads households to prefer stock market investments and lottery purchases while reducing their need for insurance. This demonstrates the strong influence of cultural heritage on modern financial decisions and highlights the need to consider cultural factors in financial policy making.

How Do Public Pensions Affect Eldercare Mode and Son Preference? An Empirical Study on the New Rural Pension Scheme in China

How do public pension schemes reshape eldercare and social norms with son preference? Using variations in the timing of the New Rural Pension Scheme (NRPS) across rural Chinese counties..

Cooperative Culture and the Birth of Modern Enterprises in China

Industrial Policy and Retaliatory Protection under the WTO:Lessons from China

Industrial policy is increasingly implemented worldwide, with many policymakers and researchers highlighting its benefits (Juhász et al. 2024). However, the cost of industrial policy remains less understood. Using Chinese firm-level data, we show that higher industrial subsidies raise the likelihood and severity of foreign anti-dumping and countervailing duties at each investigation stage (Feng et al. 2025). These retaliatory tariffs wipe out roughly a quarter of the firm revenue growth the subsidies would otherwise create. Neglecting this channel may lead governments to overstate the net benefits of industrial policy and fuels deeper trade frictions and geoeconomic fragmentation.