China
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- 06 Sep 2018
- Cold Call Podcast
Should US Companies Still Care About the Paris Climate Change Agreement?
American President Donald Trump pulled out of the 2015 Paris agreement on climate change one year ago. Vincent Pons discusses what it means for US business leaders in confronting environmental challenges. Open for comment; Comment(s) posted.
- 04 Sep 2018
- Working Paper Summaries
Some Facts of High-Tech Patenting
This study details the growth of patenting in software, cloud computing, artificial intelligence, and related technologies in the twenty-first century, and the continuing dominance of inventors in large US, Japanese, and Korean companies. Researchers still need to understand the impact of such trends on social welfare more generally.
- 12 Apr 2018
- Op-Ed
Op-Ed: The Trouble with Tariffs
The world's economies are interconnected by globalization, which makes threats of tariff wars doubly dangerous, says Willy Shih. Open for comment; Comment(s) posted.
- 29 Mar 2018
- Working Paper Summaries
Government Incentives and Financial Intermediaries: The Case of Chinese Sell-Side Analysts
This study is the first to examine analysts’ incentives vis-à-vis the government in a context where government has the ability and motives to influence capital market institutions. The paper highlights the role of government incentives in analysts’ behavior and output.
- 06 Feb 2018
- Working Paper Summaries
Subjectivity in Tournaments: Implicit Rewards and Penalties and Subsequent Performance
Analyzing data from a Chinese manufacturing company, this study explores side effects of subjective performance evaluations in a setting where workers are rewarded based on performance rankings and subject to both rewards and penalties. Among other contributions the paper highlights factors that could impact the overall effectiveness of incentive systems.
- 13 Jul 2017
- Working Paper Summaries
Catering Through Disclosure: Evidence from Shanghai-Hong Kong Connect
The researcher studies firms’ use of disclosure to build investor confidence when they operate in a market where the institutions that support the supply of credible information are weak.
- 20 Apr 2017
- Cold Call Podcast
Making Health Insurance That Consumers Actually Like
By motivating its insurance customers to take care of themselves, South African firm Vitality has expanded to the United Kingdom and China. In this podcast, Professor Regina Herzlinger discusses potential impacts of this model for health care in the United States. Open for comment; Comment(s) posted.
- 02 Mar 2017
- What Do You Think?
Is China About to Overtake the US for World Trade Leadership?
SUMMING UP. It's better for the United States if China is an economic ally rather than a competitor for world trade leadership, James Heskett's readers conclude. Open for comment; Comment(s) posted.
- 14 Feb 2017
- Working Paper Summaries
Capturing Value from IP in a Global Environment
Challenges to capturing value from know-how and reputation through the use of different IP tools is an increasingly important matter of strategy for global enterprises. They will need to combine different institutional, market, and non-market mechanisms, but the precise combination of tools will depend on local and regional institutional and market conditions.
- 17 Jan 2017
- Research & Ideas
Can China Maintain Its Economic Power?
Professor F. Warren McFarlan made his first visit to China in 1979 and has been returning ever since. He discusses the country's market-based reforms and its challenges to further growth. Open for comment; Comment(s) posted.
- 21 Nov 2016
- Working Paper Summaries
Intellectual Property Rights Protection, Ownership, and Innovation: Evidence from China
As China’s top leaders promote innovation as the key to the country’s sustained economic growth, the extent to which the state can drive innovation without sound institutions and economic incentives remains in question. The evidence in this study of innovation and intellectual property rights (IPR) protection strongly supports the view that effective economic institutions matter, even in China. In order to successfully transition the country from a development model dependent on cheap labor and physical investments to one that is innovation-driven, these results suggest that the role of the private sector will be crucial. Private firms are more innovative both in terms of quantity and quality of patents, and are more so in cities with strong IPR protection.
- 30 Jun 2016
- Working Paper Summaries
The Dyadic Ties of Managers and Financial Analysts and Their Externality on a Firm's Information Environment
Research by Gwen Yu and colleagues examines whether firms use private networks with financial analysts to disclose information to the capital market. Using a sample of listed firms and financial analysts from 2005 to 2014 in China, the study shows that firms with connected analysts have higher quality consensus forecast. Also, when a connected analyst drops coverage of a firm, there is a decrease in the quality of the forecasts of other analysts following the firm. The finding suggests that in emerging markets, connected analysts can be a channel of information dissemination to the capital market.
- 18 Feb 2016
- Working Paper Summaries
Urbanization with Chinese Characteristics? China’s Gamble for Modernization
If the Chinese Communist Party has its way in the coming decades, it will urbanize hundreds of millions of people, transform agriculture, and sustain economic growth--all without political instability. This paper details the risks and opportunities of China’s new-style urbanization reforms, arguing that proposals for urbanization and economic transformation are not a radical departure from the institutions that have structured Chinese society for the last 30 years.
- 10 Feb 2016
- Working Paper Summaries
Land Institutions and Chinese Political Economy: Institutional Complementarities and Macroeconomic Management
This paper shows the ways in which the Chinese Communist Party (CCP) has used land as a policy tool. CCP leaders intentionally reorganized fiscal, financial, and land institutions to put land at the center of local government finances in the mid-1990s. Since the late 1990s, the CCP has used the land supply as a key tool of macroeconomic expansion and contraction. Local officials act as agents of the center: pursuing land development when pushed to so do by central authorities concerned about managing economic growth.
- 21 Jan 2016
- Working Paper Summaries
The Globalization of Angel Investments: Evidence across Countries
Examining a cross-section of 13 angel groups who considered transactions across 21 countries, this study finds that angel investors have a positive impact on the growth of the firms they fund, their performance, and survival, while the selection of firms that apply for angel funding varies across countries.
- 23 Nov 2015
- Book
The Historian Who Came in from the Cold
While much has been written about the conflict between the United States and the Soviet Union during the Cold War, Jeremy S. Friedman’s Shadow Cold War: The Sino-Soviet Competition for the Third World is the first book to explore in detail the significance of the “Second Cold War” that China and the Soviet Union fought in the shadow of the communist and capitalist struggle. Open for comment; Comment(s) posted.
- 02 Sep 2015
- Research & Ideas
Explaining China's Crash
After a decade of massive growth, China’s stock market began a precipitous summer slide that that hasn't slowed yet. Dante Roscini explains what's deflating markets worldwide. Open for comment; Comment(s) posted.
- 07 Aug 2015
- Research & Ideas
Obama’s Clean Power Plan: Can Nuclear Power Beat the Global Threat of Coal?
Joe Lassiter believes the smart use of nuclear power is an essential ingredient in fighting the worldwide threat of coal-fired power plant emissions. Open for comment; 2 Comment(s) posted.
- 06 Jan 2015
- Working Paper Summaries
Henry A. Kissinger as Negotiator: Background and Key Accomplishments
This paper describes three of the most pivotal negotiations of statesman, scholar, and public intellectual Henry A. Kissinger, born in 1923 to a German Jewish family in Fuerth. These negotiations include the historic establishment of United States diplomatic relations with the People's Republic of China, the easing of geopolitical tension with the Soviet Union, and the mediation of the agreement on Sinai disengagement between Egypt and Israel. Additionally, the authors of this paper provide a brief summary of Kissinger's biography and career as well as an appendix of his involvement in other important diplomatic negotiations. In a forthcoming paper, the authors will examine these and other major events in which Henry Kissinger played leading roles in order to extract their most important insights into the principles and practice of effective negotiation. Key concepts include: Henry Kissinger played key roles in many important diplomatic negotiations. This paper outlines three in depth. Throughout his time as National Security Advisor and Secretary of State, Kissinger exerted a strong influence on American foreign policy. In tandem with working for détente with the Soviet Union, he played a central role in helping to end 23 years of diplomatic isolation and mutual suspicion between the United States and China as well as, after the 1973 Yom Kippur war, to orchestrate disengagement agreements between Egypt and Israel as well as Syria and Israel. Closed for comment; 0 Comment(s) posted.
Corruption, Government Subsidies, and Innovation: Evidence from China
Governments subsidize a growing number of innovation efforts, many of which may face the challenge of corruption. Using Chinese data, this study finds corruption-related distortions in government R&D subsidies, which diminished after the 2012 anti-corruption campaign and rotation of provincial officials. It provide insights for designing effective R&D subsidy programs.