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| 1 |
ID:
143423
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| Summary/Abstract |
It is widely accepted that board leadership structure and whether the chairperson and CEO roles should be undertaken jointly or separately affects the performance of a firm. Despite this consensus, empirical evidence presents major uncertainties as to the direction and degree of this influence. This study contributes to this debate by examining the relationship between board leadership structure and firm performance and the expense ratio, using propensity-score matching methods for Chinese PLCs from 2003–2010. It is reported that whilst CEO duality is not related to companies' profitability ratios, it is linked to a higher expense ratio compared to matched companies with a separate board leadership structure. This indicates that a separate board leadership structure is an effective corporate governance arrangement to reduce agency costs for Chinese PLCs.
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| 2 |
ID:
159023
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The screening mechanism of export trade facilitates enterprises to increase their recruitment threshold, which in turn has a biased impact on the employment of heterogeneous individuals. Incorporating export trade, screening-matching and gender discrimination in employment into a unified analysis and applying propensity score matching estimation on the basis of the theoretical framework of micro-enterprise and the optimized behavior of job seekers, this paper examines the relations between export trade of industrial enterprises and female labor employment levels in China during 2005–2007. The results indicate that: (1) the number and ration of female employees are increasing with the size and growth of the enterprise export, regardless of enterprise exports continuity. It demonstrates that export expansion does play a critical role in mitigating gender discrimination in employment. (2) For the enterprise with higher export continuity, there is a significant effect toward improving the number and proportion of female employees, conversely the worse effect. Thus, it is significantly meaningful to mitigate gender discrimination in employment by ensuring the continued export capacity of enterprises. (3) Comparing to the promoting effect of growth in the number of female employees, export has limit effect up on increasing the proportion of female employees. Therefore, it is rather difficult to resolve the issue of gender discrimination in employment by relying completely on exports expansion. Based on research findings, this paper discusses the policy implications in terms of easing gender discrimination in employment and promoting employment equity.
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| 3 |
ID:
188933
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This study extends the previous literature on the wage effects of over-education, focusing on young doctorate holders (DHs). It also contributes to the conventional over-education literature on a causal relationship between over-education and wages by implementing techniques of propensity score matching (PSM). By tackling potential bias as a consequence of omitted variable bias via the PSM strategy, this study provides evidence of the negative influence of over-education on wages (i.e., the over-education wage penalty) once potential sources of bias are adequately considered. While the current analysis is focused on one country, South Korea, its results might be relevant for many other countries that have experienced a rapid expansion in the supply of DHs over recent years.
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| 4 |
ID:
176845
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| Summary/Abstract |
During Phase 3 of the EU Emission Trading System (ETS), to remedy the so-called windfall profits obtained by companies that benefited from the free allocation of emission permits, the EU introduced an auction-based method for the allocation of carbon emission allowances. We estimate the effect on firms' profits from participating in auctions during Phase 3 of the EU ETS using a propensity score matching approach. The work shows that the introduction of the new market mechanism for allocating carbon emission allowances has no significant effect on corporate profits, whatever the measure of profitability used. From a policy standpoint, this result seems to suggest that this new allocation mechanism might fail to improve the incentives for companies to increase their production cost efficiency or to invest in breakthrough technologies that reduce CO2. The rather flat auction price trend seems to support this conclusion.
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| 5 |
ID:
086212
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2009.
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| Summary/Abstract |
Recent years have seen a surge in work on the impacts of active labor market programs for numerous countries. However, little evidence has been presented on the effectiveness of such programs in China. Recent economic reforms, associated with massive lay-offs, and the accompanying public retraining programs make China fertile ground for rigorous impact evaluations. This study uses survey data from the two large industrial cities Shenyang and Wuhan, covering the period 1998 to 2000, to evaluate retraining programs for over 2000 workers two years after they had been observed as displaced and unemployed. Using a comparison group design, this study is, to our knowledge, the first evaluation of its kind in China. The evidence suggests that retraining helped workers find jobs in Wuhan, but had little effect in Shenyang. The study raises questions about the overall effectiveness of retraining expenditures, and it offers some directions for policy-makers about future interventions to help laid-off workers.
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| 6 |
ID:
128446
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2014.
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| Summary/Abstract |
This paper evaluates the effects of a property tax bonus to promote the installation of solar-thermal energy systems in buildings in Andalusia (southern Spain). The propensity score matching methodology is used. The treatment group consists of municipalities of Andalusia that established property tax bonuses in their municipalities in 2010. The control group consists of municipalities that did not. The response variable measures the number of new square meters of solar thermal systems installed in 2010. The analysis leads to the conclusion that municipalities that established a property tax bonus had installed, on average, 102.245 to 122.389 square meters more. These results indicate that the percentage increase in squares meters installed in municipalities which adopted the tax bonus promotion ranged from 70.74% to 98.38%. These percentages were lower for rural municipalities (49.00% to 77.06%).
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| 7 |
ID:
175010
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As the most energy intensive industries, heavy industries are decisive for the realization of energy saving and emission reduction commitments. This study investigates factors behind CO2 emissions mitigation in China's heavy industries based on the system generalized method of moments (SYS-GMM) model. Results indicate that industrial structure (IS), fixed asset investment (F) and historical emissions are drivers for sectoral CO2 emission increase, while energy efficiency (EE) is a key factor for carbon emissions reduction. In order to further explore the effect of environmental regulations, we treat 2011 mandatory emission trading scheme (ETS) in high energy-consuming industries as a quasi-natural experiment, and conduct a Propensity Score Matching and Difference-in-Difference (PSM-DID) approach to analyze the policy effect. We find that the implementation of the mandatory emission reduction policy can reduce CO2 emissions of heavy industries, and the results are robust by testing the randomness of the policies. The policy implications are put forward to optimizing industrial structure and enhancing the environmental regulations in China's heavy industries.
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| 8 |
ID:
149764
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We examined gender differences in performance-based pay in an institute of a top Chinese university, to provide insight into the gender earnings gap. We found that male professors earned more from research and less from teaching than did comparable female professors even though male and female professors showed no statistically significant difference in the total performance-based pay. Given the piece rate nature of bonuses in the institute and one's tendency to invest more time in areas where one has comparative advantages to maximize the total income, the study results lead to the conclusion that male professors displayed comparative advantage in research while female professors exhibited comparative advantage in teaching. The conclusion is corroborated by analyses of time allocation, and number of papers published as first author and as co-author.
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| 9 |
ID:
159043
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Using an original linked firm-level panel data from Chinese manufacturing firms over the period 2002–2007, this paper examines how outward foreign direct investment (OFDI) led productivity increase of parent firms (known as the own-firm effect) changes over firm heterogeneity. Conducting propensity score matching (PSM) techniques and differences-in-differences (DID) analysis, we find strong and robust evidence that the first OFDI promotes parent firm's productivity and this effect varies substantially with the firms' characteristics. In particular, firm's absorptive capacity is essential for the own-firm effect, and the absorptive capacity related with the product innovation is more important than that of the process innovation for the own-firm effect. Also, OFDI strategies for obtaining advanced technology and investing in developed countries significantly strengthen the own-firm effect, whereas, government supports have no significant impacts on the own-firm effect.
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| 10 |
ID:
096235
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2010.
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| Summary/Abstract |
This paper evaluates the impact of privatization on firm employment using a panel dataset of 386 firms in China in the period 1995-2001. Our panel regressions find that employment drops more slowly in privatized firms than in pure state-owned firms by a margin of 17.7 percentage points over the base year of 1995. We also study the dynamic impacts of privatization on employment growth and find that the performance of privatized firms improves over time. Using the difference-in-difference propensity score matching method, we arrive at similar results. To test the robustness of our conclusions, we use alternative definitions of privatization and find that the impacts of privatization on employment are independent of the definition of privatization. These findings are robust even after we control other performance and financial variables as well as the pre-privatization employment history of privatized firms.
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| 11 |
ID:
169155
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| Summary/Abstract |
This paper introduces a quasi‐natural experimental framework into trade policy evaluation and reassesses China's trade liberalization through the survival of export products. We use propensity score matching and China's dual trade system to design a quasi‐natural experiment based on Chinese industrial enterprises, customs import and export, and tariff data over the period of 2000–2006; we then use survival analysis to study the impacts of China's trade liberalization on the export duration of manufacturing firms’ products. We find that the substantial reduction in import tariffs after China's accession to the World Trade Organization enhances the export duration of firm products, indicating that trade liberalization ameliorates the survival of export products. The promotion effects of tariff reduction on export duration are obviously stronger for core products than for noncore products.
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| 12 |
ID:
191329
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| Summary/Abstract |
Rather than by an invisible hand, many industries are kick-started by a government policy. Despite little robust evidence, local content requirements are increasingly used to incentivize domestic manufacturing if imports are cheaper. To examine the effect of local content, we explore an unintended quasi-policy-experiment. Starting in 2013, the Indian government simultaneously held solar auctions with and without local content, providing an otherwise unobserved counterfactual. We digitize the results from the 41 auctions worth 8.65 billion $ in solar module demand and collect annual revenue and solar patents of the 113 participating firms between 2004–2020. For causal identification, we compare winners of local content with similar open auction winners in a staggered difference-in-difference estimation. While we observe an insignificant increase in the same and the following year after firms win LCR auctions, overall, we find winning local content auctions does not significantly increase firms’ solar patents or sales. We identify three reasons why the policy did not create stronger, lasting effects. First, local content did not create sufficient production to enable learning by doing. Second, local content did not generate enough revenue for re-investment into R&D. Third, local content reduced competition in auctions. The analysis underlines the predicament countries face as open auction winners, despite having won 9 times as much capacity, do not patent much (more).
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| 13 |
ID:
149758
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| Summary/Abstract |
We investigate how R&D subsidies affect business R&D investments using cross-section data of high-tech manufacturing firms in Jiangsu province of China. Our estimations based on propensity score matching suggest that public subsidies positively influence business R&D investments. Further classifying firms into different groups by size, financial constraints, and ownership, we find that the stimulation effect is more significant and stronger for smaller firms, more financially constrained firms, and private-owned firms. The heterogeneity of policy effects with respect to export status, Relative Comparative Advantage index, region, and industry are also discussed.
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| 14 |
ID:
147420
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This paper investigates how private transfers from internal migration in China affect the expenditure behavior of families left behind in rural areas. Using data from the Rural–Urban Migration in China (RUMiC) survey, we assess the impact of remittances sent to rural households on consumption-type and investment-type expenditures. We apply propensity score matching to account for the selection of households into receiving remittances, and estimate average treatment effects on the treated. We find that remittances supplement income in rural China and lead to increased consumption rather than increased investment. Moreover, we find evidence of a strong negative impact on education expenditures, which could be detrimental to sustaining investment in human capital in poor rural areas in China.
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