| Srl | Item |
| 1 |
ID:
192387
|
|
|
|
|
| Summary/Abstract |
In this work, we systematically investigate the pricing mechanism change from auction to big data pricing on one of the major marketplace lending platforms in China. We find that big data pricing reduces the average interest rate while the borrowers with delinquency or default histories are assigned higher interest rates. However, repeat borrowers are also faced with growing interest rates, even though they have been paying their debts on time. Further analysis shows that repeat borrowers have lower income and education levels. Moreover, investor returns become less dispersed after pricing with big data, which can be a result of homogeneous loans on the market. The implications of the above findings are discussed.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 2 |
ID:
189064
|
|
|
|
|
| Summary/Abstract |
More frequent adjustments in macroeconomic policies around the world after the 2008 global financial crisis and the increasing instability of global supply chains due to the ongoing COVID-19 pandemic have presented companies which have foreign direct investment (FDI) with great difficulty in stabilising capital structure. This article attempts to investigate the impacts of FDI on the capital structure stability of Chinese companies based on the firm-level panel data from 2005 to 2019. The empirical results show that FDI has significant negative indirect impacts on both the market value and book value of capital structure volatility of host companies by changing companies' financial constraint status. These impacts vary for firms of different ownership types and weakened after the 2008 global financial crisis.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 3 |
ID:
192360
|
|
|
|
|
| Summary/Abstract |
This paper investigates the effect of air pollution on employees' earnings in China. Using both instrument variable (IV) and regression discontinuity design (RDD), we find that air pollution reduces employees' yearly earnings. A one μg/m3 increase in yearly PM2.5 decreases employees' yearly earnings by 175.4 CNY. The total loss in earnings for all employees working for our sample firms amounts to about 268.59 million CNY. Our estimations are not sensitive to a battery of different robustness checks. We also find that the effect of air pollution differs based on several factors including labor intensity, ownership types and firm size. Our mechanism tests indicate that air pollution can reduce employees' earnings by lowering their unit wage and reducing their working time. The resulting increase in firms' labor costs further undermines their operating status. Notably, air pollution exerts a non-linear negative effect on employees' earnings. Overall, our findings suggest that air pollution can significantly lower employees' benefits by reducing their earnings. Our paper also provides powerful support for formulating environmental regulations in the future.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 4 |
ID:
192334
|
|
|
|
|
| Summary/Abstract |
This paper provides the first study to explore the relationship between exposure to ambient temperatures during pregnancy and adolescent mental health in China. The results show that experiencing one more hot day relative to local historical contemporaneous average values during pregnancy significantly increases the likelihood of mental health disorders in adolescence. The impact is larger in the first and second trimesters. Individuals born in the northern region and whose mothers work in agriculture are more vulnerable to high temperatures. Prenatal exposure to hot days is more harmful to the mental health of older adolescents. Additionally, the adverse effects are similar for both men and women and individuals with rural and urban hukou. Biological effects, income effects, and human capital accumulation might be three operative channels of the impact. These findings add to the evidence on the lasting health effects of early life exposure to climatic shocks and call for policy interventions during pregnancy.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 5 |
ID:
192343
|
|
|
|
|
| Summary/Abstract |
The inefficient use of healthcare resources is a persisting challenge to almost all healthcare systems, making it imperative to understand the underlying factors of healthcare demand. This paper investigates patients' health-seeking behavior in rural China using a random coefficients logit model. We further perform a counterfactual simulation and welfare analyses to evaluate the inefficiencies in health services utilization. The counterfactual simulation reallocates patients to more efficient health providers following the principles of the hierarchical medical system. Our analysis suggests that out-of-pocket expenses and distance to providers discourage patients from utilizing healthcare, while quality of care has a positive effect on patients' hospital choices. However, significant heterogeneity exists in patient preferences over quality of care, out-of-pocket expenses, and distance to providers. The simulation results show that the overall welfare change may have masked variations related to the hypothetical change, with societal welfare loss from switching to higher-tier providers. Our analysis provides support for policies to improve hospitals and assist rural patients in financing healthcare in China.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 6 |
ID:
192328
|
|
|
|
|
| Summary/Abstract |
This paper explores the effect of digital finance adoption on women's bargaining power within the family. Empirical analysis finds that higher digital finance adoption significantly improves women's bargaining power and thus alleviates intra-household inequality. We explain the underlying mechanism in terms of women's participation in both labor and financial market. The subsample regression results show that the impact differs among families with distinct characteristics in terms of regions, family living patterns and women's fertility status. This paper provides a new perspective for understanding the inclusive contribution of digital finance and forms a timely complement to the literature in related fields.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 7 |
ID:
168430
|
|
|
|
|
| Summary/Abstract |
Few civil-conflict studies explore the role played by subnational-level governments, especially the impact of their providing public goods. In this paper, I argue that local governments can mitigate the risk of ethnic conflicts by increasing their provision of public goods. I situate this argument in the context of ongoing ethnic conflicts in Xinjiang, China. With a new data set of 105 ethnic conflicts in Xinjiang between 1997 and 2005, this study finds that counties with higher government spending on education were significantly less likely to experience conflicts. The results are robust to a wide range of robustness checks.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 8 |
ID:
175877
|
|
|
|
|
| Summary/Abstract |
China has undergone rapid urbanisation over the past four decades. Research has seemed to suggest that urbanisation has resulted in land expropriation. As local officials began to take rural land for urban development, revenues from land leases became an important source of income for local public budgets. Despite its significant contribution to public budgets, land grabbing in China has started to decrease since Xi Jinping took power in the fall 2012. With this as a starting premise, this article argues that Xi's corruption crackdown has impacted upon local officials' incentives for land expropriation. It also highlights the Chinese regime's advocacy of the rule of law in accounting for the variations in the intensity of the corruption crackdown.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|