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| 1 |
ID:
182822
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| Summary/Abstract |
We study discrimination on the basis of national origin in Singapore by exploring how the group identity discernible in a speaker's accent affects trust. In the trust game, Singaporean Chinese (SGC) senders were asked to listen to audio clips in which responders with either an SGC or a Mainland Chinese (MLC) accent read a two-sentence script before the senders decided how much money to send. We also used the strategy method to elicit the senders' beliefs about the trustworthiness of responders with an MLC accent versus those with an SGC accent. Contrary to our expectations and the common perception in Singapore, we found that Singaporean senders tended to place more trust in responders with an MLC accent than in responders with an SGC accent. We explain this difference on the basis of the Singaporean senders' beliefs about trustworthiness: they believed that people with an MLC accent would return more money to senders than would the in-group Singaporean counterparts. To bolster our findings, we confirmed in a separate experiment that the difference in response to the accents was not due to the speech rate or vocal pitch.
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| 2 |
ID:
182823
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| Summary/Abstract |
Using the unique setting in China's economic transition and market reform, we investigate whether CEOs' experience regarding an economic boom affect corporate financing decisions. Economic booming, as a result of China's reform and open policy since 1978, affects individual risk preferences and decision behavior for those who grew up during the reform process. We find that Reform-and-Opening CEOs, who experience the reform and open-up era early in life, implement more aggressive capital structure policies and maintain higher leverage compared to Planned Economy CEOs. Furthermore, we determine that Reform-and-Opening CEOs tend to conduct debt issuance more frequently to cover financing needs as they can better deal with the liquidity risk of debt financing and confront the pressures arising from frequent monitoring by the debt markets. Using the stagewise regression, we find a cumulative effect of early growth experience. We also use the common trend test and placebo tests to deal with the concern that Reform-and-Opening CEOs pursue significantly more aggressive financial policies relevant to the systematic differences. Additional tests rule out the possibility that our results are driven by industry competition, state ownership, and educational ideology.
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| 3 |
ID:
182824
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| Summary/Abstract |
The marriage of children is a milestone event in parenthood, while how parents' well-being evolves around the time children get married is limitedly understood. This paper examines the relationship between children's marriage and parents' subjective well-being. Using China Family Panel Studies (CFPS) data, we find that parental subjective well-being is positively associated with children's marriage. An examination of the underlying mechanisms shows that, first, children's marriage can significantly enhance parents' sense of security in old-age care and their confidence in the future. Second, the older the unmarried children are, the more anxious the parents who hold stronger traditional ideology will be. Third, parents will increase their consumption expenditure after their children get married; and compared with daughters, sons' marriages have a stronger effect on parental well-being. These findings reveal that parental economic pressure due to China's biased sex ratio and marriage squeeze is relieved after their children's marriage.
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| 4 |
ID:
182818
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| Summary/Abstract |
This study explores a cultural determinant of family ownership concentration of a corporate. Using hand-collected Chinese genealogy information and a panel of Chinese listed family firms, we find robust evidence that clan culture influences are associated with a significantly higher family ownership concentration. By taking advantage of firm owner birthplace information, we are able to separate the impact of inherited clan culture from that of external environmental factors. To further establish causality, we also employ an instrumental variable (IV) regression strategy and explore the underlying mechanisms.
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| 5 |
ID:
182817
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| Summary/Abstract |
This paper examines the effect of online learning time on graduating students' test scores in a senior high school. Decisions regarding online education, including those related to participation and learning hours, are endogenous due to both reverse causality and omitted variables. This paper is the result of the natural experiment of the outbreak of COVID-19, which made every student to participate in online education when the spring semester began. In addition, this paper uses a value-added model controlling for the scores that preceded online education, which is a sufficient statistic of students' unobserved ability and motivation. If this cannot completely eliminate the endogeneity problem, it should be able to largely alleviate the problem. The results indicate that: online education has positive but limited impacts on test scores on average, particularly those in the subject of math within the natural sciences track; top-tier students are most positively affected by online education; and the benefits of online education vary among students with different backgrounds. The quantile regression suggests that a 10% increase in online education time raises math test scores by more than 0.25 for the students between the 0.60th and 0.80th quantiles. Surprisingly, it is evident that online learning time has a significant negative effect for some students in certain subjects. Finally, online education neither widens nor narrows the inequality of students' test scores.
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| 6 |
ID:
182826
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| Summary/Abstract |
In this paper, we document the lesser-known heterogeneous trends of college/non-college earnings premium across age groups from 1995 to 2013 in China. Specifically, the college premium in 2013 for the younger group (age 25–34) was about 30 percentage points, similar to the level in 1995, while the college premium in 2013 for the older group (age 45–54) increased to 50 percentage points, nearly double that of 1995. To attribute these divergent trends of the college premium to the changes in the relative size of college workers, we use the model by Card and Lemieux (2001), which incorporates imperfect substitution between similarly educated workers in different age cohorts. Due to the distinctions of these trends in China, our identification is free of the overestimation issue that the existing studies suffer. Our results are similar to those in the U.S., U.K., Canada, and Japan. Holding the age cohort and survey year constant, a one unit increase in log relative size of college workers is associated with about 10 percentage points decrease in college/non-college premium and about 18 percentage points decrease in college/high school premium. We further find that the negative effect is much more substantial among the new entrants (age 25–29) than experienced workers (age 30–54). By this pattern, we demonstrate that the new labor market entrants are more sensitive to their own cohort size and argue that the confounding ability composition effect should not be a serious issue.
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| 7 |
ID:
182819
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| Summary/Abstract |
Agricultural research and extension are two main policy tools that governments can use to generate agricultural growth and transformation. China has made major investments in agricultural research and extension such that it achieved the largest research and extension systems worldwide. This study examined the contribution of public agricultural research and extension to provincial agricultural productivity in China from 1990 to 2013 and estimated the social rate of return on these investments. Employing different lag distribution structures (e.g., trapezoid, gamma, and polynomial) for public agricultural research and extension in the regression analyses, this study found that public agricultural research and development, public extension, and farmers' education have made major contributions to agricultural productivity growth in China. On average, the real rate of return to public investment in agricultural research and development was around 50%, and agricultural extension was 29%. Returns to public research ranged from 24% to 76% and the extension, from 11% to 52% across different provinces.
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| 8 |
ID:
182827
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| Summary/Abstract |
Does population aging in developing countries, which undermines their traditional export advantages, prevent them upgrading export? Using the method of instrument variables, this paper empirically shows that population aging significantly and adversely affects export upgrading in developing countries. Moreover, the negative impact of population aging is mainly channeled through innovation and human capital. Furthermore, the negative impact of population aging on export upgrading is not present in developed countries and is decreasing in recent years of developing countries. This is possibly due to the inferior institutions and slow adoption of automation in developing countries. Lastly, this paper extends the analysis to a disaggregated level, where the results suggest that an aging country indeed exports less of the products with higher quality.
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| 9 |
ID:
182825
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| Summary/Abstract |
Poverty alleviation has been one of the most important issues in human society, especially in rural areas. As a critical solution to settle rural poverty, entrepreneurship increases rural entrepreneurs' income and creates job opportunities in rural communities. However, why rural entrepreneurs have different employment choices remains underexplored. This research focuses on village cadres' entrepreneurship in China, exploring how the hybrid identity of village-cadre-entrepreneurs interacts and further influences their motivation to create more jobs. Furthermore, we theorize how contextual factors, such as village isolation, lineage group, and regional collective mobilization, shape the logic of the employment strategy resulting from this hybrid identity. Based on a nationwide representative sample comprising 4346 rural entrepreneurs and their enterprises, our findings indicate that village-cadre-entrepreneurs are motivated to provide more work opportunities within the system of village self-governance. With job creation, village-cadre-entrepreneurs preserve and strengthen the “patron” image of village-cadre identity and mitigate the “businessman” image of entrepreneur identity. Further to this, the positive effect of village-cadre-entrepreneurs offering more work opportunities via entrepreneurial activities is more prominent when villages i) are more isolated from the external environment, ii) have more lineage groups, or iii) are in areas with more collective mobilization. This study highlights the impact of rural governance logic in rural entrepreneurial activities and the significance of village-cadre-entrepreneurs' role in job creation and rural poverty alleviation.
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| 10 |
ID:
182820
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| Summary/Abstract |
The Wenchuan earthquake in 2008 devastated poverty-stricken areas in Sichuan Province, China. This paper examines the long-term effect of a disastrous earthquake on children's educational attainment using China's 2015 Population Census. Our cohort difference-in-differences results show that exposure to an earthquake has an unexpected significant positive impact on girls’ educational attainment in poor counties, but not on boys. We suggest that this surprising educational gain may be attributable to the reconstruction of schools and the reduction in school fees after disaster. In the long run, girls in poor affected counties are more likely to delay marriage, postpone childbearing and become self-employed compared with girls in poor unaffected counties. These findings potentially exhibit the unintended benefits in education from post-disaster interventions in poor areas.
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