Journal of Asian Economics最新文献_第2页

A waterfront pavilion gets the moonlight first: State-owned enterprises and transit-adjacent land transactions in China 首先映入眼帘的是中国的国有企业和毗邻过境的土地交易

IF 3.6 3区经济学

Journal of Asian Economics Pub Date : 2026-10-01 DOI: 10.1016/j.asieco.2026.102271

Ling Li, Shenghua Lu

{"title":"A waterfront pavilion gets the moonlight first: State-owned enterprises and transit-adjacent land transactions in China","authors":"Ling Li, Shenghua Lu","doi":"10.1016/j.asieco.2026.102271","DOIUrl":"10.1016/j.asieco.2026.102271","url":null,"abstract":"<div><div>Having their roots in the planned economy period of China, state-owned enterprises (SOEs) have featured prominently in the development of the market economy. This study investigates whether SOEs, with natural political connections due to their shareholding structure, behave differently from privately owned enterprises (POEs) when they acquire urban land adjacent to new rail transit stations that have promising appreciation potential. Using a unique data set of urban land parcel transactions combined with information regarding land buyers and urban rail transit development, the results suggest that SOEs may have access to early information concerning new transit stations and are more likely to win residential and commercial land adjacent to stations before its price shoots up. This pattern does not exist in the industrial land market because of its limited potential for price appreciation. We further discover that the information advantage enjoyed by SOEs in the acquisition of transit-adjacent land is largely dependent on their political connections with the local authority, which disappeared after the anticorruption campaign in 2012. The findings of this study suggest one more avenue through which local governments may influence outcomes in the land market.</div></div>","PeriodicalId":47583,"journal":{"name":"Journal of Asian Economics","volume":"106 ","pages":"Article 102271"},"PeriodicalIF":3.6,"publicationDate":"2026-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"149142729","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Economic development, international trade and finance 经济发展、国际贸易和金融

IF 3.6 3区经济学

Journal of Asian Economics Pub Date : 2026-09-01 Epub Date: 2026-07-01 DOI: 10.1016/j.asieco.2026.102219

Eden S.H. Yu, Chi-Chur Chao

引用次数: 0

The effects of climate transition risk on inflation persistence and vulnerability: Evidence from Chinese provincial panel data 气候转型风险对通胀持续性和脆弱性的影响：来自中国省级面板数据的证据

IF 3.6 3区经济学

Journal of Asian Economics Pub Date : 2026-09-01 Epub Date: 2026-08-25 DOI: 10.1016/j.asieco.2026.102245

Sun Yue, He Wu

引用次数: 0

The impact of entrepreneurial spirit on corporate risk-taking levels 企业家精神对企业冒险水平的影响

IF 3.6 3区经济学

Journal of Asian Economics Pub Date : 2026-09-01 Epub Date: 2026-08-08 DOI: 10.1016/j.asieco.2026.102236

Caijie Zhu, Xiaoran Niu, Ruofei Du, Baoyi Zhang, Lizhong Hao

{"title":"The impact of entrepreneurial spirit on corporate risk-taking levels","authors":"Caijie Zhu, Xiaoran Niu, Ruofei Du, Baoyi Zhang, Lizhong Hao","doi":"10.1016/j.asieco.2026.102236","DOIUrl":"10.1016/j.asieco.2026.102236","url":null,"abstract":"<div><div>Characterized by innovativeness and proactiveness, entrepreneurial spirit has consistently served as a key driving force behind China’s economic transformation, directly influencing the level of corporate risk-taking. However, the intrinsic link between entrepreneurial spirit and corporate risk-taking has not yet been fully revealed. Drawing on a sample of 12,636 firm-year observations from A-share listed companies on the Shanghai and Shenzhen stock exchanges over the period from 2014 to 2023, this study investigates the impact of entrepreneurial spirit on corporate risk-taking behavior, as well as the moderating role of internal control effectiveness in this relationship. Empirical results indicate that a higher level of entrepreneurship is associated with a stronger propensity for corporate risk-taking, and that robust internal controls can moderate the positive effect of entrepreneurial spirit on risk-taking behavior. Further analysis reveals that innovation capability, entrepreneurial spirit, and entrepreneurial talent are key factors driving this effect. This association is particularly pronounced in state-owned enterprises (SOEs), where higher entrepreneurial levels correspond to greater risk-taking propensities, and also in the manufacturing sector, where innovation-intensive strategies exacerbate corporate risk exposure. By constructing and quantifying a comprehensive evaluation system for entrepreneurial spirit, this study not only enriches the theoretical framework in the fields of entrepreneurship, innovation intensity, and risk management, but also provides both theoretical and practical implications for policymakers and enterprises seeking to promote innovation-driven sustainable development.</div></div>","PeriodicalId":47583,"journal":{"name":"Journal of Asian Economics","volume":"105 ","pages":"Article 102236"},"PeriodicalIF":3.6,"publicationDate":"2026-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"148934588","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Exit of the weak, expansion of the frontier? Forced delisting and rival firms’ innovation boundaries 弱者的退出，边疆的扩张？强制退市和竞争对手的创新边界

IF 3.6 3区经济学

Journal of Asian Economics Pub Date : 2026-09-01 Epub Date: 2026-08-20 DOI: 10.1016/j.asieco.2026.102244

Jinbiao Yi, Yang Yang, Peihao Shi

{"title":"Exit of the weak, expansion of the frontier? Forced delisting and rival firms’ innovation boundaries","authors":"Jinbiao Yi, Yang Yang, Peihao Shi","doi":"10.1016/j.asieco.2026.102244","DOIUrl":"10.1016/j.asieco.2026.102244","url":null,"abstract":"<div><div>A sound delisting mechanism is a key institutional arrangement for enhancing capital market efficiency. With the deepening of registration-based IPO reform and stricter delisting regulations, market cleansing in China has significantly accelerated, urgently necessitating in-depth investigation into its microeconomic effects. From the perspective of competitors of forcibly delisted firms, this study uses a sample of A-share listed companies from 2015 to 2024 to empirically examine the impact of capital market cleansing on corporate innovation boundaries. The findings reveal that forced delisting significantly promotes the expansion of competitors' innovation boundaries, manifested as a 10.81% rise in new technology field patents. This effect operates by alleviating product market competitive constraints, reconfiguring managerial attention allocation, and mitigating innovation financing constraints, thereby enabling firms to venture beyond established technological trajectories. Additionally, the expansion of innovation boundaries is more pronounced in firms with higher product market positions, in industries with rapid technological iteration, in strategically aggressive firms, and in companies dominated by long-term institutional investors. This study provides systematic empirical evidence on how capital market cleansing influences micro-level corporate innovation decisions and offers important policy implications for evaluating the effectiveness of delisting system reforms and leveraging the capital market's function in serving real economy innovation.</div></div>","PeriodicalId":47583,"journal":{"name":"Journal of Asian Economics","volume":"105 ","pages":"Article 102244"},"PeriodicalIF":3.6,"publicationDate":"2026-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"148854136","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Robots and fertility intentions in China: Evidence from migrant workers 机器人与中国的生育意向：来自农民工的证据

IF 3.4 3区经济学

Journal of Asian Economics Pub Date : 2026-06-01 Epub Date: 2026-05-20 DOI: 10.1016/j.asieco.2026.102189

Haoyu Hu , Dawei Feng , Wei Wang

引用次数: 0

The role of the central bank in credit and business cycle movements: Evidence from Fiji 中央银行在信贷和商业周期运动中的作用：来自斐济的证据

IF 3.4 3区经济学

Journal of Asian Economics Pub Date : 2026-06-01 Epub Date: 2026-05-28 DOI: 10.1016/j.asieco.2026.102194

Sanjiv Kumar , K.P. Prabheesh , Salote Cirikisuva , Rajeshni Kumari

{"title":"The role of the central bank in credit and business cycle movements: Evidence from Fiji","authors":"Sanjiv Kumar , K.P. Prabheesh , Salote Cirikisuva , Rajeshni Kumari","doi":"10.1016/j.asieco.2026.102194","DOIUrl":"10.1016/j.asieco.2026.102194","url":null,"abstract":"<div><div>This study attempts to investigate the co-movements between the business and credit cycles and examines the role of the central bank in stabilizing these cycles in the case of Fiji. For estimation purposes, we utilized the concordance index, dynamic conditional correlation, and a Generalized Linear Model for the sample period from 1992Q1 to 2023Q4. The study finds that, according to the concordance index, both the credit cycle and business cycle moved in the same direction 64% of the time. From the perspective of dynamic conditional correlation, we observe that from 1992 to 2003, the credit and business cycles were positively correlated. However, from 2003 to 2007, the correlation between the two cycles was negative. Moreover, post-COVID-19, both cycles exhibit a positive correlation. Findings form the regression shows that the credit cycle positively affects the business cycle; however, the interest rate is found to have a weak transmission effect on the business cycle. Global GDP has a positive effect on Fiji's credit cycle but exhibits a negative effect on the business cycle.</div></div>","PeriodicalId":47583,"journal":{"name":"Journal of Asian Economics","volume":"104 ","pages":"Article 102194"},"PeriodicalIF":3.4,"publicationDate":"2026-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"148184405","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Market integration and regional inequality: From the perspective of trade and migration 市场一体化与区域不平等：基于贸易和移民的视角

IF 3.4 3区经济学

Journal of Asian Economics Pub Date : 2026-06-01 Epub Date: 2026-05-21 DOI: 10.1016/j.asieco.2026.102187

Renhao Huang , Zhenlin Zhang

{"title":"Market integration and regional inequality: From the perspective of trade and migration","authors":"Renhao Huang , Zhenlin Zhang","doi":"10.1016/j.asieco.2026.102187","DOIUrl":"10.1016/j.asieco.2026.102187","url":null,"abstract":"<div><div>This paper develops a general equilibrium model incorporating trade and both intersectoral and interregional migration. Using China’s population census and provincial input-output data from 2000 to 2015, it quantifies changes in trade and migration costs and examines their effects on regional income inequality. The results show that while declining trade costs promote economic growth, they may exacerbate regional inequality. In contrast, reductions in migration costs—whether across sectors or regions—consistently contribute to narrowing regional income inequality. Further analysis reveals that free labor flow offsets inequality induced by trade liberalization, whereas restricted labor flow amplifies regional income inequality. Under potential shocks, all three types of costs remain influential: trade cost reductions drive growth but increase inequality risks, while migration cost reductions improve allocation and reduce inequality. In addition, land income distribution reform promotes both economic growth and regional income convergence, with stronger effects when combined with changes in trade and migration costs. These findings provide policy implications for achieving common prosperity and improving income distribution in the context of a unified national market.</div></div>","PeriodicalId":47583,"journal":{"name":"Journal of Asian Economics","volume":"104 ","pages":"Article 102187"},"PeriodicalIF":3.4,"publicationDate":"2026-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"148184404","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

How does customer artificial intelligence affect supplier green innovation? Evidence from China’s supply chains 客户人工智能如何影响供应商绿色创新？来自中国供应链的证据

IF 3.4 3区经济学

Journal of Asian Economics Pub Date : 2026-06-01 Epub Date: 2026-05-23 DOI: 10.1016/j.asieco.2026.102193

Yunjie Chen , Zhijie Gan , Zhenhao Sun , Yanfeng Li

引用次数: 0

Enterprises’ bargaining power, supervision by public opinion, and environmental regulations: Evidence from the pollutant discharge permit system of China 企业议价能力、舆论监督与环境规制：来自中国排污许可制度的证据

IF 3.4 3区经济学

Journal of Asian Economics Pub Date : 2026-03-01 Epub Date: 2026-01-27 DOI: 10.1016/j.asieco.2026.102134

Jingbing Feng , Shuai Shao , Hao Wu

{"title":"Enterprises’ bargaining power, supervision by public opinion, and environmental regulations: Evidence from the pollutant discharge permit system of China","authors":"Jingbing Feng , Shuai Shao , Hao Wu","doi":"10.1016/j.asieco.2026.102134","DOIUrl":"10.1016/j.asieco.2026.102134","url":null,"abstract":"<div><div>Enterprises face various levels of environmental regulation intensity due to the discretion of local governments, which affects the outcome of environmental regulation policy. However, few studies have specifically discussed how informal environmental regulations, represented by public opinion supervision, can correct the above phenomenon. On the basis of data on China’s pollutant discharge permits from 2017 to 2019, this paper directly characterizes environmental regulations at the micro enterprise level and uses the truncated regression method to empirically investigate the weakening effect of enterprises’ bargaining power on environmental regulations and how supervision by public opinion can correct it. The results show that the greater the bargaining power is, the lower the level of environmental regulations are. Further analysis reveals that a higher level of supervision by public opinion, i.e., higher degrees of environmental information disclosure and media concern over environmental issues, can decrease the weakening effect of enterprises’ bargaining power on environmental regulations. The effective role of public opinion relies on institutional conditions, such as superior supervision and the financial status of local governments. This study adds to the literature by providing the empirical evidence of the spatial differences in environmental regulations and the relationship between formal and informal environmental regulations at the micro level, serving as an important decision-making reference for optimizing environmental governance strategies.</div></div>","PeriodicalId":47583,"journal":{"name":"Journal of Asian Economics","volume":"103 ","pages":"Article 102134"},"PeriodicalIF":3.4,"publicationDate":"2026-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"147421552","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0