IF 5.5 1区经济学

中国经济评论 Pub Date : 2026-02-01 Epub Date: 2026-01-12 DOI: 10.1016/j.chieco.2026.102651

Wei Tang , Yuan Wang , Haiqi Wei

引用次数: 0

Regulatory bias under fiscal stress: Evidence from non-local firms in maritime transport enforcement 财政压力下的监管偏见：来自海上运输执法中的非本地公司的证据

IF 5.5 1区经济学

中国经济评论 Pub Date : 2026-02-01 Epub Date: 2026-01-21 DOI: 10.1016/j.chieco.2026.102662

Yukun Wang , Min Dai

引用次数: 0

The impact of bank internationalization on the efficiency of Chinese outward foreign direct investment 银行国际化对中国对外直接投资效率的影响

IF 5.5 1区经济学

中国经济评论 Pub Date : 2026-02-01 Epub Date: 2026-01-03 DOI: 10.1016/j.chieco.2025.102648

Xingjian Zhang , Yi Zhang , Yingjie Fu , Feichi Lu

引用次数: 0

The distributive effects of online judicial auctions on corporate credit 网络司法拍卖对企业信用的分配效应

IF 5.5 1区经济学

中国经济评论 Pub Date : 2026-02-01 Epub Date: 2025-12-31 DOI: 10.1016/j.chieco.2025.102649

Zijun Cheng , Michael Beichen Huang , Chaoqun Li , Yongwei Ye

{"title":"The distributive effects of online judicial auctions on corporate credit","authors":"Zijun Cheng , Michael Beichen Huang , Chaoqun Li , Yongwei Ye","doi":"10.1016/j.chieco.2025.102649","DOIUrl":"10.1016/j.chieco.2025.102649","url":null,"abstract":"<div><div>This paper investigates the distributional effects of judicial FinTech on corporate financing, leveraging China’s staggered adoption of Online Judicial Auctions (OJAs). While the reform successfully enhances creditor protection–boosting auction volumes, prices, and reducing defaults–its benefits accrue unequally. Using a difference-in-differences design with multiple firm-level datasets, we find that listed firms and large firms in the National Tax Survey dataset significantly increase their leverage, whereas small and medium enterprises (SMEs) experience negligible changes in debt, investment, or employment. This heterogeneity is systematically graded by firm size. The credit expansion for large firms is not met by an increase in aggregate bank lending, revealing a short-run inelasticity of credit supply. Consequently, the surge in demand triggers a reallocation of the existing credit pool, crowding out smaller firms, which subsequently face higher borrowing costs. Our findings demonstrate that even efficiency-enhancing judicial reforms can have redistributive consequences, underscoring the critical role of general equilibrium forces and the need for complementary policies to support SMEs.</div></div>","PeriodicalId":48285,"journal":{"name":"中国经济评论","volume":"96 ","pages":"Article 102649"},"PeriodicalIF":5.5,"publicationDate":"2026-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145904031","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"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

Inventors in the top management team: How position shapes corporate innovation 高层管理团队中的发明家：职位如何影响企业创新

IF 5.5 1区经济学

中国经济评论 Pub Date : 2026-02-01 Epub Date: 2026-01-19 DOI: 10.1016/j.chieco.2026.102663

Yafei Li , Shaoxiang Jiang , Jinping Sun

引用次数: 0

Promoting organic fertilizer use through subsidy incentives and knowledge dissemination 通过补贴激励和知识传播促进有机肥的使用

IF 5.5 1区经济学

中国经济评论 Pub Date : 2026-02-01 Epub Date: 2026-02-05 DOI: 10.1016/j.chieco.2026.102671

Jiangyi Li , Siyu Ding , Jiajia Chen

引用次数: 0

Fintech adoption and skill demand of financial institutions 金融机构对金融科技的采用和技能需求

IF 5.5 1区经济学

中国经济评论 Pub Date : 2026-02-01 Epub Date: 2026-01-12 DOI: 10.1016/j.chieco.2026.102660

Shuang-Xuan Sun , Chun-Yu Ho , Xi Zhu

引用次数: 0

Government linked companies (GLCs) and public private partnership (PPP) in the water sector in China: Political connection, utility performance and service quality 中国水务部门的政府关联公司（GLCs）和公私合作伙伴关系（PPP）：政治关系、公用事业绩效和服务质量

IF 5.5 1区经济学

中国经济评论 Pub Date : 2026-02-01 Epub Date: 2026-01-02 DOI: 10.1016/j.chieco.2025.102650

Xiaoting Zheng , Jiayu Wen , Xun Wu

{"title":"Government linked companies (GLCs) and public private partnership (PPP) in the water sector in China: Political connection, utility performance and service quality","authors":"Xiaoting Zheng , Jiayu Wen , Xun Wu","doi":"10.1016/j.chieco.2025.102650","DOIUrl":"10.1016/j.chieco.2025.102650","url":null,"abstract":"<div><div>Public–Private Partnerships (PPPs) in essential infrastructure face persistent tensions between commercial viability and public service obligations, leading to widespread challenges in implementation and sustainability. In contrast, Government-Linked Companies (GLCs)—corporations with significant state ownership operating under market principles—have emerged as alternative social capital participants within China's PPP framework, offering a hybrid approach that combines state backing with market-based operations. This study applies principal–agent theory and analyzes a panel dataset of Chinese water utilities for 2000–2016 to assess how a GLC-involved hybrid governance structure influences financial and operational performance. The findings indicate that GLC involvement significantly enhances financial outcomes, increasing revenue by 9.2 % and profit by 98.6 %, while improving operational efficiency through strategic workforce management. These effects are particularly pronounced in regions with annual precipitation below 800 mm and in provinces with higher marketization indices, suggesting that GLCs are most effective where market institutions are stronger. By demonstrating how GLCs mitigate the governance challenges that have hindered traditional PPPs, this study highlights their potential as a sustainable infrastructure model that balances financial sustainability with public service commitments.</div></div>","PeriodicalId":48285,"journal":{"name":"中国经济评论","volume":"96 ","pages":"Article 102650"},"PeriodicalIF":5.5,"publicationDate":"2026-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145941250","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"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

Returns to college education of Chinese manufacturing employees: Who benefits more? 中国制造业员工回归大学教育：谁更受益？

IF 5.5 1区经济学

中国经济评论 Pub Date : 2026-02-01 Epub Date: 2026-01-21 DOI: 10.1016/j.chieco.2026.102665

Yuheng Lin , Dooruj Rambaccussing , Yu Zhu

{"title":"Returns to college education of Chinese manufacturing employees: Who benefits more?","authors":"Yuheng Lin , Dooruj Rambaccussing , Yu Zhu","doi":"10.1016/j.chieco.2026.102665","DOIUrl":"10.1016/j.chieco.2026.102665","url":null,"abstract":"<div><div>Using the China Employer-Employee Survey (CEES) data, this study examines the returns to college education for employees across China's manufacturing industry, most of them work in small and medium-sized enterprises (SME). Our baseline model finds that while the 1999 higher education (HE) expansion has no significant impact on college enrollment for male employees, it significantly increases college enrollment for female employees by 23.7% in the manufacturing sector. College education significantly increases the returns by 45.20% for males and 88.33% for females. Moreover, there is heterogeneity in the effects by potential gains: individuals who failed to attend college would have had a higher return compared to college graduates, indicating reverse selection into HE. Further analysis reveals that the effects are more pronounced among female managers, middle birth cohorts (born between 1984 and 1987), female vocation-track degree holders, and STEM graduates. Additionally, college education facilitates employment in roles requiring cognitive skills and reduces the likelihood of female employees performing physically demanding tasks.</div></div>","PeriodicalId":48285,"journal":{"name":"中国经济评论","volume":"96 ","pages":"Article 102665"},"PeriodicalIF":5.5,"publicationDate":"2026-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"146090653","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"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

Information disclosure and property value in China 中国的信息披露与财产价值

IF 5.5 1区经济学

中国经济评论 Pub Date : 2026-02-01 Epub Date: 2026-02-07 DOI: 10.1016/j.chieco.2026.102673

Jixiang Qiu , Yingdan Mei , Pengfei Liu , Xiaoning Su

引用次数: 0

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