Annual Conference

|

Accounting

|

May 2021

Information in Mandatory and Voluntary Earnings Announcement Date Forecasts

Paul MA, Greg CLINCH, Mary BARTH
We investigate whether mandatory earnings announcement date forecasts are informative to investors and the informational tradeoffs between mandatory and voluntary forecasts. We find: (i) The percentages of the quarter’s earnings news conveyed by mandatory China and voluntary US forecasts are simil...
Keywords: forecasts of earnings announcement dates, mandatory forecasting, private information precision, Voluntary Disclosure, informational tradeoffs
  • View
  • Download
  • Bookmark
  •    |   

Annual Conference

|

Trade, Growth and Development

|

May 2021

Growing through Competition: The Reduction of Entry Barriers among Chinese Manufacturing Firms

Lijun ZHU, Yu ZHENG, Helu JIANG
Using the World Bank's Starting a Business score as a measure of administrative and regulatory entry barriers, we show evidence from the firm-level data of the Chinese manufacturing sector that regions with lower entry barriers experience higher productivity growth and more competition. We interpret...
Keywords: firm entry, Endogenous Growth, Firm Dynamics, Entry Barriers
  • View
  • Download
  • Bookmark
  •    |   

Annual Conference

|

Trade, Growth and Development, Senior Fellows/Fellows

|

May 2021

Golden Ages: A Tale of Two Labor Markets

Hanming FANG, Xincheng QIU
We document stark differences in the labor market outcomes between the U.S. and China, the largest two economies in the world, during the past 30 years. (1) The peak age in cross-sectional age-earnings profiles stays constant at around 45- 50 years old in the U.S. but decreases sharply from 55 to 35...
Keywords: Age-Earnings Profiles, Human capital, Life Cycle
  • View
  • Download
  • Bookmark
  •    |   

Annual Conference

|

Trade, Growth and Development, Senior Fellows/Fellows

|

May 2021

Supporting Seniors: How Low-Income Elderly Individuals Respond to a Retirement Support Program

Sumit AGARWAL, Wenlan QIAN, Bernard YEUNG, Tianyue RUAN
Longer life expectancy and insufficient savings expose individuals to financial vulnerability in older ages and prompt government support measures. We study a government cash subsidy program for the low-income elderly population in Singapore. Using comprehensive, high-frequency transaction data, we ...
Keywords: retirement support, cash transfer, Consumption, Liquidity Constraints
  • View
  • Download
  • Bookmark
  •    |   

Annual Conference

|

Trade, Growth and Development, Senior Fellows/Fellows

|

May 2021

Bureaucratic Bean Counting and Patent Subsidies: A Welfare Evaluation of China's Pro-innovation Program

Shang-Jin WEI, Xiaobo ZHANG, Ge YIN, Jianhuan XU
This paper quantifies the welfare effect of the patent subsidy policy (the InnoCom program) in China. The policy encourages firms to hold more patents, but disregard the quality of patents. We provide evidence that the subsidy decreases the value of patents either through declining the quality of ne...
Keywords: Welfare effect, patent subsidy, positive demand shock, China
  • View
  • Download
  • Bookmark
  •    |