PE

  • 详情 Beyond Technological Determinism: Institutional Capacity and Faculty Empowerment Driving Digitalizing in Higher Education-Evidence from Northwest China
    Digitalization is widely promoted as a means to enhance faculty development, yet in resource-constrained regions like Northwest China, structural inequalities persist. This qualitative case study examines how national policy, institutional capacity, and faculty agency interact to shape digital support in higher education. Drawing on institutional records and interviews with faculty from two universities, the study reveals stark disparities in funding, infrastructure, and training strategies. Research-intensive institutions benefit from policy-backed resources and expert-led programs, while regional universities rely on low-cost lectures and collaborations. Faculty report limited autonomy, disciplinary biases, and insufficient support for emerging technologies such as artificial intelligence. In this regional context, these findings challenge assumptions of resource neutrality and technological determinism in digital education policy. The study proposes a governance-oriented framework that emphasizes institutional responsibility, faculty empowerment, and context-sensitive digital strategies. It offers insights for policymakers and institutions seeking to advance equitable and sustainable faculty development in digitally transforming higher education systems.
  • 详情 Multitracking within a Multitasking Tournament: Evidence and Theory from China
    This paper studies how dividing candidates in a tournament into separate tracks with differentiated performance criteria affects incentives and aggregate outcomes. We exploit China’s Major Function Oriented Zoning plan, which assigns counties to devel-opment or conservation tracks, with the latter de-emphasizing growth indicators. Using a staggered Difference-in-Differences design, we find that prefectures introducing a con-servation track achieved higher aggregate economic performance despite relaxing growth-based evaluation for part of their subordinate counties. To explain this counterintuitive ef-fect, we develop a stylized Tullock contest model that highlights two institutional features: promotion opportunities remain open to officials in both tracks, and counties within the same prefecture continue to interact across tracks. The model further predicts an inverted U-shaped relationship between the size of the conservation track and overall performance, which is supported by empirical evidence.
  • 详情 Small-Scale Mining and the Law: Addressing the "Galamsey" Challenge
    Small scale mining has always been part of life in Ghana, but its illegal form known as galamsey has grown into one of the country’s biggest problems. Galamsey gives work to many people, yet still it destroys rivers, forests and farms, leaving communities struggling to survive. This paper looks at the laws that guide small scale mining in Ghana, from the days of traditional mining, through the colonial period, the Small Scale Gold Mining Law of 1989, and the Minerals and Mining Act, 2006 (Act 703) as amended by Act 995. It explains how weak enforcement, corruption, political interference and the role of foreigners, especially some Chinese nationals, have made the laws less effective. The paper also shows, through recent court cases such as Republic v Fynn and Republic v Domotey and Others, that Ghana’s courts are ready to punish offenders when cases are well presented. The courts have given long prison terms and heavy fines, showing that they are not the weak link in the fight. The real problem is poor enforcement and selective justice, since many foreigners are deported instead of being put on trial. The paper argues that solving the galamsey problem needs strong enforcement, freedom from political interference, the setting up of special environmental courts, and better job opportunities for rural communities. With these steps, Ghana can protect the environment while also supporting its people to make a living in lawful ways.
  • 详情 Governing water with digital: The institutional configurations of digital ecology enabling high-quality development of water conservancy
    High-quality development of water conservancy (HDWC) is of critical value for safeguarding the stability of production systems, livelihoods, and ecosystems. As the digital revolution intersects with China’s “dual carbon” targets, development of water conservancy must transition from traditional engineering approaches to data-driven ecological models. Drawing on institutional logic theory and employing dynamic qualitative comparative analysis across 30 Chinese provinces, this study examines how digital ecology facilitates the HDWC. The findings reveal that none of digital government, digital infrastructure, digital economy, digital capability, or digital society constitutes a necessary condition for the HDWC. Instead, it is the result of the combined effects of multiple institutional logics. Five configurations leading to HDWC are identified and categorized into four types: government-market-driven model, government-market-society-driven model, market-society-driven model, and government-society-driven model. The consistency of the configurations significantly increased during the study period. Furthermore, their distribution showed substantial regional differences. There are two configurations that inhibit the HDWC, namely the government-market-absence type and the market-society-absence type. Digital society emerges as a critical factor. This research uncovers multiple pathways through which digital ecology can empower HDWC, providing valuable insights for optimizing regional digital environments.
  • 详情 Determinants of Firm Survival Using Machine Learning: Evidence from the Pearl River Delta, China
    Firm survival, as a key indicator of regional economic resilience, has gained increasing attention in the context of global economic uncertainty and the deep adjustments in industrial structures. In the Pearl River Delta (PRD), a core region of China’s Guangdong-Hong Kong-Macau Greater Bay Area, the characteristics of firm life cycles are crucial for understanding spatial development inequalities and institutional effects in emerging economies. This study focuses on firms in the PRD, using full life-cycle data from registration, operation, to deregistration. An XGBoost regression model is employed, incorporating the SHAP explanation algorithm, to systematically analyze the main factors influencing firm survival. The results show that: (1) Firm establishment time is the primary factor influencing survival, with significant “survival threshold” and “growth leap” effects—mature firms exhibit a distinct survival advantage; (2) Among spatial structure variables, moderate industry specialization and diversity enhance firm survival rates, while excessive concentration and diversification show diminishing or negative returns, reflecting an “ecological threshold” effect; (3) External shocks have a significant suppressive impact on startups, while policy support and capital size show limited explanatory power; (4) The ownership structure, especially state-holding, has a positive moderating effect on firm survival in specific contexts, indicating that private enterprises’ flexibility and adaptability can compensate for institutional gaps. This study offers insights into the spatial heterogeneity of firm survival mechanisms, providing quantitative evidence for regional economic policy adjustments and firm resilience-building. Recommendations include promoting differentiated policies, optimizing industrial ecological spatial layouts, and piloting systems to enhance survival resilience, especially for mixed-ownership firms.
  • 详情 Impact of local government debt scale on corporate shift from virtual to real economy
    Understanding the impact of local government debt on economic development has emerged as a focal issue for both academic research and policymakers. This study adopts a financing structure perspective and utilizes panel data from 214 cities and 3,228 A-share listed companies in China (2017–2023) to empirically investigate the impact of local government debt on corporate “shift from virtual to real economy” and its underlying mechanisms. The expansion of local government debt significantly promotes enterprises “shift from virtual to real economy”. The positive impact of local government debt on enterprises” transition from financialization to the real economy is more pronounced among firms in first tier and new first-tier cities, non-state-owned enterprises, and labor-intensive industries. Further analysis indicates that local government debt drives capital reallocation from financial investments to real investments by alleviating corporate financing constraints. This study proposes policy recommendations including optimizing debt fund allocation, further optimizing the financing environment, implementing differentiated regulatory measures. These suggestions provide both a theoretical foundation and practical references for synergistically advancing debt governance and real economy revitalization.
  • 详情 Maintaining Empire: The Examination System and Secessionist Conflict in Imperial China
    The endurance of empire in China over much of the past two millennia contrasts starkly with the political fragmentation in Europe since the fall of Rome. To explain the persistence of China’s empire, we analyze the role of keju, the imperial civil service examination system. We argue that the systematic implementation of keju from the Song dynasty onward tied local elites to the imperial state, sustaining political integration and reducing secessionist conflicts. Exploiting panel data covering 4,243 grid cells and 22 centuries, we find robust evidence that areas producing more jinshi – the top exam passers – experienced significantly fewer secessionist wars. Our study shows how the examination system created the political incentives for imperial durability.
  • 详情 Local Decentralization, Location Endowments, and County-Level Economic Development: Evidence from China's County-to-City Reform Policy
    The relationship between economic decentralization and regional economic growth has attracted wide academic attention. However, existing literature rarely explores the validity and applicability of decentralization theory from the perspective of location endowments. This study takes China’s county-to-city reform - a decentralization policy - as a point of entry to construct a decentralization model incorporating location endowments. Using county-level panel data from 1992 to 2009 and employing a difference-in-differences (DID) approach, the study evaluates the impact of county-to-city reform under the constraint of location endowments on county-level economic development. The findings reveal that the policy effects of local decentralization are constrained by location endowments. Specifically, in regions with poorer location endowments, county-to-city reform significantly inhibits local economic development. Indeed, mechanism analysis further indicates that in such disadvantaged regions, local decentralization under the county-to-city reform generates a “political resource curse” effect, which hinders economic growth through three channels such as distorted fiscal expenditure structures, corruption, and misallocation of land resources. The conclusions of this study provide a valuable perspective for understanding the conditions under which decentralization theory holds, while also offering rigorous empirical evidence for government agencies to design more targeted decentralization policies.
  • 详情 Foreign Institutional Investors and Corporate Labor Investment Efficiency
    This article examines the link between foreign institutional holdings and firms’ efficiency in labor investment in the setting of Chinese markets. We find that foreign institutional investors enhance firms’ labor investment outcomes primarily through mitigating asymmetric information and by strengthening internal governance. Specifically, the influence of foreign institutional investors on a firm’s labor investment efficiency is stronger when the firm faces greater labor adjustment frictions. This effect is more evident when foreign institutional investors are originated from countries or areas with stronger cultural connections to China, stronger governance quality, common law traditions, or stronger bargaining power in the firms’ governance. Our paper contributes to the literature in that it documents the monitoring role of foreign institutional investors from the perspective of firms’ labor investment decisions, and adds to the literature on the drivers of firms’ labor investment choices.
  • 详情 Quantifying human capital disclosure in China with textual analysis
    Purpose – Estimates disclosure of human capital management for Chinese listed companies. Investigate the patterns ofthe disclosure of human capital management acrossindustries and regions. Examine the determinants of human capital management disclosure in China. Examine the association between human capital management disclosure and firm performance. Design/methodology/approach – We employ natural language processing techniques on annual reports’ management discussion and analysissections.We construct exposuremeasuresforten human capitalmanagement dimensions and synthesize them into one comprehensive measure of human capital management disclosure. We conduct empirical analysis on the measure using a sample of Chinese listed companies during 2009–2022. Findings – We construct a measure of human capital management disclosure for 5,153 Chinese companies during 2009–2022. We find that firms with high HCM disclosure are more labor intensive and have more cash holdings and R&D expenditure but have lower sales growth, market-to-book ratio and leverage. HCM disclosure is associated with better future accounting performance but poor future market valuation. There are substantial variations in HCM disclosure across industries, geographic regions and ownership types. HCM disclosure has increased significantly during the COVID-19 pandemic. Social implications – The increased HCM disclosure and its association with firm operating performance and market valuation indicate the relevance of HCM in corporate management and underscore the need for more robust and standardized disclosure of HCM in China. Our findingssupport recent regulatory efforts by CSRC to enhance the transparency and accountability in HCM disclosures and advocate for more explicit and specific HCM disclosure requirements in the future. Originality/value – We propose a quantitative measure of human capital management disclosure, which can be modified to apply to other markets. We construct a comprehensive, ready-to-use dataset for HCM disclosure for Chinese listed companies and conduct descriptive analysis on the dataset. We identify the patterns of human capital management disclosure and its determinants in China.