This study analyzes how economic policy uncertainty affects corporate innovation,and the moderating effects of executive heterogeneity.A threephase dynamic investment and financing model is first built to analyze the ...This study analyzes how economic policy uncertainty affects corporate innovation,and the moderating effects of executive heterogeneity.A threephase dynamic investment and financing model is first built to analyze the mechanism.Empirical analysis confirms that the increase in the degree of economic policy uncertainty promotes enterprise innovation.Further results show that this promotion effect is more significant in enterprises with male executives,low educational level,no financial experience and political background.Moreover,the positive impact is only found in enterprises with moderate executive ability,and the overconfidence of senior executives plays a positive regulating role in it.展开更多
Since the commencement of industrial reform in Chinna, most CHinese state-owneu enterprises have adopted a deferred executive compensation policy to provide incentives for their management teams. However, the effectiv...Since the commencement of industrial reform in Chinna, most CHinese state-owneu enterprises have adopted a deferred executive compensation policy to provide incentives for their management teams. However, the effectiveness of such a policy needs to be evaluated In this paper, we specify a model of deferred executive compensation policy, in which the compensation for executives is contingent on firms ＇future revenue. The model suggests that under deferred executive compensation policies, managers exhibit an increasing level of effort in every period Furthermore, the deferred compensation policy encourages managers to make long-term investments, which might generate revenue even after the termination of managerial contracts.展开更多
Tax reductions aim to boost service trade China will seek to increase the service and merchandise trade by increasing accessibility for overseas companies and providing tax cuts for technology providers,a State Counci...Tax reductions aim to boost service trade China will seek to increase the service and merchandise trade by increasing accessibility for overseas companies and providing tax cuts for technology providers,a State Council executive meeting decided on February 14.Further opening up the service market and developing the service trade despite the"complex and challenging global economic situation"was one of the main items on the agenda.展开更多
Sri Lankan President Premodasa was killed by a suicide bomber in a massive blast at a May Day rally. On May 7, Prime Minister Dingiri Banda Wijetunge was elected Sri Lanka’s new executive president by the Parliament.
基金the support of Humanities and Social Sciences Foundation of the Ministry of Education"Research on policy uncertainty,non-financial enterprises’shadow banking activities and its economic effects"(20YJC790040)School Level Special Research Project of Beijing International Studies University(KYZX20A008).
文摘This study analyzes how economic policy uncertainty affects corporate innovation,and the moderating effects of executive heterogeneity.A threephase dynamic investment and financing model is first built to analyze the mechanism.Empirical analysis confirms that the increase in the degree of economic policy uncertainty promotes enterprise innovation.Further results show that this promotion effect is more significant in enterprises with male executives,low educational level,no financial experience and political background.Moreover,the positive impact is only found in enterprises with moderate executive ability,and the overconfidence of senior executives plays a positive regulating role in it.
文摘Since the commencement of industrial reform in Chinna, most CHinese state-owneu enterprises have adopted a deferred executive compensation policy to provide incentives for their management teams. However, the effectiveness of such a policy needs to be evaluated In this paper, we specify a model of deferred executive compensation policy, in which the compensation for executives is contingent on firms ＇future revenue. The model suggests that under deferred executive compensation policies, managers exhibit an increasing level of effort in every period Furthermore, the deferred compensation policy encourages managers to make long-term investments, which might generate revenue even after the termination of managerial contracts.
文摘Tax reductions aim to boost service trade China will seek to increase the service and merchandise trade by increasing accessibility for overseas companies and providing tax cuts for technology providers,a State Council executive meeting decided on February 14.Further opening up the service market and developing the service trade despite the"complex and challenging global economic situation"was one of the main items on the agenda.
文摘Sri Lankan President Premodasa was killed by a suicide bomber in a massive blast at a May Day rally. On May 7, Prime Minister Dingiri Banda Wijetunge was elected Sri Lanka’s new executive president by the Parliament.
