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  • Generalist CEOs and Credit Ratings

    Editor’s note: Zhiming Ma is an associate professor from Guanghua School of Management, Peking University. In this study, Ma and his co-authors examine whether credit rating agencies consider a CEO’s attributes when evaluating an entity’s overall creditworthiness and its ability to satisfy financial obligations. They conduct several tests and their findings suggest that CEOs’ general skills are a significant factor in the credit rating evaluation process and have incremental power to predict firms’ credit risk over firm fundamentals and other CEO attributes. This paper was published in Contemporary Accounting Research.

    Jan 12, 2023

  • The Economics of IT and Digitization: Eight Questions for Research

    Editor’s Note: This essay, conducted by Chong(Alex)Wang, Professor of Guanghua School of Management, Peking University, and his collaborators, is meant to be urged IT researchers to expand economics of IT research’s boundary to make it a reference discipline for other fields. New and innovative research projects must push beyond the boundaries that restrict questions and methods. We must focus on novel and interesting research questions, adopt correct and useful methods, and achieve important and impactful research outcomes. The following summary is excerpted from the paper The Economics of IT and Digitization: Eight Questions for Research, which was published in MIS Quarterly Vol. 45.

    Jan 9, 2023

  • Leader Perfectionism—Friend or Foe of Employee Creativity?

    Editor’s Note: Given the fierce competition in today’s business environment, leaders, especially those in rapidly evolving industries, often exhibit a perfectionistic tendency toward their employees to foster their creativity. However, whether leader perfectionism can boost or undermine employees’ creativity is inconclusive. So, why can leader perfectionism affect employees’ creativity? To whom and to what degree can the perfectionistic tendency of leaders affect the creativity of their subordinates? In order to examine these questions, Zhi Liu and Yuntao Dong, associate professors in the Department of Organization and Strategy Management at Guanghua School of Management, Peking University, and their collaborators have conducted a research. The research paper,Leader Perfectionism—Friend or Foe of Employee Creativity? Locus of Control as a Key Contingency, has been published in the Academy of Management Journal. The following summary is excerpted from the paper.

    Jan 6, 2023

  • REITs boost economic growth, revitalize development

    Infrastructure real estate investment trusts (REITs), which have been rolled out in China for more than one year, have been receiving increasing attention from mature investors and local governments, facilitating the country's high-quality economic growth, said officials and experts.

    Nov 30, 2022

  • Higher limit for overseas debt to stabilize yuan

    The latest policy adjustment made by the People's Bank of China and the State Administration of Foreign Exchange allows Chinese companies to borrow more from overseas. Tang Yao, an associate professor of applied economics at Guanghua School of Management, Peking University, told to ChinaDaily this move can help stabilize expectations in the foreign exchange market. Nevertheless, economic fundamentals function as the ultimate determinants of exchange rates, thus it is necessary to revitalize consumption activity and private investment to promote a sustained economic recovery.

    Nov 30, 2022

  • Jing Xu: Beauty, Confidence, and the Certainty of Consumer Preferences

    Beautiful appearance has always been seen as a competitive advantage for individuals. In recent years, a boom in the so-called “beauty economy” has given rise to industries such as cosmetic surgery and beauty products, as well as photo retouching apps. This trend reflects the ever-increasing anxiety people have about their appearance and the reward they believe that beauty can bring.

    Oct 27, 2022

  • Liu Qiao: China needs a broader carbon trading system and policies encouraging productive emission reductions

    Formulating an effective carbon pricing mechanism and prioritizing the most economical areas for emissions cuts are integral to realizing China’s two carbon emission goals, said a Chinese economist.

    Oct 24, 2022

  • Liu Qiao: 'Dual circulation' strategy is not closed economy

    On Sunday, President Xi Jinping delivered a report at the 20th National Congress of the Communist Party of China (CPC) held in Beijing. In a nearly two-hour address, Xi called for the rejuvenation of the Chinese nation on all fronts "through a Chinese path to modernization and accelerating creation of the ‘dual circulation’ development pattern.”

    Oct 21, 2022

  • Yu-Jane Liu: Beyond Investment Misconceptions, Be a Wise Investor

    Yu-Jane Liu has published the book Mistakes you could have avoided: Investing Lessons from Behavioral Finance, which summarizes the various investment biases that investors may make from behavioral finance and behavioral decision theory. She said at the Forum on Inclusive Growth in the New Development Stage, that there are many ways to educate investors, but to better transform and improve investment behavior, there is a need to better understand the motivations of investors.

    Jul 27, 2022

  • Weng Xi:Common prosperity needs to be implemented into concrete and enforceable policies

    Editor’s note:At the 10th meeting of the Central Finance and Economics Commission, common prosperity was included in the second century goal. Speaking at the Forum on Inclusive Growth in the New Development Stage, Weng Xi, the professor at Guanghua School of Management, Peking University, said achieving common prosperity requires a deep understanding of its sustainability, ambiguity, and compl...

    Jul 26, 2022

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