Faculty & Research
Though China has secured a strong rebound in the first half of 2021, signs of downward pressure indicates a need to readjust its economic strategies to maintain strong and healthy growth. In an article published by China Daily, Prof. Liu Qiao and Associate Prof. Yan Se from Guanghua School of Management, Peking University, offer their insights on China’s economic outlook.
Jan 11, 2022
The victory of EDG in World Championship Series has attracted considerable amount of attention to the game, League of Legends. In the meantime, League of Legends achieved blockbuster success by releasing an animation TV show, “Arcane: League of Legends”, based on the game content of League of Legends. This TV show has been considered probably the most successful animated TV series and scored 9.1 on Douban and 9.4 on IMDb. While the vitality of League of Legends lies in continuous innovation, so do risks. . In this regard, Pengxiang Zhang, assistant professor in the Department of Organization and Strategy Management at Guanghua School of Management, Peking University, along with his co-authors, Liang Chen, Sali Li, Scott Turner, have worked on revealing the hidden risks of generational product innovation (GPI). Hopefully, the insights could be helpful for practitioners who are interested in digital innovation.
Dec 15, 2021
The information released after the Central Economic Work Conference lays the road map for addressing short-term economic issues and challenges, while keeping a firm eye on the country's key long-term goals. Professor Tang Yao published an article in China Daily, summarizing the highlights of the conference and the subsequent communique. Far-reaching reforms were rolled out at the conference, and it called on all levels of governments to coordinate their efforts, so as to stabilize growth in 2022. The communique contains a point-by-point discussion of how long-term principles and short-term adjustments should be balanced in seven key policy areas.
Dec 15, 2021
Wang Cong, an assistant professor from the Department of Management Science and Information Systems, Guanghua School of Management, Peking University and her co-authors have proposed a recommendation system design to remove bias.
Nov 30, 2021
The expectation of future outcomes is a key input for our decision-making. In recent years, thanks to the work by leading scholars such as Andrei Shleifer, Stefan Nagel, David Thesmar and Ulrike Malmendier, we've learned a great deal about how our diagnostic heuristic, extrapolation, fading memory, and life experiences shape our subjective expectations.In asset pricing, the traditional paradig...
Nov 10, 2021
Recently, the paper “Capital Spillover, House Prices, and Consumer Spending: Quasi-Experimental Evidence from House Purchase Restrictions”, written by Professor Yu Zhang of Guanghua School of Management and co-authors, was accepted by the Review of Financial Studies, a leading journal in finance. The paper provides the first quasi-natural experimental evidence of the impact of rising house prices on consumer spending from the perspective of capital flight.
Nov 8, 2021
Before the abolition of Keju, local elites collected surtaxes that financed local public goods, but they were supervised by the state and could lose their candidacy for higher status if they engaged in corrupt behavior. This prospect of upward mobility (POUM) gave them incentives to behave well, which the abolition of the exam removed. Using a difference-in-differences strategy, Professors Weng Xi and Zhou Li-An and their coauthors from Peking University and University of Hong Kong find that prefectures with a higher POUM before the abolition experienced more incidents of anti-elite protests after the abolition. Forthcoming in The Journal of Economic History，a top journal in the field of economic history，this paper investigates the impact of the abolition of the civil service exam on rural local governance in early 20th century China.
Oct 25, 2021
"Intensified cost pressure has made it increasingly more urgent to ramp up policy support to safeguard the stable operation of hard-hit, smaller businesses," said Tang Yao, an associate professor of economics at Peking University's Guanghua School of Management.
Oct 18, 2021
At the 75th session of the United Nations General Assembly, President Xi pledged that China will make every effort to peak its carbonemissions before 2030 and achieve carbonneutrality before 2060. Recently, dean Liu Qiao noted in China Daily that to achieve this goal, China must focus on digitaltransformation, of which the high cost will create significant investment opportunities. These opportunities will contribute to the short-term development of the Chinese economy and the long-term development of China's overall socioeconomic development. Both macro policies of the government and support from micro market subjects are essential to carbon neutrality.
Oct 11, 2021
In a recent paper forthcoming at RAND Journal of Economics, Professors Xi Weng and Li-An Zhou and their coauthors exploit the staggered entry of two dockless bike-sharing firms to study whether the entrant expands or steals the market from the incumbent firm. Compared with the cities without entry, the entry helps the incumbent to serve more trips, make more bike investment, achieve higher revenue per trip, improve bike utilization, and form a wider and more dispersed network. The market-expanding effect on new users dominates a significant market-stealing effect on old users. These findings, plus a theory that highlights consumer search and network effects, suggest that a market with positive network effects and multi-homing users is not necessarily winner-takes-all.
Sep 28, 2021