Pub Date : 2025-12-23DOI: 10.1016/j.chieco.2025.102645
Wenkai Sun , Wenjing Wang , Siyuan Tang , Zhong Zhao
As an important means for firms' burden-lightening and market stimulation, tax reduction is especially crucial for small and medium-sized enterprises (SMEs). This paper examines the wage effects of firm-level tax reduction. Firms' effective tax burden reduction enhanced firm-level surplus as their profitability improved and financial constraints loosened, leading to employees' wages rising, and those having stronger bargaining power benefit more from tax reductions. The difference in substitution costs give high-income employees and employees in management and technical positions stronger bargaining power than others. Therefore, the impact of tax reduction on wages has a Matthew effect and tends to exacerbate inequalities within a firm.
{"title":"Tax reduction, wage bargaining, and income equality: Evidence from China's SMEs","authors":"Wenkai Sun , Wenjing Wang , Siyuan Tang , Zhong Zhao","doi":"10.1016/j.chieco.2025.102645","DOIUrl":"10.1016/j.chieco.2025.102645","url":null,"abstract":"<div><div>As an important means for firms' burden-lightening and market stimulation, tax reduction is especially crucial for small and medium-sized enterprises (SMEs). This paper examines the wage effects of firm-level tax reduction. Firms' effective tax burden reduction enhanced firm-level surplus as their profitability improved and financial constraints loosened, leading to employees' wages rising, and those having stronger bargaining power benefit more from tax reductions. The difference in substitution costs give high-income employees and employees in management and technical positions stronger bargaining power than others. Therefore, the impact of tax reduction on wages has a Matthew effect and tends to exacerbate inequalities within a firm.</div></div>","PeriodicalId":48285,"journal":{"name":"中国经济评论","volume":"95 ","pages":"Article 102645"},"PeriodicalIF":5.5,"publicationDate":"2025-12-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145839895","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-12-22DOI: 10.1016/j.chieco.2025.102644
Jiali Tang , Duo Xu , Hongqiao Fu
While the “death of distance” hypothesis predicts diminishing geographic frictions, offline connectivity continues to shape online transactions, as seen in e-commerce and online healthcare. This study exploits China's High-Speed Rail (HSR) introduction as a natural experiment to identify how improved physical accessibility affects the demand for online medical consultations. Using approximately 18 million consultation records from a major Chinese online healthcare platform and a difference-in-differences (DID) design, we find that the HSR introduction increases online consultation volume by 12.09 %. The effect is driven predominantly by cross-city consultations directed to online doctors based in provincial capitals and top medical hubs (e.g., Beijing, Shanghai, and Guangzhou). The impact is particularly pronounced among younger patients, residents in the western region, and medical departments who are more likely to require subsequent in-person hospital visits. Our mechanism analysis shows that the HSR introduction stimulates offline appointment bookings via the platform, especially cross-city appointments and those following online medical consultations. This pattern is consistent with online-offline complementarity, whereby lower expected travel costs for in-person follow-ups encourage patients to initiate online medical consultations. These findings suggest that an integrated online-offline healthcare approach may be more effective than internet-centered solutions in addressing healthcare accessibility and inequality issues.
{"title":"Does high-speed rail development impact online healthcare demand? Evidence from a large medical platform in China","authors":"Jiali Tang , Duo Xu , Hongqiao Fu","doi":"10.1016/j.chieco.2025.102644","DOIUrl":"10.1016/j.chieco.2025.102644","url":null,"abstract":"<div><div>While the “death of distance” hypothesis predicts diminishing geographic frictions, offline connectivity continues to shape online transactions, as seen in e-commerce and online healthcare. This study exploits China's High-Speed Rail (HSR) introduction as a natural experiment to identify how improved physical accessibility affects the demand for online medical consultations. Using approximately 18 million consultation records from a major Chinese online healthcare platform and a difference-in-differences (DID) design, we find that the HSR introduction increases online consultation volume by 12.09 %. The effect is driven predominantly by cross-city consultations directed to online doctors based in provincial capitals and top medical hubs (e.g., Beijing, Shanghai, and Guangzhou). The impact is particularly pronounced among younger patients, residents in the western region, and medical departments who are more likely to require subsequent in-person hospital visits. Our mechanism analysis shows that the HSR introduction stimulates offline appointment bookings via the platform, especially cross-city appointments and those following online medical consultations. This pattern is consistent with online-offline complementarity, whereby lower expected travel costs for in-person follow-ups encourage patients to initiate online medical consultations. These findings suggest that an integrated online-offline healthcare approach may be more effective than internet-centered solutions in addressing healthcare accessibility and inequality issues.</div></div>","PeriodicalId":48285,"journal":{"name":"中国经济评论","volume":"95 ","pages":"Article 102644"},"PeriodicalIF":5.5,"publicationDate":"2025-12-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145839894","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-12-22DOI: 10.1016/j.chieco.2025.102641
Chunfeng Zhang , Xiaoyan Lei , Yutong Chen
Separated supply of medical and elderly care in China have been worrying issues especially in the aging era as medical needs and elderly care needs often interplay with each other among aged people. Utilizing panel data from CLHLS and a difference-in-differences identification strategy, this article examines China's 2016 nationwide pilot on integration of medical care and elderly care (IMEC) at city level. Results reveal that medical and elderly care integration significantly decreases one-year mortality of the elderly people. Further mechanism analysis shows that the IMEC policy likely benefits older adults through enhanced health outcomes, and extended delivery of medical care and elderly care. Our study emphasizes the critical importance of the integration of medical and elderly care for addressing the multifaceted needs of the aging population, providing a foundation for informed policy decisions and future interventions.
{"title":"Integration of medical care and elderly care: Chinese experience and outcomes of older adults","authors":"Chunfeng Zhang , Xiaoyan Lei , Yutong Chen","doi":"10.1016/j.chieco.2025.102641","DOIUrl":"10.1016/j.chieco.2025.102641","url":null,"abstract":"<div><div>Separated supply of medical and elderly care in China have been worrying issues especially in the aging era as medical needs and elderly care needs often interplay with each other among aged people. Utilizing panel data from CLHLS and a difference-in-differences identification strategy, this article examines China's 2016 nationwide pilot on integration of medical care and elderly care (IMEC) at city level. Results reveal that medical and elderly care integration significantly decreases one-year mortality of the elderly people. Further mechanism analysis shows that the IMEC policy likely benefits older adults through enhanced health outcomes, and extended delivery of medical care and elderly care. Our study emphasizes the critical importance of the integration of medical and elderly care for addressing the multifaceted needs of the aging population, providing a foundation for informed policy decisions and future interventions.</div></div>","PeriodicalId":48285,"journal":{"name":"中国经济评论","volume":"96 ","pages":"Article 102641"},"PeriodicalIF":5.5,"publicationDate":"2025-12-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145904105","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-12-18DOI: 10.1016/j.chieco.2025.102640
Chang Hong Li , Min Qiang Zhao
This paper investigates the spillover effects of fertility policy on employment, a largely unexplored area in the literature. Using China's 2013 selective two-child policy as a quasi-natural experiment and a difference-in-differences approach with census data, we find that the policy significantly increased the employment probability of all women, not just those directly eligible. This employment effect was stronger in regions with a higher proportion of eligible couples. Furthermore, the positive employment impact extended to unmarried women and men. We identify two key mechanisms: (1) an employment spillover, where the policy-induced increase in births spurred net entry of firms in fertility-related sectors, and (2) a fertility spillover, where peer effects appeared to amplify the initial birth shock among the broader population. Our findings demonstrate that fertility policies can have substantial indirect effects on the broader labor market, moving beyond the traditionally studied direct impact on mothers.
{"title":"Spillover effects of fertility on married women's employment: Evidence from China","authors":"Chang Hong Li , Min Qiang Zhao","doi":"10.1016/j.chieco.2025.102640","DOIUrl":"10.1016/j.chieco.2025.102640","url":null,"abstract":"<div><div>This paper investigates the spillover effects of fertility policy on employment, a largely unexplored area in the literature. Using China's 2013 selective two-child policy as a quasi-natural experiment and a difference-in-differences approach with census data, we find that the policy significantly increased the employment probability of all women, not just those directly eligible. This employment effect was stronger in regions with a higher proportion of eligible couples. Furthermore, the positive employment impact extended to unmarried women and men. We identify two key mechanisms: (1) an employment spillover, where the policy-induced increase in births spurred net entry of firms in fertility-related sectors, and (2) a fertility spillover, where peer effects appeared to amplify the initial birth shock among the broader population. Our findings demonstrate that fertility policies can have substantial indirect effects on the broader labor market, moving beyond the traditionally studied direct impact on mothers.</div></div>","PeriodicalId":48285,"journal":{"name":"中国经济评论","volume":"95 ","pages":"Article 102640"},"PeriodicalIF":5.5,"publicationDate":"2025-12-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145839892","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Small and medium-sized enterprises (SMEs) are crucial to China's economic development and the lifespan of SMEs matters both for entrepreneurs and policy makers. The Business Registry Database (BRD), China's most comprehensive firm-level administrative dataset, offers unique opportunities for analysis but lacks variables required by the official SME definition. We address this gap by introducing a new classification standard based on registered capital, setting the SME threshold at less than 32 million yuan—the first such approach in the literature. Using this definition, we examine firms registered between 2001 and 2013 and estimate SME's lifespan via the Kaplan–Meier method. Median lifespan is 10.67 years across all SMEs and 5.03 years among exited firms, providing the first large-scale benchmark for China. We then provide a comprehensive analysis of both regional and firm-level determinants of SME exit. Favorable regional environments significantly reduce exit risks, while firm-level characteristics—particularly smaller scale and state ownership—remain key sources of vulnerability. Our findings underscore the importance of both institutional and structural conditions in shaping firm survival. By establishing a workable SME definition for the BRD and identifying key regional and firm-level drivers of exit, this study provides a new empirical basis for research on China's private sector dynamics. Policy implications point to the need for a balanced approach: while market forces can spur competition, regional development policies and institutional support are critical for sustaining SME growth and longevity.
{"title":"The lifespan of small and medium-sized enterprises in China: Stylized facts and influencing factors","authors":"Songrui Liu , Xiaokun Yu , Wenkang Zhang , Zhongwen Zhang","doi":"10.1016/j.chieco.2025.102637","DOIUrl":"10.1016/j.chieco.2025.102637","url":null,"abstract":"<div><div>Small and medium-sized enterprises (SMEs) are crucial to China's economic development and the lifespan of SMEs matters both for entrepreneurs and policy makers. The Business Registry Database (BRD), China's most comprehensive firm-level administrative dataset, offers unique opportunities for analysis but lacks variables required by the official SME definition. We address this gap by introducing a new classification standard based on registered capital, setting the SME threshold at less than 32 million yuan—the first such approach in the literature. Using this definition, we examine firms registered between 2001 and 2013 and estimate SME's lifespan via the Kaplan–Meier method. Median lifespan is 10.67 years across all SMEs and 5.03 years among exited firms, providing the first large-scale benchmark for China. We then provide a comprehensive analysis of both regional and firm-level determinants of SME exit. Favorable regional environments significantly reduce exit risks, while firm-level characteristics—particularly smaller scale and state ownership—remain key sources of vulnerability. Our findings underscore the importance of both institutional and structural conditions in shaping firm survival. By establishing a workable SME definition for the BRD and identifying key regional and firm-level drivers of exit, this study provides a new empirical basis for research on China's private sector dynamics. Policy implications point to the need for a balanced approach: while market forces can spur competition, regional development policies and institutional support are critical for sustaining SME growth and longevity.</div></div>","PeriodicalId":48285,"journal":{"name":"中国经济评论","volume":"95 ","pages":"Article 102637"},"PeriodicalIF":5.5,"publicationDate":"2025-12-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145839896","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-12-08DOI: 10.1016/j.chieco.2025.102635
Weidi Chai , Chunyu Zhang , Yongmei Cui , Xiaohong Ma
In 2024, China's Company Law reinstated stricter paid-in capital rules, reversing the 2013 shift to a subscribed capital system. This study investigates the real economic consequences of the 2013 subscribed capital system on corporate creditors in China. Using a comprehensive panel dataset of A-share-listed firms from 2010 to 2023 and a difference-in-differences (DID) empirical strategy, we find robust evidence that the subscribed capital system significantly weakens creditors' interests. We identify three key channels: weakened creditor protection, deteriorated corporate governance, and distorted capital allocation. The adverse effects are more pronounced in non-state-owned firms, short-term-oriented management, firms with weak banking relationships, and enterprises located in regions with higher government intervention and lower levels of informatization. Furthermore, we provide novel empirical evidence that the subscribed capital system exacerbates over-indebtedness and impairs innovation output, suggesting broader implications for economic dynamism and financial stability.
{"title":"The dark side of capital flexibility: Subscribed capital system reform and creditor interests in China","authors":"Weidi Chai , Chunyu Zhang , Yongmei Cui , Xiaohong Ma","doi":"10.1016/j.chieco.2025.102635","DOIUrl":"10.1016/j.chieco.2025.102635","url":null,"abstract":"<div><div>In 2024, China's Company Law reinstated stricter paid-in capital rules, reversing the 2013 shift to a subscribed capital system. This study investigates the real economic consequences of the 2013 subscribed capital system on corporate creditors in China. Using a comprehensive panel dataset of A-share-listed firms from 2010 to 2023 and a difference-in-differences (DID) empirical strategy, we find robust evidence that the subscribed capital system significantly weakens creditors' interests. We identify three key channels: weakened creditor protection, deteriorated corporate governance, and distorted capital allocation. The adverse effects are more pronounced in non-state-owned firms, short-term-oriented management, firms with weak banking relationships, and enterprises located in regions with higher government intervention and lower levels of informatization. Furthermore, we provide novel empirical evidence that the subscribed capital system exacerbates over-indebtedness and impairs innovation output, suggesting broader implications for economic dynamism and financial stability.</div></div>","PeriodicalId":48285,"journal":{"name":"中国经济评论","volume":"95 ","pages":"Article 102635"},"PeriodicalIF":5.5,"publicationDate":"2025-12-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145790248","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-12-07DOI: 10.1016/j.chieco.2025.102634
Fei Guo , Lei Xu , Bin Li , Jiawei Sun , Zixuan Dai
Space competition has been escalating in recent decades. The 2015 commercialization of Chinese space sector provides a quasi-natural experiment. We establish a positive link between commercialization and capital structure adjustment speed of space firms, especially when their capital structures are below target levels. Such a link is more pronounced among non-state-owned enterprises (non-SOEs), firms in regions of stronger intellectual property protection or better financial inclusion. Improved access to financial resources at lower cost, public scrutiny, and internal motivation underlie the impact. Furthermore, space commercialization enhances firms' innovation performance and total factor productivity (TFP) by accelerating their capital structure adjustment, thereby promoting the development of the real economy. This study may enrich discussion over commercialization of the space sector and effectiveness of China's market economy.
{"title":"Action beyond the sky high: Capital structure adjustment speed of Chinese space firms","authors":"Fei Guo , Lei Xu , Bin Li , Jiawei Sun , Zixuan Dai","doi":"10.1016/j.chieco.2025.102634","DOIUrl":"10.1016/j.chieco.2025.102634","url":null,"abstract":"<div><div>Space competition has been escalating in recent decades. The 2015 commercialization of Chinese space sector provides a quasi-natural experiment. We establish a positive link between commercialization and capital structure adjustment speed of space firms, especially when their capital structures are below target levels. Such a link is more pronounced among non-state-owned enterprises (non-SOEs), firms in regions of stronger intellectual property protection or better financial inclusion. Improved access to financial resources at lower cost, public scrutiny, and internal motivation underlie the impact. Furthermore, space commercialization enhances firms' innovation performance and total factor productivity (TFP) by accelerating their capital structure adjustment, thereby promoting the development of the real economy. This study may enrich discussion over commercialization of the space sector and effectiveness of China's market economy.</div></div>","PeriodicalId":48285,"journal":{"name":"中国经济评论","volume":"95 ","pages":"Article 102634"},"PeriodicalIF":5.5,"publicationDate":"2025-12-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145737286","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-12-07DOI: 10.1016/j.chieco.2025.102633
Dezhuang Hu , Tang Li
This study examines the determinants of mental health among impoverished individuals through the lens of China's Targeted Poverty Alleviation (TPA) policy, a government-led, nationwide, precisely targeted, multifaceted anti-poverty initiative. By employing a methodology of difference-in-differences and utilizing nationally representative data from the China Family Panel Studies, we find that the TPA policy significantly improves mental health among targeted populations. The results remain robust across various robustness checks, underscoring the reliability of our estimates. Heterogeneous analysis indicates that the effects of the TPA policy are particularly substantial for more vulnerable groups, including women, younger individuals, those with lower education levels, and those living in rural regions. Increased labor force participation, augmented household income and expenditure, improved access to healthcare and education, narrowed income disparities, promoted social mobility, and enhanced confidence and trust are found to be the underlying mechanisms. A back-of-the-envelope cost–benefit analysis indicates that the TPA's return on investment from mental health improvements alone is about 5.76 RMB gained per 1 RMB.
{"title":"Targeting mental wellness: Does China's multifaceted poverty alleviation policy bear fruit?","authors":"Dezhuang Hu , Tang Li","doi":"10.1016/j.chieco.2025.102633","DOIUrl":"10.1016/j.chieco.2025.102633","url":null,"abstract":"<div><div>This study examines the determinants of mental health among impoverished individuals through the lens of China's Targeted Poverty Alleviation (TPA) policy, a government-led, nationwide, precisely targeted, multifaceted anti-poverty initiative. By employing a methodology of difference-in-differences and utilizing nationally representative data from the China Family Panel Studies, we find that the TPA policy significantly improves mental health among targeted populations. The results remain robust across various robustness checks, underscoring the reliability of our estimates. Heterogeneous analysis indicates that the effects of the TPA policy are particularly substantial for more vulnerable groups, including women, younger individuals, those with lower education levels, and those living in rural regions. Increased labor force participation, augmented household income and expenditure, improved access to healthcare and education, narrowed income disparities, promoted social mobility, and enhanced confidence and trust are found to be the underlying mechanisms. A back-of-the-envelope cost–benefit analysis indicates that the TPA's return on investment from mental health improvements alone is about 5.76 RMB gained per 1 RMB.</div></div>","PeriodicalId":48285,"journal":{"name":"中国经济评论","volume":"95 ","pages":"Article 102633"},"PeriodicalIF":5.5,"publicationDate":"2025-12-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145737285","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-12-06DOI: 10.1016/j.chieco.2025.102636
Zijun Cheng , Jiayin Hu , Michael Beichen Huang , Shijie Zhao
We construct a comprehensive bankruptcy database of Chinese firms using a novel data source of judgment files. Concomitant with a new theoretical framework that explicitly differentiates between bankruptcy resolution and other debt enforcement proceedings, we show that improved bankruptcy efficiency benefits long-term creditors by mitigating dilution risks. Empirically, the long-term debt ratio of Chinese firms increases by 16% after the establishment of bankruptcy tribunals. Mechanism tests confirm an increase in bankruptcy filings, a reduction in other debt enforcement proceedings, a higher ratio of asset preservation, and an increased supply of long-term credit from local banks. These shifts in debt maturity structure are associated with enhanced firm investment and increased labor demand. We shed new light on bankruptcy resolution as a previously underappreciated institutional channel through which legal frameworks influence creditor coordination and debt maturity structure.
{"title":"Bankruptcy resolution and corporate debt maturity","authors":"Zijun Cheng , Jiayin Hu , Michael Beichen Huang , Shijie Zhao","doi":"10.1016/j.chieco.2025.102636","DOIUrl":"10.1016/j.chieco.2025.102636","url":null,"abstract":"<div><div>We construct a comprehensive bankruptcy database of Chinese firms using a novel data source of judgment files. Concomitant with a new theoretical framework that explicitly differentiates between bankruptcy resolution and other debt enforcement proceedings, we show that improved bankruptcy efficiency benefits long-term creditors by mitigating dilution risks. Empirically, the long-term debt ratio of Chinese firms increases by 16% after the establishment of bankruptcy tribunals. Mechanism tests confirm an increase in bankruptcy filings, a reduction in other debt enforcement proceedings, a higher ratio of asset preservation, and an increased supply of long-term credit from local banks. These shifts in debt maturity structure are associated with enhanced firm investment and increased labor demand. We shed new light on bankruptcy resolution as a previously underappreciated institutional channel through which legal frameworks influence creditor coordination and debt maturity structure.</div></div>","PeriodicalId":48285,"journal":{"name":"中国经济评论","volume":"95 ","pages":"Article 102636"},"PeriodicalIF":5.5,"publicationDate":"2025-12-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145790247","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2025-12-04DOI: 10.1016/j.chieco.2025.102597
Jingyuan Qiao , Kai Wu , Donghui Li
This study examines the impact of judicial fairness perception on corporate innovation among small and medium-sized enterprises (SMEs) in China, utilizing data from the 2018 Enterprise Survey for Innovation and Entrepreneurship (ESIEC). Our findings reveal a robust positive relationship between higher levels of judicial fairness perception and increased innovation activities within SMEs. Notably, this effect is more pronounced in enterprises led by less-educated entrepreneurs, located in regions with weaker intellectual property protection, or with lower reliance on government support. We identify improved contract enforcement, enhanced policy effectiveness, and increased innovation investment as key mechanisms driving this relationship. These results suggest that judicial reforms to increase fairness can significantly foster innovation, particularly in resource-constrained SMEs in emerging economies.
{"title":"Judicial fairness perception and corporate innovation: Evidence from entrepreneur survey in China","authors":"Jingyuan Qiao , Kai Wu , Donghui Li","doi":"10.1016/j.chieco.2025.102597","DOIUrl":"10.1016/j.chieco.2025.102597","url":null,"abstract":"<div><div>This study examines the impact of judicial fairness perception on corporate innovation among small and medium-sized enterprises (SMEs) in China, utilizing data from the 2018 Enterprise Survey for Innovation and Entrepreneurship (ESIEC). Our findings reveal a robust positive relationship between higher levels of judicial fairness perception and increased innovation activities within SMEs. Notably, this effect is more pronounced in enterprises led by less-educated entrepreneurs, located in regions with weaker intellectual property protection, or with lower reliance on government support. We identify improved contract enforcement, enhanced policy effectiveness, and increased innovation investment as key mechanisms driving this relationship. These results suggest that judicial reforms to increase fairness can significantly foster innovation, particularly in resource-constrained SMEs in emerging economies.</div></div>","PeriodicalId":48285,"journal":{"name":"中国经济评论","volume":"95 ","pages":"Article 102597"},"PeriodicalIF":5.5,"publicationDate":"2025-12-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145685441","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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