Working Papers-Peking University HSBC Business School(PHBS)

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This paper studies the causal impact of political connections on innovation Using a unique hand-collected data se

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We investigate the effect of search frictions on labor market sorting by constructing a model which is in line

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There exists a lot of variation in terms of how buyers and sellers meet, both across sectors and over time as

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We assemble new data on the British and French concessions in Shanghai between 1845 and 1936 to assess the lega

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We examine how the supply of talent affected financial development, based on a historical experiment that abruptly

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Depositor responses to a large currency shock vary depending on political views Triggered by a combination of ec

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This study proposes a point estimator of the break location for a one-time structural break in linearregression m

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An option pricing framework is utilized to estimate firms’ market value of assets, which are thenused to co

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The least square Monte Carlo (LSM) algorithm proposed by Longstaff and Schwartz (2001) iswidely used for pricing

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This paper examines the effect of the political network of Chinese municipal leaders on the pricingof municipal c