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Evaluating The Conditions For China’S 4th Industrial Revolution Plan: A Neo-Schumpeterian Analysis, Hing Lee Henry Chan
Evaluating The Conditions For China’S 4th Industrial Revolution Plan: A Neo-Schumpeterian Analysis, Hing Lee Henry Chan
Dissertations and Theses Collection
After 33 years (1979-2011) of close to double digit average annual economic growth, the Chinese economy decelerated to a mid-high single digit growth of approximately 7% per year since 2012. The country is currently facing the typical economic transition challenge of moving from being a high-middle income to high income economy. In response to this economic transition, the government launched an industrial innovation program that corresponds to the 4th Industrial Revolution in 2015-Made in China 2025, hoping to stabilize and rejuvenate China’s growth momentum through innovation. This thesis examines the pre-conditions for the successful implementation of this plan using the …
On Refined And Robust Inferences For Spatial Econometric Models, Shew Fan Liu
On Refined And Robust Inferences For Spatial Econometric Models, Shew Fan Liu
Dissertations and Theses Collection (Open Access)
Asymptotically refined and heteroskedasticity robust inferences are considered for spatial linear and panel regression models, based on the quasi maximum likelihood (QML) or the adjusted concentrated quasi score (ACQS) approaches. Refined inferences are achieved through bias correcting the QML estimators, bias correcting the t-ratios for covariate effects, and improving tests for spatial effects; heteroskedasticity-robust inferences are achieved through adjusting the quasi score functions. Several popular spatial linear and panel regression models are considered including the linear regression models with either spatial error dependence (SED), or spatial lag dependence (SLD), or both SED and SLD (SARAR), the linear regression models with …
Three Essays On Random Mechanism Design, Huaxia Zeng
Three Essays On Random Mechanism Design, Huaxia Zeng
Dissertations and Theses Collection (Open Access)
This dissertation studies a standard voting formulation with randomization. Formally, there is a finite set of voters, a finite set of alternatives and a lottery space over the alternative set. Each voter has a strict preference over alternatives. The domain of preferences contains all admissible preferences. Every voter reports a preference in the domain; a preference profile is generated; and the social lottery then is determined by a Random Social Choice Function (or RSCF). This dissertation focuses on RSCFs which provide every voter incentives to truthfully reveal her preference, and hence follows the formulation of strategyproofness in [26] which requires …
Ipo Performance And Trading Around Lock-Up Expiration, Yuchen Wang
Ipo Performance And Trading Around Lock-Up Expiration, Yuchen Wang
Dissertations and Theses Collection (Open Access)
During the lock-up period, company insiders are prohibited from selling their shares for a set period immediately after initial public offerings (IPOs), usually 180 days. This strict prohibition limits the borrowing of securities by short sellers within this period. Therefore, upon reaching the lock-up expiry date, the short-sale constraint may be loosened and new investors may rush into the stock market, which affects asset price and stock return. This thesis focuses on the IPOs’ performance during the lock-up period and the reasons for the unusual performance. The first section commences by questioning the role of the short seller and its …