Investment dynamics and capital distortion: State and non-state firms in China

L Tang - Journal of Asian Economics, 2021 - Elsevier
This paper studies investment dynamics in Chinese manufacturing firms. The analysis
estimates capital adjustment costs and uncovers capital distortion in state and non-state …

Capital misallocation in Chinese industrial firms

L Tang, J Zhang, JH Shen - Scottish Journal of Political …, 2024 - Wiley Online Library
This paper investigates the impact of volatility in profitability shock, capital price distortion
and adjustment costs on capital misallocation among Chinese industrial firms. We estimate …

Volatility, Adjustment Cost and Capital Misallocation: Evidence from Chinese Industrial Firms

S Tang, J Zhang, JH Shen - Available at SSRN 3739974, 2021 - papers.ssrn.com
This paper investigates the impact of volatility in profitability shock and capital adjustment
cost on aggregate total factor productivity (TFP) in Chinese industries firms. To quantify the …