In many social science experiments, subjects often interact with each other and as a result one unit's treatment influences the outcome of another unit. Over the last decade, a significant progress ha
In this paper, the initial sample consists of all Chinese A-share listed companies from 2014 to 2022. This time range is chosen primarily to ensure an adequate number of observations for four years be
The recent proposal for tax reform developed by the Department of the Treasury suggests dramatic changes in the structure of the personal income tax. One likely side effect of the changes will be a si
