CHINESE ECONOMISTS SOCIETY 2019 CHINA ANNUAL CONFERENCE & 5th ANNUAL DUFE XINGHAI FORUM

June 8-9, 2019

Co-Organizers The Chinese Economists Society (CES) Dongbei University of Finance and Economics (DUFE)

Co-Sponsors Institute for Advanced Economic Research, DUFE School of Economics, DUFE Gregory and Paula Chow Foundation

CONFERENCE SCHEDULE

Registration Registration opens on Friday, June 7, 2019 at 14:00-19:00 at the following six hotels, and will stay open throughout the conference on site. • Dalian Bayshore Hotel, C1-32 Xinghai Square, Dalian • Hi-Chance (Dalian) Science & Technology Center, 507 Huangpu Road, Dalian • Soluxe Heyi Hotel Dalian, 710 Huangpu Road, Dalian • Ji Hotel (Dalian Xinghai Park), 241 Jianshan Street, Dalian • Yitel Trend Hotel (Dalian High-Tech Park), 199 Huangpu Road, Dalian • DUFE Hotel, 217 Jianshan Street, Dalian

Conference Venue: Lecture Hall and Boxue Building, DUFE

Saturday, June 8, 2019

09:00-09:20 Opening Ceremony Lecture Hall Chair: Dr. Weiguo WANG, Vice President of Dongbei University of Finance and Economics, Vice President of CES Welcome Speech I: Dr. Wei LYU, President of Dongbei University of Finance and Economics Welcome Speech II: Dr. Zongwu CAI, University of Kansas, President of CES

09:20-10:10 Plenary Keynote Lecture: Robert ENGLE Lecture Hall ―Financial Volatility and Geopolitical Risk‖ Chair: Dr. Dr. Zongwu CAI, University of Kansas (President of CES)

10:10-10:40 Group Photo

10:40-11:10 Coffee Break Boxue Building

- 1 - 11:10-11:50 Keynote Lecture I: Tongsan WANG Boxue 110 ―Mathematical Economics in China‖ Chair: Dr. Zhuo CHEN, University of Nottingham

11:10-11:50 Keynote Lecture II: Whitney NEWEY Boxue 210 ―Demand Analysis with Many Prices‖ Chair: Dr. Ying FANG, Xiamen University

11:50-14:00 Lunch-DUFE Cafeteria

14:00-14:40 Keynote Lecture III: James HAMILTON Boxue 110 ―Measuring Labor-Force Participation and the Incidence and Duration of Unemployment‖ Chair: Dr. Shawn NI, University of Missouri

Keynote Lecture IV: Shusong BA Boxue 210 ―Hong Kong’s Market Innovations to Support New Economy Financing‖ Chair: Dr. Weiguo Wang, Dongbei University of Finance and Economics

14:40-16:10 Parallel Sessions A1: Labor Economics: Migration Boxue 212 A2: Labor Economics: Household Behavior and Decision Boxue 213 A3: Health Economics: Health Outcomes (I) Boxue 214 A4: Development Economics: Income Distribution Boxue 219

A5: International Economics: International Trade Boxue 223 A6: Environmental Economics: Air Quality Boxue 303 A7: Environmental Economics: Environmental Decentralization Boxue 305 A8: Rural Economics (I) Boxue 307 A9: Agricultural Economics (I) Boxue 310 A10: Political Economy (I) Boxue 311 A11: Belt and Road (I) Boxue 313

- 2 - A12: Econometrics (I) Boxue 317 A13: Microeconomics (I) Boxue 319 A14: Finance: Financial Market (I) Boxue 321 A15: China’s Economy Boxue 403 A16: Organized Session: Urban Housing Market Boxue 405 A17: Organized Session: Nutrition and Childhood Development in China Boxue 407

16:10-16:40 Coffee Break

16:40-18:10 Parallel Sessions B1: Labor Economics: Labor Supply (I) Boxue 212 B2: Labor Economics: Human Capital Boxue 213 B3: Health Economics: Health Outcomes (II) Boxue 214 B4: Development Economics: Innovation Boxue 219 B5: Development Economics: Effects of Aid and Education Boxue 223 B6: International Economics Boxue 303 B7: Environmental Economics: Regulation and Productivity Boxue 305 B8: Agricultural Economics (II) Boxue 307 B9: Belt and Road (II) Boxue 310 B10: Econometrics (II) Boxue 311 B11: Microeconomics (II) Boxue 313 B12: Industrial Economics (I) Boxue 317 B13: Finance: Credit Risk Management Boxue 319 B14: Finance Boxue 321 B15: China’s Trade Boxue 403 B16: Organized Session: Transportation, Innovation, and Migration in Cities Boxue 405 B17: Organized Session: Reflection of China’s Rural Development Strategy Boxue 407

18:10- Dinner

- 3 - Sunday, June 9, 2019

08:00-08:40 Keynote Lecture V: Eric GHYSELS Boxue 110 ―Artificial Intelligence Alter Egos: Who Benefits from Robo-Investing?‖ Chair: Dr. Jianbo ZHANG, University of Kansas

Keynote Lecture VI: Shouyang WANG Boxue 210 ―Interval Economic Models with Applications‖ Chair: Dr. Yingfei QI, Dongbei University of Finance and Economics

08:45-10:15 Parallel Sessions C1: Labor Economics: Education (I) Boxue 212

C2: Labor Economics: Labor Supply (II) Boxue 213 C3: Labor Economics: Wage Efficiency and Productivity Boxue 214 C4: Agricultural Economics (III) Boxue 219 C5: Development Economics: Productivity Boxue 223 C6: International Economics: Exchange Rate (I) Boxue 303 C7: International Economics: International Trade & Business Boxue 305

C8: Environmental Economics: Market Mechanism Boxue 307

C9: Rural Economics (II) Boxue 310 C10: Urban Economics Boxue 311 C11: Regional Economics Boxue 313 C12: Belt and Road (III) Boxue 317 C13: Industrial Economics (II) Boxue 319 C14: Macroeconomics (I) Boxue 321 C15: Finance: Financial Market (II) Boxue 403 C16: Finance: Corporate Finance Boxue 405 C17: Organized Session: Land Rental Market Boxue 407

10:15-10:45 Coffee break

- 4 - 10:45-12:15 Parallel Sessions D1: Labor Economics: Children’s Academic Performance

Boxue 212 D2: Labor Economics: Education (II) Boxue 213

D3: Health Economics: Patients’ and Hospitals’ Behavior Boxue 214

D4: International Economics: Exchange Rate (II) Boxue 219

D5: Environmental Economics: Governance Boxue 223

D6: Public Economics Boxue 303

D7: Agricultural Economics (IV) Boxue 305

D8: Experimental Economics Boxue 307 D9: Political Economy (II) Boxue 310 D10: Macroeconomics (II) Boxue 311 D11: Finance: Investors’ Behavior Boxue 313 D12: Finance: Asset Pricing Boxue 317 D13: Organized Session: Econometrics and Statistics Boxue 319 D14: Organized Session: Demand and Supply of Food Safety and

Quality Boxue 321 D15: Organized Session: Environmental Economics and Policy Uncertainty Boxue 403 D16: Organized Session: City Sizes and Urban Development

Boxue 405

D17: Organized Session: Energy Market, Technology Innovation and Economy Decarbonization Boxue 407

10:45-12:15 Information Session: Policies of IAER, DUFE Boxue I-206

12:15-14:00 Lunch – DUFE Cafeteria

- 5 - 14:00-14:40 Keynote Lecture VII: Jikun HUANG Boxue 110 ―Forty Years of China’s Agricultural Development and Its Implications to the Rural Revitalization‖ Chair: Dr. Rong HU, Dongbei University of Finance and Economics

Keynote Lecture VIII: Per MYKLAND Boxue 210 ―Nonparametric Standard Errors for High Frequency Data‖ Chair: Dr. Junfu ZHANG, Clark University

14:40-15:10 Coffee Break

15:10-16:00 Closing Ceremony Boxue 210 Chair: Dr. Ying FANG, Xiamen University Gregory Chow Best Paper Award Closing Speech I: Dr. Junfu ZHANG, Clark University, President-Elect of CES Closing Speech II: Dr. Jianhua ZHANG, Huazhong University of Science and Technology

- 6 - CONFERENCE PROGRAM

Saturday, June 8, 2019 (14:40-16:10) (Author’s name in bold indicates person presenting paper)

A1: Labor Economics: Migration Boxue 212 Chair: Tonglong ZHANG (South China Agricultural University) The Subjective Well-Being of Internal Migrants: Lessons from China Jiajing SUN (University of Chinese Academy of Sciences), Xi WANG, and Michael COLE The Reexamination of the Quantity and Quality Theory Tonglong ZHANG (South China Agricultural University) Revisit the Role of Remittances: Can Remittances Solve Migration Caused Problems? Yuqing HE (Xiamen University), and Huang CHEN The Impact of Parents’ Migration on Children’s Mental Health: An Empirical Analysis Based on Panel Data Tiantian DIAO (Agricultural University of China)

A2: Labor Economics: Household Behavior and Decision Boxue 213 Chair: Jie CHEN (Nanjing University of Finance & Economics) The Gender of Children and Household Asset Allocation: Evidence from China Yun ZHOU (Zhejiang University), Menghua LI, and Longbao WEI How Lineage Structure Affect Social Network Formation Through Public Good Donation in Rural China Tong ZHANG (South China Agricultural University), Huiting LIU, and Yu WU Risky Assets Holdings and Household Education Expenditure: Evidence from China Chen WENG (Nanjing University of Finance and Economics), and Qianqian SHAO Intergenerational Income Mobility and Social Stratification in China: Comparative Analysis Based on Different Cohorts Jie CHEN (Nanjing University of Finance & Economics), Yanli WEI, and Carl LIN

- 7 - A3: Health Economics: Health Outcomes (I) Boxue 214 Chair: Yanjun REN (Leibniz Institute of Agricultural Development in Transition Economies) The Power of Informal Institution: Clan Culture and Mental Health of the Elderly in Rural China Xiaohong LIU (Peking University), and Weidong WANG The Number and Gender of Children and Rural Parents’ Health Menghua LI (Zhejiang University), and Yun ZHOU Parental Migration and Children’s Dietary Diversity in Rural China Yanying YU (Zhejiang University), Chengfang LIU, Kevin CHEN, and Shaoping LI Family Income and Nutrition-related Health: Evidence from Food Consumption in China Yanjun REN (Leibniz Institute of Agricultural Development in Transition Economies), Hui LI, and Xiaobing WANG

A4: Development Economics: Income Distribution Boxue 219 Chair: Samuel JUNG (State University of New York at Cortland) Rising Mean Incomes for Whom? Liang SHAO (Henan University), and Melanie Krause A Financial Kuznets Curve in the Transitional Economy: The Tale of China Mingming JIANG (Shandong University), and Chi-Yang CHU On the Flexibility of Multi-Parametric Lorenz Functions Yifu LI (Henan University), and Frank Liang SHAO Financial Development and Income Inequality: Evidence from a Chinese Datase between 1998 and 2014 Samuel JUNG (State University of New York at Cortland), and Hyungju Edmond CHA

A5: International Economics: International Trade Boxue 223 Chair: Xiaonan SUN (Asian Growth Research Institute) Productivity, Market Penetration and Allocation of Sales Xiaonan Sun (Asian Growth Research Institute), and Zhe CHEN How the Development of Financial Industry Affects the Implementation of PPP

- 8 - Projects in China? – Evidence from the World Bank PPI Database Chunyuan FENG (Renmin university of China), Yu LI, Chaoran MA, and Yutong RAN Aggolomeration, Government involvement, and Exporting Productivity Dynamics in China Qianqian WANG (Henan University) Private Ownership, Innovation and Performance of China’s Manufactured Exports: Evidence from Industry-Level Data Abdul RAUF (Wuhan University), and Ying MA

A6: Environmental Economics: Air Quality Boxue 303 Chair: Ying LIU (Shandong University) Effects of Driving Restrictions on Air Quality: Evidence from a Natural Experiment in China Ying LIU (Shandong University) Evaluating the Impact of Environmental Regulation on Air Quality and Local Economy Jingqiu PENG (Southwestern University of Finance and Economics), and Jipeng ZHANG Clearing the Air Through Pipes? The Effects of Natural Gas Projects on Air Pollution Yanyan GAO (Southeast University), and Jianghuai Zheng Environmental Impact Assessment and Prospect of Beijing Automobile Purchase Restriction Policy Fengyu CHENG (Guangzhou Academy of Social Sciences)

A7: Environmental Economics: Environmental Decentralization Boxue 305 Chair: Junjun JIA (Hefei University of Technology) Centralization and Pollution Spillovers: Evidence from River-basin Management in China Yu ZHENG (Nanjing University), and Bing ZHANG Public Preference for Water-Saving Measures in China Junjun JIA (Hefei University of Technology), Hua-Qing WU, and Ying FAN

- 9 - Analysis of Air Pollution Abatement Costs in Enterprises of Different Size: Evidence from Chinese Industrial Enterprises Qianqian WANG (Nanjing University), and Bing ZHANG The Effect of Fiscal Decentralization on China’s Environmental Spending Yidan LIU (Xi'an Jiaotong-Liverpool University)

A8: Rural Economics (I) Boxue 307 Chair: Min SHI (Huazhong Agricultural University) Effects of Social Relationships on Farmers’ Land Transfer-in Behavior in China Yu WU (South China Agricultural University), Tong ZHANG, and Biliang LUO Land Transfer, Plot Size and Household Labor Productivity: An Empirical Study in China Lijing ZHANG (Zhejiang University), and Wenrong QIAN Does Mismatched Land Tenure Certificate Matter to Technical Efficiency? Evidence of Smallholder Rubber Farming Min SHI (Huazhong Agricultural University), Junfei BAI, Xiaobing WANG, and Jikun HUANG Non-Productive Value of Land and Incomplete Exit of Farm Labor: Resource Misallocation in China’s Agricultural Sector Meilin MA (Purdue University)

A9: Agricultural Economics (I) Boxue 310 Chair: Hui CAO (Northwest A&F University, and Wageningen University) Impact Evaluation of Exogenous Shocks on Agricultural Trade Competitiveness Evidence from Fukushima Nuclear Accident Ni ZHUO (Zhejiang University), Ji CHEN, and Jingqi DANG Farm Size and Farmers’ Pro-Environmental Agricultural Practice in Shandong Province, China Hui CAO (Northwest A&F University, and Wageningen University) Climate Change, Agricultural Risk and the Development of Cooperatives Huayan ZHANG (Zhejiang University), Jianqing RUAN, and Shuai CHEN Evaluation of the Risk Management Performance of Agricultural Subsidy Policy and Crop Insurance in China—A Quantitative Analysis Based on A Copula Method Rui FANG (China Agricultural University), Yi AN, and Wenchao LIU

- 10 - A10: Political Economy (I) Boxue 311 Chair: Shiqi GUO (The Graduate Institute of International and Development Studies, Geneva) Voice of the Masses and Responsive Authoritarianism in China: An Empirical Study Based on the Big Data from Sina Weibo Mengdi LIU (Nanjing University), and Bing ZHANG Winter Is Coming: Early-life Experiences and Politicians’ Decisions Shiqi GUO (The Graduate Institute of International and Development Studies, Geneva), Nan GAO, and Pinghan LIANG Does Difference in Information Endowment Cause Inequality of Opportunity? — Evidence from National Civilized City Nan GAO, and Fuxin ZHANG (Zhongnan University of Economics and Law) The Effects of Beijing’s Urban Growth Boundaries on Urban Development Shihe FU (Xiamen University), Yizhen GU, and Ying LONG

A11: Belt and Road (I) Boxue 313 Chair: Ling FENG (Shanghai University of Finance and Economics) The Impact of BRI on China’s OFDI in Europe Mingchun CAO (Kozminski University), Salman BAHOO, and Ilan ALON Do International Students More Wanted to Stay in China When They Graduate? — Survey Results from 635 International Students in a Chinese Coastal University Lu WANG (Wenzhou University) Financial Development and Natural Resources: The Dynamics of China’s OFDI Ling FENG (Shanghai University of Finance and Economics) Estimating Electricity Demand Using Night-Time Light Imagery in the Countries Along the Belt and Road Xin GU (Southeast University), and Jiaxian WU

A12: Econometrics (I) Boxue 317 Chair: Yong BAO (Purdue University) Multiple Long Run Equilibria Through Cointegration Eyes Jun Yi Peng ZHOU (Universidad Carlos III de Madrid) Indirect Inference Estimation of Spatial Autoregressions Yong BAO (Purdue University), Xiaotian LIU, and Lihong YANG

- 11 - Semiparametric Estimation of Correlated Random Coefficient Models Without Instrumental Variables Jing XUE (Dongbei University of Finance and Economics), Samuele CENTORRINO, and Aman ULLAH Multiple Imputation of Missing Values in Income Variables Under MICE Strategy –Based on CFPS2016 Personal Income Data Keyu FU (Renmin University of China), Xinyi SHEN, and Benjun XIAO

A13: Microeconomics (I) Boxue 319 Chair: Jan KLINGELHÖFER (Henan University) ―Breaking Away from Reality‖, A Beautiful Trap? – Empirical Evidence from ―Corporate Real Estate Diversification‖ Jialin HUANG (Nanjing University of Finance and Economics) Relative concerns and social network structure: An experimental study Mofei JIA (Xi’an Jiaotong-Liverpool University), Armenak ANTINYAN, and Gergely HORVATH Promoting Matching Theory – Matching Games for the Class Room, Parties and Other Social Settings Jan KLINGELHÖFER (Henan University) Cyber Company and Behavior-Based Price Discrimination Chengming JI (China Agricultural University)

A14: Finance: Financial Market (I) Boxue 321 Chair: Rongrong SUN (Henan University) Emerging Market Economies in the Global Financial Cycles: The Role of Financial Development Wenyue ZHANG (Goethe University of Frankfurt) Macroprudential Policy and Financial Stability: Bank-Level Evidence from China Rongrong SUN (Henan University), and Jan KLINGELHÖFER Profit Heterogeneity in G8 and Emerging Economies: A Variance Decomposition Analysis Tanveer AHSAN (Rennes School of Business) Comparing Simple and Sophisticated Measures of Financial Literacy Tsun-Feng CHIANG (Henan University)

- 12 - A15: China’s Economy Boxue 403 Chair: Shihong ZENG (Beijing University of Technology) How does Climate Change Taxation in the form of Carbon Tariffs and Carbon Taxation Influence China’s Economy? Shihong ZENG (Beijing University of Technology), Zuyan JIANG, Bin SU, Yu LIU, and Yingying LU Institutional Factors Underlying China’s Rapid Economic Growth Qing-Ping MA (The University of Nottingham Ningbo China) How Far has China Moved Away from the Old Growth Model? Yingfeng XU (University of Alberta) Economic Planning, the Law of Value, and Economic Restructuring in China: 1953-1978 Abdol SOOFI (University of Wsiconsin-Platteville)

A16: Organized Session: Urban Housing Market Boxue 405 Chair: Junfu ZHANG (Clark University) Do Elderly Individuals Delay Claiming Social Security and Cash-out Home Equity When House Prices Appreciate? Naqun HUANG (Nanjing Audit University), Jing LI, and Amanda ROSS Does Labor Supply Compensate Housing Costs? Bo JIANG (Southwestern Jiaotong University), and Zhengquan CHENG Housing Provident Fund, Housing Demand, and Housing Equality Chuanhao TIAN, Chaoyue TIAN (Southwestern University of Finance & Economics), and Feihong HU Inside Job: Evidence from the Chinese Housing Market Yongqiang CHU, Weida KUANG, Daxuan ZHAO (Renmin University of China), and Xiaoxia ZHOU

A17: Organized Session: Nutrition and Childhood Development in China Boxue 407 Chair: Kevin CHEN (Zhejiang University) Nutrition, Cognition and Social Emotion Among Preschoolers in Poor Rural Areas of China Zimeiyi WANG, Chengfang LIU, Kevin CHEN, Shaoping LI, Yanying YU, and Renfu LUO

- 13 - The Effect of Different Obesity Intervention on Dietary Diversity Among Urban Children in China: A Cluster Randomized Controlled Trial Haiquan XU, Olivier ECKER, Qian ZHANG, Songming DU, Ailing LIU, Yanping LI, Xiaoqi HU, Junmao SUN, Kevin CHEN, and Guansheng MA Quantity-Quality Trade-Off and Early Childhood Development in Rural Family: Evidence from China’s Guizhou Province Jingdong ZHONG, Jingjing GAO, Chengfang LIU, Jie HUANG, and Renfu LUO Universal Two Child Policy and Son Preferences in China Shaoping LI, Yongqing DONG, and Chengfang LIU

Saturday, June 8, 2019 (16:40-18:10) (Author’s name in bold indicates person presenting paper)

B1: Labor Economics: Labor Supply (I) Boxue 212 Chair: Huibin CHANG (Dongbei University of Finance and Economics) Housing Wealth and Labor Supply Jialing JIANG (Capital University of Economics and Business), and Zhichao YIN The Impact of Wealth Shock on Labor Supply: Evidence from Compensation for Land-Requisition in China Tianyu WANG, and Minhui ZHOU (University of International Business and Economics) The Welfare Effect and Wider Impact of Regulating Low-Skilled Migration Huibin CHANG (Dongbei University of Finance and Economics), Wenquan LIANG, and Hongwei XU

B2: Labor Economics: Human Capital Boxue 213 Chair: Bei LIU (Beijing Language and Culture University) Linguistic Human Capital: An Emerging Factor for Rural Economic Growth in China? Bei LIU (Beijing Language and Culture University) The Influence of Sex Ratio on Gender Role Attitudes: An Empirical Analysis Based on CGSS

- 14 - Tu QIN, and Jing YAN (Beijing Normal University) Do Long-Run Disasters Promote Human Capital Accumulation in China? Zhidi ZHANG (Zhejiang University), and Jianqing RUAN Individual Human Capital Forecast in China: An Application of Income-Based Approach Junzi HE (Central University of Finance and Economics)

B3: Health Economics: Health Outcomes (II) Boxue 214 Chair: Jin JING (Yunnan University of Agriculture) Bereavement and Health of Chinese Older Adults Fengyu WU (Wake Forest University), and Mingming MA Comparative Study Between Boarding and Non-Boarding Students in Nutrition and Health Status Jin JING (Yunnan University of Agriculture), and Qiran ZHAO Structural Impact of Income on Diet Health of Chinese Rural Adults — Based on Healthy Eating Index Lei LI (China Agricultural University), and Junfei BAI Cost of Bereavement in China: Evidence from the China Health and Retirement Longitudinal Survey Zhuo CHEN (University of Georgia), Justin INGLES, Jiahui YING, Donglan ZHANG, and Janani THAPA

B4: Development Economics: Innovation Boxue 219 Chair: Yuejun ZHANG (Hunan University) Research on the Impact of Industrial Policy on Innovation: Macro-Level Evidence from China’s Strategic Emerging Industry Policy Yangxun ZHANG (Jinan University), and Hao ZHOU How does Technological Innovation Affect the Performance of Energy Corporations in China? Yuejun ZHANG, Ting LIANG (Hunan University), and Jingyue LIU Regional Innovation Externalities and Open Innovation in Transition China Shuai WANG (Hefei University of Technology) ―Speeding on the Track‖: Does High Speed Railway Raise the Innovation in China? Kailing ZHU (Zhejiang University), and Jingqi DANG

- 15 - B5: Development Economics: Effects of Aid and Education Boxue 223 Chair: Kun SONG (Sichuan Agricultural University) Foreign Aid and Adolescent Fertility Rate: Cross-Country and Within-Country Evidence Hong ZHUANG (Indiana University South Bend), Miao WONG, and Joseph DANIELS Research on the Sustainable Mode of Financial Poverty Alleviation in Yi Region of Sichuan Province — from the Perspective of Dual Financial Cooperation Kun SONG (Sichuan Agricultural University) Education and Financial Literacy: Evidence from the Great Famine in China Xu GAN (Wuhan University), Yang ZHOU, and Zhiping ZHOU

B6: International Economics Boxue 303 Chair: Jianhong ZHANG (Nyenrode Business University) Can Global Value Chains Embeddedness Improve the International Competitiveness of Manufacturing Industry? Xiaoli MA (Jilin university), and Benye SHI What Factors Influence Legitimacy of Chinese Multinational Enterprises? Jianhong ZHANG (Nyenrode Business University), Chaohong ZHOU, Desiree Van GORP, and Haico EBBERS The Provincial Interdependence and China’s ―Irrational‖ Outward Foreign Direct Investment Xingwang QIAN (SUNY Buffalo State), and Mengheng LIU Technology Reverse Spillover Effect of Outward Foreign Direct Investment Kun MA (Shenyang University of Chemical Technology), Nazrul ISLAM, and Yinan WANG

B7: Environmental Economics: Regulation and Productivity Boxue 305 Chair: Chen JI (Zhejiang University) Environmental Regulation Stringency and Allocation between R&D and Physical Capital: A Two-Engine Growth Model Yibai YANG (University of Macau), Juin-Jen CHANG, and Chien-Yu HUANG The Competitive and Agglomeration Effect of Foreign Investment on Enterprise

- 16 - Pollutant Emissions—An Empirical Study Based on Difference in Difference Analysis Qizhen LIU (Southwestern University of Finance and Economics), Wei JIANG, and Shenxiang XIE Standardized Production Behavior Selection and Non-Point Source Pollution of Mariculture in Zhejiang Province Ye JIANG (Zhejiang University), and Hongyun HAN Impact Evaluation of Livestock Environmental Regulation on Structural Change in Agricultural Sector Chen JI (Zhejiang University), and Ni ZHUO

B8: Agricultural Economics (II) Boxue 307 Chair：Haoxuan LUO (Chengdu University of Technology) Income Growth, Urbanization and Food Demand in China: Prediction Based on a Meta-Regression Analysis Approach Shixian ZHAI (China Agricultural University), Qiubo ZHU, Lei LI, and Junfei BAI Decomposition of Impact of Climate Change on Agricultural Production: A Cross-Country Panel Study Tao XIANG (Northeastern University), Fan LI, and Yuneng DU The Prediction About the Characteristics of China’s Agricultural and Rural Development and the Prospect of Rural Revitalization in the Future 2020 — 2050 Years Haoxuan LUO (Chengdu University of Technology) ―Good Intentions Gone Awry‖: Agricultural Tax, Fertilizer Use and Water pollution Yansang YAO (Zhejiang University), and Jingqi DANG

B9: Belt and Road (II) Boxue 310 Chair: Tingting TONG (Dongbei University of Finance and Economics) Assessing Market Integration of the Belt and Road Initiative Partners Marina GLUSHENKOVA (University of Nottingham Ningbo China) Assessing the Potential Trade Impacts of China’s Belt and Road Initiative T. Edward YU, Tingting TONG (Dongbei University of Finance and Economics), and P. Lynn KENNEDY

- 17 - The Border Effect of Agricultural Trade Between China and the Belt and Road Countries: A CGE Model Analysis Yipu PANG (Zhejiang University), and Jingqi DANG

B10: Econometrics (II) Boxue 311 Chair: Wuyang HU (Huazhong Agricultural University and Ohio State University) Mixed Breaks, Asymmetric Frequency and LM Unit Root Yifei CAI (The University of Western Australia), Yanrui WU, and Tolga OMAY Applying Hypothetical Bias Mitigation Techniques in China and the US: A Case Study of Battery Recycling Wuyang HU (Huazhong Agricultural University and Ohio State University), Jerrod PENN, Ye TAO, and Qing PING Panel Smooth Transition Regression Model with Weakly Exogenous Regressors under Cross-Sectional Dependence Chonghua DU (Dongbei University of Finance and Economics), Weiguo WANG, and Jing XUE Discrepancy between global and local principal component analysis on large-panel high-frequency data Xinbing KONG,Jinguan LIN, Cheng LIU (Wuhan University), and Guangying LIU

B11: Microeconomics (II) Boxue 313 Chair: Jin ZHANG (Southwestern University of Finance and Economics) Different Impacts of Climate Change on the Productivity of Greenhouse and Field Vegetables Shurui ZHANG (Zhejiang University), and Binlei GONG Hedonic Analysis of Consumers’ Valuation of Social Responsibility in China? Yu JIANG (Zhejiang University) The Market Value of New Vehicle Fuel Economy in China: Does Small Engine Vehicle Policy Play a Role? Jin ZHANG (Southwestern University of Finance and Economics) Far Away Gold: How Distance to Host Country Affects Olympic Performance Zijun LUO (Sam Houston State University), and Xiaobo HE B12: Industrial Economics (I) Boxue 317

- 18 - Chair: Yongzheng LIU (Renmin University of China) The Spillover Effect of Terrorism on Tourism Xiaotong LI (University of Macau), and Jia YUAN Collusion, Political Connection, and Tax Evasion Yongzheng LIU (Renmin University of China), Pi-Han TSAI, and Xin LIU Public Capital and Firm Performance: Micro-Evidence from China’s High-Speed Rail Chun KUANG, Zijie LIU (Renmin University of China), and Wenyu ZHU Indirect Taxation and Consumer Welfare in an Asymmetric Stackelberg Oligopoly Leonard F.S. WANG, Chenhang ZENG (submitter), and Qidi ZHANG

B13: Finance: Credit Risk Management Boxue 319 Chair: Wei ROWE (University of Nebraska at Omaha) Oil Prices and Bank Credit Risk in Mena Countries after 2008 Financial Crisis Rui WANG (Xihua University), and Hang (Robbin) LUO The Effects of Prefunding on Crowdfunding Success Xiahua WEI (University of Washington), Weijia YOU, Ming FAN, and Yong TAN US Community Banks, Performance and Challenges Wei ROWE (University of Nebraska at Omaha), Carol WANG, and Matthew ROWE Analysis of the Effectiveness of Guarantee Network Connection for Enterprises to Avoid Financial Distress — Based on the ERGM Models Wuqing WU, Weihao ZHEN, and Yirui WANG

B14: Finance Boxue 321 Chair: Josh STILLWAGON (Babson College) New Evidence on the Portfolio Balance Approach to Currency Returns Josh STILLWAGON (Babson College), Nevin CAVUSOGLU, and Michael D. GOLDBERG Trading on Technology Freeway: Evolution of Market Quality and Systemic Risks Pawan JAIN (University of Wyoming) The Effect of Financial Variables on Stock Return and Performance as the

- 19 - Intervening (Study on Manufacturing Industry Listed in Indonesia Stock Exchange) Tonny Serfius MARINGKA (Manado Eben Haezar School of Economics, Indonesia)

B15: China’s Trade Boxue 403 Chair: Kevin ZHANG (Illinois State University) Trade War and Industrial Upgrading in Emerging Economies: Evidence from Chinese Manufacturing Panel Data Kevin ZHANG (Illinois State University) How do Small Farmers Adjust to Trade Liberalization? Evidence from China’s WTO Accession in Livestock Industry Rongzhu CHENG (Zhejiang University), and Longbao WEI Risk Transmission Between China and U.S. Soybean Futures Markets Wenchao LIU (China Agricultural University), Yi AN, and Rui FANG Sino-US Trade Friction Transmission Mechanism and Effect Evaluation Based on GVC Linkage Effect Xiaojuan WANG (Jilin University), and Benye SHI

B16: Organized Session: Transportation, Innovation, and Migration in Cities Boxue 405 Chair: Shihe FU (Xiamen University) Do Subways Reduce Congestion? Evidence from US Cities Jindong PANG (Wuhan University), and Shulin SHEN Access to Port and the Welfare Gains from Trade and Domestic Transportation Infrastructure Yang XU, and Xi YANG (Xiamen University) Dialectal Diversity and Urban Innovation: Evidence from China’s Venture Capital Investment Yue HUA (Hunan University), and Cheng CHENG Return Migration and Hukou Registration Constraints in Chinese Cities Jipeng ZHANG (Southwestern University of Finance and Economics), Jin HAUGN, Shukang XIAO, and Junhui WANG

- 20 - B17: Organized Session: Reflection of China’s Rural Development Strategy Boxue 407 Chair: Fan LI (Wageningen University) Building a Model to Stimulate: How New Socialist Countryside Program Affecting Rural Residences’ Social Welfare Chen QIAN (Wageningen University) Is E-Commerce a Panacea for Selling Agricultural Products from Rural China? Min LIU (Peking University), Shi MIN, Huimin WANG, Jixia WANG, and Jikun HUANG Effect ff Science and Technology Backyard on Sustainable Farming in Rural China: A Quasi-Experimental Study Fan LI (Wageningen University) Political Elite Capture and Access to Land: Evidence from Rural Xinjiang, China Fangping RAO (Nanjing Agricultural University)

Sunday, June 9, 2019 (08:45-10:15) (Author’s name in bold indicates person presenting paper)

C1: Labor Economics: Education (I) Boxue 212 Chair: Zheng PAN (South China Normal University) Classroom Peer Effects and Adolescent Weight: Randomization Evidence from China Zheng PAN (South China Normal University), and Yiyang LUO Impacts of Single-Parent Families on Student Educational Outcomes, Non-Cognition, and Values in Rural China Yi CUI (Shaanxi normal University), and Yu BAI Bidirectional Peer Effects on Students’ Psychological Quality and Academic Performance Suyan ZHANG (China Agricultural University) Sophistication and Cautiousness in College Applications Yan SONG (Jinan University)

- 21 - C2: Labor Economics: Labor Supply (II) Boxue 213 Chair: Xun LI (Wuhan University) Direct and Spillover Effects of Free Compulsory Education on Schooling and Migration Shuangxin WANG (The Chinese University of Hong Kong), Naijia GUO, and Rong ZHAO Impact of Rural-to-Urban Migration on Labor Market Conditions of Urban Residents in China Xi CHEN (Huazhong University of Science and Technology) Is Bureaucracy Still the Best Outlet? The Role of Chinese Anti-Corruption Campaign in Reshaping Occupational Preference Xun LI (Wuhan University), and Weizheng LAI Credit Constraint, Rural Land Marketization and Urbanization of Rural Migrant Workers Shengzhi MAO (Nanjing University of Finance and Economics)

C3: Labor Economics: Wage Efficiency and Productivity Boxue 214 Chair: José R. SÁNCHEZ-FUNG (University of Nottingham) Is the Chinese Labor Market Efficient? Empirical Evidence from a Non-Parametric Analysis Qiao WANG (Capital University of Economics and Business), and Wenju WANG Examining the Life-Cycle Artistic Productivity of Latin American Photographers José R. SÁNCHEZ-FUNG (University of Nottingham) Self-Selection and the Wage of Migrants in China Shan JIN (Virginia Tech) The Wage-Productivity Nexus in the World Factory Economy Xiaodan YU (Nottingham Business School China)

C4: Agricultural Economics (III) Boxue 219 Chair: Bin LIN (Zhejiang University) Research on Transformation and Upgrading Mechanism of Tea Industry in Meitan County Based on New Structural Economics Hongmei LI (Guizhou University), and Debing XIONG Cooperative Membership and Rice Productivity: Evidence from China Bin LIN (Zhejiang University), and Wanjiang YANG

- 22 - Profit Distribution Mechanism of Fresh Milk Supply Chain Based on Modified Shapley Value Method Liang CHI (China Agricultural University) What Drives Succulence Supply in China? — A Nerlovian Analysis with LASSO Variable Selection Shengying ZHAI (China Agricultural University), Qihui CHEN, and Wenxin WANG

C5: Development Economics: Productivity Boxue 223 Chair: Weijian SU (Shandong University of Finance and Economics) Banking Concentration, Regulatory Policy Innovation and Total Factor Productivity — Evidence from China Weijian SU (Shandong University of Finance and Economics) Resource Reallocation and Agricultural Total Factor Productivity Growth in China Hongyun ZHENG (Huazhong Agricultural University), and Gucheng LI Does Product Complexity Matter for Firms’ TFP？ Shu GUAN (Dalian University of Technology), and Liwei CHENG Capabilities for Digitalization: An International Comparison and a Lesson from China’s Experience Asei ITO (University of Tokyo)

C6: International Economics: Exchange Rate (I) Boxue 303 Chair: Ya-chi LIN (Hubei University of Economics) Integration and Interruption of the RMB Markets: A Test for CNY, CNH, and CNT Ya-chi LIN (Hubei University of Economics), and Kuo-chun YEH The Role of Counter-Cyclical Factor in the China Foreign-Exchange Regime: How is the Midpoint Rate Determined? Qi FU (University of Macau), and Jacky Y.C. SO Exchange Rate Dynamics and Global Monetary Policy Spillovers: The Time-Varying Dynamic Causal Effects Wenting LIAO (Northeastern University), Jun MA, and Chengsi ZHANG

- 23 - C7: International Economics: International Trade & Business Boxue 305 Chair: Chao FU (Hangzhou Dianzi University) What Else Can It Do? The Confucius Institute Effect on Chinese Firms’ CMA Activities JAN FIDRMUC (Brunel University), Hao WANG, Yonghui HAN, and Dongming WEI How Costly Is a Product-Harm Crisis: Measuring the Trade Effects of the 2013 Contaminative Rice Event in China Mingda CHENG (Zhejiang University), and Jingqi DANG Impact Evaluation of Food Safety Crisis on Pork International Trade: Evidence from the 2011 Ractopamine Incident in China ZhiHao WU (Zhejiang University), Ji CHEN, and Shuai CHEN Corporate Fraud and Cross-Border Mergers and Acquisitions: Evidence from China Chao FU (Hangzhou Dianzi University), Xiuyuan DENG, Hongfei TANG

C8: Environmental Economics: Market Mechanism Boxue 307 Chair: Yishu ZHOU (Missouri University of Science and Technology) The Attributes of the Emission Commodities in the EU Carbon Market and Its Backward-Bending Supply Curve Yinpeng LIU (Chinese Academy of Sciences) Green Development: Case Study on the Mechanism of Industrial Transformation in Panzhou City Ji QIAN, and Debin XIONG Study on Farmers’ Willingness to Pay for Eco-Friendly Agricultural Waste Management in Ethiopia: A Contingent Valuation Haimanot ATINKUT (Huazhong Agricultural University), Tingwu YAN, and Ke HE Multiple Price Signals in Carbon Emission Markets Yishu ZHOU (Missouri University of Science and Technology), and Ling HUANG

C9: Rural Economics (II) Boxue 310 Chair: Yunli BAI (Chinese Academy of Sciences) The Effects of Local Non-Farm Employment on Rural Household Consumption: Evidence from CHIP Rural Household Survey

- 24 - Xingxiang WEN (Nanjing University of Finance and Economics) Grandfathers and Grandchildren: Social Security Expansion and Child Health in China Jinyang YANG (Virginia Tech) Agglomeration Economies and Farmer’s Income Growth — Evidence from China Lyuhang ZHAO (Zhejiang University), and Jianqing RUAN Entering and Exiting: The Trends and Causes of Part-Time Farming in Rural China Yunli BAI (Chinese Academy of Sciences), Linxiu ZHANG, and Weidong WANG

C10: Urban Economics Boxue 311 Chair: Juann HUNG (Xi'an Jiaotong-Liverpool University) What Have Impeded the Effectiveness of China’s Affordable Housing Policies? Juann HUNG (Xi'an Jiaotong-Liverpool University) What Big Data Can Tell Us About Housing Price: Quantifying Influencing Factors Using Scrapped Online Data in Suzhou Yuanzhe LI (Xi’an Jiaotong-Liverpool University), and Lan HAO Housing Boom and Baby Bust: Evidence from a Quasi-Natural Experiment in China Lina MENG (Xiamen University), Lu PENG, and Yinggang ZHOU What Causes Urban Spatial Expansion in China — Theory and Empirical Evidence Based on Nighttime Light Data Xiuye BAI (Xiamen University), and Shihe FU

C11: Regional Economics Boxue 313 Chair: Volker SEILER (Xi’an Jiaotong-Liverpool University) A Comparative Analysis of Maritime Industrial Development Areas of Liaoning, China Sherry YU (New College of Florida), Fei CHEN, Lianlian LIU, Wei LU, and Jun CAI 40 Years of Economic Reform — The Case of Pudong New Area Open Economic Zone in Shanghai

- 25 - Volker SEILER (Xi’an Jiaotong-Liverpool University), Bernard Michael GILROY, Christian PEITZ, and Nico STÖCKMANN Trade Potential and Regional Development in China and Russia Kiril TOCHKOV (Texas Christian University) City Size and Innovation: Evidence from China Nanxin DENG (The Ohio State University)

C12: Belt and Road (III) Boxue 317 Chair: Jack HOU (California State University Long Beach) China’s Trade Impact on African Growth: Evidence from Third Generation Panel Cointegration Approach Nana Kwabena KUFUOR (University of Nottingham, Ningbo, China), and Saileshsingh GUNESSEE Debt Sustainability and China’s Aid to Africa Mary-Françoise RENARD (Clermont Auvergne University, CNRS), Jun ZHANG, and Shuo SHI Host Country Corruption and Chinese OFDI: Sand or Lube? Jack HOU (California State University Long Beach), Haiyue LIU, and Kuangyu HE Quantitative Determination of Integration Potential of Economic Cooperation of China with BRICS Countries Svetlana GUSAROVA (Plekhanov Russian University of Economics)

C13: Industrial Economics (II) Boxue 319 Chair: Cong WANG (University of Tasmania) Ultimate Ownership, Capital Structure, and Firm Performance: Evidence from China Cong WANG (University of Tasmania) Endowment Structure, Property Rights and Reforms of Large State-Owned Enterprise in China, Past, Present and Future Huangnan SHEN (SOAS University of London), Xiaojie LIU, and Kent DENG The Threshold Effect of Fiscal and Financial Policies on Technological Innovation of Wind Power Industry Daojuan WANG (Aalborg University), Wei GAO and Liyu FANG

- 26 - Location-Price Equilibria and Urban Environment When Traditional Retailer Competes Against an Online Retailer Zemin HOU, Yong QI, and Yudi YANG

C14: Macroeconomics (I) Boxue 321 Chair: Pui Sun TAM (University of Macau) News Shocks and the Effects of Monetary Policy Ren ZHANG (Bowling Green State University) Regional Inequality and Fiscal Decentralization in China: A Dsge Model with Heterogeneous Agents Xiaoliang YANG (Cardiff University), Lucy MINFORD, Kent MATTHEW, and Shouwei QI Patent Protection, Innovation, and Technology Transfer in A Schumpeterian Economy Zhijie ZHENG (Southwester University of Finance and Economics), Chien-Yu HUANG, and Yibai YANG China’s Urban-Rural and Regional Disparities in Household Consumption Pui Sun TAM (University of Macau)

C15: Finance: Financial Market (II) Boxue 403 Chair: Chiu-Lan CHANG (Xiamen University) Over Confidence and Economic Risk — Evidence from Chinese Managers Qingmin HAO (Tianjin University) On Local Fiscal Debt Risk Measurement and Management in China Based on the Improved KMV Model — Taking S Province as an Example Jinmian HAN (Northwest University), Yinchen LIU, and Xiaoqiang MA Impacts of Monetary Instruments on Overnight Spread Under the Chinese Interest Rate Corridor Framework Chiu-Lan CHANG (Xiamen University), and Ming FANG The Impact of Investor Structure on the Stock Price Crash Sensitivity: Evidence from China’s Stock Market Ningning PAN, Qiuhua XU (Southwestern University of Finance and Economics), and Hongquan ZHU

- 27 - C16: Finance: Corporate Finance Boxue 405 Chair: Tao GU (Daito Bunka University) Wage Determination and Fixed Capital Investment in an Imperfect Financial Market: The Case of China Tao GU (Daito Bunka University) The Financial Investment Decision of Non-Financial Firms in China Chengsi ZHANG, Ning ZHENG (Renmin University of China) Ambiguity Aversion and Leverage Puzzles Xiaoman DUAN (Sam Houston State University), Wenbin CAO, and Sami ATTAOUI The Communist Party of China and Corporate Takeovers Xiaogang BI (Nottingham University Business School China)

C17: Organized Session: Land Rental Market and Its Role in Sustainable Agriculture in Rural China Boxue 407 Chair: Xianlei MA (Nanjing Agricultural University) Land Rental Transactions Between Acquaintances: Does the Demonstration Effect of Outer Village Lessees Matter? Qinying HE (South China Agricultural University), Tongwei QIU, and Biliang LUO To Rent-In Machine or to Rent-Out Land: The Role of Agricultural Machinery Services with Smallholders Yan LIU (Nanjing Agricultural University) Improving Fertilizer Use Efficiency of Large-Scale Farming in China: Does Contractual Duration in Farmland Transfer Matters? Fang LI (Ghent University), Shuyi FENG, Hualiang LU, Futian QU, and Marijke D’HAESE Does Land Rental Market Facilitate Sustainable Agriculture? — Empirical Evidence from Rice Production in China Xianlei MA (Nanjing Agricultural University), Liang TANG, Yuepeng ZHOU, Xuchao CHE, Xiaoping SHI

- 28 - Sunday, June 9, 2019 (10:45-12:15) (Author’s name in bold indicates person presenting paper)

D1: Labor Economics: Children’s Academic Performance Boxue 212 Chair: Jie LIU (Yunnan Agriculture University) The Impact of Left Behind Experience on Children’s School Performance and Health in Ethnic Minority Areas of Rural China Jie LIU (Yunnan Agriculture University), and Qiran ZHAO How does Parental Out-Migration Affect Left-Behind Children’s Schooling Outcomes? Xiaoman LUO (University of California, Davis) Parental Absence and Preference Development in Children: An Experimental Study on Rural Left-Behind & Non-Left-Behind Children Yexin ZHOU, Yi ZHAO (Beijing Normal University), Tianyu WANG, and Björn VOLLAN Parents Migration and Children’s School Performance in China: Physical Health or Mental Health? Junjie XU (China Agricultural University)

D2: Labor Economics: Education (II) Boxue 213 Chair: Yingmei GUO (Yunnan Agricultural University) Why Girls Outperform Boys at Secondary School? The Role of Motivation, Self-control, and Time Investment Songtao YANG (South China University of Technology) Study on the Influence Mechanism of Pupils’ Academic Performance in Frontier Minority Area: A Survey from 3042 Students in Yunnan Province Yingmei Guo (Yunnan Agricultural University), and Qiran ZHAO The Effect of Parents’ Education on the Academic and Non-Cognitive Outcomes of their Children Weidong WANG, Linxiu ZHANG, and Yunli BAI (Chinese Academy of Sciences)

- 29 - D3: Health Economics: Patients’ and Hospitals’ Behavior Boxue 214 Chair: Xuezhen TAO (Shanghai University of Finance and Economics) Effects of Medicaid Expansion on HIV Testing and Risk Behavior Yunwei GAI (Babson College), and John MARTHINSEN Does the Hospital Competition Lead to Medical Equipment Expansion? Evidence on the Medical Arms Race Liyong LU (Sichuan University), and Jay PAN Pharmacy Richness and Residents’ Anti-Smog Mask Wearing Behavior: Evidence from Shenyang, China Xi CHEN (Renmin University of China), and Yazhen GONG Balance Billing and Health Care Cost: Evidence from Cardiac Stents Xuezhen TAO (Shanghai University of Finance and Economics), Ginger JIN, and Hsienming LIEN

D4: International Economics: Exchange Rate (II) Boxue 219 Chair: Dingming LIU (Xiamen University) Tolerance of Flexibility: Foreign Exchange Intervention and Managed Floating Redux Hang ZHOU, and Dong LU (Renmin University of China) What Makes Other Currencies Co-Move with the Renminbi? Jiyoun AN (Kyung Hee University), and Bokyeong PARK Shock Dependent Exchange Rate Pass-Through: Evidence Based on a Narrative Sign Approach Lian AN, Mark WYNNE, and Ren ZHANG ((Bowling Green State University)) Time-Varying Effects of Hot Money Flows on China’s Economy Dingming LIU (Xiamen University)

D5: Environmental Economics: Governance Boxue 223 Chair: Matthieu CLÉMENT (University of Bordeaux, France) Policy Enforcement Through Accountability: A Study of Environmental Regulation Enforcement in China’s Huai River Basin Boying LI (Tongji University), Haitao YIN, Feng WANG, and Shuiyan TANG The Competition for Emission Reduction Goals and Their Trade-offs with

- 30 - Economic Growth: Evidence from China’s Cities Tingru YANG (Beijing Institute of Technology), and Hua LIAO Income Inequality and Environmental Quality in China: A Semi-Parametric Analysis Applied to Provincial Panel Data Matthieu CLÉMENT (University of Bordeaux, France), Céline BONNEFOND, and Huijie YAN Parent Preference and Willingness to Pay for Baby Formula in China: Evidence from a Choice Experiment Qingbin WANG (University of Vermont), Hao Cui, and Ethan Thompson

D6: Public Economics Boxue 303 Chair: Xiaoyong DAI (Xi’an Jiaotong Univerisity) Strategic Divorce, Tax Avoidance and Housing Price Xiaokuai SHAO (Tsinghua University), and Ming GAO Does the High- and New-Technology Enterprise Program Promote Innovative Performance? Evidence from Chinese Firms Xiaoyong DAI (Xi’an Jiaotong Univerisity) VAT Reform and Firm Upgrading: Evidence from China Xing SHI (Hefei University of Technology), Fei PENG, and Yanrui WU Variable Trade Costs and the Margins of Trade: Empirical Evidences from China’s Export Tax Rebate Policy Jing YAN (Central University of Finance and Economics), Bing LI, and Yan ZHANG

D7. Agricultural Economics (IV) Boxue 305 Chair: Jianyu YU (Southwestern University of Finance and Economics) Quality Control Through Retailing Contracts — On the Role of Agricultural Cooperative Jianyu YU (Southwestern University of Finance and Economics), Olivier BONROY, Zohra BOUAMRA-MECHMACHE Determinants of Adoption Towards Sustainable Agricultural Practices: Evidence from Intercropping in the Mountain Area of China Ting MENG (China Agricultural University), and Junfei BAI Food Safety in Wholesale Markets and Traceability to Farms: The Role of Public and Private Regulations Cangyu JIN (Zhejiang University), Qiao LIANG, and Jiehong ZHOU

- 31 - Mechanization and Agricultural Growth in China: Insights from the Structural Change in Typology of Farm Machinery Feifei SUN (Nanjing University of Information Science & Technology), Xuan DONG, and Xiaohua YU

D8: Experimental Economics Boxue 307 Chair: Haoqi TONG (Duke University) Would You Take the Chance? The Impact of Risk Perception on Chinese Consumers’ Food Choice Behavior Chunchen PEI (China Agricultural University), Qihui, CHEN, and Ruiyu LIU Information Intervention on Household Food Waste Has a Sustained Effect Shaopeng FU (China Agricultural University), and Junfei BAI Ex-Ante Fairness Under Constrained School Choice: An Experimental Approach Haoqi TONG (Duke University), and Xiaohan ZHONG How Team Study Cause Children’s Human Capital Improvement? Yu ZHOU (Jinan University-University of Birmingham Joint Institute), Chunchao WANG, and Aiping XIAO

D9: Political Economy (II) Boxue 310 Chair: Lei CHENG (Wuhan University) Do State-Owned Enterprises Take More Social Responsibilities? Analysis Based on Pollution Control Qi WANG (Nanjing University) More Transparency, More Trust: Evidence from Anti-Corruption Campaign in China Daxin SUN, and Yaxin ZHANG (Southwestern University of Finance and Economics) Anti-Corruption, Financing Constraint and Corporate Investment Efficiency: Evidence from China Yu QIN (Zhejiang SCI-TECH University), and Xiaoyan CHENG What Do Private Firms Do after Losing Political Capital? Evidence from China Lei CHENG (Wuhan University)

- 32 - D10: Macroeconomics (II) Boxue 311 Chair: Young Bin AHN (Henan University) The Study of Financial Cycle and Business Cycle in China Jiang Ye, and Huimin YANG (Zhejiang University of Technology) Are Consumers’ Forecasts of Inflation Useful in China? Young Bin AHN (Henan University) Business Cycles Across Chinese Provinces Lunan JIANG (Henan University), and Lin ZHANG

D11: Finance: Investors’ Behavior Boxue 313 Chair: Zhenxi CHEN (South China University of Technology) Herding in the Chinese and US Stock Markets: Evidence from a Micro-Founded Approach Zhenxi CHEN (South China University of Technology) Investor Sentiment, Speculative Bubble — Evidence from Analyst Recommendation Revision with No Fundamental News Yarong HAO (Southeast University), and Bin DONG How Does Mutual Fund Working Experience Affect Private Fund Performance? Kai WU (Central University of Finance and Economics), Ying Sophie HUANG, and Bing LIANG Uncertainty and Mutual Fund Flows: Evidence from Global Mutual Funds Yong WANG (City University of Hong Kong)

D12: Finance: Asset Pricing Boxue 317 Chair: Yu WANG (Xiamen University) Stock Market Liberalization, Liquidity, and Stock Returns: Evidence from Shanghai-Hong Kong Stock Connect Shaojie LAI (Jiangxi University of Finance and Economics), Weiguo WANG, and Jing XUE A Semi-Garch Approach for Comparing Long-Term and Short-Term Risk in Chinese financial Market and in Mature financial Markets Christian PEITZ, Yuanhua FENG, Nico STÖCKMANN, Bernard M GILROY, and Volker SEILER Testing the Fama-French Model for Different Market Trends — Evidence from

- 33 - the Chinese Stock Market Yu WANG (Xiamen University) A Study on Time Varying Spillover Effects in China’s Stock Index Futures Market Kewei HU (China Agricultural University), and Yi AN

D13: Organized Session: Econometrics and Statistics Boxue 319 Chair: Christina Dan WANG (New York University Shanghai) Optimal Covariance Matrix Estimation for High-dimensional Noise in High-Frequency Data Jinyuan CHANG (Southwestern University of Finance and Economics) Non-Standard Inference for Augmented Double Autoregressive Models with Null Volatility Coefficients Dong LI (Tsinghua University) Strict Stationarity Testing of Time Series Models Shaojun GUO (Renmin University of China) Bootstrapped Spectral Test for Adequacy in Weak Vector Autoregressive Models Muyi LI (Xiamen University)

D14: Organized Session: Demand and Supply of Food Safety and Quality Boxue 321 Chair: H. Holly WANG (Purdue University) Quality and Safety Governance of Agri-Food and Optimization of Industrial Organization Huangshu WANG (Guizhou University), and Tian XIA A Real Experiment on Chinese Consumers’ Choice of Genetically Modified Foods H. Holly WANG, Jing YANG (Zhejiang University), and Qiujie ZHENG The Role of Online Reputation Score on Curbing the Food Fraud: Information about Swill Cooked Oil Use in Restaurants on the Koubei App and Consumers’ Choices Na HAO (Beijing Technology and Business University), and H. Holly WANG Does Green Food Label Value Differently in Online V.S. Offline Market? Yu JIANG (Zhejiang University), H. Holly WANG, Shaosheng JIN, and Michael S. Delgado

- 34 - D15: Organized Session: Environmental Economics and Policy Uncertainty Boxue 403 Chair: Jingbo Cui (Wuhan University) Does Environmental Regulation Affect Firm Exports? Evidence from Wastewater Discharge Standard in China Yan ZHANG, Jingbo CUI (Wuhan University), and Chenghao LU Environmental Effects of Place-Based Policy: Evidence from Industrial Parks in Urban China Yue HUA (Hunan University), and Weizeng SUN The Impacts of Economic Policy Uncertainty on Intra-national Migration Xiaobo HE (Shanghai University of International Business and Economics), and Tianyi QIAO The Clean Development Mechanism and Firm Innovation in Renewable Energy: Evidence from China Jingbo CUI, Xi LIU, Yongping SUN, Haishan YU (Shanghai Jiao Tong University)

D16: Organized Session: City Sizes and Urban Development Boxue 405 Chair: Junfu ZHANG (Clark University) City Size, Spatial Spillover and Productivity: Evidence from Chinese Cities Yan CEN (Northeast Normal University), Xiumin LI, and Yuanzhe HE Estimating Agglomeration and Selection Effects of Different Spatial Scopes Yi NIU (Capital University of Economics and Business) City Size and Entrepreneurship Liang ZHENG (Central University of Finance and Economics) Beyond the Collateral Channel: Real Estate Prices and Firm Investment in China Yan WU (Nanjing Audit University), Nico HEERINK, and Linhui YU

D17: Organized Session: Energy Market, Technology Innovation and Economy Decarbonization Boxue 407 Chair: Hongbo DUAN (University of Chinese Academy of Sciences) Optimization of Dynamic Incentive for the Deployment of Carbon Dioxide Removal Technology — A Non-Linear Dynamic Approach Combined with Real Options

- 35 - Lei ZHU (Beihang University), Xing Yao, Xian Zhang How Green Is Information and Communication Technology? A Sector-Level Embodied Carbon Emissions Analysis Xiaoyong ZHOU (Nanjing University of Aeronautics and Astronautics), Dequn ZHOU, and Qunwei WANG Price Competition and Collusion in Retail Gasoline Market: Empirical Evidence from China Xiaobing ZHANG (Renmin University of China), Yinxin FEI, Ying ZHENG, and Lei ZHANG The Changes and Multiplicative Structural Decomposition Analysis in Global and National Carbon Intensity Based on Demand Perspective Hao XIAO (Hunan University), Kejuan SUN, and Xingwen TU

- 36 -