Zhang Tianshu

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In this paper we investigate the impact of incremental risk caused by 2008 financial crisis upon the service fee charged by agents. Using public statistic data, we find that operational risk of export oriented firm increases as a result of the financial crisis and audit fee is therefore charged more by auditors. However, for non-export oriented firms there(More)
In this paper we investigate effect of the risk caused by 2008 financial crisis on audit fees between state owned enterprises (SOEs) and private firms. Using China's listed company data, we find that firm operational risk increases as a result of the financial crisis and private companies are therefore charged more by auditors. However, for SOEs the risk(More)
Introduction: The Beal’s Conjecture was discovered by Andrew Beal in 1993. Later the conjecture was announced in December 1997 issue of the Notices of the American Mathematical Society. Yet it is still both unproved and un-negated a conjecture hitherto. Abstract First we classify A, B and C according to their respective odevity, and ret rid of two kinds(More)
Whether firms should use markets or produce internally has long been in academic debate. We construct a mathematical model and empirically analyze how firm reputation impacts transactions under China's transitional economy. We find that reputed firms prefer market transaction more than internal production since they can benefit from contracting in less cost(More)
In this paper we investigate industrial determinants of business group. It is found that industrial capital intensity, growth, risk and competition all influence group formation. Specifically, business group is more prevalent in capital intensive industry; industry growth also helps construct group structure; further, business group more likely exist in(More)
Business complementarity widely exists in the economy, the difficulty in scientifically measuring it limits our knowledge to it. In this paper, we construct a complementarity measure by using IO table and investigate the performance of business complementarity. It is found that SOEs are more complementary than private firms, and mining is the most(More)
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