In this paper, we examine an implicit channel of tunneling behavior, from related transactions. Using detailed information on the relationships in these transactions, we indicate three probable channels, the explicit channel, the implicit channel and the individual channel. Adding these three channels o...
(2021), we control for three characteristics: 1) bond age (Bond_age), bond size (Size), the presence of an explicit guarantee (Gura), and the availability of a bond put option (Put); 2) the LGFVs’ current ratio (Liquidity), total assets turnover (Turn), and administrative level ...
Using detailed information on the relationships in these transactions, we indicate three probable channels, the explicit channel, the implicit channel and the individual channel. Adding these three channels of tunneling and guaranteed loans, we find that explicit and implicit channel both have ...
On concepts: in most cases, the difference between implicit and explicit bias is more significant on social and controversial concept pairs (i.e., “Afri-American vs. Euro-American” and “China vs. America”) than the difference on unsocial concept pairs (i.e., “Insect vs. Flower” and...