China Economic Quarterly 2017-2018（Volume 17）

Dr. Werner Jackstädt Best Paper Award for Chinese Economic and Business Studies

The China Economic Quarterly 2017-2018（Volume 17）Dr. Werner Jackstädt Best Paper Award for Chinese Economic and Business Studies goes to “Economic Policy Uncertainty, Implicit Guarantee and Divergence of Corporate Leverage Rat”, published in No.2, Volume 17, authored by Yang Ji from Xiamen University, Xu Wang(Presently working in China International Capital Corporation Limited), Yuyan Tan(presently working in SAFE Investment Center), and Yiping Huang from Peking University.（download the paper）

Yang Ji

Xu Wang

Yuyan Tan

Yiping Huang

Remarks from the Award Committee：

This feature is one of the first few studies capturing the divergence of leverage ratios in Chinese enterprises. They creatively employ the recent spike of Economic Policy Uncertainty to explain the increase of leverage in SOE and decrease of leverages in non-SOEs. Their findings carry on important policy implications for deleveraging in China, that the structure of leverage problem is non-ignorable and policy communications can help in the macro-deleveraging.

China Economic Quarterly 2017-2018（Volume 17）Dr. Werner Jackstädt Annual Best Paper Award Nominees:

Economic Policy Uncertainty, Implicit Guarantee and Divergence of Corporate Leverage Rat, Yang Ji, Xu Wang, Yuyan Tan,Yiping Huang, China Economic Quarterly, 2018, 17(2), pp. 449-470.（download the paper）

Introduction to the China Economic Quarterly Dr. Werner Jackstädt Best Paper Award for Chinese Economic and Business Studies

In order to encourage high-quality economic research, China Economic Quarterly set up the Annual Best Paper Award since its inception. Each year one paper is selected as the best paper from the volume published in that year. Starting in 2010, the award is renamed as Dr. Werner Jackstädt Best Paper Award for Chinese Economic and Business Studies, and from 2014 the prize is set to RMB 40,000 yuan.

The winner is decided by majority votes on the nominated papers from the award committee, which is comprised of the four editors of China Economic Quarterly and Prof. Dr. Carsten Herrmann-Pillath from the East-West Centre for Business Studies and Cultural Science, Frankfurt School of Finance & Management.

This award is financially sponsored by the Dr. Jackstädt Foundation and supported by The East West Centre for Business Studies and Cultural Science at Frankfurt School.

Dr. Jackstädt was an entrepreneur who had made outstanding contribution to the post-war German economic miracle. The mission of the Dr. Jackstädt Foundation is to support the research in the field of medicine and management science, and to help the development of Wuppertal, Dr. Jackstädt’s hometown (which is also the hometown of Engels).