{"id":{"repo_id":"unr","oai_identifier":"oai:scholarwolf.unr.edu:11714/11881"},"canonical_url":"https://search.dev.ndltd.org/etd/unr/oai:scholarwolf.unr.edu:11714/11881","repository":{"repo_id":"unr","name":"University of Nevada - Reno","base_url":"https://scholarwolf.unr.edu/server/oai/request"},"display":{"title":"Three Essays on Sustainable Economic Development: Experimental and Empirical Evidence from Financial Markets, the Gambling Industry, and Entrepreneurship","abstract":"This dissertation, “Three Essays on Sustainable Economic Development: Experimental and Empirical Evidence from Financial Markets, the Gambling Industry, and Entrepreneurship,” investigates how institutional design, corporate strategy, and policy interventions can promote sustainable and inclusive economic outcomes across distinct yet interconnected domains. Combining laboratory experimentation with empirical analysis, the three essays provide causal and quantitative evidence on mechanisms that influence participation, profitability, and entrepreneurial activity.The first essay examines whether behavioral market design can simultaneously expand stock market participation and reduce investor wealth inequality. Using a controlled laboratory experiment with a 2 × 2 design, the study shows that commitment mechanisms and narrow framing increase equity investment while reducing wealth dispersion, without compromising overall returns. These findings highlight the role of behavioral interventions in improving financial inclusion and mitigating inequality in capital markets. The second essay analyzes the impact of non-gaming diversification on firm performance in Macau’s casino industry. Drawing on firm-level and government data from 2010 to 2019, the results demonstrate that expanding into non-gaming activities significantly enhances profitability, including net profit margins and returns on assets. The findings underscore the importance of diversification strategies for achieving sustainable growth in highly specialized industries. The third essay explores how compensation methods in housing demolition affect entrepreneurship in China. Using data from the China Household Finance Survey and a two-way fixed effects model, the study finds that cash compensation increases entrepreneurial activity by alleviating liquidity constraints. This effect is particularly strong among urban households and in economically developed regions. Taken together, these essays contribute to the literature on sustainable economic development by demonstrating how behavioral design, corporate diversification, and policy-induced liquidity can foster broader participation, enhance firm performance, and stimulate entrepreneurial activity. The findings offer actionable implications for policymakers and practitioners seeking to balance efficiency, equity, and long-term economic sustainability.","abstract_html":"This dissertation, “Three Essays on Sustainable Economic Development: Experimental and Empirical Evidence from Financial Markets, the Gambling Industry, and Entrepreneurship,” investigates how institutional design, corporate strategy, and policy interventions can promote sustainable and inclusive economic outcomes across distinct yet interconnected domains. Combining laboratory experimentation with empirical analysis, the three essays provide causal and quantitative evidence on mechanisms that influence participation, profitability, and entrepreneurial activity.The first essay examines whether behavioral market design can simultaneously expand stock market participation and reduce investor wealth inequality. Using a controlled laboratory experiment with a 2 × 2 design, the study shows that commitment mechanisms and narrow framing increase equity investment while reducing wealth dispersion, without compromising overall returns. These findings highlight the role of behavioral interventions in improving financial inclusion and mitigating inequality in capital markets. The second essay analyzes the impact of non-gaming diversification on firm performance in Macau’s casino industry. Drawing on firm-level and government data from 2010 to 2019, the results demonstrate that expanding into non-gaming activities significantly enhances profitability, including net profit margins and returns on assets. The findings underscore the importance of diversification strategies for achieving sustainable growth in highly specialized industries. The third essay explores how compensation methods in housing demolition affect entrepreneurship in China. Using data from the China Household Finance Survey and a two-way fixed effects model, the study finds that cash compensation increases entrepreneurial activity by alleviating liquidity constraints. This effect is particularly strong among urban households and in economically developed regions. Taken together, these essays contribute to the literature on sustainable economic development by demonstrating how behavioral design, corporate diversification, and policy-induced liquidity can foster broader participation, enhance firm performance, and stimulate entrepreneurial activity. The findings offer actionable implications for policymakers and practitioners seeking to balance efficiency, equity, and long-term economic sustainability.","abstract_has_math":false,"creators":["Luo, Qizhou"],"institution":null,"degree_name":null,"degree_level":"Doctorate Degree","degree_discipline":null,"degree_department":null,"school":null,"contributors":[],"advisors":["Guerrero, Federico","Song, Shunfeng"],"committee_chairs":[],"committee_members":["Guerrero, Federico","Song, Shunfeng","Pram, Kym","Sundali, James","Liu, Chunlin"],"year":2026,"date_issued":"2026","date_published":"2026","updated_at":"2026-07-27T21:48:09Z","subjects":["Asset Allocation","Behavioral Finance","China","Entrepreneurship","Gambling Industry","Sustainable Development"],"languages":["en_US","English"],"rights":[],"rights_urls":[],"identifier_entries":[]},"links":{"outbound_url":"https://scholarwolf.unr.edu/handle/11714/11881","outbound_label":"Repository record","outbound_source":"dc:identifier.uri"},"metadata_groups":[{"id":"people","label":"People","entries":[{"key":"dc:contributor.advisor","label":"Advisor","values":["Guerrero, Federico","Song, Shunfeng"]},{"key":"dc:contributor.committeemember","label":"Committee Member","values":["Guerrero, Federico","Song, Shunfeng","Pram, Kym","Sundali, James","Liu, Chunlin"]},{"key":"dc:creator","label":"Author","values":["Luo, Qizhou"]}]},{"id":"academic_context","label":"Academic Context","entries":[{"key":"dc:date","label":"Dc Date","values":["01/01/2026"]},{"key":"dc:date.accessioned","label":"Dc Date Accessioned","values":["2026-06-25T16:20:51Z"]},{"key":"dc:date.available","label":"Dc Date Available","values":["2026-06-25T16:20:51Z"]},{"key":"dc:date.issued","label":"Date","values":["2026"]},{"key":"dc:type","label":"Dc Type","values":["Dissertation"]},{"key":"thesis:degree_level","label":"Degree Level","values":["Doctorate Degree"]}]},{"id":"subjects_keywords","label":"Subjects and Keywords","entries":[{"key":"dc:subject","label":"Dc Subject","values":["Asset Allocation","Behavioral Finance","China","Entrepreneurship","Gambling Industry","Sustainable Development"]}]},{"id":"language_rights","label":"Language and Rights","entries":[{"key":"dc:language","label":"Dc Language","values":["English"]},{"key":"dc:language.iso","label":"Language (ISO)","values":["en_US"]}]},{"id":"identifiers","label":"Identifiers","entries":[{"key":"dc:identifier.uri","label":"Identifier URI","values":["https://scholarwolf.unr.edu/handle/11714/11881"]}]},{"id":"additional","label":"Additional Metadata","entries":[{"key":"dc:description.abstract","label":"Abstract","values":["This dissertation, “Three Essays on Sustainable Economic Development: Experimental and Empirical Evidence from Financial Markets, the Gambling Industry, and Entrepreneurship,” investigates how institutional design, corporate strategy, and policy interventions can promote sustainable and inclusive economic outcomes across distinct yet interconnected domains. Combining laboratory experimentation with empirical analysis, the three essays provide causal and quantitative evidence on mechanisms that influence participation, profitability, and entrepreneurial activity.The first essay examines whether behavioral market design can simultaneously expand stock market participation and reduce investor wealth inequality. Using a controlled laboratory experiment with a 2 × 2 design, the study shows that commitment mechanisms and narrow framing increase equity investment while reducing wealth dispersion, without compromising overall returns. These findings highlight the role of behavioral interventions in improving financial inclusion and mitigating inequality in capital markets. The second essay analyzes the impact of non-gaming diversification on firm performance in Macau’s casino industry. Drawing on firm-level and government data from 2010 to 2019, the results demonstrate that expanding into non-gaming activities significantly enhances profitability, including net profit margins and returns on assets. The findings underscore the importance of diversification strategies for achieving sustainable growth in highly specialized industries. The third essay explores how compensation methods in housing demolition affect entrepreneurship in China. Using data from the China Household Finance Survey and a two-way fixed effects model, the study finds that cash compensation increases entrepreneurial activity by alleviating liquidity constraints. This effect is particularly strong among urban households and in economically developed regions. Taken together, these essays contribute to the literature on sustainable economic development by demonstrating how behavioral design, corporate diversification, and policy-induced liquidity can foster broader participation, enhance firm performance, and stimulate entrepreneurial activity. The findings offer actionable implications for policymakers and practitioners seeking to balance efficiency, equity, and long-term economic sustainability."]},{"key":"dc:format","label":"Dc Format","values":["PDF"]},{"key":"dc:title","label":"Title","values":["Three Essays on Sustainable Economic Development: Experimental and Empirical Evidence from Financial Markets, the Gambling Industry, and Entrepreneurship"]}]}],"canonical_facts":{"dc:contributor.advisor":["Guerrero, Federico","Song, Shunfeng"],"dc:contributor.committeemember":["Guerrero, Federico","Song, Shunfeng","Pram, Kym","Sundali, James","Liu, Chunlin"],"dc:creator":["Luo, Qizhou"],"dc:date":["01/01/2026"],"dc:date.accessioned":["2026-06-25T16:20:51Z"],"dc:date.available":["2026-06-25T16:20:51Z"],"dc:date.issued":["2026"],"dc:description.abstract":["This dissertation, “Three Essays on Sustainable Economic Development: Experimental and Empirical Evidence from Financial Markets, the Gambling Industry, and Entrepreneurship,” investigates how institutional design, corporate strategy, and policy interventions can promote sustainable and inclusive economic outcomes across distinct yet interconnected domains. Combining laboratory experimentation with empirical analysis, the three essays provide causal and quantitative evidence on mechanisms that influence participation, profitability, and entrepreneurial activity.The first essay examines whether behavioral market design can simultaneously expand stock market participation and reduce investor wealth inequality. Using a controlled laboratory experiment with a 2 × 2 design, the study shows that commitment mechanisms and narrow framing increase equity investment while reducing wealth dispersion, without compromising overall returns. These findings highlight the role of behavioral interventions in improving financial inclusion and mitigating inequality in capital markets. The second essay analyzes the impact of non-gaming diversification on firm performance in Macau’s casino industry. Drawing on firm-level and government data from 2010 to 2019, the results demonstrate that expanding into non-gaming activities significantly enhances profitability, including net profit margins and returns on assets. The findings underscore the importance of diversification strategies for achieving sustainable growth in highly specialized industries. The third essay explores how compensation methods in housing demolition affect entrepreneurship in China. Using data from the China Household Finance Survey and a two-way fixed effects model, the study finds that cash compensation increases entrepreneurial activity by alleviating liquidity constraints. This effect is particularly strong among urban households and in economically developed regions. Taken together, these essays contribute to the literature on sustainable economic development by demonstrating how behavioral design, corporate diversification, and policy-induced liquidity can foster broader participation, enhance firm performance, and stimulate entrepreneurial activity. The findings offer actionable implications for policymakers and practitioners seeking to balance efficiency, equity, and long-term economic sustainability."],"dc:format":["PDF"],"dc:identifier.uri":["https://scholarwolf.unr.edu/handle/11714/11881"],"dc:language":["English"],"dc:language.iso":["en_US"],"dc:subject":["Asset Allocation","Behavioral Finance","China","Entrepreneurship","Gambling Industry","Sustainable Development"],"dc:title":["Three Essays on Sustainable Economic Development: Experimental and Empirical Evidence from Financial Markets, the Gambling Industry, and Entrepreneurship"],"dc:type":["Dissertation"],"thesis:degree_level":["Doctorate Degree"]},"updated_at":"2026-07-27T21:48:09Z"}