The Infona portal uses cookies, i.e. strings of text saved by a browser on the user's device. The portal can access those files and use them to remember the user's data, such as their chosen settings (screen view, interface language, etc.), or their login data. By using the Infona portal the user accepts automatic saving and using this information for portal operation purposes. More information on the subject can be found in the Privacy Policy and Terms of Service. By closing this window the user confirms that they have read the information on cookie usage, and they accept the privacy policy and the way cookies are used by the portal. You can change the cookie settings in your browser.
The study aims to judge the influencing factors and degrees of enterprise operation on enterprise value. The paper chooses China listed steel companies as the analytical objects and establishes a structural equation model guided by the theory of enterprise value maximization, to explore the effects of operating aspects on three dimensions of enterprise value which are enterprise's interest, stockholder's...
In recent years, with the rapid development of small and medium-sized enterprises in China, the partial enterprises have been constructed to be the new power to promote the domestic economic growth. However, due to the particularity of organization structures, corporate standards and business risks, the participation of VC and PE institutions is very important for the development of enterprises. This...
Since China's reform and opening up, the rapid development of processing trade has made positive contributions to China's economic development. Development of processing trade in China is mainly affected by two factors. One is the low wages in enterprises engaging in processing trade, the other is the undervalued RMB exchange rate. This paper aims to reveal the respective effect of the two factors...
This paper develops a new analytical framework account for the determinants of employment shares between industries in China. Empirical evidence shows that the first industry has the lowest TFP growth rate; the third industry is the second. The labor force would flow into the sector with lower growth rate of TFP if the price elasticity of demand is low. The employment share in the first industry would...
In this paper, we construct an open-economy dynamic stochastic general equilibrium (DSGE) model to study the impact of the technology shocks on monetary policy in China. We find technology shocks have a more significant and direct impact on both monetary policy transmission channels and targets in China. It is necessary to pay close attention to technology shocks in making monetary policy and respond...
Based on the statistical data released by Henan Statistical Bureau in China, over the period 2000-2008, this paper empirically investigates the relationship between economic growth and industry structure including primary industry, secondary industry, and tertiary industry using the compensative GM (1, N) model in the grey theory. This paper applies the Principle of Least Square Method to estimate...
This article uses the provincial panel data of large and medium-sized industrial enterprises in China in1999-2007, exploiting growth regression method, to empirically study the relationship between capital deepening, the heterogeneity of technological input and growth of labor productivity. The results showed that: capital deepening explains 50% of the growth in labor productivity; R&D not only...
Focusing on behavioral corporate finance, we argue that personal characteristics of chief executive officers, in particular overconfidence, can account for the widespread distortion of overinvestment in China. Based on the data of Chinese listed companies from 2004-2008, we study the relationship between managerial overconfidence and corporate overinvestment. The main result is that managerial overconfidence...
Crash of capital market in the past showed that capital market isn't always rational and efficient. The investment attitude of traders and investment environment are main factors influencing on stock prices. Empirical analysis on capital market of China indicates that consistency of the interacting model between theory and practice is rather well, and discovers that the investment attitude of traders...
This paper analyses the impact of debt on corporate investment under the framework of duplicate soft budget constraint among the government, banks and firms in China. I find that in the corporate with low growth opportunity and high CFO, it shows significantly negative relationship between debt and investment in non-state-owned company. But in state-owned company it doesn't. There is a significantly...
The influences of the price level, trade and velocity of money circulation of fictitious economy on money supply appeared gradually. Empirical analysis of the influences of China' s fictitious economy on money supply was given by using the monthly data from April 1998 to December 2008 based on the actual development of Chinese economy and theory of money demand. The results show that there is cointegration...
The relationship between financial development and economic growth has long been a topic of intense interest and debate in economic literature. Prior related research documented that financial development accelerate the economic growth. This paper empirically examines the impacts of financial development and marketization process on firm's external financial constraints by investigating whether financial...
One of the main purposes of Chinese ldquogoing outrdquo strategy is to get the access to overseas advanced technology and enhance Chinese firmpsilas technological innovation capability. As an integral part of ldquogoing outrdquo strategy, outward foreign direct investment (FDI) can facilitate technology spillover into home country through R&D resources sharing mechanism, one-way technology communication...
This paper uses China's service industry data to analyze the technology spillover effects of China's service industry from service trade. The results show that the development of China's service trade produces technology spillovers. And then this paper makes relevant policy recommendations on making great efforts to develop service trade.
The expressway system expanses rapidly in China, and needs huge amount of investment to support the development of the system. During the decision-making, the investors require accurate quantitative analysis with proper model. The problem of expressway investment is embedded with numerous uncertainties due to changing in social, economic and environmental contexts. We can solve this problem with a...
A lot of empirical studies have been done on corporate dividend policy using firm-data, mostly for the US but seldom for emerging markets. In China, corporate dividend policy is still a new phenomenon. Based on the Signaling Theory (Lintner, 1956), two models are established to examine the relationship between corporate dividend policy and financial performance of Chinese listed companies. Sample...
This article uses the data from the FDI in China's service industry to analyze the service industry using the foreign direct investment's technology spillover effect on China's service industry. The results show that the development of FDI in China's service industry exists the technology spillovers. And then this paper proposes some related policies and suggestion that China should open up the service...
The purpose of the study is to investigate the relation between government expenditure and private investment in China during 1978 to 2004. To this end, effects of three categories of government on private investment are examined within the cointegration and error-correction framework. The empirical results show that government investment expenditure crowds out private investment in the short-term...
The volume of foreign direct investment (FDI) in China kept on increasing after open and reform policy. But its regional distribution were screwed and had distinct spatial characteristics .This paper examined regional disparity of foreign direct investment in China from 1984 to 2003 among four macro-regions, which was eastern ,northeastern, middle and western regions divided with regional policies...
Nowadays, US foreign direct investment (FDI) has become not only one of material resources for Chinapsilas foreign capital introduction, but also important way to absorb advanced technology and management experience. This paper is an empirical research on the interrelation between the US FDI in China and Sino-US economic growth, adopting Johansen cointegration test, the Vector Error Correction Model...
Set the date range to filter the displayed results. You can set a starting date, ending date or both. You can enter the dates manually or choose them from the calendar.