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This paper examines whether the level of debt financing affects the equity agency costs between shareholders and management and the one between controlling shareholders and minority shareholders. We use empirical research method to analyze a panel data sample of A share listed companies in Shanghai and Shenzhen Stock Exchange from year 2007 to 2009 and finds that companies with proper financing structure...
In this paper we apply a Data Envelopment Analysis (DEA) for measuring changes in total carbon emission efficiency between 1986 and 2008 across Chinese regions and then estimate driving forces of regional carbon emission performance (MCPI). A long-run relationship has been detected and the coefficients, estimated using Kao's method, are statistically significant mostly. Our results indicate the positive...
The investment value of the stock in small and medium enterprise(SME) board in China need to be analyzed based on the actual data. The 38 stocks has existed above 5 years when Chinese Small and medium-sized enterprise board was founded in 2004, and their the market data is proper to be analyzed. The long-term investment values of the 38 stocks which are bought at the initial public offering price...
The purpose of this paper is to explore the relationship between the property rights system and the financial development as well as the property rights system and economic growth in developing counties such as China. The paper uses statistical and econometric methods to analyze the finance data in Asia and Latin America, and economic data in China combined with property rights institutional changes...
Currently, there is no effective method in conducting research on the impact of environment and resources on China's industrial upgrading without innovation of industrial structural classification. This paper make the industries into four classes based on industries status by K-mean cluster analysis; then evaluate the ranking of various industry sectors under resource & environment constraints...
This paper expounds the basic situations of China's R&D industry through relevant data collection and statistical analysis. The main gaps and problems of China's R&D industry are identified through comparative analysis with developed countries and regions. Combining of relevant experiences in related industries at home and abroad, this paper puts forward R&D industry development policies...
This essay analyzes and represents the financial maturity of Guangdong from different angles, such as financial summation, financial structure and financial efficiency. The conclusion is the financial maturity of Guangdong is higher than other province, while the superiority is declining. Guangdong has to utilize the superiority, readjust the financial structure and promote the efficiency of financial...
Since China's accession to WTO at the end of 2001, its trade in services has developed rapidly. Services in trade will definitely become the trend of international trades. By statistics from 2002 to 2007, this paper studied influencing factors of China's trade in services. By establishing the grey incidence analysis model, the paper studied the degree of incidence between two sequences of system's...
The different regions have different characters in the foreign capital utilization of forestry. The paper divides the country into five forestry economic regions, and analyzes the scale and industry direction of forestry foreign capital of each region. In order to find out the weaknesses of each region, the representative provinces of each region are chosen, that is Heilongjiang Province, Henan Province,...
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 paper measures educational equity and efficiency in different regions of China by newly statistic data, and an empirical analysis of the relation between educational equity and efficiency is carried out. The major conclusions are as follows: There is an invert-U shape curve between educational equity and efficiency, namely educational efficiency has decreasing marginal effect to educational equity,...
As the result of the highly specialized division in the process of industrialization, modern logistics, due to its close relationship with agricultural and industrial production, exerts great influence on the growth of economy. The inland-located Chinapsilas middle region, with a role of connecting its surrounding areas, has geographical edge in developing logistics. In order to gain an insight into...
Logistics industry has been developing rapidly in China, but it is still a fledgling industry. Some Chinese scholars have made considerable researches on it, but the study in this field has been at the initial stage so far. On the basis of previous studies, we establish a more comprehensive and objective evaluation indicator system on the principles of all-around perspectives, close relationship and...
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