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This paper examines the dynamic impact effect of FDI on export and import in coastal and inland China based on dynamic panel data over the period 1992–2005. General method of moments (GMM) estimation is used to solve endogenous problem because the lagged dependent variable is one of independent variables. The results indicate the current period FDI has a positive impact on export in the coastal while...
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...
This paper pay attention to the hot issue about economic growth mode's change and logistics industry's upgrade in today's society. We begin by describing the practical importance to the transformation and upgrade of China's modern logistics industry, and then survey the literature and accessing to identify four key factors: human resources inventory, market capacity, the manufacturing intensity and...
China's resource-based enterprises encounter various risks in internationalization, among which cultural risk is one of the most significant risks. This paper attempts to build mathematical risk models with formation mechanism, probability and its impact on international operation to effectively predict, identify and monitor cultural risk of China's resource-based enterprises internationalization,...
In this paper, We adopt VAR model to estimate the technology sourcing effects of China's ODI on its domestic productivity growth and the contribution of two sources of productivity growth - technological progress and efficiency change, respectively. We examine these with data from China's direct investment in 8 developed countries during 1991 and 2007. We find the ODI to be strongly beneficial to...
This paper uses the dependence on foreign trade as the index of internationalization degree. It sets up the knowledge production function of regional technology innovation output, and does econometric analysis by using panel data of 30 provinces and autonomous in China. The empirical analysis suggests that internationalization is an important factor of influencing the regional technology innovation...
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...
Based on the statistics of Tianjin from 1980 to 2007, this paper analyzes the relationships between Tianjin's export trade and the four factors such as FDI, FDI stock, trading partners' GDP and Tianjin's GDP by cointegration test and Granger causality test. The paper also uses impulse response function and variance decomposition method to measure the dynamic effect of these four factors on Tianjin's...
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...
Arable land has been decreasing due to rapid population growth and economic development as well as urban expansion. To obtain a better understanding of controlling land use and to design mechanisms to ensure sustainable land management, an accurate prediction of arable land is a key issue fundamentally. In this study, artificial neural network (ANN) model is applied to estimate the arable land change...
This paper attempts to investigate the relationship between power plant investment, electricity production and economic growth in China, and forecasts at least 5 years, using modern econometrics techniques and software for the period 1980-2009. The paper applies unit root test, Johansen cointegration test and vector error correction model for the past 30 years data, which include GDP, power industry...
The paper constructed the data envelope analysis input and output index system of coal mine safety investment. Adopting the method to make the empirical analysis of a mining group safety investment efficiency, the results show: the group safety investment efficiency conforms to China coal industry regularity; 2005, it should reduce the number of workers, strengthen the safety management, at the same...
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 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...
This paper analyzes the growth trajectory of communication, computer and other electronic equipment (CCEE) industry over the period of 1991-2006 by Simple Logistic Growth Model and Bi-logistic Growth Model, the analytical results indicate that there are two different growth trajectories among them. The sub-industries belonging to the second trajectory have Granger Casualty relation with software industry...
In this paper, we calculate the coal efficient utilization ratio (CEUR) of 29 regions in China from 1995 to 2006, by applying data envelopment analysis (DEA) based on the regional own production frontier. And three inputs (labor, capital stock and coal utilization amount) and one output (GDP) are chosen for DEA. Results show that, the more developed area is, the higher CEUR is. The eastern, central...
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...
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...
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