香港新一轮经济转型及其对深圳经济的影响

1997年香港回归后，由于亚洲金融风暴的冲击，香港经济面临严峻挑战，开始逐渐加快了经济转型步伐和新一轮的产业结构调整，并在以下方面取得了大的突破：一是以积极发展创新科技产业为经济培育新的增长点，二是一些传统服务业逐步衰退或逐步向外转移，专业服务业，高科技服务业以及社区服务业等迅速发展，由于香港经济的发展及其不断辐射可推动深圳经济持续的发展和壮大，因此香港经济的复苏及转型将为深圳经济带来新的商机。     

招行这3年

中国本土最好的零售银行招商银行距离自己的梦想似乎又近了一步。 3月20日，招商银行行长马蔚华前往香港德辅道中永隆银行总部，去给招商银行集团第一家海外私人财富管理中心剪彩。这里地处寸土寸金的中环，在它不远处，就是汇丰银行和恒生银行在香港的总部大厦，周边更是林立着花旗银行、渣打银行和中国银行等银行的大招牌。     

CEPA对香港制造业的影响

CEPA是中国大陆与香港在WTO和“一国两制”的原则和框架下做出的制度安排,对香港的经济发展和结构转型具有重要意义和深远影响。本文在分析香港制造业面临的问题基础之上着眼于分析CEPA对香港制造业的影响。CEPA的签定将会为重振香港制造业提供契机,为其产业结构转型提供有利的条件。     

The development of information infrastructure in Hong Kong

Given its geographical advantage and economic integration with mainland China, Hong Kong has naturally become a major communications centre in the Asia-Pacific region. A growing number of international telecommunications and broadcasting companies are establishing business relations with Hong Kong. Hong Kong has also become the first place in the world to launch video-on-demand service. Although these companies are equipped with new technology, their developments have been impeded by the policy inertia of the Hong Kong Government. The objectives of this paper are to highlight some of the regulatory issues posed by the new technology and to make policy recommendations for the removal of the structural barriers impeding Hong Kong’s information infrastructure development.     

2010年上半年主要玩具展览会

国内部分 2010香港玩具展 时间：1月11日-14日 地点：香港会议展览中心 组织单位：香港贸发局。亚洲第一、全球第二大的香港玩具展已踏入第36届。2009年举行的第35届展会吸引了超过2000家来自19个国家的参展商。本届展会新添全新元素,“品牌廊”以及两个新产品展区将首度登场。香港文具展一如既往地同期举行,同时香港国际专利授权展及首届香港贸发局香港婴儿用品展亦同时同地举行。     

Up-grading and performance: the role of design, technology and business strategy in Hong Kong's electronics industry

This study tests the hypothesis that companies who move away from the traditional Hong Kong business model by adopting ‘up-grading’ strategies enjoy superior performance. A set of 14 variables is used to capture the dimensions of strategy, encompassing the business, technology and design domains. The results of both comparative and configurational approaches show that there are indeed performance benefits to be had. The broader implication is that Hong Kong manufacturing firms are beginning to escape the ‘iron fetters’ of a business model originally imposed on them by both material and ideational constraints, and to reap performance benefits as a result.Howard Davies is an Associate Dean in the Faculty of Business at the Hong Kong Polytechnic University. David Ko completed his DBA thesis under Prof. Davies's supervision.     

Perceptions of the political environment and top management orientations in Hong Kong public enterprises

Although the scope for unfettered private initiative in the Territory remains substantial, the degree of government economic intervention in Hong Kong is greater than is generally realised. Thus,inter alia and contrary to popular belief, public enterprise constitutes a noticeable segment of the local economy. In the present article, an attempt is made to draw some conclusions about this sector's characteristics on the basis of attitudinal data.Both authors are with the University of Hong Kong, Hong Kong     

Organisation development practices in Hong Kong: Current state and future challenges

This paper examines the current state of OD practices in Hong Kong. The results of two recent studies among major firms and among the managers of large firms are reported. It is found that Hong Kong firms put more emphasis on the human processual type of interventions, followed by strategic planning. Some firms are practising state-of-the-art OD activities, though the majority are still using traditional OD interventions. The current state of OD practice is then reviewed and implications for the future are discussed.The author is from the Department of Management, The Chinese University of Hong Kong. The author would like to acknowledge the financial support of UPGC Direct Grant of the Chinese University of Hong Kong for this project.     

Subcultures in Greater China: A Comparison of Managerial Values in the People's Republic of China, Hong Kong, and Taiwan

Managerial values in the three regions that form Greater China — Hong Kong, Taiwan, and the People's Republic of China (PRC) — were compared. It is posited that in addition to Confucian philosophy, political and economic systems also have significant effects on the values of Chinese managers. Results show that despite the economic integration in Greater China, managerial values have yet to be unified. Managers in Hong Kong, Taiwan, and the PRC are convergent in collectivism and uncertainty avoidance. On the other hand, managers in the PRC demonstrated higher power distance and less concern about deadlines and plans than in managers Hong Kong and Taiwan. Materialism is also greater in the PRC and Hong Kong than in Taiwan.     

Strategies of upward influence: A cross-national comparison of Hong Kong and American managers

This study compares American and Hong Kong Chinese strategies for advancing in organisations. Evaluated are the likelihood of using a particular strategy, the perceived risk associated with each strategy, and the ethical appropriateness of the strategy. Multivariate analysis of variance was used to determine overall differences. Univariate analysis of variance identified the particular strategies that differentiated the American and Hong Kong respondents. For example, the Hong Kong Chinese were more likely to use informal information networks. The Americans were more likely to employ more individual strategies, such as image management, in order to differentiate themselves from the competition in their organisation.     

Competition Policy under Laissez-Faireism: Market Power and its Treatment in Hong Kong

The paper describes the current competition policy framework in Hong Kong: how it came into existence, what business practices are prohibited, and how the enforcement system works. Recent cases in the telecommunications industry are used to illustrate the sectoral approach, a unique feature of Hong Kong's competition policy. We argue that a sectoral approach faces two fundamental drawbacks. First, due to having different ``rules of the game' for different sectors, the allocation of resources may be distorted in the long run. Second, since the relevant regulatory agencies perform dual roles both as competition policy enforcer and as traditional regulator of natural monopolies, the impartiality of their competition decisions may not be credibly conveyed to the public. We also address other specific problems associated with the sectoral approach, such as the exclusion of structural issues, narrow coverage of sectors, and the lack of public enforcement. We conclude that an overall competition law can better promote competition and economic efficiency in Hong Kong.     

Adjustment of Western Business Expatriates in Hong Kong Versus the Chinese Mainland

Business expatriates assigned to Hong Kong and the Chinese mainland, mostly from Western Europe and North America, responded to a survey assessing the extent of sociocultural and psychological adjustment. As expected, results showed that the expatriates were better socioculturally adjusted to Hong Kong than the Chinese mainland, whereas no difference was found for psychological adjustment between the two samples. Examining the adjustment of different nationalities it was found that French business expatriates were less well socioculturally adjusted both in Hong Kong and the Chinese mainland than their British and U.S. counterparts. Practical implications of these findings for business expatriates as well as for their firms are discussed and future avenues for extending research of this nature is explored.     

Capital investment practices: A survey of large corporations in Malaysia,Singapore and Hong Kong

This paper presents the results of a survey on the capital investment practices of large corporations in Malaysia, Singapore and Hong Kong. Our findings are fairly consistent with those from similar U.S. surveys. However, Malaysia, Singapore and Hong Kong companies seem to use multiple techniques, both simple and sophisticated, in evaluating investment projects, while U.S. companies appear to make great use of discounted cash-flow rate of return. Although Malaysia, Singapore and Hong Kong companies often make annual cash-flow forecasts over the life of a project, they do not undertake much analysis of risk involved in the project. Moreover, there is room for improving the practice of project implementation, the post-audit of implemented projects, and the use of post-audit data.Dr Wong Kie Ann is with the School of Management, National University of Singapore; Dr Edward J Farragner is with the Department of Finance, DePaul University, U.S.A.; and Mr Rupert K.C. Leung is with the Department of Business Management, Hong Kong Baptist College.     

Covered interest arbitrage with transaction costs: An evidence from the Hong Kong foreign exchange market

This paper deals with the effects of transaction costs on the efficacy of covered and one-way interest arbitrage under the linked exchange rate system in the Hong Kong foreign exchange market. First, we examine the arbitrage opportunities in the swap market and in domestic and foreign securities markets. Second, we measure the profitability of covered interest arbitrage and one-way arbitrage. Empirical findings have shown that allowing for transaction costs, covered interest arbitrage seems to entail less unexploited opportunities for profit. However, there exists a great deal of unexploited profit opportunities in one-way arbitrage in the Hong Kong financial market.We are grateful to two anonymous referees and the editor for their helpful comments on an earlier version of this paper.     

Participative management and its varying relevance in Hong Hong and Singapore

First, the process whereby developing countries become developed is discussed in terms of complexity, neutrality in social relations, and the achievement ethic. An examination of managerial attitudes in eight South-East Asian countries is followed by the results of a comparative study of manufacturing industry in Hong Kong and Singapore. It was concluded that in Singapore participation leads to higher productivity (r_s 0.71, p<0.05) but only because the context is mainly foreign. This relationship was not found in Hong Kong probably because Hong Kong enterprises remain non-bureaucratic, i.e. non-western. A more participative style of management requires radical changes in non-managers' expectations of their employers, as well as a significant increase in the extent to which superiors trust their subordinates. The evidence suggests that Asian managers (except those in Japan and, possibly, Singapore) favour an autocractic approach.Dr. S.G. Redding is Professor of Management Studies and Head of Department at the University of Hong Kong. Dr. S. Richardson formerly Head, Production & Industrial Engineering Department, Hong Kong Polytechnic is now in the School of Management, National University of Singapore.     

Portfolio diversification into the Asia-Pacific capital markets: A currency perspective

This paper examines the potential benefits of international investment in the Asia-Pacific capital markets. Using the viewpoints of U.S., Hong Kong and Japanese investors, the study shows that the returns from international investment within the region are more dependent upon the state of exchange rate changes. For the Hong Kong investors, despite the adopted pegged-rate between the Hong Kong dollar and U.S. dollar, the pattern of exchange returns from investing in the region resembles that of Japan rather than that of the U.S.     

Do the best new product development practices of US companies matter in Hong Kong?

Past research offers numerous “best practice” studies in New Product Development (NPD). One important characteristic of the earlier “best practice” studies is that they are primarily based on Western samples. Because management practices, cultures, and norms differ around the world it has been argued that the findings of the earlier studies will likely to be less applicable to firms managing NPD outside the West. This study fills this gap by surveying Hong Kong companies and comparing the NPD activities in Hong Kong with those in the US. The results revealed interesting similarities and differences between US and Hong Kong firms with regard to their NPD activities.