Brakes on Chinese Development: Institutional Causes of a Growth Slowdown

China has enjoyed spectacular economic growth since the 1980s. Economic models based on production functions typically suggest that China's rapid growth will continue at similarly high rates, but they ignore pressing structural and institutional constraints on its development. Among the problems identified in this paper, we point to an impending demographic shift that will greatly increase the number of economic dependents, the inadequate corporate legal foundation for indigenous private enterprise, and the discriminatory, defective and disruptive system of land tenure. These issues point to a pressing agenda of institutional reform to help China develop in future decades. Reforms have to concentrate on political structures, state efficiency, incentives to educate and train migrant workers, land tenure, and on private enterprise.     

Control and co-ordination of Japanese subsidiaries in China: problems of an expatriate-based management system

This paper analyses the international management control (IMC) system that Japanese multinational companies (MNCs) employ to co-ordinate the activities of their subsidiaries in China. It focuses on the role of Japanese expatriates in this IMC system and assesses their performance. In the process, it offers a comprehensive evaluation of the organizational fit of the Japanese IMC model within the current Chinese business environment. Taking Japanese firms as the subject, the analysis identifies areas of incongruity and explains the underlying reasons for problems with expatriate-focused IMC models. In doing so, this paper argues that the Japanese expatriate-based control system in China (as in many other parts of the world) continues to be characterized by an insider-outsider mentality that prevents a real internationalization of overseas operations in the 'transnational' sense.     

大股东控制与现金持有价值关系的经验研究

本文以沪深两市2005—2010年391家上市公司为样本,检验了大股东控制对中国上市公司现金持有价值的影响。研究发现,第一大股东持股比例与企业价值间是一种近似U型的非线性关系,第一大股东持股比例的临界点为45%。将第一大股东持股比例与现金持有量的交互项引入模型,回归发现,当第一大股东持股比例小于45%时,交互项的系数显著为负,大股东控制的壕沟效应占主导;当第一大股东持股比例超过45%时,交互项的回归结果不显著。没有证据表明第一大股东性质会对企业价值发挥显著影响。     

BOOK REVIEWS

No abstract available for this article.     

中国对外国际物流贸易趋势分析与研究

采用整体分析与模型分析相结合的方式完成中国对外国际物流贸易趋势分析工作.整体分析采用表格分析和曲线分析的方式完成,针对整体分析存在定量分析不足的问题,采用计量分析方法,对中国对外国际贸易物流展开模型化分析.通过建立两个计量模型,最终定量确定了中国对外国际物流贸易趋势之所在.同时,基于整体分析和计量分析的结果,从宏观角度出发,为中国物流企业如何面对今后的国际物流竞争提出了富有针对性的具体对策和建议.     

美国仲裁机构税收政策初探

仲裁机构是顺应解决商事争议的需要发展起来的。商事纠纷多发性、专业性及私密性等特点,决定了诉讼解决模式无法满足所有商事主体需要;现代司法资源的有限配置也需要多元化纠纷解决方式来分流案件。本文选取极具代表性的美国非营利性仲裁机构适用税收政策进行分析,介绍了美国非营利性仲裁机构的免税范围规定、资格认定、关联的私人利益与营利性所得的税收安排以及信息披露与监管制度安排,并在此基础上得出了在法规体系、税收优惠政策、区别对待及监管机制方面促进我国仲裁机构发展之有效经验。     

Updating Seminal Studies of Entrepreneurial Researchers in the 60's to the 90's

ABSTRACT

As early as the 1960's various researchers of African and Nigerian small business and entrepreneurship like P. Schatz, P. Kilby, J. Harris and M. Rowe, A. Ale, W. Nafziger, J. Wilde and others have been debating. Their argument is with attempt to trace and identify the factors which continue to stunt the growth and development of small and medium enterprises (SME's) and entrepreneurship in Africa and in Nigeria. The investigations carried out by these and other researchers on this subject should be accepted as pertinent and justifiable. This is especially so, in consideration of the abundant availability of both natural and mineral resources for use as raw materials within the continent. In addition, enormous amount of funds has been expended alongside immense attention and effort by governments towards the development of small-scale industries and entrepreneurship. A number of external factors therefore, like inadequate infrastructure, scarcity of machines, spare parts and equipment, lack of information, paucity of raw material supplies and problem with government policies and officials as well as cultural factors have been identified among the most serious obstacles. Internal factors such as poor organizational planning, problems of succession, inadequate re-investment of profits, lack of capital and poor managerial skills have also been noted by other researchers as main growth barriers. This research updated earlier work done by these different groups of researchers with reference to the small plastics manufacturing sector in Nigeria to see if there have been any changes in the last 10-30 years of study. The findings revealed that there has hardly been any significant difference in terms of improvement especially of external constraints observed between the 1960's and 1990's. However, the study found a number of progressive internal improvements being applied in other small plastic manufacturing businesses. Recently, some small plastics manufacturing entrepreneurs on their own initiative have learned to create and innovate various ways of coping with constraints facing their businesses independently.     

中国区域金融发展差异的财政因素研究——基于财政压力与地方政府干预视角的分析

本文从各区域财政能力与金融能力变动的对比入手,证实了我国各区域均存在＂强金融,弱财政＂现象。用财政压力指标替换财政能力指标,详细论证了区域财政压力增长率与区域FIR增长率之间存在的反向变动关系。最终说明了区域财政压力差异性造成地方政府干预金融资源市场化配置的激励不同,并最终导致区域金融发展速度差别这样一个连锁反应的存在。     

高校大学生考试违纪原因分析

近年来,高校大学生考试违纪现象呈现增长趋势,并且违纪学生接受处理后重复违纪现象频发。高校大学生考试违纪现象激增进一步凸显了高校教学管理工作面临着新形式与新挑战,对如何切实有效地加强高校大学生诚信教育也提出了新要求。