Essence and Main Influencing Factors of Enterprise＇s Sustainable Great-leap-forward Development

The essence of enterprise＇s great-leap-forward development is the great-leap-forward development of enterprise＇s productivity. The realistic enterprise ability based on certain enterprise resource is a prerequisite of enterprise＇s great-leap-forward development.     

Analysis of Effect of Property Rights on China＇s Reform

This paper analyzes the effect of property fights institution to reform of China from the angle of the three meanings of property fights. The second and the third meaning are emphasized. The thesis points out that state-owned enterprise is an institutional arrangement in the pre-reform age of China. The agent of state-owned enterprise just has part of the property fights to operate the property, So the institution is lack of stimulation to the agent. The result is low efficiency of state-owned enterprise. Furthermore, social resources are wasted, and the economy grows slowly. The conclusion is that clear and complete institution of property rights will guide resources to effective allocation, and accelerate the progress of reform in China.     

Empirical Analysis on Influencing Factors of Capital Structure ——The Case of China Real Estate Listed Companies

We choose 16 main financial indices reflecting the profitability, liquidity, velocity, growth, size, volatibility, collateral value of assets, and ＂tax shield effect＂ from the Annual Report （2000-2002） of 35 real estate listed companies in China. Then we extract six factors （as independent variables） from the index mentioned above Multi-regression was made between Asset-Liability Ratio and Ratio of Borrowed Capital to Assets （dependent variable） and six independent variables. It indicates that the velocity is significantly negatively related to the capital structure and the ＂tax shield effect＂ is positively related to the capital structure in some degree. The profitability, liquidity, growth, size, volatibility are almost not related to the capital structure.     

The Analysis on the Development of China＇s Foreign Direct Investment

Foreign Direct Investment （FDI） is one of the most important ways that China makes use of the foreign capital, an important path that Chinese enterprises participate in the international competition deeply and also an important means that our enterprises promote their competitive ability. Absolutely, our current foreign direct investment is still in the primary stage, short in quantity, and small in scale. This kind of situation is quite inappropriate to China＇s international positions and management level. The main problems existing in our foreign direct investment are analyzed in this paper, the relevant counter measures are also put forward.