Brief Introduction of U.S. Foreign Capital M&A Laws——Case Studies and Suggestions to China’s Construction of Foreign Capital M&A Legal Framework

Ⅰ.Case Studies 1.CNOOC-Unocal transaction On June 23,2005,the China National Offshore Petroleum Company,Ltd.(CNOOC),announced its intention to acquire Unocal,a California-based American oil company.Unocal owned oil reserves around the world and represented 0.8 percent of US oil production.1 Before CNOOC's involvement,Unocal was already in the midst of negotiation with Chevron,another California-based American oil company.     

Elderly Latinos in the U.S.: What Do They Know and Think About HIV/AIDS?

ABSTRACT

Previous research on efforts to change health related behaviors indicates that such change may be affected by an individual's knowledge and attitudes, sense of self-efficacy and of susceptibility, and the norms of his or her reference group. This paper presents results from analysis of responses to the National Health Interview Survey's questions about AIDS knowledge, attitudes, susceptibility and behavior, comparing older Latinos both to older non-Latino Americans and to younger Latinos. Data from the NHIS 1994 survey is analyzed; questions on AIDS knowledge and attitudes are investigated and the effects of age and ethnicity are compared.

The results demonstrate significant differences by ethnicity and age. While substantial majorities of all groups know the basic information about HIV transmission, of the four, older Latinos have the highest proportion of people with some inaccurate information.     

What is the potential growth rate of the U.S. economy,and how might policy affect it?

The answer to the question “What will future potential growth be?” is as important as it is unknowable. This paper attempts to predict future U.S. potential output growth by combining what is unknown (future productivity growth, the performance of the labor market) with what is known (the evolution of the age structure of the population). It does so in two ways. First, this paper uses the historical experience of potential labor productivity growth, labor force participation, and weekly hours to simulate a range of outcomes for future potential growth—finding a 90% confidence interval that ranges from 0.7% annual growth to 3.0% annual growth, centered by construction around the Congressional Budget Office projection of 1.8% annual growth. Second, the paper examines a range of specific economic policies that the Trump Administration might pursue in terms of their impact on economic growth both in the short run and over the next decade—finding that an outer bound of these policies could be plus or minus 0.5 percentage point on the annual growth rate, but that these policies would most likely subtract a small amount from growth.     

Movies and the Mystery of the Missing Trade: Is Hollywood Good for U.S. Exporters?

Research has shown that consumers have a preference for goods based on the origin of production. This is important because it suggests that, in some cases, even lowering trade barriers may not significantly increase trade flows. In particular, flows may be lower than are predicted by trade theories such as Heckscher-Ohlin. Despite evidence that home consumption bias exists in many countries, it is only recently that research has begun to examine the sources of this bias.

This article fills a gap in the literature by testing a model that addresses the source of this consumption bias. The paper's model incorporates consumers' exposure to foreign products and culture through media imports and tourist visits as factors affecting consumers' preferences for foreign products. Using panel data from 19 countries, the article's results support the hypothesis that lagged exports of U.S. movies have a positive impact on other U.S. exports. Some evidence is also found of a positive effect of tourist visits on U.S. exports.

Since U.S. media exports may generate demand for other U.S. goods and services, opening up foreign media markets should receive a higher priority in U.S. trade negotiations. Another interesting implication of the paper is that overall U.S. export losses resulting from media piracy may be lower than previously calculated, as the consumption of pirated media products may increase demand for other U.S. exports.     

U.S. intelligence system: model for corporate chiefs?

A fully dedicated intelligence support function for senior management is no longer a luxury but a necessity. Companies can enhance their intelligence capabilities by using the government model as a rough blueprint to structure such a program.     

What's Gender Got to Do with It? The Experiences of U.S. Women Entrepreneurship Students

The purpose of this case study was to understand the gendered experiences women students report while participating in a university entrepreneurship program. This qualitative study sought to shed light on some of the unanswered questions about women’s experiences by interviewing women entrepreneurship students and their faculty members at a university site. The data were analyzed through the lens of Acker’s theory of gendered organizations. From these data, themes were identified that can in turn help enrich entrepreneurship programs in the future.     

Social commerce: Is interpersonal trust formation similar between U.S.A. and Spain?

In social commerce, interpersonal trust when individuals communicate is key among the parties. The main objective of this study is to investigate how the consequent variables, “interpersonal trust” and “users’ intention”, are impacted by the antecedents of trust-building and cultural dimensions when people are engaged in social commerce. The research model is substantiated using data collected in the U.S.A. and Spain. While all the trust-building antecedents have significant positive impact upon trust, there are cultural differences between the countries. The findings can be of interest to global marketing managers and information officers.     

Why Have U.S. Prices Become Independent of Business Cycles?

This article analyzes the issue of price cyclicality from a Post Keynesian perspective. It shows that there are two key factors at the center of the mechanism for the sudden U.S. transition from counter‐cyclical to a‐cyclical price movement in the early 1980s. First, the cost pass‐through policy has been changed to ensure that the cyclical changes of input prices and/or labor productivity are absorbed more thoroughly and are thus reflected more frequently in profit markups than occurred prior to 1984. This relatively increased adaptability of the profit markups in the aggregate sense between the pricing periods cushions the direct effect of cyclical changes in the cost base on price cyclicality. Second, a structural change in the U.S. labor productivity's cyclical property has generated cost‐base stability during the post‐1984 period. Declines in hiring and firing costs and cutbacks in social security benefits have led the labor discipline effect to dominate the labor hoarding effect. This has allowed labor productivity to increase as the unemployment rate rises; thus, the cost base cyclicality has weakened, and prices have become less cyclical since 1984.     

Where Are We Going? Perceptions of U.S. Marketing Academics

This paper examines US marketing academics' perceptions of the most pressing issues for theory, practice and academia. The context is provided by an examination of individual and institutional demographic factors; how academics spend their time and what are their teaching/research interests. An analysis of the perceptions suggests there is a need to develop a more comprehensive marketing theory, as well as better integrate theory and practice. These outcomes appear to be limited by increased work pressures including the necessity of maintaining academic standards.     

China＇s Reaulation on the Amount of Registered Capital and the Period of. Investment for the Foreign Investors

China has specific regulations on the minimum registered capital and period of investment for the foreign investors to set up enterprises within the territory of the People＇s Republic of China.     

Butterfly Effect:From U.S.Wall Street to China's A-Share Market

Right after Lehman Brothers declared bankruptcy a series of bad news came one after another.Merrill Lynch was bought out.American International Group(AIG)was handed over to the U.S.government. Washington Mutual,the largest savings bank in the U.S.,was said to be looking for a buyer.In Rus- sia,stock exchange was forced to a suspension due to a record slump in 10 years in its stock market. It seems that the end of the Moon Festival this year marked the beginning of a global financial crisis,which     

U.S.to Continue Tightening Trade Policy on China——A review of the establishment of the U.S.Interagency Trade Enforcement Center

U.S.President Barack Obama signed an executive order on February 28,2012 to set up Interagency Trade Enforcement Center (ITEC) in a bid to coordinate with U.S.trade rights,and domestic trade laws enforcement matters.This can be seen as a more tightening protectionism sign for U.S.bilateral trade relation especially with China.As stated in the executive order,the purpose of the Center is to advance U.S.foreign policy and protect the national and economic security of the United States through strengthened and coordinated enforcement of U.S.trade right under international trade agreement and enforcement of domestic trade laws.     

Correction to: The impact of a U.S.–U.K. free trade agreement on workers: a CGE model with worker displacement

Business Economics -     

A U.S. Manufacturing Strategy for the 21st Century: What Policies Yield National Sector Competitiveness?

The national debate over the fate of U.S. manufacturing is back, with some asking the question: Is manufacturing dead? However, the U.S. manufacturing sector has been making a surprising comeback and added jobs in 2010 and 2011 following 12 straight years of declines. Utilizing economic data, coupled with qualitative manufacturing industry information, offers a unique opportunity for the authors to present a pragmatic and strategic national manufacturing strategy based on the realities of a continually evolving R&D/high-technology-based U.S. manufacturing sector.     

Exchange Rate Shocks and U.S. Services and Agricultural Exports: Which Export Sector is More Affected?

In this article, a vector autoregressive model is constructed with monthly data from 1992:1 to 2009:12 to investigate the exchange rate propagation mechanisms to real exports of U.S. services and agricultural sectors. Using plausible identification assumptions consistent with many open economy macro models, the results indicate that exchange rate shocks impact services exports more than they do on agricultural exports. Moreover, the shocks are more persistent on services relative to agricultural exports.     

How Ethical are U.S. Business Executives? A Study of Perceptions

Not much has been written about how the ethics of U.S. business executives are perceived by the American public, yet the perception of integrity is important to both businesses and their investors. This study examines the U.S. public’s perceptions of the ethics of American business executives using Gallup Poll data for the past thirty years. Organizations with unethical executives have trouble attracting investors, customers, and new managerial talent. They suffer lawsuits, market share deterioration, and often prison time for the once-revered leaders. This study also looked at the U.S.’s relative standing on the Corruption Perceptions Index and the Edelman Trust Barometer. Confidence in the ethics of the U.S. business executive remains fairly low on the Gallup Poll surveys and the U.S. has declined on the CPI and Edelman Trust Barometer.     

Capital flows to Asia and Latin America: Does institutional quality matter?

Using a sample of 28 emerging market economies from Asia and Latin America spanning 1990–2013, we show that the marginal effect of capital flows on growth is positive and contingent on the threshold level of institutional quality (IQ). The conditional effect of capital flows holds for both the income per capita growth and total factor productivity (TFP) growth. We also determine the different threshold levels of IQ at which the marginal effect of capital flows is positive. The overall level of IQ in the Asian countries is superior to the Latin American countries and requires a lower threshold level to exert any positive effect. While the same conditional effect of IQ holds in Latin America for TFP growth, this effect is reversed in Asia. For very high levels of IQ (91st percentile), the marginal effect of capital flows on TFP growth in Asia is almost negligible. The marginal effects also vary based on the composition of capital flows in each region.     

Paraguay and Mercosur: The Lesser of Two Evils?

ABSTRACT

This article examines Paraguay's experience with Mercosur in terms of its impact on economic growth, trade, investment, industrial competitiveness, and income distribution. Of particular interest is Mercosur's impact on the flourishing border trade taking place under the “regimen de turismo,” a special tax regime for consumer goods, especially electronics. The author concludes that while Mercosur has not brought all the benefits expected from membership in the customs union, being excluded from Mercosur might have been worse for the Paraguayan economy.