Business groups and profit redistribution: A boon or bane for firms?

This article examines the phenomenon of profit redistribution in Indian business groups and relates redistribution with the underperformance of group-affiliated firms relative to unaffiliated firms. The study also documents that profit redistribution is more pronounced in groups of large sizes and high levels of corporate control. The relative underperformance of affiliated firms persists even after controlling for other explanations such as corporate diversification and resource transfers to unlisted firms. The empirical results of the study lend support for the inefficient profit redistribution explanation of the “business group discount”.     

Erdos＇ 2009 net profit down 3%

Inner Mongolia Eerduosi Cashmere Products Co. Ltd （Erdos）, a Chinese cashmere products maker, said April 8 its 2009 net profit fell 3.24 percent year on year on the global economic downturn.     

ICBC： profit 35.2% ↑in2008

The Industrial and Commercial Bank of China （ICBC）, the world＇s largest bank by market value, had become the most profitable bank in the world by posting a 35.2 percent rise in after-tax profits last year, the ICBC said on March 25.     

Sinopec＇s net profit up 332.8% in H1

A consortium led by South Korea＇s Daewoo International will invest about US$5.6 billion to develop Myanmar gas fields as part of a 30- year natural gas supply deal with China, a group member said on Aug.25.     

China construction Bank： net profit 34.1% ↑ in2008

China Construction Bank reported a net profit of RMB 92.6 billion （US13.6 billion） in 2008, up 34.1 percent year on year, with earnings per share up 33.3 percent at RMB 0.4, the bank said on March 27.     

Bank of Chill net profit： 14,41%↓Q1

Bank of China,the country＇s third largest lender by market value,said on April 28 its first-qurter net profit fell 14.41 percent from a year ago on write-downs of sub-prime-related assets.     

China Telecom＇s net profit down 27.5% in H1

China Telecom Corp, Ltd., China＇s largest fixed line service provider, said on August 27 that net profits fell 27.5 percent from a year earlier in the first half of this year on losses of fixed-line subscribers and increased costs on mobile services. Net profits stood at RMB 8.41 billion （US$1.23 billion U.S. dollars） in the first half, excluding gains from fees collected from installation of fixed lines. Earning per share was RMB 0.1, the company said in its statement to the Hong Kong Stock Exchange. Revenue rose 14.8 percent year on year to RMB 102.55 billion from January to June. The company said it didn＇t plan to pay an interim dividend, but would consider the matter at the end of the year.     

Net profit of China＇s largest property developer up 30% in first nine months

China Vanke, the country＇s largest property developer by market value, said on October 25 that it raked in a net profit of RMB 2.96 billion （US$433.38 million） in the first three quarters of this year, up 29.9 percent year on year.     

China＇s coal ouput up 8.7% in H1 ,profit growth sharply down

China＇s coal production continued to ease in the first half of this year on flat domestic demand amid the economic slowdown.     

蒙恬笔for palm/for WinCE

蒙恬笔for palm/for WinCE是蒙恬公司开发的基于PDA的Palm版和WinCE版的中文手写识别软件,另使用者能够走到那里就写到那里。辩识核心比较独特,操作界面相对友善,让使用者享受PDA书写乐趣。     

Expect for Growth and Prepare for Challenges

Hong Kong has sailed through several economic crises while undergoing economic adjustment since its return. However, industrial trade has been a firm force driving Hong Kong's economy through the past decade. Over the past 10 years, Hong Kong's total trade volume has grown from HKD 2.9 trillion in 1997 to HKD 5 trillion in 2006, representing a remarkable increase of 70%. In spite of economic twists and turns in Hong Kong, its foreign trade has maintained continuous growth. Especially over this decade, foreign trade has made noticeable contribution to Hong Kong's economic development. But where will Hong Kong's foreign trade stand in 10 years' time? And what will Hong Kong's advantages lie in the future?     

Demand for clean energy calls for closer cooperation

The surging demand for natural gas in Asia calls for better co-operation and integration of ASEAN members and China, the Republic of Korea and Japan, officials attending the First ASEAN--3 Natural Gas Forum said Monday.     

Prepared for Win

In 2004,there was a famous trail in U.S.,involving a Chinese enterprise. One of the top 500 companies in America-Leviton Manufactur- ing Co.Inc.brought patent infringement lawsuits in four different district courts against four distributors of the General Protecht Technology Group Inc,a Chi- nese manufacturing company.After 3 years,on July 10,2007,Federal District of New Mexico Judge awarded summary judgment of non-infringement,in favor     

Perspectives for 2004

The outlook for China‘s economy this year looks even brighter than in 2003,according to a host of officials, econo mists and international organizations.     

Eat for Health

Chinese food therapy (食疗 Shí liáo) is a practice in the belief of healing through the use of natural foods instead of medications.Chinese food or nutrition therapy,is a modality of traditional Chinese medicine,as opposed to evidencebased medicine.