Alternative Investment Market: A Way to Promote Entrepreneurship

The aim of this paper is to investigate the relationship between firm performance after the IPO and its entrepreneurial orientation (EO). In our work we want to test if entrepreneurial oriented firms show a better market performance signalling that investors valuate it positively. To this purpose, we focus on a particular sample of entrepreneurial firms, i.e. companies that went public on the Alternative Investment Market (AIM) through IPO during the period from 1995 to 2006. Along the lines of Miller (Manage Sci 29:770–791, 1983), Covin and Slevin (Entrep Theory Pract 16:7–25, 1991) and Lumpkin and Dess (Acad Manage Rev 21:135–172, 1996), firms’ entrepreneurial orientation is measured in terms of risk taking, innovation and proactivity. Following the literature in management on investor valuation we use the percent price premium as dependent variable of our model. Our findings confirm a positive impact of entrepreneurial orientation on investors’ valuation. The results of this work underline the relevance of secondary markets, such as the AIM, as a valuable alternative to traditional financial institutions in providing capital to small and entrepreneurial companies.     

FDI促进国内投资的最优规模——理论模型与中国实证

本文首先构建了一个FDI影响国内投资的理论模型,说明存在一个最优的FDI规模,此时FDI对国内投资的促进作用最大。然后利用1985-2005年我国省区面板数据进行了实证检验。考虑到投资在不同地区之间的空间相关性,估计方法上采用最新提出的空间GM方法。结果发现:我国确实存在一个最优的FDI规模,约占GDP的6%;我国大部分省区的FDI小于这个最优规模,而FDI超过最优规模的省区主要集中在东部地区;从FDI对国内投资的长期效应来看,东部地区要低于中西部地区。     

促进贵州省创业风险投资发展的政策思考

完善的法律法规制度是创业风险投资业得以顺利、规范发展的基本保障。通过对国内促进创业风险投资发展的相关政策分析,建议要加快贵州省创业风险投资业发展,贵州省应尽快出台相关促进贵州创业风险投资发展的政策,并提出了政策的具体内容。     

加大财政投入构筑投资促进服务新体系

<正>财政在鼓励投资促进服务方面存在的问题(一)政策缺位目前财政在投资促进方面的扶持政策存在两种现象,一方面财政在招商引资方面的财税优惠政策泛滥;另一方面财政在投资促进服务方面的鼓励政策几近空白。各地在投资促进方面的财政扶持政策也仅局限于税收优惠、招商指标完成奖励、招商活动补贴等方面。没有在完善政策、加大投资、创新机制、强化监督等深层次上下功夫。     

打造外资牌促进东莞对外开放

利用外资对于东莞市国民经济的发展,经济结构的调整、产业结构的升级、生产技术的进步、出口业绩的提高和国际竞争能力的增强发挥了十分重要的作用。巩固现有的外资企业是进一步扩大利用外资的基础,是提高利用外资水平的一项重要工作。     

Foreign Investors Complaints Promote Improvements in Investment Environment

Recently, reports and comments on problems in Chinese investment environment by overseas media raised attentions and concerns. Financial Times of UK carried out a survey on March 23 under the title ＂Foreign Enterprises in China Having More Complaints＂, which said ＂Chinese governments excludes foreign-funded enterprises from some vigorous developing markets, which has already caused transnational corporations to complain more, especially on the implementation of protectionism actions in China.＂ At the end of July, Wall Street Journal reviewed complaints from foreign merchants in recent months on investment environment in China,     

Croatia:Promote More Exports to China

Croatia, a transitional country, is lo cated both in mid-Europe and Mediterranean, which boasts inborn geographical advantages. It is currently undergoing dynamic changes in its economic and social structure. Among the reform, it focuses on enlarging exports,especially the export to China, the world large and potential market. In this regard,recently, our report interviewed H.E.Boris Velic, Ambassador of Croatia to China.……     

Croatia:Promote More Exports to China

Croatia, a transitional country, is lo cated both in mid-Europe and Mediterranean, which boasts inborn geographical advantages. It is currently undergoing dynamic changes in its economic and social structure. Among the reform, it focuses on enlarging exports,especially the export to China, the world large and potential market. In this regard,recently, our report interviewed H.E.Boris Velic, Ambassador of Croatia to China.     

加大基础设施投资力度推进经济社会发展

突如其来的新冠肺炎疫情,对我国消费、出口等均形成冲击。在科学有序推动复工复产的工作中,积极扩大有效投资,加快重点项目建设是一步见效快、作用突出的先手棋。加快新型基础设施建设是一个重要亮点,在当前和今后一个时期具有特别重要的作用。加快推进基础设施建设需要做到:一是科学规划,突出重点;二是加强配套政策落实,创造良好环境;三是统筹解决资金需求;四是“软硬”协同发展。     

Investment Boom in China

China's economy grew 9.5 per cent in the second quarter from the same period a year earlier.This is the slowest pace in nearly two years which shows that the economy is shifting from fast growth driven by policy to healthy development and Chinese growth is holding up well. said Sheng Laiyun, spokesman for the National Bureau of Statistics. According to the International     

Foreign Investment Catalogues and Investment Environment in China

On 23 December 2008, the National De- velopment and Reform Commission （＂NDRC＂） and Ministry of Commerce （＂MOFCOM＂） of People＇s Republic of China jointly issued Catalogue of Foreign Investment Advantageous Industries in Central and Western China （＂Central and Western Catalogue＂）, which became effective on 1 January 2009. Tnis marks the second revision to the Central and Western Catalogue since its first promulgation in 2000 （the previous revision occurred in 2004）.     

中国促进低碳经济发展的财政政策研究

财政政策是政府促进低碳经济发展的重要手段。本文分析了中国支持低碳经济发展的财政政策措施、成效及当前面临的主要问题,提出了“十二五”期间我国运用财政政策支持低碳经济发展的目标,在此基础上,重点围绕节能降耗、清洁能源发展、发展低碳城市等支持低碳经济发展的主要方面具体深入地探讨了财政政策选择。     

China Investment Corporation Unveils Investment Plan

China's Vice Minister of Finance Li Yong disclosed plans for the China Investment Corporation (CIC) On November 7, dispelling rumors that China would try to buy out European and American companies in large numbers. Li said one third of CIC's capital would be used to purchase     

Polish Embassy Ready to Promote Economic Cooperations with China

Poland, a country in the Eastern Europe, has a traditional friendship with China. It was one of the first countries to recognize the new China in 1949. Despite the great changes during the past half century, the two countries are still enjoying the traditional friendship. At the beginning of the new year, China＇s Foreign Trade interviewed with H.E. Mr. Krzysztof Szumskir the Ambassador of Poland to China.     

Foreign Direct Investment in China

Summary

China has attracted the second largest amount of foreign direct investment in the world each year since 1993. Hundreds of thousands of foreign-invested enterprises are in operation in China. However, what drive the success or cause the failure of foreign investments is still not well understood. This paper critically examines one success factor, i.e., the importance of timing of marketing entry into China. It begins with a brief review of the literature on first-mover advantages and the recent empirical research. It then attempts to theorize on why timing of market entry matters in the context of foreign direct investment. Apart from drawing upon the four recent studies in this area, this paper focuses on the auto industry in China and the case of Volkswagen to illustrate the importance of early entry into an overseas market. It calls for foreign investors to seize the first-wave opportunities when the door is opened a certain sector. It pays in the long run both in terms of the market share position and profitability.     

Investment Projects in Western China

PDB Righ-voltage Drlvlng Clrcult Industrlalization Project 1. Project Implementation Agency Xi＇an Lanqi Technology Co., Ltd., founded in 2003 and registered in Xi＇an High-tech Industrial Development Zone, is mainly engaging in wireless, chip design, virtual device and video processing.     

我国高科技风险投资业存在的问题及对策

目前，我国高风险投资业存在诸多问题，应借鉴发达国家先进经验，尽快完善法律、法规及制度的建设，采取政策鼓励、开拓风险资本来源、引进风险投资人才、提供最佳撤出渠道及加强行业协会建设等策略，促进我国风险投资业的健康发展。     

Investment Projects in Northeastem China

Northern Scenery Feature Tourism Development Zone Project in Heilongjiang Province Name of project:Investment Promotion of Beer City in Songbei District,Harbin Project overview:In 2009,the municipal Party committee and municipal government of Harbin City decided to implement the development strategy ofNorth West Jumpand proposed to build seven centers which are administration center,technology center, financial center,culture center,education center,Olympic Sports Centre and tourist center etc,in which,t...