The Year 2000 Survey Report on China''''s Private Corporations

ChinaBusinessTimesrecentlyreleasedtheYear2000SurveyReportonChina'sPrivateCorporations.Thelastsurveyonprivatecorporationsnationwidewasmadepublicin1997.TheYear2000SurveyReportonChina'sPrivateCorporations,byanalyzingtheexternalenvironmentfacedbyChina'sprivatecorporationsfordevelopmentoverthepastthreeyears,especiallymacropoliciesbytheChinesegovernmentforprivatecorporations,reachedaconclusionthatprivatecorporationsshowstronganimationandarestilladvancingatasteadypace.Herearesomeexcerptsfromthe…     

Chapter 11 and Asbestos: Encouraging Private Enterprise or Conspiring to Avoid Liability?

This paper explores the American bankruptcy system -- especially the Chapter 11 code -- which since 1978 has allowed insolvent companies the opportunity to restructure and reorganise with the benefit of court protection from creditors. Particular attention is focused on asbestos companies, such as Johns--Manville, which have been among the most consistent and controversial filers for bankruptcy under Chapter 11. The history of asbestos and Chapter 11 is explored, against the backdrop of the burgeoning asbestos crisis, caused by increasing mortality and litigation. Some of the business and ethical issues involved are highlighted by examining in detail a recent bankruptcy (Federal Mogul/T&N in 2001) that has implications in both Britain and America. Chapter 11 bankruptcy is evaluated, particularly in the light of the trend towards similar mechanisms of insolvency in the UK, Europe and the rest of the world. It is concluded that, certainly as regards the experience with asbestos, Chapter 11 offers an inefficient and inequitable method of rehabilitating or rescuing failing businesses.     

Global Microwave Oven Leading Enterprise Galanz Won China''''s Famous Brand

Global largest microwave oven manufac-turer Galanz goes front among the same tradeagain and won the title of China's famous brand.The information was known by our reporterfrom the List of China's Famous Brand Prod-ucts issued by China Famous Brand StrategyPromotion Committee.Businessmen inside and outside of the sametrade maintains generally that the Galanz mi-crowave oven winning China's Famous BrandProduct is beyond reproach. It is introduced thatthe annual production capacity of Gal…     

How Big Is the Gap Between China''''s East and West?

China's western region refers to Shaanxi, Gansu, Qinghai,Ningxia, Xingjiang, Sichuan, Chongqing, Yunnan,Guizhou, and Tibet, ten places in all, accounting for 56 percentof China's territory and with a total population of 285 million.The Development and Construction of China's WestRegionsThere are deposits of more than 120 kinds of minerals inChina's west regions, and some rare metal reserves there leadChina and even the world, and the west regions are superior inenergy, tourism and land …     

Okay Airways Co., Ltd.-First Private Enterprise in Chinese Airlines

According to the introduction of North China Bureau of CAAC, the operative certificate will be formally approved and issued by CAAC to the company on March 3, and the flight service will start on March 5.On March 3, 2005, the first private enterprise, Okay Airways Co., Ltd. obtained the certificate issued by Civil Aviation Administration of China (CAAC).     

Who Monopolizes China''''s Oil Price?

In recent years, oil prices have goneup many bines in China. What is the-cause of this? And what is the forcecontrolling China's oil price? To find outthe answer, Jiang Fan and Jia Liyan,correspondents from Economic Monthly,had an interview with Dr. Chen Huai, aresearch fellow with the State CouncilDevelopment and Research Chenter.Administrative Force Interferes withthe Oil Price Correspondent: Since December1998, China's oil price has gone up onsix occasions in succession, while the…     

When Do State-Owned Firms Crowd Out Private Investment?

This paper examines the conditions under which a state-owned firm with a political agenda strategically crowds out investment by a private firm. Employing reduced-form analysis, we show that strategic crowding out occurs if (i) the private firm regards investments as strategic substitutes, and (ii) private investment is undesirable from the state-owned firm’s perspective. We discuss how our analysis applies to real-world markets and argue that it provides an explanation for the ambivalent evidence on the effect of public on private investment: State ownership is neither necessary nor sufficient for crowding out to occur.     

The Performance of Chinese Private Firms in Coping with a Global Financial Crisis: Who Is Best Positioned?

Using organizational flexibility as a research lens, we investigate how private firms, especially SMEs, in China cope with the 2008 financial crisis. Testing data from a large sample of private firms (N=3,459) by difference-indifferences analysis, we find that firms with industrial diversification, geographic expansion and political connections perform better during the crisis than those without. These results are less affected by self-selection problems (as the abrupt crisis provides a natural experiment) and hold up against endogeneity and several other challenges in robustness tests. The findings offer important implications for researchers, business owners, policy makers and future research.     

China''''s Year of SUV:Who Were Dazzled?

In this month, another two SUV models have gone on the market. In today's Chinese auto market, themost booming market in the world, the only one competing car might be SUV - sports utility vehicle. Since the second half of last year when China's SUV market began to pose robust growth, someinsiders predicted boldly: the year 2003 will be China's "Year of SUV". Now the first half this year haspassed, the SUV market, as expected, witnessed a significant growth. In the first quar…     

Private Foreign Investment in India: Pain or Panacea?

Private foreign capital, whose presence in Indian industry was long regarded with concern and suspicion, is now presented as a panacea for India's poor industrial and export performance. This paper examines available evidence to compare the behaviour and performance of domestic and foreign‐controlled firms in India over the last five decades. It discusses the contribution of foreign capital to aggregate investment, balance of payments and economic growth. We assess the effects of government policy towards foreign investment, review recent changes, and outline implications for the future.     

How to Establish a Wholly Foreign Owned Enterprise in China?

Wholly foreign owned enter prises are permitted to regis ter in cases where at least half of their annual output is exported or if the nature of their operations relies heavily on advanced technology and the application of this high technology is beneficial to China. Approval to establish a wholly foreign owned enterprise is granted much more sparingly when compared to joint ventures.     

Take the Road of Conglomeration—An interview with Lin Ye,Deputy General Manager of the SINOCHEM's Enterprise Development Department

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Earnings Quality in Private SMEs: Do CEO Demographics Matter?

This study investigates the impact of CEO demographics on earnings quality for private SMEs. Using a 2012 sample of 30,476 French firms, we first find strong empirical support for a gender effect: female‐run firms engage in less earnings management than do male‐run firms. This result is consistent with female CEOs being more risk averse than their male counterparts are when making financial decisions. Second, CEO age is negatively correlated with the magnitude of discretionary accruals, and the relationship between gender and earnings quality is stronger for older CEOs. Overall, our findings suggest that CEO demographics affect the quality of accounting information.     

How Could Private Financing Be “Brought into Sunlight” ?

According to the sample survey among 38,000 small and micro industrial businesses by the National Bureau of Statistics of China (NBSC),only 15.5% of these enterprises have access to bank loans.As banks and financial institutions have raised the benchmark     

Private Versus Public Sector Wage Gap: Does Origin Matter?

The integration of immigrants and their children is a burning issue in France. Governments mainly build their integration policies on the labour market. The public sector is reputed to better assimilate minorities because of its entrance exams and pay scales. In this article, using a switching model, a comparison of the public and private sectors shows that second‐generation immigrants are not treated equally in both sectors. A wage gap is observed between workers of French origin and those of Southern European origin. The wage differential between workers of French and North African origins is mostly explained by observable variables.     

Does Giving Lead to Getting? Evidence from Chinese Private Enterprises

Enterprise philanthropy is practiced in a very unique and rudimentary form in China. Based on a unique random survey data on 3837 Chinese private enterprises conducted in 31 provinces of China in 2006, I find the significant positive relationship between enterprise philanthropy donation and enterprise profitability, and the result supports the political and institutional power view of enterprise philanthropy in the latest development of China. Simply put, Chinese private enterprises carried out philanthropy activities to better protect property rights and nurture political connections, which in turn, leads to better enterprise profitability. The␣result is even stronger in institutions weaker provinces.     

What Has Become of China''''s Rural Household Electronic Appliance Market?

Reporter: In recent years, somename brand household electronicappliances enteIPrise have been exploringthe rural market, but with not much effect.But certain inferior small enterprises havebeen successful in the rural areas. InShandong and Jiangsu, people queued upto buy inferior brand washing machines.Was it because the brand name enterpriseshave not made enough eftbrts, or theinferior brands were too strong?Dong Yunting (Director of theDevelopment Research Institute of theElectronics in…     

China''''s Market in 2000: Will Price Continue to Drop?

Until November 1999, the consumption priceof Chinese residents had been dropping for20 months. In the year 2000, what will it comeabout?The Wind of "China's Accession to WTO"Discouraged the Auto Marketl999 saw the worst of China's auto marketin recent three years. In November the same yearwhen an agreement was concluded between Chinaand the U.S.on China's accession to the WTO,the China's auto market was disappointed.Although many manufacturers declaredimmediately that no car price dro…     

CCPIT Chairman Wan Jifei:China''''s Foreign Trade Is An Important Force of Trade Promotion

50 years before, the Ministry of Foreign Trade published magazine named Foreign Trade of The People s Republic of China. The first issue was published in December of 1956. In December of 1958, the magazine was taken over by CCPIT(China Council for the Promotion of International Trade). Up to today, the magazine has been published in many languages including Chinese version, English version, etc., with huge influence in domestic and overseas economic and trade societies. It has played