The current study compares the firm performance in China＇s listed companies by distinguishing the governance controlling of three types of state-shareholder. The results indicate that the performances in firms with d...The current study compares the firm performance in China＇s listed companies by distinguishing the governance controlling of three types of state-shareholder. The results indicate that the performances in firms with direct government controlling are significantly weaker than other firms. In contrast, the performances in firms without direct government controlling are not significantly different. The results suggest that the introduction of market-oriented state-share holders is a desirable process during the transition economy in China.展开更多
With the development of economy and the progress of society,people’s living standards are gradually improving,and the requirements for housing are also gradually improving.The development of the real estate industry ...With the development of economy and the progress of society,people’s living standards are gradually improving,and the requirements for housing are also gradually improving.The development of the real estate industry provides conditions for people’s modern life,and its development meets the needs of China’s socialist development.In such a social background,the future planning of the real estate industry is gradually clear,promoting the steady rise of the real estate economy,which is an important development prospect of the current real estate industry.In this paper,through the analysis of real estate economic security and government control,aiming at the existing problems,put forward some effective measures to promote the advantages of real estate development and the combination of government macro-control to stabilize the healthy development of the real estate industry.展开更多
The traditional telecommunications operator of China has entered into a substantive network construction stage of NGN and new VoIP service in 2006. As the increasing understanding and the consideration of cost to VoIP...The traditional telecommunications operator of China has entered into a substantive network construction stage of NGN and new VoIP service in 2006. As the increasing understanding and the consideration of cost to VoIP, VoIP has become more acceptable for CIO of large-scale enterprises. Small and medium-scale enterprises are sensitive to communication cost, but influenced by the maturity of VoIP technology and reduction of VoIP equipment price, the market is intensified. All these drive the VoIP equipment entering into the actual purchase stage and promote the stable growth of VoIP equipment scale.展开更多
We show that 70% of Chinese listed companies are ultimately controlled by government agencies, thereby indicating that state ownership remains widespread in China's stock markets. Three questions are considered th...We show that 70% of Chinese listed companies are ultimately controlled by government agencies, thereby indicating that state ownership remains widespread in China's stock markets. Three questions are considered that are related to government control structures and their impact on firm value:(1) how do government agencies maintain their control of listed companies;(2) what are the impacts of different government control structures on firm value; and(3) are these impacts different in local government and central government-controlled firms? We find that the Chinese government controls listed companies directly or indirectly through solely state-owned enterprises(SSOEs). Taking into account the trade-off between political and agency costs, we show that firm value increases when some control rights are decentralized from the government to state-owned enterprises(SOEs). Moreover, decentralization improves significantly the performance of local government- controlled, but not central government-controlled firms.展开更多
文摘The current study compares the firm performance in China＇s listed companies by distinguishing the governance controlling of three types of state-shareholder. The results indicate that the performances in firms with direct government controlling are significantly weaker than other firms. In contrast, the performances in firms without direct government controlling are not significantly different. The results suggest that the introduction of market-oriented state-share holders is a desirable process during the transition economy in China.
文摘With the development of economy and the progress of society,people’s living standards are gradually improving,and the requirements for housing are also gradually improving.The development of the real estate industry provides conditions for people’s modern life,and its development meets the needs of China’s socialist development.In such a social background,the future planning of the real estate industry is gradually clear,promoting the steady rise of the real estate economy,which is an important development prospect of the current real estate industry.In this paper,through the analysis of real estate economic security and government control,aiming at the existing problems,put forward some effective measures to promote the advantages of real estate development and the combination of government macro-control to stabilize the healthy development of the real estate industry.
文摘The traditional telecommunications operator of China has entered into a substantive network construction stage of NGN and new VoIP service in 2006. As the increasing understanding and the consideration of cost to VoIP, VoIP has become more acceptable for CIO of large-scale enterprises. Small and medium-scale enterprises are sensitive to communication cost, but influenced by the maturity of VoIP technology and reduction of VoIP equipment price, the market is intensified. All these drive the VoIP equipment entering into the actual purchase stage and promote the stable growth of VoIP equipment scale.
文摘We show that 70% of Chinese listed companies are ultimately controlled by government agencies, thereby indicating that state ownership remains widespread in China's stock markets. Three questions are considered that are related to government control structures and their impact on firm value:(1) how do government agencies maintain their control of listed companies;(2) what are the impacts of different government control structures on firm value; and(3) are these impacts different in local government and central government-controlled firms? We find that the Chinese government controls listed companies directly or indirectly through solely state-owned enterprises(SSOEs). Taking into account the trade-off between political and agency costs, we show that firm value increases when some control rights are decentralized from the government to state-owned enterprises(SOEs). Moreover, decentralization improves significantly the performance of local government- controlled, but not central government-controlled firms.
