This paper examines the impact of foreign penetration on the public firm in a mixed oligopolistic market. Through the establishment of a mixed double oligopoly market, this paper analyzes how the share of foreign inve...This paper examines the impact of foreign penetration on the public firm in a mixed oligopolistic market. Through the establishment of a mixed double oligopoly market, this paper analyzes how the share of foreign investment affects the environmental policy, the pollutant emission, and the social welfare under the condition of the state tax. The results show that: first, the introduction of foreign investment has some crowding-out effects on the social level of output. Second, the entry of foreign investment increases the profit of the public firm by a large margin, and the maximum profit of the private firm has been reduced. Third, the increase of foreign investment in public firm does not necessarily improve the environment.展开更多
This study investigates how foreign bank/investor penetrations influence local bank performance in China. At the country level, foreign bank penetration is proxied by MacroFP, measured by the percentage of banks with ...This study investigates how foreign bank/investor penetrations influence local bank performance in China. At the country level, foreign bank penetration is proxied by MacroFP, measured by the percentage of banks with foreign strategic investors （FSI） among total banks. At the bank level foreign bank penetration is proxied by MicroFP, measured by the percentage shareholding of FSl in a bank. When foreign bank penetration is proxied by MacroFP, it is found to improve the profitability of local banks but not to reduce costs. Next, when foreign bank penetration is proxied by MicroFP, it is found to affect neither profitability nor costs. In sum, the present study demonstrates that the opening-up policy is correct from a macro perspective, However, for banks that have introduced FSI, determining the reasons for improvements in performance being inhibited is more important than releasing more shares to foreign investors.展开更多
基金supported by Scientific Research and Innovation Project of Nanjing Audit University:Study on the Impact of Population and Consumption Level on Resources and Environment:A Case Study of Jiangsu[grant number D10802900236]National Natural Science Foundation of China:The Welfare Effects and Policy Implications of Trade Facilitation:A Study based on the Heterogeneous Firm Trade Model[grant number71473082]
文摘This paper examines the impact of foreign penetration on the public firm in a mixed oligopolistic market. Through the establishment of a mixed double oligopoly market, this paper analyzes how the share of foreign investment affects the environmental policy, the pollutant emission, and the social welfare under the condition of the state tax. The results show that: first, the introduction of foreign investment has some crowding-out effects on the social level of output. Second, the entry of foreign investment increases the profit of the public firm by a large margin, and the maximum profit of the private firm has been reduced. Third, the increase of foreign investment in public firm does not necessarily improve the environment.
文摘This study investigates how foreign bank/investor penetrations influence local bank performance in China. At the country level, foreign bank penetration is proxied by MacroFP, measured by the percentage of banks with foreign strategic investors （FSI） among total banks. At the bank level foreign bank penetration is proxied by MicroFP, measured by the percentage shareholding of FSl in a bank. When foreign bank penetration is proxied by MacroFP, it is found to improve the profitability of local banks but not to reduce costs. Next, when foreign bank penetration is proxied by MicroFP, it is found to affect neither profitability nor costs. In sum, the present study demonstrates that the opening-up policy is correct from a macro perspective, However, for banks that have introduced FSI, determining the reasons for improvements in performance being inhibited is more important than releasing more shares to foreign investors.
