This paper is a preliminary and illustrative case study of Beijing's emergingmobile communication industrial (MCI) cluster, which helps understand the cluster by qualitativeanalysis and description. Beijing's ...This paper is a preliminary and illustrative case study of Beijing's emergingmobile communication industrial (MCI) cluster, which helps understand the cluster by qualitativeanalysis and description. Beijing's MCI cluster is emerging as far as the competence of the industryand its spatial concentration are concerned, although it is not the type of the cluster describedby PORTER due to the low competence of indigenous firms. The formation of the cluster can beexplained by means of the factor and demand conditions of Beijing. However, it is mostly determinedby the multinationals that promote the growth of the industry and the formation of the cluster, andby the government that also plays a key role in many ways. As a matter of fact, the interactionbetween the multinationals and the local government is the key to understanding the formation of thecluster. All in all, Beijing's emerging MCI cluster is a value-chain, geographically concentratedbut non-localized cluster, which is highly dominated by the multinationals and the local government.Its special characteristics bear some policy implications as to the change of the roles of thelocal government and the localization of multinationals, etc.展开更多
Based on investigations of 112 Chinese firms and studies on foreign leading corporations, a theoretical framework of dynamic capabilities based strategy innovation (SI) is put forward. Several large firms in China wi...Based on investigations of 112 Chinese firms and studies on foreign leading corporations, a theoretical framework of dynamic capabilities based strategy innovation (SI) is put forward. Several large firms in China winning through SI were studied empirically. This paper complements previous publications on the theories of innovation and strategy. This work's findings will be useful for managers interested in our approach, which highlights the importance of SI and focuses on and points out the major pitfalls in the innovation processes. Implementing the dynamic capabilities based strategy innovation can effectively cultivate and develop core competences of corporations. It is concluded that implementing SI is the only path for Chinese enterprise growth in the intensified competition in the knowledge economy.展开更多
This paper explores the performances of some frequently used asset pricing factors and their investment implications in Chinese stock market. It is noted that CAPM model can hardly be applied to Chinese market as port...This paper explores the performances of some frequently used asset pricing factors and their investment implications in Chinese stock market. It is noted that CAPM model can hardly be applied to Chinese market as portfolios based on 13 values cannot generate high return against high risk. However, two factors （Size and B/M） from Fama-French model （1992） deliver better performances. Such findings indicate that models based on theoretical analysis are somewhat away from practice, and those risk factors from empirical studies are more applicable though not based on theories. Therefore, further researches are desirable concerning asset pricing factors.展开更多
After socio-political breakthrough in 1989 foreign companies entered Polish media market. Firstly, investors appeared in the press sector, later on in the electronic media. One of the first groups presented in Poland ...After socio-political breakthrough in 1989 foreign companies entered Polish media market. Firstly, investors appeared in the press sector, later on in the electronic media. One of the first groups presented in Poland was Orkla Media. The Norwegians launched a brand new regional daily. After subsequent failure they changed the pattern of business activity. When in 2006 Mecom bought out Orkla＇s shares, a new era began. The British fund was mainly interested in making their assets more profitable. The biggest shareholder of the regional press sector, however, is still Verlagsgruppe Passau （VGP）. The German group appeared in 1993, in disguise of a Swiss company and next year took over eight regional dailies. In due course, VGP bought out a couple of more regional titles and became the leader of this sector of the market. Although the Germans were competing against the Norwegians and the Brits, they showed a different style of managing their assets. The author attempts to describe different patterns of business strategy in the press sector in Poland, examining each investor＇s behavior and the results of their efforts. This can lead to conclusions about the past activities as well as to predictions about the future of the market.展开更多
This study makes a comparison between China and foreign countries about the ＂supportive shipping policies＂ in the period of late Qing Dynasty, from 1840 to 1911. After the first opium war, China was forced to open t...This study makes a comparison between China and foreign countries about the ＂supportive shipping policies＂ in the period of late Qing Dynasty, from 1840 to 1911. After the first opium war, China was forced to open the gate of the old oriental country to the world. As more treaty ports opened, the import and export of goods increased the growing trade that brought about the increased demands of shipping transportation. In the same period, British, France, America, Germany and Japan governing bodies instated various kinds of laws, regulations and other policies encouraging their national shipping companies to grab shipping market share. As a result, foreign steamship companies monopolized Chinese shipping market quickly. Faced with this situation, in 1872, the China Merchants＇ Steam Navigation Company was the fisst steamship company of China to be formed. It was a government-supervised and merchant-managed company, and the Qing Dynasty government took a series of measures to support it under the fierce competition, these measures were different from foreign countries＇.展开更多
The State Investment Corporation, China＇s soon-to-be open sovereign wealth fund, is the newest power player on the global market. Investors await anxiously signs of its investment strategy
文摘This paper is a preliminary and illustrative case study of Beijing's emergingmobile communication industrial (MCI) cluster, which helps understand the cluster by qualitativeanalysis and description. Beijing's MCI cluster is emerging as far as the competence of the industryand its spatial concentration are concerned, although it is not the type of the cluster describedby PORTER due to the low competence of indigenous firms. The formation of the cluster can beexplained by means of the factor and demand conditions of Beijing. However, it is mostly determinedby the multinationals that promote the growth of the industry and the formation of the cluster, andby the government that also plays a key role in many ways. As a matter of fact, the interactionbetween the multinationals and the local government is the key to understanding the formation of thecluster. All in all, Beijing's emerging MCI cluster is a value-chain, geographically concentratedbut non-localized cluster, which is highly dominated by the multinationals and the local government.Its special characteristics bear some policy implications as to the change of the roles of thelocal government and the localization of multinationals, etc.
文摘Based on investigations of 112 Chinese firms and studies on foreign leading corporations, a theoretical framework of dynamic capabilities based strategy innovation (SI) is put forward. Several large firms in China winning through SI were studied empirically. This paper complements previous publications on the theories of innovation and strategy. This work's findings will be useful for managers interested in our approach, which highlights the importance of SI and focuses on and points out the major pitfalls in the innovation processes. Implementing the dynamic capabilities based strategy innovation can effectively cultivate and develop core competences of corporations. It is concluded that implementing SI is the only path for Chinese enterprise growth in the intensified competition in the knowledge economy.
文摘This paper explores the performances of some frequently used asset pricing factors and their investment implications in Chinese stock market. It is noted that CAPM model can hardly be applied to Chinese market as portfolios based on 13 values cannot generate high return against high risk. However, two factors （Size and B/M） from Fama-French model （1992） deliver better performances. Such findings indicate that models based on theoretical analysis are somewhat away from practice, and those risk factors from empirical studies are more applicable though not based on theories. Therefore, further researches are desirable concerning asset pricing factors.
文摘After socio-political breakthrough in 1989 foreign companies entered Polish media market. Firstly, investors appeared in the press sector, later on in the electronic media. One of the first groups presented in Poland was Orkla Media. The Norwegians launched a brand new regional daily. After subsequent failure they changed the pattern of business activity. When in 2006 Mecom bought out Orkla＇s shares, a new era began. The British fund was mainly interested in making their assets more profitable. The biggest shareholder of the regional press sector, however, is still Verlagsgruppe Passau （VGP）. The German group appeared in 1993, in disguise of a Swiss company and next year took over eight regional dailies. In due course, VGP bought out a couple of more regional titles and became the leader of this sector of the market. Although the Germans were competing against the Norwegians and the Brits, they showed a different style of managing their assets. The author attempts to describe different patterns of business strategy in the press sector in Poland, examining each investor＇s behavior and the results of their efforts. This can lead to conclusions about the past activities as well as to predictions about the future of the market.
文摘This study makes a comparison between China and foreign countries about the ＂supportive shipping policies＂ in the period of late Qing Dynasty, from 1840 to 1911. After the first opium war, China was forced to open the gate of the old oriental country to the world. As more treaty ports opened, the import and export of goods increased the growing trade that brought about the increased demands of shipping transportation. In the same period, British, France, America, Germany and Japan governing bodies instated various kinds of laws, regulations and other policies encouraging their national shipping companies to grab shipping market share. As a result, foreign steamship companies monopolized Chinese shipping market quickly. Faced with this situation, in 1872, the China Merchants＇ Steam Navigation Company was the fisst steamship company of China to be formed. It was a government-supervised and merchant-managed company, and the Qing Dynasty government took a series of measures to support it under the fierce competition, these measures were different from foreign countries＇.
文摘The State Investment Corporation, China＇s soon-to-be open sovereign wealth fund, is the newest power player on the global market. Investors await anxiously signs of its investment strategy
