This study is motivated by the lack of direct empirical research on the relationship between intangible assets （IA） and loan interest rates for small- and medium-sized enterprises （SMEs） in emerging markets. This ...This study is motivated by the lack of direct empirical research on the relationship between intangible assets （IA） and loan interest rates for small- and medium-sized enterprises （SMEs） in emerging markets. This study uses a multivariate regression to investigate the effects of 1A on loan interest rates by focusing on SMEs. Using a panel sample of 186 publicly-listed SMEs with 952 annual observations in Taiwan from 2001 to 2006, the empirical findings indicate that an SME＇s IA does negatively affect loan interest rates. The main contribution of this study lies in its direct testing of whether IA can affect the loan interest rates for SMEs in an emerging market. The finding provides empirical evidence that an SME with greater IA leads to lower interest rates on bank loans, implying that SMEs should strive to invest in IA and enhance their knowledge management for obtaining more benefits of loan interest rates. Furthermore, the findings may provide empirical evidence for SMEs in emerging markets and can be compared with those for firms in industrialized economies.展开更多
Small and micro enterprises play an extremely important role in the realization of employment, independent innovation,increasing taxes and so on, It is an important part of national economic development in China. Alth...Small and micro enterprises play an extremely important role in the realization of employment, independent innovation,increasing taxes and so on, It is an important part of national economic development in China. Although the government has introduced a series of supportive policies, but small and micro enterprises arc still faced with many development problems, small and micro enterprises face an important problem is financing difficulty, which relates to its health, sustainable and stable development. This paper analyzes the financing problem of small and micro enterprises from the new net loan mode of P2B, hoping to benefit the development of small and micro enterprises.展开更多
Against the background that the central government is strengthening macro control and tightening credit scale of real estate businesses, financing capacity becomes the determinant for a real estate enterprise＇s devel...Against the background that the central government is strengthening macro control and tightening credit scale of real estate businesses, financing capacity becomes the determinant for a real estate enterprise＇s development. Domestic enterprises have many ways of financing, and this paper describes ten common models, simply analyses the advantages and disadvantages of each model, while explains and recommends three financing models with practical examples： individual entrusted loan, trust financing and assets securitization.展开更多
Since the turn of the century,creative industries have displayed considerable power in transforming the social and economic landscapes of most global metropolises,including such Chinese mega-cities as Beijing and Shan...Since the turn of the century,creative industries have displayed considerable power in transforming the social and economic landscapes of most global metropolises,including such Chinese mega-cities as Beijing and Shanghai.However,the story of creative industries does not end there.Recent studies have focused on the role of creative sector in the countryside.It has been argued that the creative sector can effectively contribute to diversifying socio-economic development in rural areas by increasing employment,enhancing the quality of life,and promoting social inclusion and community development.With the aim to chart new paths for China’s rural revitalisation and address the country’s‘three rural issues’(i.e.agriculture,rural areas and farmers),this paper examines the potentials and challenges to developing the creative sector in rural China.It first reviews the academic debate about expanding the development of creative industries from urban to rural areas.Drawing on the research and classification of creative industries in rural Western Ireland,this study identifies industries characterised by‘content creation and production’and‘creative design services’,which would have potential in rural China.The major impediments to and crucial factors for developing rural creative industries in China are investigated and appraised within the framework of‘creative people,creative place,and creative support’.After analysing emerging practices in Jiangsu Province,this paper highlights the potential of abandoned industrial complexes in rural parts of China’s coastal regions,which can act as incubators for creative industries.Those former manufacturing plants are the remains of township-village enterprises(TVEs),which constituted part of China’s flagship policy for rural regeneration in the 1980s.Not only do they have special architectural attributes favourable for creative production,but also represent the socio-economic entity of the village collective and are the carriers of cultural meanings and memories.This paper concludes with a set of recommendations for both public and private sectors.It calls for a more proactive stance from governments to promote the creative sector in rural areas and revitalise rural economies and communities through the reuse or regeneration of former TVEs.展开更多
The rural micro-financial innovation is necessary because the traditional regular financial institutions can not satisfy peasant households' demand of small-sum(or petty)loan and the support of present small-sum l...The rural micro-financial innovation is necessary because the traditional regular financial institutions can not satisfy peasant households' demand of small-sum(or petty)loan and the support of present small-sum loan companies is limited for rural financial development.Taking Fuping Petty Loan Company as an example,we analyzed characteristics,reasonableness and continuity of social enterprise type peasant household petty loan mode.It is believed that this mode has enormous vitality in rural areas and has great promotion value.Petty loan companies have both internal and external shortages in their current development.We put forward countermeasures and suggestions for rural micro-financial innovation from legal status confirmation,fund supply and loan product innovation.展开更多
文摘This study is motivated by the lack of direct empirical research on the relationship between intangible assets （IA） and loan interest rates for small- and medium-sized enterprises （SMEs） in emerging markets. This study uses a multivariate regression to investigate the effects of 1A on loan interest rates by focusing on SMEs. Using a panel sample of 186 publicly-listed SMEs with 952 annual observations in Taiwan from 2001 to 2006, the empirical findings indicate that an SME＇s IA does negatively affect loan interest rates. The main contribution of this study lies in its direct testing of whether IA can affect the loan interest rates for SMEs in an emerging market. The finding provides empirical evidence that an SME with greater IA leads to lower interest rates on bank loans, implying that SMEs should strive to invest in IA and enhance their knowledge management for obtaining more benefits of loan interest rates. Furthermore, the findings may provide empirical evidence for SMEs in emerging markets and can be compared with those for firms in industrialized economies.
文摘Small and micro enterprises play an extremely important role in the realization of employment, independent innovation,increasing taxes and so on, It is an important part of national economic development in China. Although the government has introduced a series of supportive policies, but small and micro enterprises arc still faced with many development problems, small and micro enterprises face an important problem is financing difficulty, which relates to its health, sustainable and stable development. This paper analyzes the financing problem of small and micro enterprises from the new net loan mode of P2B, hoping to benefit the development of small and micro enterprises.
文摘Against the background that the central government is strengthening macro control and tightening credit scale of real estate businesses, financing capacity becomes the determinant for a real estate enterprise＇s development. Domestic enterprises have many ways of financing, and this paper describes ten common models, simply analyses the advantages and disadvantages of each model, while explains and recommends three financing models with practical examples： individual entrusted loan, trust financing and assets securitization.
基金This research was supported by the 2019 Suzhou Soft-Science Programme(grant no.SR201927)the Jiangsu Province Program of Science and Technology(grant no.BK20151244).
文摘Since the turn of the century,creative industries have displayed considerable power in transforming the social and economic landscapes of most global metropolises,including such Chinese mega-cities as Beijing and Shanghai.However,the story of creative industries does not end there.Recent studies have focused on the role of creative sector in the countryside.It has been argued that the creative sector can effectively contribute to diversifying socio-economic development in rural areas by increasing employment,enhancing the quality of life,and promoting social inclusion and community development.With the aim to chart new paths for China’s rural revitalisation and address the country’s‘three rural issues’(i.e.agriculture,rural areas and farmers),this paper examines the potentials and challenges to developing the creative sector in rural China.It first reviews the academic debate about expanding the development of creative industries from urban to rural areas.Drawing on the research and classification of creative industries in rural Western Ireland,this study identifies industries characterised by‘content creation and production’and‘creative design services’,which would have potential in rural China.The major impediments to and crucial factors for developing rural creative industries in China are investigated and appraised within the framework of‘creative people,creative place,and creative support’.After analysing emerging practices in Jiangsu Province,this paper highlights the potential of abandoned industrial complexes in rural parts of China’s coastal regions,which can act as incubators for creative industries.Those former manufacturing plants are the remains of township-village enterprises(TVEs),which constituted part of China’s flagship policy for rural regeneration in the 1980s.Not only do they have special architectural attributes favourable for creative production,but also represent the socio-economic entity of the village collective and are the carriers of cultural meanings and memories.This paper concludes with a set of recommendations for both public and private sectors.It calls for a more proactive stance from governments to promote the creative sector in rural areas and revitalise rural economies and communities through the reuse or regeneration of former TVEs.
基金Supported by Double Support Plan Project of Sichuan Agricultural University
文摘The rural micro-financial innovation is necessary because the traditional regular financial institutions can not satisfy peasant households' demand of small-sum(or petty)loan and the support of present small-sum loan companies is limited for rural financial development.Taking Fuping Petty Loan Company as an example,we analyzed characteristics,reasonableness and continuity of social enterprise type peasant household petty loan mode.It is believed that this mode has enormous vitality in rural areas and has great promotion value.Petty loan companies have both internal and external shortages in their current development.We put forward countermeasures and suggestions for rural micro-financial innovation from legal status confirmation,fund supply and loan product innovation.
