Search results
1 – 4 of 4Hongbo Cai and Eleonora Cutrini
The objective of this chapter is to provide a first assessment on the evolution of spatial distribution of foreign firms in China.
Abstract
Purpose
The objective of this chapter is to provide a first assessment on the evolution of spatial distribution of foreign firms in China.
Methodology/approach
We examine the overall changes in the location of foreign firms in China over the period 1999–2009. Then, we distinguish two time periods, 1998–2001 and 2002–2009 so as to analyze whether foreign firms’ agglomeration across regions has changed significantly after the China’s entry into the WTO (2001) and the first launch of the Chinese government policies to develop western internal areas.
Findings
Our analysis suggests that foreign-invested enterprises (FIEs) with higher foreign capital shares are more geographically clustered in coastal regions than other enterprises with lower foreign capital shares. This group with the highest intensity of foreign involvement in firm capital also experienced the most relevant changes over the decade of our analysis becoming more localized between the core-periphery divide (coastal provinces and the rest of mainland China).
Research limitations
The main limitation refers to poor data availability, data matching problems, and measurement errors in the database used, as highlighted by Nie, Jiang, and Yang (2012).
Practical implications
A general analysis of location patterns and the role of public policies may inform foreign companies in their entry strategy in the Chinese market.
Originality/value
Very few studies have explored location patterns with detailed geographical data and, at the same time, with data disaggregated by foreign ownership shares.
Details
Keywords
This research investigates the influence of bank loans on Chinese listed companies’ performance by collecting data on bank loan amounts and indicators used to measure performance…
Abstract
This research investigates the influence of bank loans on Chinese listed companies’ performance by collecting data on bank loan amounts and indicators used to measure performance, such as return on assets (ROA) and Tobin’s Q, semiannually from 2015 to 2020. Pooling panel regression models are employed to determine the relationship between firms’ performance and their amount of bank loans. This study contributes to the literature by controlling for additional bank loan characteristics and comparing the relevance between bank loans and bond issuance. The authors also find that the relationship between firm performance and bank loans shows a nonlinear concave relationship, suggesting the negative impact is more severe in the high loan-to-asset region. The subsample after 2018 shows a significantly positive relationship, indicating that the impact of COVID-19 might alter the prevalent relationship. In addition, short-term debt has a more noticeable negative impact on firm performance than long-term debt. Both results become weaker after COVID-19. This chapter can help listed companies to trade off using long-term or short-term bank loans as their debt financing methods and approach a better capital structure.
Details
Keywords
Ayodeji Emmanuel Oke, Seyi Segun Stephen, Clinton Ohis Aigbavboa, Deji Rufus Ogunsemi and Isaac Olaniyi Aje
The smart city process encompasses many features. The two chapters before this has succinctly introduced the concepts and some parts that relate to smart city. The process in…
Abstract
The smart city process encompasses many features. The two chapters before this has succinctly introduced the concepts and some parts that relate to smart city. The process in implementation is dissected in this section of the book. It starts from the conceptualisation of the process to further definitions of the subject. Also, traits attributed to smart cities are explained in smart environment, economy, governance, living, people and mobility. Urbanisation brings along with it several features and terminologies. One of which is smartisation fused into the smart city process. The smartisation of the city system aim to bring developments in making the city wireless and developing smart families at the same time. Also, there are smart general administrations and improvement of social administrations, development of smart transportation, improvement of smart medicinal treatment, develop-ment of smart city administration, development of green city, and development of smart vacationer focus. Other smart city processes include the drivers, barriers, and benefits.
Details