• The Journal of the Korea Contents Association
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• v.12 no.4
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• pp.401-406
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• 2012

Shanghai Stock Exchange is the largest stock exchange of emerging markets that there were listed firms 905, listed securities 1,537, listed stocks 949, total number of listed stocks 2 trillion 2000 billion shares. There is more development that is expected to occur in the future. The purpose of this study is to find determinants of capital structure to listed manufacturing firms in Shanghai Stock Exchange using multiple regression. Conclusions of this study are summarized as follows. First, firm size is positively related to debt ratio significantly at 1% significance level.. Second, the profitability is negatively related to debt ratio significantly at 1% significance level. Third, the growth ability is positively related to debt ratio significantly at 1% significance level. fourth, cash flow, the largest shares ownership, negotiable shares ratio are negatively related to debt ratio but they are not significant statistically. The result of this study provides information for investors and can be utilized to improvement of financial structure.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.17 no.12
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• pp.162-169
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• 2016

Using 1795 observations from the 5 year-359 firm panel data collected during the period from 2009 to 2013 in Chinese stock exchanges, this study examines the impact of the controlling shareholders' ownership on R & D expenditure. This empirical study finds that when firms are state-owned, the controlling shareholders' ownership has a U shaped relation with the level of R & D expenses. A non-linear relation is also found when piece-wise regression models are applied. This empirical study also finds that when firms are private-owned, the controlling shareholders' ownership is negatively related to the level of R & D expenses, and no structural changes in the relation are found when piece-wise regression models are applied. These results support the hypothesis that the effects of the controlling shareholders' ownership on R & D expenses may differ depending on the ownership type of the controlling shareholders. This finding suggests that the differences in the controlling shareholders' incentives due to their ownership type should be considered when exploring the relation between the controlling shareholders' ownership and corporate strategic decisions.

• Journal of the Economic Geographical Society of Korea
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• v.3 no.2
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• pp.23-42
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• 2000

This study is to investigate spatial patterns of urban labor market growth driven by marketization process and its implication for understanding regional uneven development in post-reform China. Using a shift share analysis, it shows that the geography of employment growth in China's industrial labor market has closely interacted with the space economy of industrial output, which in turn indicates a deepening of economic reform. By decomposing net employment growth into output and productivity effects, it is shown that the non-state sector holds rapid growth of both output and productivity and contributes to net employment growth through positive net shifts. On the contrary, this study also presents that the state sector with relative decrease in output and productivity holds employment decline effects during the reform period. Since there is a significant spatial dimension for the trend above, it is contended that labor market dynamics together with space economy of industrial production play an important role in determining regional patterns of economic development. In addition, through situating this investigation in the context of structural and institutional changes in the reform period, our understanding of regional patterns of labor market growth will be much furthered.

• Management & Information Systems Review
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• v.35 no.4
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• pp.79-98
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• 2016

A large number of Chinese enterprises have grown up and become increasingly competitive. Chinese firms have ventured abroad to search for new sources of growth. Overseas mergers and acquisitions of Chinese companies has been developed rapidly through extensive opening policy and active support system by government. The main purpose of this study is to identify the factors that affect the outcomes of overseas mergers and acquisitions made by Chinese firms in recent years, particularly, financial performance of the acquiring firms. This study aims to analyze systematically financial performance and its determinants of Chinese overseas M&A in recent years. This study chooses a sample of 167 overseas mergers and acquisitions in the manufacturing industry in China and the relevant data were collected during the period 2006 to 2012. The data were analyzed by using a multiple regression analysis to identify determinants of corporate performance. We showed that cultural distance, past performance, state ownership, and interaction between cultural distance and past performance. Findings of this study can provide useful guidance to outward Chinese M&A in the future.

• Korean Journal of Labor Studies
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• v.19 no.1
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• pp.177-211
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• 2013

The Chinese dual structure of employment('Shuangguizhi') has been retained through the Economic Reforms, and has been supported and reproduced by the system of division between rural and urban household registration. In the 2000s, efforts of the government to abolish the division appeared to be effective with the introduction of the 'Labor Contract Act'. However, the eclecticism of the Act and the outbreak of the global financial crisis in 2008 gave new momentum to the revival of the Chinese dual structure of employment by increasing the scale of labor dispatching. Labor dispatching in China has become a regular form of employment rather than an exceptional one. Labor dispatching reveals its Chinese characteristics against the particular background formed during the periods of state-owned-enterprise restructuring around 2000. The combined effects of the 'Labor Contract Act' and the global financial crisis brought about the effect of increase rather than control of labor dispatching, and gave a signal to enterprises to use various forms of labor dispatching including 'reverse directional labor dispatching' to lessen burdens and costs caused by the Act and the crisis. As labor dispatching strengthens or displaces the existing dual structure of employment, social groups which need more social protection tend to be much more excluded from the protection of the government and the society.

• Asia-Pacific Journal of Business
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• v.12 no.2
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• pp.97-114
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• 2021

Purpose - The purpose of this study was to examine the effects of privatization of Chinese state-owned enterprises (SOEs) on their initial returns and long-term performance after initial public offering(IPO). Design/methodology/approach - This study used 1,599 Chinese IPO firms, some of which were SOEs. The multivariate regression analyses were implemented to analyze their effects. Findings - First, the privatization of SOEs does not have any statistically significant effect on the initial return of IPO firms. Second, the shareholdings of government prior to IPOs for both privatizing of SOEs and non-privatizing firms and for both exchanges of Shanghai and Shenzhen have a statistically significant positive effect on the initial return of IPO firms. Third, the privatization of SOEs has statistically significant negative effect on the long-term returns of IPO firms. Fourth, the state-shareholdings prior to IPOs have statistically significant negative effects on the long-term return of IPO firms. Fifth, the state-shareholdings of the privatizing SOEs prior to IPOs have statistically significant positive effects on the long-term return of IPO firms. Research implications or Originality - The results imply that the higher shareholdings and ownership of the Chinese government on SOEs reduce the information asymmetry for the investors of IPO shares or maybe due to inefficiency of SOEs prior to IPOs lead to lower offer prices or higher opening prices leading to severe underpricing and relatively lower stock market returns in the long-run both for the privatizing firms and for the higher state-shareholding firms, while both factors interactively improve their long-term stock market returns.

• International Area Studies Review
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• v.16 no.3
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• pp.293-321
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• 2012

This study aims to examine how institutions has been formed to deepen interdependence and to keep check in trade on the border regions of East Sea Rim between the macro structure and micro behaviors. The transitional nations such as China, Russia, and North Korea adjacent to the East Sea Rim exhibits unique characteristics in terms of transaction governance structure. While the regional economy in northeast China is still overwhelmed by the stated-owned enterprises(SOEs), it strongly encourages the private economic trade to form institutional economy through the border trade port and peddler trade market. Thus trade is shaped by the mixed governance. In far east Russia, whereas the SOEs are in charge of exporting oil, gas etc., private firms and small scale traders are importing household items, so that it can also be called as the mixed governance, while informal social networks simultaneously work. In North Korea, for the trade, since the firms are mainly required to have the permits from the different levels of government, it is regarded as the hierarchical governance. The institutional economics seems to well explain the changing agencies and their influence on the trade among the regions in the East Sea Rim.

• The Inventors News
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• no.55
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• pp.1-16
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• 2007

선진국가 선도하는 창의적 여성경제리더 양성하자/발명지도사.시제품제작지원 시행/발행인 칼럼/특허심사처리 세계에서 가장 빠르다/글로벌 기업, 한국 특허청에 심사의뢰 쇄도/국유특허권 온라인 전자계약 시행/특허기술, "기술경매" 로 산다/여성발명인 거유 활동 영역 넓어/감귤와인 특허획득 이어 독일 등 해외 수출 기대/미더덕 냉동 않고도 장기 보관/특허민원서식 대폭 감축/특허청, 개도국 지원사업 대폭 확대/기상청, 날씨예보기술로 특허 받아/우리나라 국제특허출원 수준 세계 6위/건강관련 브랜드 상표출원 증가/친환경수로관 '도룡용 살린다'/고등학교에 첫 발명창작과 개설/욕조, 웰빙 휴식공간으로 자리매김/가습기, 공기정화.탈취.방향 등 다기능화/패치제 특허출원 해마다 증가/일 특허청, 분할출원기간 30일 연장/중 법원, 비아그라 특허군 인정/국내 제약사 유유 "미머크사 특허 침해" 주장/삼성전자, 지난해 미 특허 2천4백53건으로 2위/기업심볼마크는 단순, 상표는 길어져/LG전자 "대우일렉이 드럼세탁기 특허권 침해했다"/유.무선 통합 '원폰 서비스' 기술 개발/암환자 울린 과대광고제품 1백억원대 판매 적발/맥도날드 '해피밀' 광고 퇴출/세원셀론텍, 콜라겐 원천기술 특허/역사 속의 발명품/하루 10분 발명교실/특허Q&A/'S&D Trecap' 황지경 대표/경기도, 여성분야 소상공인창업자금 신설/특허청, 세계지식재산기구(WIPO) 진출확대/아이디어 착상 및 발명 기법/여성발명 활성화만이 국가경쟁력 키우는 첩경/히로자키의 광엽수 진액/해외 네티즌 인기 화제의 발명품들/여성기업 생산제품 MAS시 적격성 평가 면제/특허청, 시작품제작지원 5천만원까지 확대/지난해 짝파라치에게 3억2천3백만원 포상금 지급/입체방송 분야 특허출원 봇물/트랜스지방 퇴출 시민단체 '토트랜스 클럽' 출현/한국여성발명협회 회원사 발명품 가이드/

• Journal of Forest and Environmental Science
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• v.9 no.1
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• pp.81-95
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• 1993

The purpose of this study is to analyze the historical development process on management plan and regulation in Japan in order to contribute to the systmatic management plan of national forest in Korea. Before the World War II, remarkable national forest management plan in Japan was introduction of the normal forest ideas by the management plan of the combination system of maximum forest rent and maximum soil rent, employing the clear-cutting of small area, simplified area-period method, and about 70-80 years rotation. After World War II, enterprise management was developed from the previous combination system. During the rapid economic development period, the original working system and normal forest ideas were not recognized, so that the destructions of forest and environment were resulted from the yield of future increment and clear-cutting of large area. During the slow economic development period, on the other hand, the reproduction of forest resources was difficult, as the result of the negligent management system and the depression of management. Future management system of national forest, therefore, should establish the working system and the management plan for the purpose of both forest resources reproduction and environment maintenance, simultaneously.

• Korean Journal of Comparative Education
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• v.27 no.1
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• pp.171-197
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• 2017

China's independent college approved private education investment, and facilitates the use of funds to support individual investors, corporations, and society. In contrast to China's public universities, the college guarantee private school method of operation. Its bachelor's degree, admission to students, the establishment of a separate corporation, and the recognition of scholastic achievements, was established with the aim of ensuring the diversity of higher education institutions in China. However, since the early 1990s, the independent college, which has emerged as a new way of higher education in China, has achieved quantitative growth over the past 30 years, but the quality of education has not yet grown. The reason why the independent college in China is interested is that it receives support from the facilities and professors of the original public college, and the major in which it is established and shares the reputation of the university. This study tried to analyze the policy of independent college which is a unique higher education institution in China. For this purpose, we use Four-Dimensional Framework to analyze the problem of China's independent colleges. It examines the profitability and non-profitability of independent college as a normative dimension and analyzes the Chinese society that have the old "guanxi" culture core in China. On the structural dimension, we analyzed the structure of the relationship in educational administrative institution. On the constituentive dimension, we observed that the various stakeholders who are interested in the independent college policy. Finally, we searched for future directions of the independent college centered on the process of legalization of independent colleges in technical dimension. The results of this analysis suggest the implications of the direction of China's independent college policy.