The article by Dr. Cui Zhiyuan entitled "Theoretical Background of Corporate Law Reform in Twenty-Nine States in the United States and Its Application to China" (iEconomic Research/i, no. 4, 1996) touched on a number of important issues relevant to the theory of the firm. Flawed in its logic and...

In 1985, confronted with the high-speed growth of industrial development as well as with a series of other problems of macroeconomic imbalance, the central task of macroeconomic control was to suppress general demand, and the major policy measure adopted was to tighten up credit and finance. At...

The old system was an integral entity. We cannot accurately explain any part of it without taking stock of all other parts. Nonetheless, from the perspective of the operation of the economic system, it is still possible to grasp its "nerve center," and that would be the price system.

This paper employs a firm-level panel data set for a high-tech cluster in China to examine knowledge spillovers from multinational enterprises (MNEs) to domestic firms, focusing on the role of MNEs' employment of educated workers. We find that knowledge of MNEs spills over to domestic firms in...

This paper is intended to model the principal-agent relationship and its associated monitoring-incentive problems of the public economy. The basic findings are: (1) the degree of publicness and the size of the public economy matter: the monitoring effort of the original principals and the work...