This paper develops a theoretical model to study features of the spontaneous growth of private enterprises in China’s Zhejiang province. The model predicts that in a developing economy where the market environment is immature or unstable, the ownership structure of a typical private enterprise...

This paper presents two related models of development patterns of Chinese private enterprises. They illustrate incentive-based reasons for ownership arrangements of private enterprises, and highlight how institutional foundations of trust, particularly government and family-based cultural...

Based on panel data of 1891 Chinese listed companies over the period 2008-2013, we find a positive correlation between the companies’ philanthropic giving and their ability to obtain bank loans in the subsequent year. This result suggests that corporate philanthropy can be usefully seen as an...

There has been ample evidence suggesting that ¡°tunneling¡± or expropriation of minority shareholders by the controlling shareholders has been a serious problem in the share market in China. This remains the case, despite the fact that the share division arrangement has been discontinued,...

There is debate over the relationship between ownership structure and firm performance. Most existing studies look at established listed companies in developed countries, in which the market mechanism is well developed. Meanwhile, the relationship between ownership structure and firm performance...

We study the optimal technology licensing contracts with network effects and investigate the welfare implications when the product innovator is an insider that acts as a Stackelberg leader. We show that (i) the market is fully covered when relatively small network intensity matches quality...

How to deal with the contradiction between scale production effect and customized demand is the key problem on studying mass customization (MC). When MC is operating in supply chain environment, on one hand, the excellent operating character of the supply chain will give conditions for solving...