We examine the impact of information asymmetry on a firm's capital structure decisions with a unique information rating scheme that draws from 114 measures over five dimensions of information disclosures on each firm from 2006 to 2012. We find that a firm with high (low) information rating is...

Since mid-2007, Hong Kong-owned manufacturing firms have increasingly been forced to shut down or move their production plants out of Guangdong Province (hereinafter 'Guangdong') in the People's Republic of China (hereinafter 'China'). Such a cessation or migration of industrial activity has...

Based on data from more than 100,000 Chinese manufacturing firms, this study explores the reasons for the recent surge of manufacturing exports from China. Research and Development (R&D) investment has not been a contributing factor to the export success of Chinese firms, even in high-technology...

In this paper we characterize the extent of economic integration between Guangdong, Hong Kong, Macau, and Taiwan (HKMT). We do not find, for the period of 1999-2003, consistent evidence that economic activity on the part of HKMT-funded companies contributed to productivity growth in Guangdong...

Non-R&D innovation is a common economic phenomenon, though R&D has been the central focus of policy making and scholarly research in the field of innovation. An analysis of the third European Community Innovation Survey (CIS-3) results for 15 countries finds that almost half of innovative...

In a globalized knowledge-economy, the European Union (EU) needs a new approach to its international science and technology (S&T) policies by focusing on improved coherence across the different tiers of government and by demonstrating leadership in tackling serious global challenges. The...

The global economy is changing rapidly and multinational corporations (MNCs) are at the forefront of this transformation. This book provides novel and profound analyses of how MNCs and emerging economies are related, and how this relationship affects the dynamics of the global economy. In...

We analyze nanotechnology patent applications filed in China from 1998 to 2008 and find that the extraordinary pace of nanotechnology development achieved over that period has been promoted primarily by the public sector rather than being driven by industry and market forces. This finding...

This paper studies how ease of learning by host country firms in emerging economies shapes decisions regarding their R&D efforts in response to R&D offshoring by multinational enterprises (MNEs). We develop a two-stage game-theoretic model to analyze strategic interaction between the R&D...