Dargestellt werden Entwicklungsphasen sowie Entwicklungsperspektiven des Außenhandelssystems der VR China. In der gegenwärtigen Phase der Öffnungspolitik liegt der Schwerpunkt auf der Steigerung der Exportfähigkeit der chinesischen Volkswirtschaft. Der weitere Ausbau des Außenhandels...

We introduce the concept of the post-merger integration duration (PMID) which is the time delay that it takes a merged entity to fully capture synergistic gains. Using a dynamic model, we examine the effects of this duration on acquiring firms' financing behavior around mergers. When facing a...

We consider the role of construction lags or time-to-build (TTB) in a firm's dynamic investment and financing decisions. We conjecture that construction lags can lead firms to finance large projects with equity so as to maintain financial flexibility during the construction period. After project...

Bank bailouts are not ''one-shot'' events as commonly portrayed, but dynamic processes in which series of steps occur over time lasting for months or years. Regulators first ''catch'' financially-distressed banks and provide financial assistance. At this time, regulators also ''restrict'' banks'...