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...

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...

This paper studies the impact of the R&D offshoring of multinational enterprises on the firms in host emerging economies. We develop a two-stage non-cooperative game to analyze the strategic interaction between multinational and host country enterprises engaged in R&D investment. An empirical...

This paper addresses some of the challenges confronting the European Union and China as they build their knowledge economies, and their on-going and possible future actions to address such challenges. Fifty years after the creation of what became the European Union, we argue that there is an...

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...

The paper first identifies the stakeholders involved in the design and implementation of China’s innovation policy and compares them with different government systems in selected Organization for Economic Co-operation and Development (OECD) countries. In order to disclose the relative strength...