The private equity business, a good complement to the public equity market and the debt market, has been playing an increasing role in China. However, there is no universal formula for doing this business. As an art rather than a science, it varies from country to country. After two decades of...

Human nature does not like change, and unfortunately, in some areas, changes must be made. From an economic standpoint, firms have to adapt to new technologies, the size of markets change constantly as a result of globalization, and customers' needs are never-ending and wide-ranging. In a word,...

This paper examines the stock prices of Chinese companies dual-listed in the A and H share markets between January 2006 and March 2008. While most previous studies have concluded that the A share market does not have significant exposure to the Hong Kong market, I find that following the...

Modem capitalist societies depend on entrepreneurship for their progress. Entrepreneurs seek profits by introducing new goods, services, and technologies and, in doing so, they advance the economic welfare of society. To maintain and further entrepreneurial activities, each society requires a...

The Korean life insurance industry has rapidly grown over the past decades. The CAGR (Compounded Annual Growth Rate) of asset from 1978 to 2008 is 22.8%. As the asset size increases very fast, risk management plays a vital role in the Korean life insurance industry. Before the financial crisis...

This thesis consists of three essays in financial economics. Chapter 1 is entitled "Inside Debt." Existing theories advocate the use of cash and equity in executive compensation. However, recent empirical studies have documented the prevalence of debt-like instruments such as pensions. This...

Consolidation in the financial industry has progressed rapidly in many countries. In the United States, large financial corporations, such as Citigroup and JP Morgan Chase, formed complex financial groups and conglomerate structures composed of a commercial bank, a securities company, and an...