The Multinomial Logit model is employed in this study to examine the relationship of the choices of technology strategies adopted by the manufacturing firms in Taiwan. The technology strategies are divided into four categories: "both R&D and purchased technology", "only R&D", "only purchased...

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English Abstract: The author proposes a new type of asset-backed security, called Exchange Traded Pieced Loan (ETPL), designed to address a variety of major issues for savers, lenders, borrowers, authorities and other stakeholders in China's markets for investment and credit. An ETPL's...

Chinese Abstract:...

Chinese Abstract:...

This paper attempts to analyze corporate tax evasion in a principal-agent framework. We assume that the firm's profit is positively related to managerial effort and that the executive compensation is profit-based. In addition, we consider the situation where the manager might underreport the...

The English version of this paper is at: http://ssrn.com/abstract=878672 Chinese Abstract:...

The purpose of this paper is to analyze the impact of corporate governance on technical efficiency. We use the Translog stochastic production function to derive technical efficiency. Four empirical results are observed: (1) Technical efficiency has a negative relationship with the following two...

Special economic zones can be an effective instrument to promote industrialization if implemented properly in the right context. In China, starting in the 1980s, special economic zones were used as a testing ground for the country's transition from a planned to a market economy, and they are a...