The paper describes the emergence of entrepreneurship in Shanxi province based on fieldwork in the last 6 years. Employing institutional and evolutionary economics shows that both the kind of firms that emerge and the individual behaviour of entrepreneurs reflect a systematic response to the...

This article examines why China does not abolish the minimum capital requirement for the limited liability companies (LLCs). By substantially reducing LLCs' minimum initial capitalisation to RMB 30,000, the revised Company Law has largely resolved the problems of discouraging entrepreneurship...

Cheap, abundant and easy to transport and store, coal has been produced and consumed to meet people’s energy needs. The last decade’s growth in global coal use has been driven mainly by developing economies like China, whose phenomenal economic growth has been powered by coal-fired...

An ongoing reform in China mandates employers to contribute significant amounts to employee pension funds. The current study estimates the impact of this reform on the wage, employment and performance of firms using data from over 140,000 medium and large manufacturers in China during 2004 and...

The main objective of this research is to analyze the effects of the fiscal dimension of China’s government transfer and preferential tax policy on regional income disparity and poverty reduction. Using a computable general equilibrium model with a three-region component, we find that the...

Bearing the legacy from central-planned system, the tax system in local China still lacks transparency and, in many cases, the liabilities of firms, especially those with extensive influences, are subject to negotiation despite the new tax-reform 1994. Applying Hirschman’s Exit-Voice theory,...

The most important aspect of the Chinese economy today is its rapid changes. The changes are propelled by the Chinese entrepreneurs. This essay is an attempt to understand who the entrepreneurs are, the environment in which they work, whether the dynamic changes will continue and what policies...

A long literature in empirical finance has isolated both a value and a small-capitalization effect in asset pricing. This study confirms the existence of these style effects both in new types of equity indexes and in the stocks of Chinese companies traded in international markets. We then...

The report identifies concerns with the EU anti-dumping instrument, as applied today, regardless of the fact that the investigation procedures and methods might be in line with the current regulation and practice. The report's arguments are based on the recent anti-dumping investigation – and...

This paper estimates the affordability of Chinese companies on energy cost increases due to the introduction of market-based climate policies. The data were collected from 170 respondents mainly from iron and steel, cement and chemical industries, using a multiple-bounded discrete choice (MBDC)...