The extant literature regarding the effects of housing on stock investment shows inconsistent findings, either positive or negative effects have been reported. This paper investigates the mechanisms by which housing affects household stock investment through a structure equation model (SEM)....

The automobile market in China has seen unprecedented expansion during the past decade with rapid model turnover and dramatic price decline. This paper aims to document the evolution of price and investigate the sources of price decline, paying attention to both market structure and cost...

The purpose of this paper is to put forward the hypothesis that a transformation from closed integral architecture to quasi-open modular architecture contributes to the achievement of a low-cost competitive strategy by Chinese carmakers. Since 2006 China has become the 3rd largest player in the...

Purpose – A successful implementation of mass customization and customer-order-driven production can bring numerous benefits to automakers. However, the transition from mass production to mass customization is difficult. Most of the previous studies focus on mature markets, leaving emerging...

China ist aus eigener Forschungskraft („Make“) auf dem Weg in die Weltspitze der technologischen Innovatoren und bereits heute einer der wichtigsten Konkurrenten für Deutschland. In einzelnen Technologiebereichen (z.B. Kfz) besteht sogar die akute Gefahr eines Leapfroggings. Daneben erwirbt...

This report examines the place of China’s automobile industry in the global market and analyzes the recent, rapid increase in Chinese automobile exports. In addition, the implications carried by the rise of Chinese auto exports for the Korean automobile industry are identified and analyzed

Using household-level survey and housing transaction data, we detect the flight to safety vis-a-vis housing in China: Great economic uncertainty causes the prices of housing assets to soar, especially those of good quality. To stabilize housing prices, China has imposed purchase restrictions on...

This paper discusses three alternative assumptions concerning household preferences (altruism, self-interest, and a desire for dynasty building) and shows that these assumptions have very different implications for bequest motives and bequest division. After reviewing some of the literature on...

This paper analyzes the causes of rising savings rates for the corporate, government, and household sectors, which have jointly contributed to the upsurge in aggregate savings in China in the past two decades. Government policies to rebalance the Chinese economy are also explored. -- aggregate...

Using the Chinese urban household survey data between 1997 and 2006, we find that income inequality has a negative (positive) impact on households' consumption (savings), even after we control for family income. We argue that people save to improve their social status when social status is...