The study investigates the role of financial development in boosting the investment efficiency of firms' investments in China. Using a large sample of firm-level financial data and country level economic data over the period 2004-2015, present study creates a link between financial and real...

Taking listed companies of strategic emerging industries as the research subject, this paper uses KZ index to measure the degrees of financing constraints and financial intermediary as well as the stock market to represent the level of financial development. Then empirical models are constructed...

This book sets out to analyze how the OBOR initiative will influence the world's geo-political and geo-economic environment, with specific regard to the "Belt and Road" countries and regions. It evaluates what opportunities the OBOR can offer them in light of the constraints they face, paying...

This study examines the relationship between firm characteristics and borrowing from commercial banks by small and medium-sized enterprises (SMEs) in the People's Republic of China (PRC) and five Southeast Asian economies (Indonesia, Malaysia, the Philippines, Thailand, and Viet Nam). Analysis...

Die vorliegende Dissertation besteht aus vier empirischen Abhandlungen zur Wertschöpfung im Bereich Private Equity (im folgenden PE). Wertschöpfung steht im Zentrum des PE-Geschäftsmodells, da sich wertsteigernde Mechanismen positiv auf die Eigenkapitalrendite der Investoren auswirken. Die...

We examine the role of firms' government connections, defined by government intervention in CEO appointment and the status of state ownership, in determining the severity of financial constraints faced by Chinese firms. We demonstrate that government connections are associated with substantially...

Using municipal cities during China’s reform era as the setting, we investigate how different aspects of financial development affect resource misallocation in an integrated framework. Using different identification strategies, we find that local government-driven finance exacerbates the...

A Chinese subsidiary of a foreign bank issued yuan-denominated bonds on China's domestic interbank bond market for the first time on 20 May 2010. China's corporate bond market, although split between an exchange and an OTC market, has been growing since 2008, but total corporate bonds...