scholarly journals Nonperforming Debts in Chinese Enterprises: Patterns, Causes, and Implications for Banking Reform

2005 ◽  
Vol 4 (3) ◽  
pp. 61-113 ◽  
Author(s):  
Geng Xiao
Keyword(s):  
Asset Management ◽  
Rapid Expansion ◽  
National Bureau ◽  
Ownership Type ◽  
Firm Level ◽  
Chinese Enterprises ◽  
Banking Reform ◽  
Nonperforming Loans ◽  
Industrial Enterprises ◽  
Improved Performance

Given the domination of bank financing, nonperforming debts (NPDs) in large Chinese enterprises are a proxy for nonperforming loans (NPLs) in China's major banks. Using a firm-level survey of more than 20,000 large and medium-sized industrial enterprises conducted by the National Bureau of Statistics of China, this paper estimates both the level and ratio of NPDs across ownership type, industry, and region for the period 1995–2002. The results show that NPD ratios have been falling since 2000 as a result of the rapid expansion of better-performing non-state enterprises (NSEs), the improved performance of state-owned enterprises (SOEs), and the exit of poor-performing enterprises (which has been facilitated by asset management companies and other merger and acquisition activities). SOEs, however, are still much more likely than NSEs to generate NPDs. This paper provides useful tools and sector information for assessing enterprise debt risks and draws lessons for banking reform in China.

scholarly journals Firm Level Strategy, Organization Culture and Performance of Food and Beverage Manufacturing Firms in Kenya

2018 ◽  
Vol 13 (8) ◽  
pp. 224 ◽  
Author(s):  
Zachary B. Awino ◽  
Dominic C. Muteshi ◽  
Reginah K. Kitiabi ◽  
Ganesh P. Pokhariyal
Keyword(s):  
Policy Formulation ◽  
Manufacturing Firms ◽  
Organization Culture ◽  
Hierarchical Regression ◽  
Firm Level ◽  
Food And Beverage ◽  
Improved Performance ◽  
And Performance ◽  
The Impact ◽  
The Relationship

The study tested the impact of organization culture on the on the relationship between firm-level strategy and performance of food and beverage manufacturing firms in Kenya. The opinion of the CEO/MDs from 125 firms in this sector was sought by application of a structured questionnaire; the collected data was analysed using hierarchical regression analysis. The paper stated hypothesis that organizational culture has a significant effect on the relationship between firm-level strategy and performance. The results supported the hypothesis. Therefore, firm development of strong organization culture to support firm-level strategy for higher performance is paramount. These findings will contribute to government policy formulation for sector’s expansion and competitiveness and management drives in building a positive organization culture to support firm-level strategy for improved performance.

How to manage hardware failures

2021 ◽  
pp. 70-72
Author(s):  
A. V. Sidorov ◽  
V. A. Sidorov
Keyword(s):  
Asset Management ◽  
Equipment Failure ◽  
Industrial Enterprises ◽  
Equipment Failures ◽  
Hardware Failures

The first book on a promising new direction — methodology for equipment failure management for technical managers and specialists of industrial enterprises, as well as for all those whose field of expertise includes the need to deal with equipment failures — has been developed and published under the auspices of the Association for Effective Enterprise Asset Management (EAM Association).

A Further Empirical Investigation of German Firms’ Financial Structure and Ensuing Risks / Finanzierungsstrukturen und Risiken im Unternehmenssektor der Bundesrepublik Deutschland – Weitere Ergebnisse anhand von Unternehmensdaten

2001 ◽  
Vol 221 (5-6) ◽  
Author(s):  
Kai Kirchesch ◽  
Marc Sommer ◽  
Peter Stahlecker
Keyword(s):  
Financial Risk ◽  
Empirical Investigation ◽  
Empirical Distribution ◽  
Risk Measures ◽  
Balance Sheet ◽  
Financial Risks ◽  
Firm Level ◽  
Industrial Enterprises ◽  
Level Data ◽  
The Empirical Analysis

SummaryThe changes in the financial structures of West German industrial enterprises have been investigated in Größl/Stahlecker/Wohlers (2001). The empirical analysis confirmed the hypothesis that small and medium-sized enterprises are confronted with higher - and even rising - financial risks than larger enterprises. Thresholds were introduced to serve as signals for lenders to tighten credit conditions or even file for bankruptcy. Unfortunately, the empirical distribution of the financial ratios could not be quantified, because the analysis has been - due to reasons of availability - based on aggregate data. The present paper’s aim is to check the robustness of the results and to quantify the development of the financial risk measures by using firm-level data that have been the base for the Bundesbank’s special evaluation of the balance sheet statistic of West German enterprises. Our results confirm the higher risk position of small and medium-sized enterprises in the period 1987-1996.

Helping Chinese Enterprises be Successful in Global Markets

2011 ◽  
pp. 437-441
Author(s):  
Lu Xiyan
Keyword(s):  
Global Scale ◽  
Rapid Expansion ◽  
Advanced Technology ◽  
Pearl River ◽  
Global Business ◽  
Chinese Enterprises ◽  
Profit Margins ◽  
Financial Strength ◽  
Fierce Competition ◽  
Economic Considerations

Chinese enterprises are developing their global business very quickly and strong national players, such as Haier, HuaWei, TCL, and Pearl River Pianos, are part of this trend. After years of rapid expansion at home and developing an important export business for established overseas producers, these players now have the size, financial strength, and product quality to take on the competition on an international or even global scale. Different from before, when Chinese enterprise was government centered, they are now more driven by economic considerations, such as growing the business overseas and reaping higher profit margins; accessing advanced technology; realizing cost synergies in areas like production, sourcing, and R&D; and creating competitive advantage for the fierce competition in the home market (Wharton, 2005).

On the Environmental Leadership Program of American Xerox

2013 ◽  
Vol 869-870 ◽  
pp. 732-736
Author(s):  
Hong Wang
Keyword(s):  
Environmental Protection ◽  
Waste Disposal ◽  
Asset Management ◽  
Environmental Design ◽  
Leadership Program ◽  
Environmental Leadership ◽  
Chinese Enterprises ◽  
External Relationships ◽  
Taking Responsibility

American Xerox environmental leadership program works in asset management, environmental design and external relationships. It advocates choosing materials to meet environmental protection standards, reducing waste emission, using recycled products and equipment, improving package, and taking responsibility for waste disposal. It helps Xerox not only save money, but also win the long-term development, which is significant for the progress of Chinese enterprises.

The Ethiopian Manufacturing Sector Productivity, Export, and Competitiveness

2019 ◽  
pp. 650-668
Author(s):  
Admasu Shiferaw ◽  
Måns Söderbom
Keyword(s):  
Productivity Growth ◽  
Manufacturing Sector ◽  
Rapid Expansion ◽  
Three Dimensions ◽  
Resource Reallocation ◽  
Firm Level ◽  
Global Context ◽  
Central Statistical ◽  
Statistical Agency

Over the last two decades the Ethiopian manufacturing sector has experienced rapid expansion in terms of the number of firms, sales, and employment. This chapter examines the performance of the manufacturing sector using aggregate data and firm-level panel data compiled by the Central Statistical Agency (CSA) of Ethiopia. The focus is on three dimensions of performance: productivity growth, the extent of export orientation, and the competitiveness of domestic firms in the global context. Manufacturing remains a relatively small sector in terms of contribution to GDP and employment, and it has yet to become export oriented even by African standards. In examining productivity growth, the analysis addresses within-firm productivity growth and its heterogeneity across firms, as well as the role of resource reallocation from less efficient firms to more efficient ones.

The Role of Contextual Combinations in the Globalization of Chinese Firms

2014 ◽  
Vol 10 (3) ◽  
pp. 347-371 ◽  
Author(s):  
John Child ◽  
Svetla Marinova
Keyword(s):  
Host Country ◽  
Specific Reference ◽  
Political Systems ◽  
Chinese Firms ◽  
Firm Level ◽  
Chinese Enterprises ◽  
Foreign Countries ◽  
Country Characteristics ◽  
Learning And Adaptation

AbstractThis paper argues that it is crucial to take account of both home and host country contexts in order, adequately, to understand their implications for Chinese enterprises investing into foreign countries. This calls for an analysis that is sensitive to both home and host country contexts, and that takes into account how the institutions and political systems in those contexts establish institutional and resource capital needs for the overseas-investing firm. We discuss and illustrate three different combinations of Chinese and host country characteristics, and the firm-level learning and adaptation required in the light of the relevant capitals likely to be available to Chinese firms. The analysis draws upon insights from resource-based, institutional, and political perspectives. While it is developed with specific reference to China, we also suggest that this form of analysis can be applied more generally to the implementation of outward foreign direct investment from any country.

R&D, Technology Transfer and Innovation Performance: Evidence from Chinese Industries

2010 ◽  
Vol 108-111 ◽  
pp. 1302-1307 ◽  
Author(s):  
Wu Wei Li
Keyword(s):  
Technology Transfer ◽  
Unit Root Test ◽  
Innovation Performance ◽  
National Bureau ◽  
Causality Test ◽  
Domestic Technology ◽  
Industrial Enterprises ◽  
Product Sales ◽  
Integration Analysis ◽  
Chinese Industries

Based on the data of large and medium-sized industrial enterprises put forward by National Bureau of Statistics of China, over the period 1991-2007, this paper empirically investigates the dynamic econometrical relationship among R&D, technology transfer, including imports of technology and purchase of domestic technology and innovation performance which is denoted by new product sales, using ADF unit root test, co-integration analysis and granger causality test. The empirical research results indicate that innovation performance is granger causing R&D and technology transfer, while R&D and technology transfer are not granger causing innovation performance. Neither the feedback effect between R&D and innovation performance nor that between technology transfer and innovation performance is occurring.

scholarly journals Export activity, R&D investment, and foreign ownership: does it matter for productivity?

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Carlos M.P. Sousa ◽  
Ji Yan ◽  
Emanuel Gomes ◽  
Jorge Lengler
Keyword(s):  
Emerging Market ◽  
Time Lag ◽  
Foreign Ownership ◽  
National Bureau ◽  
Firm Level ◽  
Content Type ◽  
Export Activity ◽  
Learning By Exporting ◽  
The Impact ◽  
D Investment

PurposeThe paper examines the impact of export activity on productivity and how this effect is moderated by R&D investment and foreign ownership.Design/methodology/approachA time-lag effect is taken into account when examining the proposed model. Data are collected from the Annual Industrial Survey of the National Bureau of Statistics of China. A dataset containing 117,340 firms across the sample period (2001–2007) are used to test the hypotheses.FindingsThe results indicate that while R&D investment plays a significant role in strengthening the positive effect of export activity on a firm's productivity, foreign ownership surprisingly has a negative moderating role.Originality/valueScholarly interest in the links between export activity and productivity is on the rise. However, the bulk of research has been focused on understanding the effects of export activity on productivity at the country or industry level. Little has been done at the firm level. Another gap in the literature is that the mechanism through which the impact of export activity can be leveraged to enhance the firm's productivity has been largely ignored. To address these issues, the study adopts the learning-by-exporting theory to examine the relationship between export and productivity at the firm-level and how R&D investment and foreign ownership may explain how learning can be leveraged to enhance the firm's productivity. Finally, these relationships are examined in the context of firms from an emerging market, China, which is especially relevant for the learning-by-exporting argument used in this study.

scholarly journals Financial Constraints, Corporate Savings and Labor Income Share—Based on China’s Economic Transition

2021 ◽  
Vol 14 (1) ◽  
pp. 346
Author(s):  
Jing Ma ◽  
Qiuyun Zhao ◽  
Qing Li ◽  
Hao Yang
Keyword(s):  
Financial Constraints ◽  
Economic Transition ◽  
Negative Relationship ◽  
Economic Transformation ◽  
Labor Income ◽  
Firm Level ◽  
Income Share ◽  
Industrial Enterprises ◽  
Savings Rate ◽  
China’S Economy

What causes are responsible for China’s declining labor income share? We investigate this phenomenon in depth from the standpoint of financial constraints. By summarizing the stylized facts of China’s economy, this paper demonstrates that as China’s economy transforms, the financial market’s imperfections lead to more efficient (non-state-owned) enterprises inclined to use corporate savings for the purpose of “crowding out” workers’ remuneration for endogenous financing, resulting in a rising savings rate and a declining share of labor income. On this foundation, we construct a more general theoretical model regarding China’s economic transformation, propose research propositions, and conduct an empirical study utilizing the Chinese Industrial Enterprises Database from 1999 to 2007. The findings show a strong negative relationship between the financial market imperfections and the labor income share, with a 1% increase in financial constraints reducing labor income share by 0.051%. The rise in savings as a result of the financial restrictions works as a mediator variable in this process. Furthermore, our prediction for the path of the labor income share suggests that China’s savings rate would decline after reaching its peak, while the labor income share will bottom out and rebound by the end of the country’s economic transition. This study uses firm-level micro-data to reveal the internal mechanism of financial constraints lowering labor income share, which is a useful supplement to the existing literature. It also provides empirical evidence and policy options for developing countries to reform their financial systems and increase labor income share in the pursuit of sustainable development.

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