scholarly journals Weak Law v. Strong Ties: An Empirical Study of Business Investment, Law and Political Connections in China

2017 ◽  
Vol 13 (1) ◽  
Author(s):  
Wei Zhang ◽  
Ji Li
Keyword(s):  
Political Institutions ◽  
Large Scale ◽  
Positive Association ◽  
Private Investment ◽  
Political Connections ◽  
Private Companies ◽  
Conventional View ◽  
Chinese Entrepreneurs ◽  
Private Entrepreneurs

AbstractBased on a large-scale survey of Chinese entrepreneurs, our study explores how legal and political institutions influence investment decisions made by private companies. The study finds that, consistent with the conventional view, a more effective legal system is correlated with short-term general investment, and that the judiciary is important mainly because of its restraint over the state. The role of effective courts, however, diminishes when private entrepreneurs consider making long-term investment. We find a positive association between the entrepreneurs’ political backgrounds and their R&D investment, suggesting that Chinese courts, in spite of decades of reform, are not yet viewed as reliable to protect long-term private investment from expropriation, policy instability, and a hostile regulatory environment. Rather, informal political connections constitute the premise for the protection of long-term investment. We also find evidence indicating that political ties are expensive resources to accumulate and maintain, so Chinese entrepreneurs tap into them only when substantial long-term interests are at stake. The findings contribute to the literature on law and economic development.

scholarly journals Stimulation of investment processes in renewable energy sector

2021 ◽  
Vol 255 ◽  
pp. 01048
Author(s):  
Nataliia Savina ◽  
Yevheniia Sribna ◽  
Volodymyr Yemelyanov ◽  
Svitlana Dombrovska ◽  
Dmytro Mishchenko
Keyword(s):  
Solar Energy ◽  
Large Scale ◽  
Private Investment ◽  
Capital Intensity ◽  
Climatic Conditions ◽  
Investment Climate ◽  
Private Companies ◽  
Resource Intensity ◽  
The Cost ◽  
National Economies

The purpose of the article is to assess the pace of capital contribution and investment in solar energy in order to increase the energy security of national economies. The study analyzes the development of the global solar industry for years 2009-2019 in the context of investment support. The main stages of development of world solar energy are marked and the priority of countries and regions is determined. Factors of attractiveness of solar energy for private investment are noted, namely the investment climate is formed at the expense of legislative maintenance of this sphere, and in the economic plan at the expense of introduction of the «green» tariff. Two main investment processes in the development of solar energy are noted. First, these are large private companies that implement large-scale projects from solar stations. Secondly, this small private investment to provide electric for households that identified a small city urbanization and climatic conditions. It was found that the solar energy market depends more on capital intensity than on resource intensity. The result of economic calculation is indicated, which allowed to determine the term of reduction of the cost price of 1 kW of photovoltaic power station electricity to the level of NPP production cost for ten years.

Political connectedness and business performance: evidence from Turkish industry rankings

2015 ◽  
Vol 17 (1) ◽  
pp. 41-73 ◽  
Author(s):  
Gül Berna Özcan ◽  
Umut Gündüz
Keyword(s):  
Statistical Analysis ◽  
Political Institutions ◽  
Business Performance ◽  
Political Connections ◽  
Firm Level ◽  
Level Data ◽  
Firm Level Data ◽  
The Impact ◽  
Political Connectedness

This paper examines the degree to which political connections affect business rankings through a statistical analysis of Turkey's industry rankings between 2003 and 2011. The analysis demonstrates that business performance is associated with connectedness through industry and firm level data. We show that political connectedness varies according to the firm's channel of access to obtain favouritism either through direct personal ties or institutional networks. Ideological motivations emerge to be significant in mobilizing, shaping and tying firm behaviour to broader political agendas. In the conclusion we discuss the impact of deepening connectedness on long-term business fortunes and political institutions.

The Rise and Fall of State Enterprises

2018 ◽  
Author(s):  
Armando Castelar Pinheiro
Keyword(s):  
Private Investment ◽  
Policy Instrument ◽  
Pension Funds ◽  
Manufacturing Firms ◽  
The State ◽  
Private Companies ◽  
History Of ◽  
State Enterprises ◽  
Second Period

We can divide the history of Brazilian state-owned enterprise (SOEs) into two periods. In the first (1930s to late 1970s), SOEs were a policy instrument in state-led industrialization. They produced manufactured goods, supplied cheap inputs to private manufacturing firms, and financed those companies with long-term, subsidized loans. In the second period (1980s to the early 2000s), Brazil privatized several of its main SOEs. Privatization was mainly seen as an answer to macroeconomic problems and did not result from a national ideological about-face; indeed, most Brazilians continued to trust the state to lead development. Thus, the fall of SOEs was relative. Large companies such as Petrobrás and Eletrobrás continue in state hands. Moreover, the Lula and Rousseff administrations created several SOEs and strengthened others. And the state developed new channels to influence private investment, through a network of equity participations in private companies, held by BNDES and SOE pension funds.

Socialist Transformation and the Demise of Private Entrepreneurs

2014 ◽  
Vol 13 (2) ◽  
pp. 240-261 ◽  
Author(s):  
Zhengqing Chen
Keyword(s):  
Industrial Production ◽  
Political System ◽  
Management Policy ◽  
Private Companies ◽  
The Public ◽  
Republican Period ◽  
Joint Management ◽  
Chinese Entrepreneurs ◽  
Private Entrepreneurs ◽  
National Bourgeoisie

This paper examines the fate of Wu Yunchu, a major industrialist in the Republican period, and his Tian-brand companies after 1949. Although the ccp had proclaimed its desire to include the ‘national bourgeoisie’ in the new political system and to support private enterprise, it disavowed itself with the launching of the public–private joint management policy that de facto eliminated the private sector. The paper argues that the partly state-owned and fully private companies followed a different path, but eventually all came under the fold of the socialist state. Conceived in ideological terms and implemented hastily, the so-called ‘socialist transformation’ (shehuizhuyi gaizao) suppressed any hope the Chinese entrepreneurs may have entertained of playing a role in Chinese development and society. At the same time, the ill-conceived policy created numerous hurdles that actually hurt national industrial production.

Power Africa could provide long-term electricity boost

2015 ◽  
Keyword(s):  
Power Plants ◽  
Large Scale ◽  
Thermal Power ◽  
Private Investment ◽  
Private Capital ◽  
Content Type ◽  
The Us ◽  
Slow Progress ◽  
Gas Supply

Subject Tracking progress on Power Africa. Significance US President Barack Obama's five-year Power Africa initiative announced in June 2013 faces growing criticism for slow progress as it approaches its halfway point in December. The US Overseas Private Investment Corporation (OPIC) announced 'critical milestones' for commitments only last month for four flagship projects, two large-scale wind schemes in Kenya and thermal power plants in Senegal and Ghana. Impacts Power Africa will stand as a test of whether infrastructure deficits can be plugged by combining private capital with public guarantees. Private investment will not materialise in sufficient quantities so long as it operates within inefficient state-monopolised sectors. Inefficiencies such as gas-supply problems and subsidies will further undermine the effect of private investment operating on the margins.

Evolution of Large-Scale Coronal Structures

1994 ◽  
Vol 144 ◽  
pp. 29-33
Author(s):  
P. Ambrož
Keyword(s):  
Magnetic Field ◽  
Field Line ◽  
Large Scale ◽  
Coronal Magnetic Field ◽  
Source Surface ◽  
Solar Cycles ◽  
Characteristic Relationship ◽  
The Magnetic Field ◽  
Coronal Structures

AbstractThe large-scale coronal structures observed during the sporadically visible solar eclipses were compared with the numerically extrapolated field-line structures of coronal magnetic field. A characteristic relationship between the observed structures of coronal plasma and the magnetic field line configurations was determined. The long-term evolution of large scale coronal structures inferred from photospheric magnetic observations in the course of 11- and 22-year solar cycles is described.Some known parameters, such as the source surface radius, or coronal rotation rate are discussed and actually interpreted. A relation between the large-scale photospheric magnetic field evolution and the coronal structure rearrangement is demonstrated.

Computer Analyses in Preventive Health Research

1967 ◽  
Vol 06 (01) ◽  
pp. 8-14 ◽  
Author(s):  
M. F. Collen
Keyword(s):  
Medical Research ◽  
Preventive Medicine ◽  
Health Research ◽  
Large Scale ◽  
Preventive Health ◽  
New Era ◽  
Large Numbers ◽  
Normal Test ◽  
Computer Analyses

The utilization of an automated multitest laboratory as a data acquisition center and of a computer for trie data processing and analysis permits large scale preventive medical research previously not feasible. Normal test values are easily generated for the particular population studied. Long-term epidemiological research on large numbers of persons becomes practical. It is our belief that the advent of automation and computers has introduced a new era of preventive medicine.

Sinn Féin and the IRA

2018 ◽  
Author(s):  
Mathew Whiting
Keyword(s):  
Northern Ireland ◽  
Political Institutions ◽  
Sinn Fein ◽  
Peace Processes ◽  
British Rule ◽  
Irish Republicanism ◽  
The Republic ◽  
British State ◽  
State Responses

When Sinn Féin and the IRA emerged in Northern Ireland in 1969 they used a combination of revolutionary politics and violence to an effort to overthrow British rule. Today, the IRA is in a state of ‘retirement’, violence is a tactic of the past, and Sinn Féin is a co-ruler of Northern Ireland and an ever growing political player in the Republic of Ireland. This is one of the most startling transformations of a radical violent movement into a peaceful political one in recent times. So what exactly changed within Irish republicanism, what remains the same, and, crucially, what caused these changes? Where existing studies explain the decision to end violence as the product of stalemate or strategic interplay with the British state, this book draws on a wealth of archival material and interviews to argue that moderation was a long-term process of increasing inclusion and contact with political institutions, which gradually extracted moderate concessions from republicanism. Crucially, these concessions did not necessitate republicans forsaking their long-term ethno-national goals. The book also considers the wider implications of Irish republicanism for other cases of separatist conflict, and has significance for the future study of state responses to violent separatism and of comparative peace processes.

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