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Performance and Growth of Large Firms in China

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Authors
Kang, Young-Sam; Lee, Keun
Issue Date
2008-01
Publisher
Institute of Economic Research, Seoul National University
Citation
Seoul Journal of Economics, Vol.21 No.1, pp. 229-259
Keywords
Finance companyInternal capital marketJoint ventureTechnology transferR&D activity
Abstract
This study examines the impacts of several factors, such as

internal capital markets, technology transfer via FDI, and

in-house R&D activities on the performance and growth of firms

using data gathered from the top 200 companies in China

during the period 1998-2003. A finance company, as an affiliate

in the business group, is used as proxy for the internal capital

market. The foreign joint venture firms and in-house research

center are used as proxies for technology transfer and for the

existence of in-house R&D activities, respectively. This paper

finds that having foreign joint ventures is positively correlated

with the firms growth but not with the financial and market

performance of firms. In contrast, doing in-house R&D activities

is positively correlated with the financial and market performances,

as well as the growth of firms.
ISSN
1225-0279
Language
English
URI
https://hdl.handle.net/10371/42103
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College of Social Sciences (사회과학대학)Institute of Economics Research (경제연구소)Seoul Journal of EconomicsSeoul Journal of Economics vol.21 no.1~4 (2008)
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