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Performance and Growth of Large Firms in China
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- Authors
- Issue Date
- 2008-01
- Citation
- Seoul Journal of Economics, Vol.21 No.1, pp. 229-259
- Keywords
- Finance company ; Internal capital market ; Joint venture ; Technology transfer ; R&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
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