During the last ten years, despite China’s remarkable progress in the development of its venture capital market, its domestic venture capital has been marginalized by American competitors. Given the different performance between them, the author contends that the corporate governance system of Chinese state-controlled listed companies has hampered the performance of the institutional factors which are responsible for the prosperity of American venture capital in Chinese venture capital markets.
With the practice of American venture capital as the mirror, he empirically demonstrates that Chinese domestic venture capital lacks the four factors related to the success of their American counterparts: large and independent funding, application of incentive mechanisms, efficient exit channels, and a high risk tolerance level. More importantly, these defects as a whole are closely linked to the corporate governance of state-controlled listed companies. Considering the potential negative consequences on economic and social development, the author identifies policy reforms underway to harmonize agency costs and adaptive efficiency.
In collaboration with the first volume, this handbook takes stock of the main empirical findings to date across an unprecedented spectrum of corporate finance issues. The surveys are written by leading empirical researchers that remain active in their respective areas of interest. With few exceptions, the writing style makes the chapters accessible to industry practitioners. For doctoral students and seasoned academics, the surveys offer dense roadmaps into the empirical research landscape and provide suggestions for future work.Nine original chapters summarize research advances and future topics in the classical issues of capital structure choice, corporate investment behavior, and firm valueMultinational comparisons underline the volume's empirical perspectivesComplements the presentation of econometric issues, banking, and capital acquisition research covered by Volume 1
The Art of Capital Restructuring provides a fresh look at the current state of mergers, acquisitions, and corporate restructuring around the world. The dynamic nature of M&As requires an evolving understanding of the field, and this book considers several different forms of physical restructuring such as divestitures as well as financial restructuring, which refers to alterations in the capital structure of the firm.
The Art of Capital Restructuring not only explains the financial aspects of these transactions but also examines legal, regulatory, tax, ethical, social, and behavioral considerations. In addition to this timely information, coverage also includes discussion of basic concepts, motives, strategies, and techniques as well as their application to increasingly complex, real-world situations.Emphasizes best practices that lead to M&A success Contains important and relevant research studies based on recent developments in the field Comprised of contributed chapters from both experienced professionals and academics, offering a variety of perspectives and a rich interplay of ideas
Skillfully blending theory with practice, this book will put you in a better position to make the right decisions with regard to capital restructuring in today's dynamic business world.
Due diligence is crucial to any business deal, and, thankfully, due diligence research has come a long way over the years. What used to be a cumbersome, time-consuming process has been standardized and systemized with generally accepted auditing frameworks and tools, such as the all-important auditing "checklists." But when it comes to doing due diligence in China, with its opaque regulatory system and byzantine accounting standards, all bets are off. In this book an acknowledged expert in the field takes you beyond the checklists to arm you with China-specific due diligence strategies, tools and techniques that go beyond what is typically part of the process.Gives a detailed account of why conventional frameworks used in the west simply don't work in China Provides first-hand accounts based on the author's years of experience as a private equity professional doing deals in China Reviews, in-depth, the unique differences between corporations and businesses in China and those in the West and their implications for the due diligence process Uses numerous case studies to guide the reader through an entire due diligence process for a firm in China
- Features over 7000 names for you to choose from, arranged both alphabetically and in
- Covers names from every origin, from Celtic and Sanskrit to brand-new names for the
- Gives you handy hints and insights into the naming process
- Offers you support for dealing with those naming arguments
- Uniquely comprehensive and affordably priced
NOT GOT MUCH TIME?
One, five and ten-minute introductions to key principles to get you started.
Lots of instant help with common problems and quick tips for success, based on the author's many years of experience.
Tests in the book and online to keep track of your progress.
EXTEND YOUR KNOWLEDGE
Extra online articles at www.teachyourself.com to give you a richer understanding of how to select a baby name.
FIVE THINGS TO REMEMBER
Quick refreshers to help you remember the key facts.
Innovative exercises illustrate what you've learnt and how to use it.
The 265 revised full papers presented were carefully reviewed and selected from 651 submissions. The papers in this second volume of the set are organized in topical sections on HMI and robot simulations; modeling and simulation for intelligent manufacturing; military simulation; visualization and virtual reality.