by Ho Pui Sim, Charissa, Tsui Chi Kei, Libra. / Thesis (M.B.A.)--Chinese University of Hong Kong, 1991. / Bibliography: leaves XI-XII. / Abstract --- p.i / Acknowledgements --- p.vii / List of Exhibits --- p.viii / Chapter 1 --- INTRODUCTION --- p.1 / Chapter 1.1 --- Financial Structure --- p.1 / Chapter 1.2 --- Hong Kong Listed Companies --- p.1 / Chapter 1.3 --- Rationale --- p.2 / Chapter 1.4 --- Financial Structure Theories --- p.3 / Chapter 1.4.1 --- Static Tradeoff Models / Chapter 1.4.2 --- Pecking Order Hypothesis / Chapter 1.4.3 --- Other Models / Chapter 1.5 --- Statement of the Problem --- p.5 / Chapter 2 --- METHODOLOGY AND PRESENTATION OF RESULTS --- p.6 / Chapter 2.1 --- Methodology --- p.6 / Chapter 2.1.1 --- Literature Review / Chapter 2.1.2 --- Survey / Chapter 2.1.3 --- Interviews / Chapter 2.2 --- Study Constraints --- p.7 / Chapter 2.3 --- Presentation of Results --- p.7 / Chapter 3 --- FINANCIAL STRUCTURE DECISION --- p.9 / Chapter 3.1 --- Background of Respondents --- p.9 / Chapter 3.2 --- Static Tradeoff vs. Pecking Order and Other Models --- p.9 / Chapter 3.3 --- Preference for Sources of Funds --- p.10 / Chapter 3.4 --- Term to Maturity of Debts --- p.13 / Chapter 3.5 --- Organization of Financing Decision --- p.14 / Chapter 4 --- SPECIFIC FINANCIAL STRUCTURE MODELS AND PLANNING PRINCIPLES --- p.14 / Chapter 4.1 --- Specific Financial Structure Models --- p.16 / Chapter 4.2 --- Financial Planning Principles --- p.19 / Chapter 4.3 --- Perception on Market Efficiency --- p.21 / Chapter 4.3.1 --- Impact on Financing Choice / Chapter 4.4 --- Information Contents of New Stock Issues --- p.23 / Chapter 5 --- SECTORAL ANALYSIS --- p.24 / Chapter 5.1 --- Static Tradeoff vs. Pecking Order and Other Models --- p.24 / Chapter 5.2 --- Preference for Sources of Funds --- p.25 / Chapter 5.3 --- Term to Maturity of Debts --- p.27 / Chapter 5.4 --- Financial Planning Principles --- p.28 / Chapter 5.5 --- Financial Structure Models Inputs --- p.30 / Chapter 6 --- ASSET SIZE ANALYSIS --- p.33 / Chapter 6.1 --- Static Tradeoff vs. Pecking Order and Other Models --- p.33 / Chapter 6.2 --- Preference for Sources of Funds --- p.34 / Chapter 6.3 --- Term to Maturity of Debts --- p.35 / Chapter 6.4 --- Financial Planning Principles --- p.36 / Chapter 6.5 --- Financial -Structure Models Inputs --- p.38 / Chapter 7 --- FINANCING DECISIONS AND OTHER SOURCES AND USES OF FUNDS --- p.42 / Chapter 7.1 --- An Overview of Findings --- p.42 / Chapter 7.2 --- Implications of Findings --- p.42 / Chapter 7.3 --- Contrast with the Findings of Pinegar and Wilbricht --- p.43 / Chapter 7.4 --- Impact of Business Nature --- p.43 / Chapter 7.5 --- Impact of Asset Size --- p.45 / Chapter 8 --- CONCLUSION --- p.47 / Chapter 8.1 --- Objectives of the study --- p.47 / Chapter 8.2 --- Summary of findings --- p.48 / Chapter 8.2.1 --- Sectoral Analysis / Chapter 8.2.2 --- Asset Size Analysis / Chapter 8.2.3 --- Comparison between the Findings in Hong Kong and US / Chapter 8.3 --- Implications and Assessment of Findings --- p.51 / APPENDICES --- p.I / Chapter Appendix 1 --- Cover Letter / Chapter Appendix 2 --- Financial Structure Questionnaire / Chapter Appendix 3 --- Business Nature of Respondents / Chapter Appendix 4 --- Asset Size of Respondents / Chapter Appendix 5 --- Financial Structure Models Used By Respondents / Chapter Appendix 6 --- Market Efficiency Perceptions / Chapter Appendix 7 --- Events of Mispricing / Chapter Appendix 8 --- Pearson's R Correlation Between Market Efficiency Perceptions and Importance Assigned to Inputs / BIBLIOGRAPHY --- p.XI

by Chan Shet Hung, Suzanne, Ma Yuk Lun, Yu Sai Hung. / Thesis (M.B.A.)--Chinese University of Hong Kong, 1995. / Includes bibliographical references (leaves 64-67). / TABLE OF CONTENTS --- p.ii / LIST OF ILLUSTRATIONS --- p.iv / LIST OF TABLES --- p.v / Chapter / Chapter I. --- INTRODUCTION --- p.1 / Objectives --- p.1 / Scope of Study --- p.2 / Literature Review --- p.3 / Methodology --- p.6 / Sources of Data --- p.6 / Statistical Measurement --- p.6 / Chapter II. --- CONCEPTUAL FRAMEWORK --- p.8 / Regulatory Requirements for Dividend Payment in Hong Kong --- p.8 / Other Factors Affecting Dividend Policies --- p.9 / Common Dividend Policies --- p.10 / High Dividend Payout Policy --- p.10 / Constant Payout Ratio Policy --- p.11 / Constant Dividend Payment Policy --- p.12 / Low Dividend Payout Policy --- p.12 / Residual/Passive Dividend Policy --- p.13 / Chapter III. --- FINDINGS AND ANALYSIS --- p.14 / Overall Trend --- p.14 / Economic Growth and Market Performance Trend --- p.14 / Earnings and Dividend Trend --- p.15 / Analysis By Industry: Finance and Banking --- p.16 / Industry Operating Environment --- p.16 / Earnings and Dividend --- p.17 / Industry Norm Dividend Policy --- p.19 / Analysis of Representative Company in Industry --- p.19 / Analysis By Industry: Property --- p.22 / Industry Operating Environment --- p.22 / Earnings and Dividend --- p.23 / Industry Norm Dividend Policy --- p.24 / Analysis of Representative Company in Industry --- p.25 / Analysis By Industry: Congomerate Enterprise --- p.28 / Industry Operating Environment --- p.28 / Earnings and Dividend --- p.29 / Industry Norm Dividend Policy --- p.29 / Analysis of Representative Company in Industry --- p.30 / Analysis By Industry: Industrial --- p.33 / Industrial Operating Environment --- p.33 / Earnings and Dividends --- p.34 / Industry Norm Dividend Policy --- p.35 / Analysis of Representative Company in Industry --- p.36 / Analysis By Industry: Hotel --- p.38 / Industry Operating Environment --- p.39 / Earnings and Dividends --- p.34 / Industry Norm Dividend Policy --- p.41 / Analysis of Representative Company in Industry --- p.42 / Analysis By Industry: Utilities --- p.44 / Industry Operating Environment --- p.44 / Earnings and Dividends --- p.45 / Industry Norm Dividend Policy --- p.47 / Analysis of Representative Company in Industry --- p.48 / Chapter IV. --- CONCLUSIONS --- p.50 / Most Popular Dividend Policy --- p.50 / Statistical Analysis Result --- p.53 / APPENDIX --- p.55 / BIBLIOGRAPHY --- p.64

by Chan Tse-Kit, Chau Wing-Hong. / Thesis (M.B.A.)--Chinese University of Hong Kong, 1996. / Includes bibliographical references (leaves 41-44). / ABSTRACT --- p.ii / TABLE OF CONTENTS --- p.iii / ACKNOWLEDGMENTS --- p.v / Chapter I. --- INTRODUCTION --- p.1 / Chapter II. --- OBJECTIVES --- p.4 / Chapter III. --- LITERATURE REVIEW --- p.5 / Chapter IV. --- DATA SAMPLE AND SOURCES --- p.10 / Chapter V. --- METHODOLOGY --- p.11 / Chapter VI. --- LIMITATIONS --- p.16 / Survival Bias --- p.16 / Time Lag --- p.16 / Change Financial Year End --- p.17 / Chapter VII. --- SAMPLE SUMMARY STATISTICS --- p.18 / Number of Samples --- p.18 / Sample Characteristics at Year 0 (Listing Year) --- p.19 / Implications --- p.19 / Chapter VIII. --- SUMMARY RESULTS --- p.20 / All Samples/No Segmentation --- p.20 / ROA --- p.20 / Profit Margin --- p.21 / Assets/Turnover --- p.21 / Current Ratio --- p.22 / ROE --- p.23 / EPS --- p.23 / Summary --- p.23 / Segmented by Assets Size in Year -1 --- p.25 / RQA --- p.25 / Profit Margin --- p.26 / ROE --- p.27 / EPS --- p.28 / Summary --- p.29 / Segmented by Major Shareholders' % Share in Year 0 --- p.30 / ROA --- p.30 / Profit Margin --- p.31 / ROE --- p.32 / EPS --- p.33 / Summary --- p.33 / Chapter IX. --- FINDINGS --- p.34 / Decline in Operating Performance --- p.34 / Asset Size --- p.36 / Relation between Managerial Ownership Retention and Operating Performance --- p.37 / Debt Reduction --- p.37 / Chapter X. --- RECOMMENDATIONS TO INVESTORS --- p.38 / Read the Prospectus Carefully --- p.38 / Be Aware of the Pattern --- p.39 / Chapter XI. --- CONCLUSIONS --- p.40 / BIBLIOGRAPHY --- p.41 / APPENDICES

by Chan Tsz Fai. / Thesis (M.Phil.)--Chinese University of Hong Kong, 1999. / Includes bibliographical references (leaves 128-136). / Abstracts in English and Chinese. / ABSTRACT --- p.iii / 撮要 --- p.v / TABLE OF CONTENTS --- p.vi / LIST OF TABLES --- p.x / Chapter CHAPTER I --- INTRODUCTION --- p.1 / Chapter CHAPTER II --- LITERATURE REVIEW --- p.6 / Contemporary IJVs in China --- p.6 / Prior Analysis of IJV Partnership and Performance --- p.9 / Definition of JVs Partnership --- p.9 / Performance --- p.10 / Relationship between Partnership and Performance --- p.10 / Japanese Investment in China --- p.12 / IJVs Problem in China: A Global Perspective --- p.15 / Cultural Differences --- p.16 / Language Barrier --- p.18 / Cross Cultural Negotiation Style --- p.19 / Management Style --- p.20 / Government Policies --- p.22 / Disparate Management Style between Foreign-Chinese IJVs Partnership --- p.23 / Chinese Enterprises with Foreign Exchange Shortages --- p.25 / Lack of Strong Technology Base of Chinese Enterprises --- p.26 / Inadequate Infrastructure Support --- p.31 / Hong Kong Firms' Advantage in Interconnecting Economic and Socio-Cultural Systems between the East and the West --- p.35 / The Role of Hong Kong Companies: the Source of Boosting the Competitive Advantage of Future Foreign-Chinese Joint Venture --- p.35 / Intermediary Organization --- p.37 / Hong Kong: as an Economic Center for Trade and Investment to China --- p.40 / The Japan --- p.41 / China --- p.42 / "Opportunities, Geographical Location and Human Factors have Brought About Hong Kong's Unique Status and Role in China's Opening Up" --- p.42 / "Similarity Between Hong Kong, China and The West (Japan)" --- p.43 / Trade Policy --- p.43 / Language --- p.44 / Geographical Proximity --- p.44 / Infrastructure --- p.45 / "Similarity in Cultural Systems Between Hong Kong, China and the West" --- p.45 / Why the Intermediary Organization Formed: The Theory of International Trade in Intermediary Services --- p.50 / Decentralization and Intermediation --- p.51 / Hong Kong Firm as a Facilitator --- p.52 / Chapter (1) --- Hong Kong as a Local Conduit/Gateway to the Local Market --- p.52 / Chapter (2) --- Hong Kong as a Location for Different Kind of Firms --- p.56 / Chapter (3) --- Hong Kong as a Training Center for Foreign and Chinese Expatriates --- p.57 / Chapter (4) --- Hong Kong as Versatile Chinese Experts for Both Foreign and Chinese Firms --- p.59 / Chapter (5) --- Hong Kong as a Source of Availability of Professional Firm --- p.60 / Chapter (6) --- Hong Kong as a Trading and Infrastructure Center of China Trade --- p.61 / Hong Kong as a Financier --- p.62 / Chapter (1) --- Hong Kong Firm as the Leading Role in Syndicating Loans --- p.64 / Chapter (2) --- Hong Kong Firm as an Investor --- p.65 / Hong Kong firm as Packager and Integrator --- p.66 / Technological Propensity --- p.67 / Flexible Response in Their Strategies --- p.68 / Packaging and Integration Capability --- p.68 / Hong Kong as a Trading Partner --- p.69 / Chapter (1) --- Hong Kong as a Supply Source of Commodities-Domestic Export to China --- p.70 / Chapter (2) --- Hong Kong as a Consumer of Chinese Goods --- p.72 / Hong Kong as Middleman --- p.73 / Significance of Entrepot Trade (Re-export) --- p.73 / The Prospect of the Hong Kong Firms as a Middleman --- p.74 / Summary --- p.75 / Chapter CHAPTER III --- HYPOTHESES DEVELOPMENT --- p.79 / Hypothesis 1 --- p.83 / Hypothesis 2 --- p.85 / Comparison of IJVs' Performance in Non-metropolitan Regions against Metropolitan regions: Do Hong Kong Firms Really Help the Japanese and Chinese IJVs --- p.85 / Hypothesis 3 (a) --- p.87 / Hypothesis 3 (b) --- p.89 / Hypothesis 3 (c) --- p.91 / Chapter CHAPTER IV --- RESEARCH METHODOLOGY --- p.93 / Sample --- p.93 / The Database of Japanese Entries --- p.93 / Measurement --- p.95 / Dependent Variables --- p.95 / Independent Variables --- p.96 / Subsidiary Type --- p.96 / Regional Variable --- p.97 / Chapter CHAPTER V --- DATA ANALYSIS --- p.99 / Chapter CHAPTER VI --- FINDING AND DISCUSSION --- p.103 / Evaluation of Hypotheses --- p.103 / Interfirm diversity and Performance --- p.104 / Local Familiarity and Performance --- p.105 / Challenges to Hong Kong firms as an Intermediators --- p.108 / The Short-sight of Hong Kong Manufacturers --- p.113 / Chapter CHAPTER VII --- CONCLUSION --- p.119 / Implication of Hong Kong Enterprises --- p.120 / Implication for Theory Development --- p.122 / Limitations --- p.123 / REFERENCES --- p.128

by Lee Ka Wing, Liu Chi Ngai. / Thesis (M.B.A.)--Chinese University of Hong Kong, 2001. / Includes bibliographical references (leaves 46-47). / ABSTRACT --- p.i / TABLE OF CONTENTS --- p.ii / Chapter / Chapter I. --- INTRODUCTION --- p.1 / Chapter II. --- COMPANY BACKGROUND --- p.3 / Pacific Century CyberWorks Limited --- p.3 / History --- p.3 / Major Business --- p.5 / Performance --- p.7 / Management of PCCW --- p.8 / Shareholdings Distribution (Prior to the merger) --- p.9 / Cable & Wireless HKT --- p.9 / History --- p.10 / Major business --- p.11 / Performance --- p.11 / Shareholdings Distribution (Prior to the merger) --- p.13 / Chapter III. --- REASONS FOR THE ACQUISITION --- p.14 / Chapter IV. --- MAJOR EVENTS --- p.17 / Competitive bid by SingTel --- p.17 / Arrangement for the USS12 billion loan --- p.18 / The Composite Document --- p.19 / Stories Behind the Offers (Prior to the Mergcr) --- p.20 / Probable strategy of C&W behind the acceptance --- p.21 / Chapter V. --- FINANCING PACKAGE --- p.24 / PCCW Equity Funding --- p.24 / PCCW Loan Funding --- p.25 / Chapter VI. --- ANALYSIS ON THE EFFECTS OF CORPORATE ANNOUNCEMENTS --- p.27 / Market Efficiency --- p.27 / Methodology --- p.28 / Announcements --- p.29 / Chapter VII. --- AFTERMATH --- p.31 / Financial Ferformance --- p.31 / What Went Wrong? --- p.32 / Economic and Corporate Governance --- p.34 / APPENDIX --- p.39 / BIBLIOGRAPHY --- p.46

by Mao Yim Cheung, Ng Kai Chung. / Thesis (M.B.A.)--Chinese University of Hong Kong, 2001. / Includes bibliographical references (leaves 58-59). / ABSTRACT --- p.i / CHAPTER / Chapter I. --- INTRODUCTION --- p.1 / Chapter II. --- LITERATURE REVIEW --- p.6 / Chapter (I) --- Review Of The Justifications For A Merged Entity Failing To Create Value --- p.6 / Chapter (II) --- Analytical Framework --- p.13 / Chapter III. --- COMPANY BACKGROUND --- p.27 / Chapter (I) --- Pacific Century Cyber Works --- p.27 / Chapter (II) --- Cable & Wireless HKT --- p.33 / Chapter IV. --- MERGER DIAGNOSIS --- p.37 / Chapter (I) --- Value Dynamics Framework Analysis --- p.37 / Chapter V. --- RECOMMENDATIONS --- p.52 / Chapter (I) --- Reposition NOW --- p.52 / Chapter (II) --- Focus More On HKT's Corporate Clients --- p.52 / Chapter (III) --- Restructure The CyberWorks Venture (CWV) --- p.53 / Chapter (IV) --- Transform Core Businesses Into Joint Ventures --- p.54 / APPENDIX --- p.55 / BIBLIOGRAPHY --- p.58

published_or_final_version / Economics / Doctoral / Doctor of Philosophy

This research aims to examine the interactions, transformation and implications of the government-business relations of entrepreneurial families in Mainland China, Taiwan, and Hong Kong. The similarities and differences of their operational patterns, strategies and impacts are also investigated. Establishing the political dimension as the foundation for this study enables this research to enrich the understanding of Chinese entrepreneurial families and address the gaps of conventional theories. Three influential entrepreneurial families in the cross strait tri-region—the Rong family in Wuxi, the Koo family in Taiwan and the Fok family in Hong Kong—are examined, with the application of clientelism and corporatism as the theoretical framework for analysis. Traditional Chinese values on business and businessmen are integrated into the theoretical discussion that serves as the basis of critical review of conventional theories and formulation of a new government-business relations theory relevant to the context of Chinese societies. All assumptions leading to such a theory are substantiated through conducting historical reviews and empirical analysis. This research primarily adopts a qualitative approach, using multiple case studies, historical and literature review, document analysis (including opened secret archives), in-depth interviews and field research. The research argues that such relations are rooted in the traditional Chinese cultural values and ideologies. With the support of party-state apparatus, or state apparatus, as well as operational mechanisms at both an individual and organizational level, the party-state-led or government-led government-business relations are established and sustained through various pathways. They also come as an embodiment of political alliance as the individual and organizational frameworks of corporatism interact and modify each other. It is asserted that an underlying mechanism is in constant operation to sustain the relational dynamics, but that such a mechanism cannot be explained in terms of legal considerations. The government-business relations of Chinese entrepreneurial families present cooperation but not opposition, and emphasize mutual dependence, trust and loyalty, which cannot be satisfactorily interpreted with clientelism. Public interests, or at least the coexistence of public and private interests, characterize the collaboration between the two parties in question. This research further reveals that entrepreneurial families undertake more political costs and risks than general family enterprises. This in turn provides proof of both the positive and the negative sides of political capital, which can potentially evoke extreme effects and constitute unstable factors for the development of entrepreneurial families. This understanding deviates from the past discourse which upholds the view that participation in government-business relations brings reasonable expectations about acquiring more interests on the part of entrepreneurial families. A comprehensive analysis of the involved interests and costs, opportunities and crises, as well as contributions and disadvantages confronting entrepreneurial families as a consequence of engaging in such government-business relations?as well as the manifestation of the distinctive operational models underlying such relations?are the important contributions made by this research. / published_or_final_version / Humanities and Social Sciences / Doctoral / Doctor of Philosophy

published_or_final_version / Sociology / Master / Master of Social Sciences

published_or_final_version / Business Administration / Master / Master of Business Administration