雖著國內生產成本提高，1980年代起許多臺商製造業者紛紛前往中國投資設廠。然而製造業設廠必須使用土地，且由於土地的特性，使得業者在前往中國投資時，必須在當地取得土地，方能建廠進行生產。然而在中國的土地公有制度下，將可能使業者於經營過程中遭遇土地方面的問題。 製造業在跨界投資設廠時，往往在當地長時間經營，而早期當中國相關制度尚在建立時便進入投資的臺商，在中國的土地公有制度下，將可能在經營過程中遭遇土地方面的問題。製造業取得土地設廠後，其生產活動大多為長時間的經營，加上土地的不可移動性與建物定著性，因此投入生產後縱使遭逢變化，也未必能夠立刻遷往他處；此狀況在臺商以中小企業為主、彼此協做生產的產業型態下，可能更為明顯。根據相關研究，臺商在中國遭遇的糾紛中，土地問題占大多數，可見此一環節對製造業者的重要性。 本研究主要利用訪談的方式，試圖以廠商的角度來探討土地制度變遷所造成的影響，並釐清與歸納出臺商在中國投資環境與政策變化快速的情況下，「土地」對製造業者所帶來的問題與因應方式。 訪談對象以廣東東莞的臺商業者為主，包含大型製造業集團與中小企業的負責人或財務資產管理部門主管。由於東莞是臺商最早前往投資的重要聚集地，且當地以集體土地為主的產權型態，經過二十多年的發展，各鄉鎮集體已形成很強的自主性，制度變化的過程中牽動著與既有、環繞著集體產權體制的相關利益，以及國家機器與集體組織間的角力關係。面對這樣複雜的土地制度環境，東莞卻仍聚集大量的臺商，值得深入探究其因。 本研究歸納訪談結果後，認為在臺商前往中國投資過程中，特別是對東莞地區的製造業者而言，中國特殊的土地產權制度、以及快速變化的規範，皆是影響經營發展與策略的重要因素。本研究認為，由於中國的土地制度可說是具備「國有化」與「開發許可制」的特色，政府幾乎控制了土地產權與發展權的釋出管道，因此取得土地權證與否，將會是投資的重要考量。同時也因為土地不可移動與建物定著的特性，一旦取得土地使用上的保障、興建廠房後，業者在面對土地或其他經營上的問題時，可能傾向以更積極的態度克服。在中國注重「政商關係」的環境下，業者更往往透過協會組織的幫助，大型集團甚至可憑一幾之力，與政府進行溝通協商以保障在當地的產業發展。 / In 1980’s, the rise of production costs prompted Taiwanese enterprises to move to China, most of them are manufacture. The investment of manufacturing firms have to use land to build factories, and they can only acquire land at local, rather than bring it from Taiwan. However, because of land right institution in China was not set up completely when the “open door policy” began, foreign manufacturers could face some problems related to land under public ownership in years that followed. Especially for Taiwanese manufacturing investment, that are mostly small- or medium-sized independent manufacturing firms and cooperate with other firms, to form a production chain. In this research, we discuss the influences of transition of land right institution from manufactures’ view, through the interviews with a number of Taiwanese manufacturing firms in China. Most of the interviewees were Taiwanese manufacturing firms in Dongguan, Guangdong. It is a city that Taiwanese firms tended to cluster in the early years. With development for over 20 years, each township in Dongguan enjoys a high degree of autonomy on leading the direction of development. However, most of land in Dongguan are collective-owned, and a lot of profit would be involved during the transition of land right institution or ownership. Even so, there are still plenty of Taiwanese firms investing in Dongguan up to the present day. We conclude that the special land ownership institution in China and swiftly transformed environment are responsible for the changing operation strategies. Both characters of “state-owned” and “planning permission” are embedded in Chinese land institution, and the rights of ownership and development are tightly controlled and can only be granted by government. In consequence, land use right has become an important concern over investment. Moreover, a firm already granted with land use right tends to be much active, or seek help from “Taiwanese business association”, to solve the problems it has faced during operation.

Topic:When an MNC seeks to enter a foreign country, it must choose the most appropriate entry mode for that specific market, such as exporting, licensing, a turnkey project, franchising, joint ventures or wholly-owned subsidiaries. There are many factors which affect the choice of entry modes. Influential factors contributing to the entry mode decision can have different degrees of impact for each particular country. As a consequence, an MNC has to use different entry modes in order to adapt to the specific situations it faces in its international expansion strategy. Research Problem: Our research problem is to find the answer to two specific research questions while investigating in a particular MNC: Starbucks. The relevant questions are: (1.) What factors affected Starbucks’ entry mode decisions? (2.) Which entry mode strategies did Starbucks use foreign markets and why? Method: We collected data through a qualitative method. We regarded that a qualitative research method would provide us the necessary data to understand entry mode decisions. We collected data through literature, books, journals, and Internet resources. We have decided to focus our qualitative research on exploring Starbucks’ entry mode decision in some specific markets. In particular, we have concentrated on Spain, New Zealand and the United Kingdom. Conclusions: The choice of entry mode is a critical decision made by MNCs. The choice is influenced by several factors; we have divided these into internal and external factors. We have found both groups are important in the decisions made by Starbucks. However, the degree of influence is different in each case. Moreover, it is possible that some influential factors in the choice of entry mode can differ by case. Finally, we have found external factors have been critical in affecting Starbucks’ choice of entry modes. Starbucks has sought to adapt to those external factors and local needs and requirements by using different entry modes.

Traditionally, funeral homes have been family-owned small businesses which pride themselves on their personal, caring service. Many are located in historic houses worthy of preservation. In the past few decades, however, many family-owned funeral homes have been bought out by large, national corporations in search of big profits. The future of oldhouse funeral homes is uncertain. An inventory of funeral homes was conducted in a ninecounty area of east-central Indiana, including Blackford, Delaware, Grant, Hancock, Henry, Jay, Madison, Randolph, and Wayne Counties. Findings show that a majority (59%) of the funeral homes in the nine-county area of east-central Indiana inventoried are located in former residences built before 1950, with varying degree of modification. While some have had minimal or moderate alterations, a large percentage (54%) of these have been extensively altered over the years. Case studies of four pre-1950 funeral homes in the inventory area revealed that alterations, many of which reflect the needs of the funeral business, have affected not only their integrity but also their ratings in the Indiana Historic Sites and Structures Inventory. Recommendations include greater communication between the funeral industry and preservationists, and the establishment of guidelines for sensitive additions that are addressed specifically to the needs of the funeral industry. / Department of Architecture

本研究將中國的上市企業區分為國有企業與民營企業，藉以檢視中國證監會對上市企業的行政處罰是否存有選擇性執法的現象。調查結果顯示，國有企業較不容易因其關聯方交易之揭露不實而遭受證監會的行政處罰。這個結果代表證監會對民營企業之行政處罰有較低的重大性門檻。且進一步的調查發現，國有企業因關聯方交易揭露不實所面臨的處罰金額不一定高於民營企業因關聯方交易揭露不實所面臨的處罰金額。因此，本研究結果支持中國證監會的行政處罰存在選擇性執法的可能性。 / This study examines the relationship between the enforcement actions on misrepresentation of related party transactions by the China Securities Regulatory Commission (CSRC) and the state-owned enterprises. In order to test empirical evidence of selective enforcement, we divided our samples into state-owned enterprises and the private enterprises. The major findings are as follows:(1)the state-owned enterprises are not prone to be punished for misrepresentation of related party transactions by CSRC. (2) the state-owned enterprises fines on misrepresentation of related party transactions are not higher than the private enterprises. The analysis and conclusions of this study prove the consequences of selective enforcement by CSRC.

This thesis critically assesses the design and operation of the corporate legal adviser (“CLA”) system for state-owned enterprises (“SOEs”) in the People’s Republic of China (“PRC”). / The study of in-house legal advisers (commonly known as corporate counsel) in Western jurisdictions has developed as its own subfield of studies of the legal profession. That literature shows that the roles that in-house legal advisers in Western corporations should and can play is heavily influenced by their corporate environments, corporate policies and attitudes of the corporate leaders with whom they work. There are a range of complex organizational and ethical issues faced by Western corporate counsel in discharging the functions of effective gatekeepers, advisers and preventive law practitioners. However, as compared with the abundant published works on corporate counsel in the era of post-Enron corporate America, there is little academic literature on in-house legal advisers in China. / In the face of the challenges and risks caused by the intensifying economic reforms in the PRC since the early 1990s, and China’s entry into the WTO in 2001, the PRC Government has been attempting to strengthen measures to preserve and protect those state assets that are managed and operated through SOEs. The supervisory body for SOEs is the powerful and well-known State-owned Assets Supervision and Administration Commission (“SASAC”) which is directly under the control of the State Council. / SASAC has perceived that corporate counsel in Western corporations have been playing a critical role in corporate risk management and decision-making, and have been accorded a high status within their organizations. Therefore one of the measures implemented by SASAC under its risk management framework for SOEs is the CLA system. The CLA system requires SOEs to engage licensed CLAs as part of the corporate governance and risk management system. Pursuant to the Administrative Measures for State-owned Enterprise Corporate Legal Advisers (2004) (the SASAC document governing the system), the role, rights and obligations of CLAs are set out. The policy objective is to ensure that SOEs are managed and operated in compliance with law and with proper legal advice. / SASAC leaders have claimed that the CLA system in SOEs has made great achievements in improving the risk management performance of SOEs. However, this thesis finds that SASAC has not properly addressed the ethical and role dilemmas commonly faced by Western corporate counsel. On the basis of the Western literature on corporate counsel and analysis of SASAC’s policies and the practice of SOEs, this thesis identifies the following key concerns with the CLA system of SOEs: the status and independence of CLAs, the qualification system for CLAs, the legal and professional regulation of CLAs, and the management structure and corporate culture of SOEs where CLAs work. Finally, the inherent problems caused by the power structure in SOEs, especially the role of senior cadres of the ruling Chinese Communist Party in SOEs, has not been resolved. / This thesis concludes that CLAs as corporate watchdogs in SOEs are still at the developmental stage. More empirical research of CLAs of SOEs is warranted to better understand how China, as an emerging world economic power, is to play on the international stage.

This thesis critically assesses the design and operation of the corporate legal adviser (“CLA”) system for state-owned enterprises (“SOEs”) in the People’s Republic of China (“PRC”). / The study of in-house legal advisers (commonly known as corporate counsel) in Western jurisdictions has developed as its own subfield of studies of the legal profession. That literature shows that the roles that in-house legal advisers in Western corporations should and can play is heavily influenced by their corporate environments, corporate policies and attitudes of the corporate leaders with whom they work. There are a range of complex organizational and ethical issues faced by Western corporate counsel in discharging the functions of effective gatekeepers, advisers and preventive law practitioners. However, as compared with the abundant published works on corporate counsel in the era of post-Enron corporate America, there is little academic literature on in-house legal advisers in China. / In the face of the challenges and risks caused by the intensifying economic reforms in the PRC since the early 1990s, and China’s entry into the WTO in 2001, the PRC Government has been attempting to strengthen measures to preserve and protect those state assets that are managed and operated through SOEs. The supervisory body for SOEs is the powerful and well-known State-owned Assets Supervision and Administration Commission (“SASAC”) which is directly under the control of the State Council. / SASAC has perceived that corporate counsel in Western corporations have been playing a critical role in corporate risk management and decision-making, and have been accorded a high status within their organizations. Therefore one of the measures implemented by SASAC under its risk management framework for SOEs is the CLA system. The CLA system requires SOEs to engage licensed CLAs as part of the corporate governance and risk management system. Pursuant to the Administrative Measures for State-owned Enterprise Corporate Legal Advisers (2004) (the SASAC document governing the system), the role, rights and obligations of CLAs are set out. The policy objective is to ensure that SOEs are managed and operated in compliance with law and with proper legal advice. / SASAC leaders have claimed that the CLA system in SOEs has made great achievements in improving the risk management performance of SOEs. However, this thesis finds that SASAC has not properly addressed the ethical and role dilemmas commonly faced by Western corporate counsel. On the basis of the Western literature on corporate counsel and analysis of SASAC’s policies and the practice of SOEs, this thesis identifies the following key concerns with the CLA system of SOEs: the status and independence of CLAs, the qualification system for CLAs, the legal and professional regulation of CLAs, and the management structure and corporate culture of SOEs where CLAs work. Finally, the inherent problems caused by the power structure in SOEs, especially the role of senior cadres of the ruling Chinese Communist Party in SOEs, has not been resolved. / This thesis concludes that CLAs as corporate watchdogs in SOEs are still at the developmental stage. More empirical research of CLAs of SOEs is warranted to better understand how China, as an emerging world economic power, is to play on the international stage.

Thesis (Ph.D.)--Mississippi State University. Department of Management and Information Systems. / Title from title screen. Includes bibliographical references.

本篇論文的主要目的是檢測會計師是否會影響其客戶投資效率。本研究以2007至2016年間的中國上市公司為樣本，實證結果顯示:（1）事務所層級的產業專家對客戶投資效率有積極影響。（2）會計師個人、事務所皆為產業專家時相對於非產業專家可以提高其客戶的投資效率且其對客戶的投資效率的影響大於單一產業專家。（3）會計師個人、事務所皆為產業專家時，對於國有企業投資效率的影響小於非國有企業。綜上會計師在提高客戶的投資效率方面起著至關重要的作用。 / The objective of this thesis is to examine whether the auditors affect the investment efficiency of its client. Using a sample of Chinese listed firms during 2007~2016, I find that: (1) Audit-firm-level industry expert is positively associated with its clients’ investment efficiency. (2) Industry expert at both firm and partner levels has stronger effect on investment efficiency than industry expert, either at firm-level alone, or at partner level alone. (3) When auditors are industry expert at both firm and partner levels, the effect of industry expertise on investment efficiency is more pronounced for non-state-owned enterprises than state-owned enterprises. In sum, auditors play a critical role in enhancing firm’s investment efficient.

本文探討分析師追蹤行為及分析師特性對其客戶投資效率的影響，並進一步研究分析師對國有與非國有企業的不同影響。本文以2007-2016年中國滬深證交所上市公司為樣本。實證結果發現，分析師追蹤及有較多的分析師追蹤，明星分析師追蹤及有較多的明星分析師追蹤，分析師預測公司數量較多都能提高其追蹤的上市公司的投資效率。本文進一步研究發現，分析師預測公司家數越多，其追蹤的國有企業的投資效率要高於非國有企業；並且，在分析師追蹤下，地方企業的投資效率要高於中央企業。然而，並沒有顯著證據能夠證明在分析師的追蹤下，非國有企業的投資效率高於國有企業。總結上述，分析師在資訊傳遞方面扮演著重要的角色，有助於降低企業資訊不對稱，從而對企業投資效率產生正面的影響。 / The objective of this thesis is to examine the association between forecasts behaviors and the covered firms’ investment efficiency. Using a sample of Chinese listed firms from 2007 to 2016, the empirical results can be summarized as follows. The presence of analyst following improves the investment efficiency of listed companies; the effect increases with the number of analysts following. Second, my results are stronger for firms with star analysts following than those without such analysts; more star following leads to greater improvement in investment efficiency. Thirdly, the effect of the number of analysts is more pronounced for stated-owned enterprise (SOE) than non-stated-owned enterprise (non-SOE). Further analyses indicate that for SOE, the presence of analysts following on investment efficiency is stronger for local SOE than for central SOE.

Magister Artium (Development Studies) - MA (DVS) / The South African government has earmarked infrastructure development as a key driver of the economy. The infrastructure sectors of energy, water and transport have received large Development Bank of Southern Africa (DBSA) loans to fund new projects, repairs and maintenance. The DBSA loan approvals to municipalities for the period 2012-2013 was R2.3 billion. Loans to 'under-resourced' municipalities totalled R927 million for the same period. Key infrastructure sectors included electricity (R466 million), roads and drainage (R678 million), community facilities (R735 million) and water and sanitation (R1.2 billion). The DBSA is owned by the South African state and its relationship with municipalities is legislated and regulated through the Constitution and an Act of Parliament. One of the post-apartheid roles of the DBSA is to support the infrastructure development agenda of the State through a complexed network of infrastructure projects in the key infrastructure sectors of water and sanitation, education, housing, health and housing. It does so through project, technical and development finance support to municipalities. The underlying rationale for the relationship between municipalities and the DBSA is to forward the States' agenda of providing equal access to basic services and develop infrastructure to support its social and economic development agenda. While the DBSA does provide infrastructure grants and facilitates intergovernmental transfers to municipalities, it also provides infrastructure loans to municipalities for both capital expenditure and large-scale infrastructure projects. The premise of development banks is to provide development finance for infrastructure projects at low interest. The DBSA specifically as a state-owned bank has an overall agenda to develop the infrastructure of poorer municipalities whose credit-worthiness will not allow it to qualify for commercial loans.