by Chan Siu-tack and Suen Wai-sang. / Bibliography: leaves 132-134 / Thesis (M.B.A.)--Chinese University of Hong Kong, 1986

by Leung Sui Wai, Tam Kai Yu Margaret. / Thesis (M.B.A.)--Chinese University of Hong Kong, 1998. / Includes bibliographical references (leaf 73). / ABSTRACT --- p.II / TABLE OF CONTENTS --- p.IV / LIST OF ILLUSTRATIONS --- p.VII / LIST OF TABLES --- p.VIII / PREFACE --- p.XI / Chapter 1. --- INTRODUCTION --- p.1 / Chapter 1.1 --- Objectives --- p.2 / Chapter 2 --- HO USING SUPPLIES IN HONG KONG --- p.4 / Chapter 2.1 --- Public Housing --- p.5 / Chapter 2.1.1 --- Public rental flats --- p.5 / Chapter 2.1.2 --- Owning flats under public housing schemes --- p.8 / Chapter 2.1.3 --- Home Ownership Scheme --- p.9 / Chapter 2.1.4 --- Middle Income Housing --- p.11 / Chapter 2.1.5 --- New Home Starter Loan Scheme --- p.12 / Chapter 2.1.6 --- Sandwich Class Housing Scheme --- p.12 / Chapter 2. 2 --- Private property --- p.14 / Chapter 3. --- PROPERTY IN MAINLAND CHINA --- p.17 / Chapter 3.1 --- Pricing of property in Mainland China --- p.17 / Chapter 3.2 --- Buyers of properties in Mainland China --- p.18 / Chapter 3.3 --- Threat of incomplete commodity housing (lanmeilou) --- p.18 / Chapter 3.4 --- Hong Kong property agents --- p.19 / Chapter 4. --- ENVIRONMENTAL CHANGE WITHIN RESEARCH PERIOD --- p.20 / Chapter 4.1 --- Residential Property Market --- p.20 / Chapter 4.2 --- The Real Estate Chill --- p.20 / Chapter 4.3 --- The SAR Property Policy --- p.21 / Chapter 4.4 --- "Long-teRm Housing Strategy, 1997" --- p.22 / Chapter 4.5 --- Land release --- p.24 / Chapter 4.6 --- loan for First-time Home Buyers and Sandwich-Class Buyers --- p.25 / Chapter 4.7 --- Privatizing Public Housing --- p.26 / Chapter 5. --- METHODOLOGY --- p.29 / Chapter 5.1 --- Surveys --- p.29 / Chapter 5.2 --- Questionnaire Design --- p.29 / Chapter 5.3 --- Selection of Respondents --- p.33 / Chapter 5.4 --- Data Analysis --- p.33 / Chapter 6. --- SURVEY RESULTS AND ANALYSIS --- p.35 / Chapter 6.1 --- Results and Analysis - Section 1 --- p.35 / Chapter 6.2 --- Results and Analysis - Section 2 --- p.37 / Chapter 6.3 --- Results and Analysis - Potential Buyers --- p.42 / Chapter 6.3.1 --- Age --- p.42 / Chapter 6.3.2 --- Marital Status --- p.43 / Chapter 6.3.3 --- Relatives in China --- p.44 / Chapter 6.3.4 --- Currently Living With --- p.45 / Chapter 6.3.5 --- Currently Living In --- p.46 / Chapter 6.3.6 --- Education Level --- p.48 / Chapter 6.3.7 --- Number of Property Currently Owned --- p.50 / Chapter 6.3.8 --- Income --- p.51 / Chapter 6.3.9 --- Summary of Characteristics of Potential Buyers --- p.52 / Chapter 7. --- RECOMMENDATION --- p.54 / Chapter 7.1 --- Product --- p.54 / Chapter 7.2 --- Price --- p.56 / Chapter 7.3 --- Promotion --- p.57 / Chapter 7.3.1 --- Advertising --- p.57 / Chapter 7.3.2 --- Publicity --- p.58 / Chapter 7.3.3 --- Sales promotion --- p.58 / Chapter 7.3.4 --- Personal selling --- p.58 / Chapter 7.4 --- Distribution --- p.59 / Chapter 8. --- CONCLUSION --- p.60 / Chapter 8.1 --- Feasibility of residing in China but working in Hong Kong --- p.60 / Chapter 8.2 --- Demographic profiles of potential buyers --- p.62 / Chapter 8.3 --- Implications of the current situation --- p.62 / Chapter 9. --- LIMITATIONS --- p.64 / APPENDIX --- p.66 / Appendix A The Importance of Each Consideration when Buying Property in Mainland China --- p.66 / Appendix B Copy and results of the survey used in this project --- p.70 / BIBLIOGRAPHY --- p.73

Tsang Hoi Ting Florona. / Thesis (M.Phil.)--Chinese University of Hong Kong, 2004. / Includes bibliographical references (leaves 101-104). / Abstracts in English and Chinese. / Abstracts --- p.i-ii / Acknowledgements --- p.iii-iv / Table of Contents --- p.v-vii / List of Tables --- p.viii-ix / List of Charts --- p.x-xi / List of Figures --- p.xii / Chapter Chapter 1 --- Introduction --- p.1 / Chapter 1.1 --- Background of Present Study --- p.1 / Chapter 1.2 --- Purpose of the Study --- p.3 / Chapter 1.3 --- Organization of the Thesis --- p.4 / Chapter Chapter 2 --- Literature Review --- p.5 / Chapter 2.1 --- Review of Literatures on Benefits of Homeownership --- p.5 / Chapter 2.2 --- Review of Literatures on Tenure Choice --- p.8 / Chapter Chapter 3 --- Hong Kong Housing Market --- p.12 / Chapter 3.1 --- Why Hong Kong? --- p.12 / Chapter 3.2 --- Characteristics of the Hong Kong Housing Market --- p.14 / Chapter 3.3 --- Review of the Hong Kong Public Housing Market --- p.19 / Chapter 3.3.1 --- Development of the Hong Kong Public Housing Market --- p.20 / Chapter i --- The Period 1954-64 --- p.20 / Chapter ii --- The Period 1965-73 --- p.22 / Chapter iii --- The Period 1973-83 --- p.24 / Chapter iv --- The Period 1984-2004 --- p.25 / Chapter 3.4 --- Review of the Hong Kong Private Housing Market --- p.29 / Chapter 3.5 --- Price and Rent of Private Domestic Units --- p.30 / Chapter 3.6 --- Renting versus Owning --- p.33 / Chapter 3.7 --- Improvement in the Living Conditions of the Population --- p.35 / Chapter Chapter 4 --- Data Description --- p.37 / Chapter 4.1 --- Population Census Data Sets --- p.37 / Chapter 4.2 --- Sample Selection --- p.39 / Chapter Chapter 5 --- Methodology ´ؤ the Tenure Choice Model --- p.41 / Chapter 5.1 --- Tenure Choice Function --- p.43 / Chapter 5.2 --- Multinomial Logit Model --- p.46 / Chapter 5.3 --- Explanatory Variables --- p.48 / Chapter 5.4 --- Summary of Descriptive Statistics --- p.58 / Chapter Chapter 6 --- Empirical Results --- p.65 / Chapter 6.1 --- People who Seek for Government Housing Assistance ´ؤ Subsidized Ownership and Subsidized Rental --- p.67 / Chapter 6.2 --- People who Favour the Private Housing Market --- p.72 / Chapter 6.3 --- Tenure Choice in Both Public and Private Housing Market --- p.76 / Chapter 6.3.1 --- Similarities of Tenure Choice of Both Housing Markets --- p.77 / Chapter i --- Who Favours Owning? --- p.77 / Chapter ii --- Who Favours Renting? --- p.80 / Chapter 6.3.2 --- Unique Features in Each Housing Market --- p.82 / Chapter i --- The Public Housing Market --- p.82 / Chapter ii --- The Public Housing Market --- p.83 / Chapter 6.4 --- Relationship of Residence and Work Place and Internal Migration --- p.88 / Chapter 6.5 --- Tenure Choices of Movers and Non-Movers --- p.95 / Chapter Chapter 7 --- Limitations of This Study --- p.97 / Chapter Chatper 8 --- Conclusion --- p.99 / References --- p.101 / Chapter Appendix 1 --- Comparison of Previous Literatures --- p.105 / Chapter Appendix 2 --- Abbreviations --- p.109 / Chapter Appendix 3 --- Description of Variables --- p.110 / Chapter i --- Explanatory Variables --- p.110 / Chapter ii --- Control Groups --- p.113 / Chapter iii --- Notes --- p.114 / Chapter Appendix 4 --- Additional Notes of Public Housings --- p.119 / Chapter Note 1 --- Eligibility Criteria Set by Hong Kong Housing Authority(HKHA) --- p.121 / Chapter Note 2 --- Eligibility Criteria Set by Hong Kong Housing Society (HKHS).… --- p.123 / Chapter Appendix 5 --- Tables --- p.125 / Chapter Appendix 6 --- Charts --- p.150 / Chapter Appendix 7 --- Figures --- p.165 / Chapter Appendix 8 --- Commands of Computer Programs (STATA) --- p.171

2005年10月，中國政府發布“國務院批轉證監會關於提高上市公司品質意見的通知“。它允許和建議上市公司探索利用股權補償，以激勵員工。由於中國股市和股權補償的歷史很短，以及對企業的激勵機制的重要性。我們研究和發現公司治理和採納該計劃的可能性之間的關係是混合的。而具有較高的營業利潤/資產比率和淨利潤/總資產比率的公司更可能採用股權補償。我們還發現，通過在企業層面測量累積異常收益率（CAR），股權補償的公佈有積極的市場反應。此外，如果最大的部分限制性股份或購股權授予僱員工會委員或在公司的核心員工，市場反應更是積極。 / In October 2005, the Chinese government released "Notice about the State Council of China approving China Securities Regulatory Commission to improve qualities of listed firms". It allows and suggests listed firms to explore the use of equity-based compensation in order to motivate employees. In this thesis, we find that the relationship between corporate governance and the likelihood of adopting the scheme is mixed. Firms with higher ratios of operating profits to assets and net profit to total assets are more likely to adopt equity-based compensation. We also discover positive market responses by measuring the cumulative abnormal return (CAR) to the announcement of equity-based compensation at the firm level. Moreover, if a larger portion of the restricted shares or options is granted to the groups of employees which are union committee members or core employees in the firm, the market response is much more positive and the CAR is larger in magnitude. / Detailed summary in vernacular field only. / Ko, Ka Yin. / Thesis (M.Phil.)--Chinese University of Hong Kong, 2013. / Includes bibliographical references (leaves 32-33). / Electronic reproduction. Hong Kong : Chinese University of Hong Kong, [2012] System requirements: Adobe Acrobat Reader. Available via World Wide Web. / Abstracts also in Chinese. / Cover Page --- p.1 / Abstract --- p.2 / Chinese Version --- p.3 / Contents --- p.4 / Chapter 1 --- Introduction --- p.6 / Chapter 2 --- Basic idea of equity-based compensation --- p.7 / Chapter 3 --- Literature Review --- p.9 / Chapter 4 --- History and Development --- p.11 / Chapter 4.1. --- Equity-based compensation around the world --- p.11 / Chapter 4.2. --- Regulations of equity-based compensation in China --- p.12 / Chapter 5 --- Hypothesis --- p.13 / Chapter 6 --- Methodology --- p.16 / Chapter 6.1. --- Equity-based compensation in the company --- p.16 / Chapter 6.2. --- Ownership concentration and characteristics --- p.16 / Chapter 6.3. --- Legal framework --- p.17 / Chapter 6.4. --- Ownership Nature --- p.17 / Chapter 6.5. --- Board of directors’ characteristics --- p.17 / Chapter 6.6. --- Operating performance --- p.18 / Chapter 6.7. --- Industry sectors --- p.18 / Chapter 6.8. --- Equity-based compensation scheme characteristics --- p.19 / Chapter 6.9. --- Logistic model --- p.19 / Chapter 6.10. --- Event study approach --- p.21 / Chapter 7 --- Data --- p.24 / Chapter 7.1. --- Sources of Data --- p.24 / Chapter 7.2. --- Equity-based compensation and firm characteristics --- p.24 / Chapter 8 --- Empirical Results --- p.25 / Chapter 8.1. --- Factors that drive companies to implement equity-based compensation . --- p.26 / Chapter 8.1.1. --- Univariate test --- p.26 / Chapter 8.1.2. --- Logistic model --- p.26 / Chapter 8.2. --- Short-term market response --- p.27 / Chapter 8.2.1. --- Event study --- p.27 / Chapter 8.2.2. --- Univariate test --- p.28 / Chapter 8.2.3. --- Multivate OLS regressions --- p.29 / Chapter 9 --- Conclusions --- p.30 / References --- p.31 / Chapter Table 1 --- Number of equity-based compensation schemes announced by each firm in the sample period --- p.33 / Chapter Table 2 --- By year, number of firms with equity-based compensation schemes announcement in restricted share and option --- p.33 / Chapter Table 3 --- Sector distribution for equity-based compensation announced firms --- p.33 / Chapter Table 4 --- Share of restricted share or option in the equity-based compensation scheme by each group --- p.34 / Chapter Table 5 --- Descriptive statistics for firm characteristics --- p.35 / Chapter Table 6 --- Univariate test --- p.37 / Chapter Table 7 --- Logistic Model --- p.38 / Chapter Table 8 --- Cumulative abnormal returns for an event study of implementation of equity-based compensation announcements --- p.40 / Chapter Table 9 --- Abnormal returns for an event study of implementation of equity-based compensation announcements --- p.40 / Chapter Table 10 --- Descriptive statistics for firm characteristics and mean comparison of CAR between below median/ "0" group and above median/ " 1" group using t-test --- p.41 / Chapter Table 11 --- OLS regression --- p.43

Yuen, San Wing. / Thesis (M.Phil.)--Chinese University of Hong Kong, 2010. / Includes bibliographical references (leaves 58-61). / Abstracts in English and Chinese. / Chapter 1 --- Introduction --- p.1 / Chapter 2 --- Literature review and hypothesis development --- p.5 / Chapter 2.1 --- Going private --- p.5 / Chapter 2.2 --- Tunneling and the expropriation of minority shareholders --- p.9 / Chapter 2.3 --- Our hypotheses --- p.12 / Chapter 3 --- Samples --- p.15 / Chapter 3.1 --- Sample construction --- p.15 / Chapter 3.2 --- Sample description --- p.16 / Chapter 3.3 --- Corporate governance and financial variables --- p.18 / Chapter 3.4 --- Related party transactions --- p.21 / Chapter 4 --- Empirical analysis --- p.23 / Chapter 4.1 --- Event study results --- p.23 / Chapter 4.2 --- Negative premium --- p.34 / Chapter 4.3 --- Insider trading --- p.37 / Chapter 4.4 --- The decision to go private --- p.39 / Chapter 4.4.1 --- Sample matching --- p.39 / Chapter 4.4.2 --- Comparison between going private companies and public companies --- p.41 / Chapter 4.5 --- Logit regression analysis on going private decision --- p.43 / Chapter 4.6 --- The value effect of the bidding firms --- p.46 / Chapter 5 --- Conclusion --- p.49 / Chapter A --- Privatized companies included in the sample with announcement dates --- p.51 / Chapter B --- Methodology of event study --- p.53 / Chapter C --- Bidder companies --- p.55 / Chapter D --- A list of definition of variables --- p.56 / Reference --- p.58

Wang, Zhuojun. / Thesis (M.Phil.)--Chinese University of Hong Kong, 2009. / Includes bibliographical references (leaves 46-47). / Abstract also in Chinese.

There are two competing theoretical debates about the impact of ownership concentration on organisational outcomes, namely efficient-monitoring hypothesis and conflict-of-interest (strategic-alignment) hypothesis. New Zealand has a distinctively concentrated ownership structure. This raises an important research question: Does concentrated ownership in New Zealand perform an efficient monitoring or opportunistic function? This question remains unanswered due to the very limited research on ownership structure in New Zealand. This research considers three specific where studying the function of ownership concentration is likely to be insightful. Three contexts are: CEO compensation scheme, corporate voluntary disclosures and investor perception of ownership structure in the stock market. This research further contributes to the existing literature by decomposing ownership into four mutually exclusive groups, namely financial institution-, government-, management- and other company-controlled ownership structures. The different impacts of ownership concentration under each type of controlling ownership structure are investigated. The findings of Essay One reveal that concentrated ownership is a significant contributor to the poor CEO compensation pay-for-performance relationship in New Zealand listed companies. However, reduced ownership concentration promotes the alignment between CEO compensation and firm performance. These results imply that large shareholders in New Zealand do not play a monitoring role in curbing managerial power; rather it exacerbates the poor relationship between CEO compensation and firm performance. In Essay Two, regression results show that companies characterised by financial institution-controlled ownership structure tend to make significantly fewer (more) disclosures at high (low) concentration levels. In contrast, firm observations in the high concentration group with government- and management-controlled ownership structures have considerably higher voluntary disclosure scores compared with their low concentration counterparts. With respect to the linearity assumption, the relationship between ownership concentration and voluntary disclosure practices unveil a non-linear pattern, indicating that the efficiency of large shareholders’ monitoring varies with the level of intensity of ownership concentration. The results of Essay Three demonstrate that ownership concentration in general is positively associated with information asymmetry observed around annual report release date. This is supportive of investor-adverse selection towards ownership concentration, and such an adverse selection problem is strongly associated with financial institutional and managerial shareholdings. Also, ownership concentration decreases stock liquidity, so no result is found in line with the ownership concentration liquidity hypothesis. When voluntary disclosure is taken into account, regression results suggest that disclosure significantly attenuates information asymmetry risk related to ownership concentration. This effect is particularly pronounced for firms with management-controlled ownership structure. Findings highlight the importance of corporate disclosures under concentrated ownership structure in eliminating information asymmetry and enhancing market efficiency in New Zealand.

University of Macau / Faculty of Social Sciences and Humanities / Department of Government and Public Administration

Thesis (doctoral)--Universität zu Köln, 2001.

published_or_final_version / Housing Management / Master / Master of Housing Management