IPO effects: corporate restructuring when a firm goes public

The public affairs of a firm issuing an initial public offering (IPO) are a critical part of the corporate restructuring efforts which firms face during the process of going public. In this paper, Bowman and Singh's (1993) definition is used to illustrate how issuing an IPO is a significant form of corporate restructuring. Public affairs are critical during both the pre‐IPO phase and during the period leading up to the IPO, as the firm must negotiate a heavily institutionalised process to successfully complete the issue. Here, the six‐year life of ‘Deja News’ is used as a way to illustrate and explain the public affairs during the process of preparing for and issuing an IPO. Copyright © 2004 Henry Stewart Publications     

中共八大对社会主义体制改革的探索

中共八大从政治体制和经济体制两方面对我国社会主义体制改革进行了探索,文章认为这些有益的探索初步指明了社会主义体制改革的方向,是中国共产党探索中国特色社会主义建设道路的伟大起点。     

People and places left behind: work,culture and politics in the rural United States

Using interview and survey data, we argue there are three types of places in the rural United States, and that their social and economic conditions help us understand emerging political trends, including the rural support for Donald Trump. More rural votes were cast for the Republican presidential candidate in 2016 than in other recent elections, yet shifts to Republican votes were greatest in places undergoing the most significant economic transitions. Work in rural communities has been a source of pride and cultural identity for people as well as places, but many feel the new economy is not working for them.     

资源和环境约束下我国产业结构的调整方向

我国现行的经济发展模式日益受到资源和环境的严重制约。要保持经济持续、稳定、健康发展，必须大力推进产业结构的优化和升级，其主要方向是：走新型工业化道路，发展循环经济；加快服务业发展，提高服务业的比重和水平；提高自主创新能力；发展现代农业等。     

政府职能转变的阻力分析

我国改革开放以来如进行的五轮行政体制改革就有四轮把转变政府职能作为核心和重点。但是，职能转变收效甚微。是市场经济主体的不成熟、社会组织发育迟缓、行政体制改革内动力不足阻碍了政府职能的转变，是社会转型期政府的二难处境导致职能转变受阻。我们必须根据我国所处的特殊转型阶段和市场的特定要求，决定“放松管制”的幅度、力度、和方式，同时要高度重视对市场秩序的监管以及对“监管者”权力的监督。唯此，才能保证我国经济和社会转型时期政府职能转变的平稳、有序和有效。     

The influence of bankruptcy law on equity value of financially distressed firms: A European comparative analysis

The reaction of stock prices to bankruptcy filing has been frequently analysed in the financial literature. In this paper we adopt a different approach to that of traditional study, and endeavour to determine whether the reaction of markets is conditioned by the orientation of bankruptcy law. Our results lead us to conclude that it is actually the type of bankruptcy law that conditions the valuation of firm's stocks. We have also found that the drop in share value is greater in creditor-oriented systems, while the negative returns are lower in debtor-oriented systems.     

菲律宾华人企业集团的重组与调整

东南亚金融危机爆发之后,菲律宾华人企业集团为摆脱金融危机的打击和影响,加快了经营结构调整和资本重组的步伐。不少华人企业集团经受住了这场金融风暴的洗礼,也从中吸取了深刻的经验教训。     

中国经济转型与民族地区经济发展

转型经济学不只是指出转型的方向,更要分析转型的成本,寻求最低成本最小摩擦的转型,即在发展、和谐、合作中实现转型.中国正处于一个从计划经济到市场经济、初级市场经济到现代市场经济的转型关键期;目前改革领域正深入到政治、文化、教育等领域;改革的阻力进一步增强.中国少数民族地区经济发展及经济转型有其特殊性和复杂性.应该加强对宗教信仰的管理和引导,大力选拔和培养民族干部,大力发展非国有经济.     

东盟经济增长的波动及其趋势

近年来,东盟国家经济增长出现了急剧的波动。究其原因,主要是在经济全球化下受到主要发达国家经济周期波动的冲击和金融危机后国内经济转型与结构调整的影响。从东盟经济增长趋势看,各国经济增长速度将放缓而波动有所加大。     

关于农村经济结构调整的一种解说

调整农村经济结构一直是国家农村经济发展政策的重要内容。但农村经济结构调整仍存在重大障碍。只有实行宏观规划,采取综合性措施,才能逐步达到农村经济结构合理化目标。