370,254 research outputs found

    Regional monopoly and interregional and intraregional competition: the parallel trade in Coca-Cola between Shanghai and Hangzhou in China

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    This article uses a “principal-agent-subagent” analytical framework and data that were collected from field surveys in China to (1) investigate the nature and causes of the parallel trade in Coca-Cola between Shanghai and Hangzhou and (2) assess the geographic and theoretical implications for the regional monopolies that have been artificially created by Coca-Cola in China. The parallel trade in Coca-Cola is sustained by its intraregional rivalry with Pepsi-Cola in Shanghai, where Coca-Cola (China) (the principal) seeks to maximize its share of the Shanghai soft-drinks market. This goal effectively supersedes the market-division strategy of Coca-Cola (China), since the gap in wholesale prices between the Shanghai and Hangzhou markets is higher than the transaction costs of engaging in parallel trade. The exclusive distributor of Coca-Cola in the Shanghai market (the subagent) makes opportunistic use of a situation in which it does not have to bear the financial consequences of the major residual claimants (the principal and other agents) and has an incentive to enter the nondesignated Coca-Cola market of Hangzhou by crossing the geographic boundary between the two regional monopolies devised by Coca-Cola. The existence of parallel trade in Coca-Cola promotes interregional competition between the Shanghai and Hangzhou bottlers (the agents). This article enhances an understanding of the economic geography of spatial equilibrium, disequilibrium, and quasi-equilibrium of a transnational corporation's distribution system and its artificially created market boundary in China

    Is There a Term Structure? Empirical Evidence from Shanghai Office Rental Market

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    This paper mainly conducts an empirical study of the term structure of the Shanghai office rental market. Based on 555 executed contracts in the Shanghai office rental market from 2005 to 2008, the building quality and micro location are controlled, which are generally omitted in previous studies, through ranking of buildings and dividing the sample into 11 small central business districts (CBDs). The empirical results show that there is a downward term structure in the Shanghai market, but it is not very consistent during the studied years.Term structure; Lease, Shanghai; Office rental

    SHANGHAI – FROM DEVELOPMENT TO KNOWLEDGE CITY

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    This report provides insights on the expansive development in Shanghai of human resources in higher education and the creation of a huge web of incubators, university science parks, district industrial parks, and various specialized development zones. With a total population of some 17 million and a GDP per capita of around US$3,000 the city planners expects that 2.5 per cent of its GDP will in 2005 be used for research and development. FDI in high technology and returning scientists in microelectronics illustrate the ambitions of Shanghai to become a knowledge city. More than 140 foreign-controlled R&D laboratories have already been established in Shanghai. Their number and sizes will increase and also involve more basic research as the IPR regime improves. Shanghai will emerge as innovative knowledge region on the world stage that before 2020 will be competing with other global knowledge regions such as the Oxford-London-Cambridge triangle by attracting talent and creating new knowledge. This report highlights a rapid and continued expansion of higher education in Shanghai that now has 59 colleges and universities with a total enrolment in 2004 of 600,000 students. The City has 10 universities which are included in the national list of Top-100 Universities which have been selected by the Ministry of Education to receive special treatment and extra resources. Three of a dozen Chinese universities with expectation to become recognized as world-famous research universities are located in Shanghai – Fudan University, Tongji University and Shanghai Jiaotong University. Fudan University Science Park and the School of Microelectronics at Fudan University provide examples of the changing character of the university system in Shanghai Linked to the development of human resources is a web of technological infrastructure of which Zhangjiang High-Technology Development Zone provides an illustration of ongoing efforts to integrate industrial production, research and university education. Shanghai is attracting overseas entrepreneurs in its advancing semiconductor industry, exemplified by SMIC with one of its bases in Zhangjiang High-Technology Development Zone, Shanghai is also attracting returning scientists to expand its IC knowledge base as exemplified by the School of Microelectronics at Fudan University, which has 600 graduate students.Human factors; Universities; Fudan University; Regional innovation System (RIS) Semiconductors; High Technology Parks; Overview of Science and Technology

    An econometric analysis of Shanghai office rents

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    The modern commercial office market in Shanghai emerged with China’s economic reform and open door policy in the 1980s and grew rapidly at the beginning of 1990s,with increasing demand for office space from foreign and domestic occupiers. Though total real estate investment is skewed towards residential property, office investment has grown by 23% per annual in terms of value and by 24% per annum in terms of completed floor space from 1995 to 2007. The Shanghai office market is of importance for a number of reasons. First, it is one of the largest office markets in China in terms of square footage and in investment terms. Second, the office market is one of most established ones in China and attracts most attention from policy makers, investors, practitioners and academia. However, so far there is little empirical research on the Shanghai office market. This paper will use econometric modelling techniques to investigate office rent determination of the CBD in the central Puxi area, Shanghai, over the period 1991 –2007. Using a reduced form modelling specification in an error correction framework based on demand and supply interactions, GDP and office stock are found to significantly affect office rental performance in the Shanghai market in the long run. The model also shows that the office market adjusts to equilibrium. This model is then extended to test the impact of foreign direct investment, real interest rates, and vacancy rates on rental determination

    China Employment Law Update - August 2016

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    In This Issue New Measures Increase Company Responsibility for Labor Unrest New Salary Payment Regulations in Shanghai Employers Face Liability for Unpaid High-Temperature Subsidies Occupational Disease Approval Procedures Cancelled for Most Construction Projects Shanghai Court Rules Employee Wrongfully Terminated for Refusing Job Reassignment Court Rules that Personal Information Form and Confidentiality Agreement Cannot Serve as Written Employment Contract Beijing Court Upholds Transferred Employee’s Reinstatement Claim Against Successor Entit
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