• Research Paper on:
    Managing Investments in China’s Reform Climate

    Number of Pages: 6

     

    Summary of the research paper:

    A 6 page research proposal written for inclusion in application to a PhD program. As China continues the transition from a state-controlled to a market economy, how will that transition affect long-standing systems that have been in place for decades, and what effect will it have on China’s long-term growth? Will China need to become increasingly “western” in its approach to financial markets, or will it be able to establish and follow its own course? Which approach would be of greatest benefit to the Chinese people? Bibliography lists 6 sources.

    Name of Research Paper File: CC6_KSfinIntlChinRef.rtf

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    Unformatted Sample Text from the Research Paper:
    China began easing into economic reform more than a generation ago, when the capitalist experiment in a single region of the country proved to be successful in elevating  living standards in that area. Privatization steadily continues, a trend that can be expected to continue following Chinas accession to the World Trade Organization (WTO) and the agreements it  has made with that organization and its other member states. "Currently, the state accounts for half of GDP" (Sharma, 2004; p. 34). Only a decade ago, the state  sector accounted for 80 percent of GDP. As China continues the transition from a state-controlled to a market economy, how will that transition  affect long-standing systems that have been in place for decades, and what effect will it have on Chinas long-term growth? Will China need to become increasingly "western" in its  approach to financial markets, or will it be able to establish and follow its own course? Which approach would be of greatest benefit to the Chinese people?  These are some of the preliminary questions guiding the intention to study the evolution of Chinese financial markets, internal control and the development of financial  information systems. There has been a dearth of financial information available in the past, but now it appears that information is available in greater quantity as well as reliability.  Changing Financial Environments Market Information Russel and Torbey (2002) quote Warren Buffett as saying, "Id be a bum in the street with a  tin cup if the markets were efficient." Others are more inclined to defend the efficient market hypothesis (EMH) formulated by Fama in 1970 (Heakal, 2002). 

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