The Financing Patterns and innovation systems of Chinese firms:the mid of 1990s to the first decade of 2000s
There are basically two kinds of financial system: One is the outsider and stock market based model;the other one is the insider and bank-based model.Each supports respective core competitiveness and innovation system.Chinese financial system is dual-structured.The financing pattern of Chinese state firms is similar to the later case,while that of Chinese private firms is similar to the former.It supports dual competitiveness and innovation system.The distinctive feature of Chinese financial system is the state as a controlling shareholder in the financial system.It has significant implications in the crucial economic growth period from the mid of 1990s to the first decade of 2000s.
China The financing pattern of firms Innovation system Core competitiveness
LIAO Chun
Shanghai Lixin University of Commerce
国内会议
上海
英文
742-757
2013-11-08（万方平台首次上网日期，不代表论文的发表时间）