This paper tries to estimate the capital investment required for the fixed-telephony network switching equipment as demanded by the fourth national development plan. As a first step, the Cobb-Douglas model is used as a successful demand forecasting model to estimate the demand over the target years. Then, an architectural plan is developed for the fixed-telephony switching network that takes in...

We use a panel of over 120,000 Chinese firms of different ownership types over the period 2000-2007 to analyze the linkages between investment in fixed and working capital and financing constraints. We find that those firms characterized by high working capital display high sensitivities of investment in working capital to cash flow (WKS) and low sensitivities of investment in fixed capital to ...

On average, higher levels of such investments raise production by increasing the productivity of the labor force. While the significance of shortterm changes in business investment is less widely recognized, the importance of such changes for the business cycle has been known to economists since the beginning of the last century. For example, many believe that the current record expansion has b...

In this paper, we analyze whether the total debt ratios and bank loan ratios of Chinese listed companies had any impact on their fixed investment in 2001-2006, and whether this impact, if it existed, differed among companies with differing investment opportunities. Our results are as follows. First, our analysis reveals that the total debt ratio (bank loan ratio) did have a negative impact on f...