The Shenzhen ETS is the first urban-level “cap-and-trade” carbon emissions trading scheme to operate in China. This paper gives an overview of the economic and emissions situation in Shenzhen and focuses on the development of the Shenzhen ETS regulatory framework. It is devised as an ETS with an intensitybased cap, output-based allocation and a market for trading of allowances. The design of th...

We compare average impulse response of rate of return curves computed from more than sixty-seven years of historical Dow Jones Industrial, Transportation, and Utility Average closing values. The curves are relatively consistent in shape until the 1990s, when marked changes, indicative of improved market efficiency, occur for the Dow Jones Industrial Average. We argue that the effect is a result...

Can industrial policy be market-ensuring (e.g. via antitrust or enforcement of property rights) and market-conforming (non-distorting)? Can it provide a political second-best solution by creating a smaller market distortion to prevent a larger one that results from political ferment? This paper explores issues of the definition of industrial policy, discusses market failure vs. government failu...

Although prior research has addressed the influence of production activity and research and development (R&D) on productivity, it is not clear whether production and R&D affect the market value of a firm. This study proposes and verifies an R&D value chain framework to explore the relationship among productivity, R&D, and firm market values, as measured by Tobin’s q theory. By doing so, we atte...

The purpose of this paper is to analyze the simultaneous effect of Corporate Culture and market orientation on the performance of small to medium-sized industrial manufacturing firms. To this end, a cross-sectional survey and variance based structural equation modeling was used for testing the hypotheses. The samples were selected based on a stratified sampling of commodity and specialty indust...

The paper considers the recent trends at the market for corporate control in Ukraine. As a result of the undertaken original research, some very important conclusions have been made. First of all, during 1998-2001 corporate ownership structure in Ukraine became more concentrated, in contrast to such country in transition as Russia. Second, the more concentrated is the ownership structure of Ukr...

the business and industrial corporations have a major role in the trend of economic development and growth of any nations the higher achievement and successfulness of these organizations from the stand point of business firms is related to the degree of their role and income generation. in developed countries the industrial firms have achieved efficiency and profitability through internal marke...