Matching Items (13)
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- All Subjects: Business Administration
- Genre: Doctoral Dissertation
- Creators: Zhu, Ning
Description新世纪以来中国电影的产业化改革与探索愈发呈现良好的态势，国产院线电影也在实践中努力赢得观众和票房市场。其中类型喜剧电影，最符合商业电影规律、最顺应影视市场需求、最能获得票房收益而备受影视创投机构、制作公司青睐。本论文研究对象聚焦类型喜剧电影，通过“欢声笑语里的财富”现象，探究类型喜剧电影内部本体构成要素与外部客观促成要素的关联；以通过分析自变量与因变量因素对中国电影票房之类型喜剧影响因素进行实证研究，为影视创投和影视制作总结并提供可靠建议。
本论文整体结构包括：第一部分为导论，包括研究背景、目的意义，相关文献综述与文献评述和论文创新性。第二部分聚焦类型喜剧本身，从电影学范畴的电影本体出发，探究“笑”的心理、社会与文化内涵，并分析将“笑”对经济领域的延伸。第三部分以影视投资、票房为依托，从现象和数据中探寻影响类型喜剧电影的因素，为展开中国电影票房之类型喜剧影响因素实证研究做好理论的铺垫。第四与第五部分则基于上述理论进行实证检验，选用2013-2020年电影样本，采用多元线性回归模型研究喜剧类型对票房的吸引力，以及不同种类型喜剧对电影票房的提振效果作用差异。研究发现喜剧电影对电影票房有显著的提振作用；以及研究电影的外部影响因素（续集效应）对电影票房的作用。发现续集电影有更好的票房表现，续集效应的票房提升作用在喜剧电影中表现的更加明显。
本论文研究成果最终将回归到“欢声笑语里的财富”本身；即“类型复合喜剧”对促进电影与金融产业的互动关联、实现更加可持续化发展，以及进而推动经济及文化业的发展。
ContributorsLiu, Yongqian (Author) / Shen, Wei (Thesis advisor) / Zhu, Ning (Thesis advisor) / Dong, Xiaodan (Committee member) / Arizona State University (Publisher)
Created2022
Description城市商业银行是我国银行业体系中的重要组成部分，在新冠疫情的背景下，本文从对我国商业银行不良贷款的成因进行分析，从新冠疫情前后城商行不良贷款、盈利能力、资本充足性等角度进行比较，总结新冠疫情之后城商行不良贷款规模上升、区域分化、不良处置加大等特征变化。然后，从企业、个人和银行本身等路径全面系统地分析新冠疫情对城商行不良贷款的直接影响，并从“宽信用”、“宽监管”和“宽货币”等政策层面对城商行不良贷款的间接影响机制进行分析。在实证分析上选取2018年一季度至2020年四季度的9个经济指标作为控制变量，分成宏观、行业和银行等三个层次，考虑到数据的可得性，选取20家上市城商行的不良贷款率作为被解释变量，通过建立连续型双重差分模型对新冠疫情对我国城市商业银行不良贷款率的影响进行实证分析，并进行稳定性和影响机制检验，得出了受疫情冲击越严重的地区，经济受影响越明显，因而城商行的不良贷款率增加得越多的结论，而且疫情对城商行不良贷款率且具有连续且时滞性的影响。相比高拨备覆盖率的城市商业银行，疫情更能提高低拨备覆盖率、抵御风险较低的城商行的不良贷款率。选取银行资本充足率作为被解释变量进行了稳健性检验。选取工业增加值和居民人均收入作为渠道变量，进行影响机制检验，结果说明工业增加值和居民人均收入对城商行不良贷款有负向的影响。最后，在理论和实证结果的基础上，对城商行不良贷款处置和有效预防疫情带来不良风险的措施提出相关建议。
ContributorsZhong, Rujian (Author) / Zhang, John (Thesis advisor) / Zhu, Ning (Thesis advisor) / Hu, Jie (Committee member) / Arizona State University (Publisher)
Created2022
Description
Culture is the root and soul of a country and a nation. The excellent traditional Chinese culture is an important source of modern socialist culture with Chinese characteristics and an inexhaustible spiritual driving force for the Chinese nation. As our country’s comprehensive national strength unceasingly climbs, the Chinese traditional culture receives increasing attention from people of all walks of life. The cultivation of rice in the south and wheat in the north in China leads to a huge cultural difference, which shapes individual behavior by influencing individual values, and subsequently influences enterprise governance mode and management decisions. Using the data of the origins of the founders of family businesses listed on A-share market from 2008 to 2020, this paper examines the relationship between collectivist culture and family business innovation and its impact mechanism. The results show that collectivist culture inhibits the innovation input of family firms, and the level of family control plays a mediating role. When the market regulatory environment is better and the political association of enterprises is lower, the influence of collectivist culture on innovation is more obvious. This DBA dissertation thoroughly analyzes the specific path that affects the innovative ability of family businesses. It enriches the related research on family business governance and technological innovation, contributes to the empirical evidence of eastern cultural context, and provides reference for strengthening the dominant position of technological innovation in family business and improving the level of regional innovation.
ContributorsGao, Boshu (Author) / Wang, Lili (Thesis advisor) / Zhu, Ning (Thesis advisor) / Li, Wei (Committee member) / Arizona State University (Publisher)
Created2024
Description
Photovoltaic industry, as a strategic emerging industry supported by the national policy for a long time, is an important part of new energy industry, which is crucial for China to realize the upgrading of its energy structure and practice the goal of "carbon peak and carbon neutrality". Photovoltaic industry is characterized by long R&D investment cycle, strong scale effect, high risk of technology selection, etc. Therefore, the study of photovoltaic industry can help to explore the development law of emerging industries, and has a strong inspirational role in promoting the transformation of industrial development and the construction of independent innovation of enterprises. Silicon link is the upstream link of PV manufacturing industry, with high technical barriers, and is the most representative link of PV industry. This paper selects all the PV enterprises in the upstream silicon link of the PV industry chain as the research object according to the standards of the PV industry, by combing the industrial development history and technological change of such enterprises, and trying to explore the basic influencing factors affecting their technological routes by focusing on the technological route disputes between mono-crystalline and polycrystalline in the process of their development, creatively identifying the competitive strategies and decomposing them in the perspectives of costs, efficiency, environmental externalities and transaction costs, by constructing the basic factors affecting their technological routes. We creatively identify the competitive strategies and decompose them from the perspectives of cost, efficiency, environmental externalities, and transaction cost, and try to answer the question of what characteristics of technology routes can help enterprises gain competitive advantages from the perspective of the final development of enterprises through the construction of theoretical models and case studies, and then explore the specific influencing factors affecting the selection of different technology routes by enterprises. In this way, we can provide suggestions for improving the development quality of China's photovoltaic industry, realizing sustainable development, and contributing to the rapid development of China's strategic emerging industries.
ContributorsQiu, Xin (Author) / Wang, Yimin (Thesis advisor) / Cheng, Shijun (Thesis advisor) / Zhu, Ning (Committee member) / Arizona State University (Publisher)
Created2024
Description2020年的疫情导致全球多数经济体进行史无前例的货币超发，美国的货币超发水平甚至超过二战时期，货币总量快速上升推升资产价格，比特币成为大类资产中的领跑者，越来越受到市场的关注和重视，作为新生事物，全球监管机构对比特币普遍持谨慎态度，主流金融机构虽然对比特币有所关注，但是研究并不深入。本文通过研究加入比特币的资产配置模型投资效果，以及比特币给投资组合带来的边际变化，全面说明比特币在资产配置中的作用，并以一个常见的基础配置模型为出发点，讨论不同参数取值下，资产配置结果的差异，并从统计学角度总结出收益及风险角度的一般化特征。其次，对比特币的金融特性从宏观因素、自回归趋势、格兰杰因果检验等多个角度进行分析，解析比特币的特性。研究发现，比特币具有高风险高收益特征，且其风险收益比优于其它主流金融主权定价锚资产，加入比特币后，组合的收益增益非常明显。且无论投资者怎么选择起始时间、采取何种方式预测收益及风险，在多长时间范围内进行再平衡，投资组合均有80%以上的概率实现收益提升，且收益提升幅度大于风险提升幅度。从最优投资点推广到一般化的投资有效前沿上，以上结论依然成立，且评估投资有效前沿时，重复随机抽样后，投资组合夏普率提升的概率亦达到71%以上。更进一步，为规避收益预测参数不稳定对投资结果的影响，改进收益预测方式，基于波动率大小压缩预测收益后，预测结果能抵御资产短期扰动带来的影响。最后，笔者从比特币的自相关性、格兰杰因果检验与宏观因素影响角度研究了比特币资产的特性，发现比特币具有极强的价格趋势，且资产配置中，其价格趋势是提升组合夏普率的主要贡献来源。在采用工业增加值（IAV）、M2解释比特币的价格变化时，发现比特币与宏观因子之间的关系并不显著，且比特币与其他资产收益的绝大多数格兰杰因果关系检验结果不显著，这说明比特币价格变化受自身特性的影响更大，但是当剔除比特币的极端收益时，比特币与宏观因素之间的相关关系变得局部显著。本文是典型的实践型论文，具有非常强的实战指导价值，可以为资产配置实践者提供借鉴。
ContributorsYun, Zhijie (Author) / Huang, Xiaochuan (Thesis advisor) / Li, Feng (Thesis advisor) / Zhu, Ning (Committee member) / Arizona State University (Publisher)
Created2023
Description
The aim of this dissertation is to examine the factors influencing the franchise value of international banks in the long run. Tobin’s Q ratio (i.e., simplified version, Price to Book value) is applied to measure the franchise value on a dataset of 40-year performance (1981-2021) of the Global Systematic Important Banks (G-SIBs). Factors including the macro, operational, and business factors are analyzed using the fixed effect linear regression models to identify their correlations with the franchise value. The findings indicate that macro factors, such as interest rate, globalization cycle, pattern of global value chain, and stock market performance play a vital role in determining international banks’ franchise value. Macro factors play a more important role than operational factors such as leverage ratio and risk appetite, as well as business scope of a bank measured by business diversification and the scale of business. An analysis of a smaller sample indicates that investment in technology is another main factor driving the franchise value of international banks. In addition, peer group comparison of similar banking models is also conducted for universal banks, investment banks, and Japanese banks separately. Finally, two case studies of the failures of Silicon Valley Bank and Credit Suisse in 2023 are discussed to echo the rationale drawn from the empirical analyses of G-SIB banks.
Contributorszhang, Huan (Author) / Shao, Benjamin (Thesis advisor) / Zhu, Ning (Thesis advisor) / Li, Wei (Committee member) / Arizona State University (Publisher)
Created2024
Description
During the past decade, the Chinese bond market has been rapidly developing. The percentage of bond to total social funding is constantly increasing. The structure and behavior of investors are crucial to the construction of China’s bond market. Due to specific credit risks, bond market regulation usually involves in rules to control investor adequancy. It is heatedly discussed among academia and regulators about whether individual investors are adequate to directly participate in bond trading. This paper focuses on the comparison between individual and institutional bond investors, especially their returns and risks. Based on the comparison, this paper provides constructive suggestions for China’s bond market development and the bond market investor structure.
ContributorsLiu, Shaotong (Author) / Gu, Bin (Thesis advisor) / Zhu, Ning (Thesis advisor) / Yan, Hong (Committee member) / Arizona State University (Publisher)
Created2016
Description
Based on multiple case studies of the transactions in China by private equity funds, this paper attempts to explore the value-creation capabilities of private equity funds at the transaction/deal level.
Previous studies on financial performance of PE funds utilized data collected from publically traded companies in European/US markets. By measuring financial performance of both “pre- and post-transactions,” these studies researched two questions: 1) Do buyout funds create value? 2) If they do, what are the sources of value creation? In general, studies conclude that private equity/buyout funds do create value at both the deal level and investor level. They also identified four possible sources of such value creation: 1) undervaluation, 2) leverage effect, 3) better governance, and 4) operational improvement.
However, relatively little is known about the process of value creation. In this study, I attempt to fill that gap, revealing the “secret recipe” of value creation.
By carefully looking into the process of value creation, this study suggests five propositions covering capabilities at 1) deal selection/screening, 2) deal structuring, 3) operational improvement, 4) investment exit, and 5) Top Management Team (TMT). These capabilities at private equity/buyout funds are critical factors for value creation. In a thorough review of the value-creation process, this paper hopes to:
1) Share real-life experiences and lessons learned on private equity transactions in China as a developing economy.
2) Reveal the process of deal/transaction to observe measures taken place within deal/transaction for value creation.
3) Show how well-executed strategies and capabilities in deal selection/screening, deal structuring, operational improvement, and investment exit can still create value for private equity firms without financial leverage.
4) Share the experience of State-Owned Enterprises (SOE) reform participated in by private equity firms in China. This could provide valuable information for policy makers in China.
Previous studies on financial performance of PE funds utilized data collected from publically traded companies in European/US markets. By measuring financial performance of both “pre- and post-transactions,” these studies researched two questions: 1) Do buyout funds create value? 2) If they do, what are the sources of value creation? In general, studies conclude that private equity/buyout funds do create value at both the deal level and investor level. They also identified four possible sources of such value creation: 1) undervaluation, 2) leverage effect, 3) better governance, and 4) operational improvement.
However, relatively little is known about the process of value creation. In this study, I attempt to fill that gap, revealing the “secret recipe” of value creation.
By carefully looking into the process of value creation, this study suggests five propositions covering capabilities at 1) deal selection/screening, 2) deal structuring, 3) operational improvement, 4) investment exit, and 5) Top Management Team (TMT). These capabilities at private equity/buyout funds are critical factors for value creation. In a thorough review of the value-creation process, this paper hopes to:
1) Share real-life experiences and lessons learned on private equity transactions in China as a developing economy.
2) Reveal the process of deal/transaction to observe measures taken place within deal/transaction for value creation.
3) Show how well-executed strategies and capabilities in deal selection/screening, deal structuring, operational improvement, and investment exit can still create value for private equity firms without financial leverage.
4) Share the experience of State-Owned Enterprises (SOE) reform participated in by private equity firms in China. This could provide valuable information for policy makers in China.
ContributorsYe, Youming (Author) / Lee, Peggy (Thesis advisor) / Zhu, Ning (Thesis advisor) / Wahal, Sunil (Committee member) / Arizona State University (Publisher)
Created2016
Description
This article can be divided into six parts.
The first chapter analyzes the background, theatrical and particle reasons of this research. The author argues that the management of law firm needs a set of good system. The first one is operating the law firm in scale, and the other on is corporate management model, which shall be constructed in detail in the paper and will be put into practice by the law firm in which the author is worked.
The second chapter will introduce modern management theory, combining the situation of management in our law firm to analyze, raising some reasonable suggestions and instructions to promote our law firm to achieve the corporate management.
In the third chapter, the first chapter, starting with the review of the development process of foreign and our law firms, listing the organizational forms and the characteristics of our law firm, analyzing the situation and the drawbacks of the law firm management.
The fourth and fifth chapter introduce he background, the connotation of the corporate management model, listing the development and successful experience of some typical cases in respect of corporate management.
In the last chapter, the construction of corporate management model will be introduced in terms of organization form, human resource management and informationizing development.
The corporate management model is not mature in china. Though it is not easy to reform the existing model, but it should be believed that the development benefiting the legal industry will be achieved.
The first chapter analyzes the background, theatrical and particle reasons of this research. The author argues that the management of law firm needs a set of good system. The first one is operating the law firm in scale, and the other on is corporate management model, which shall be constructed in detail in the paper and will be put into practice by the law firm in which the author is worked.
The second chapter will introduce modern management theory, combining the situation of management in our law firm to analyze, raising some reasonable suggestions and instructions to promote our law firm to achieve the corporate management.
In the third chapter, the first chapter, starting with the review of the development process of foreign and our law firms, listing the organizational forms and the characteristics of our law firm, analyzing the situation and the drawbacks of the law firm management.
The fourth and fifth chapter introduce he background, the connotation of the corporate management model, listing the development and successful experience of some typical cases in respect of corporate management.
In the last chapter, the construction of corporate management model will be introduced in terms of organization form, human resource management and informationizing development.
The corporate management model is not mature in china. Though it is not easy to reform the existing model, but it should be believed that the development benefiting the legal industry will be achieved.
ContributorsZhu, Ping (Author) / Gu, Bin (Thesis advisor) / Chang, Chun (Thesis advisor) / Zhu, Ning (Committee member) / Arizona State University (Publisher)
Created2017
Description法律职业全球化作为经济全球化的必然产物，在近二十年来不断受到法律职业社会学者的广泛关注及探讨。中国改革开放四十年中国法律职业得以蓬勃发展，却很少学者研究探讨中国法律职业全球化。在中国企业“走出去”和“一带一路”倡议的背景下，新技术创新特别是人工智能、大数据等浪潮不断冲击着法律职业，给中国法律职业全球化发展带来机遇和挑战。本文拟阐述法律职业发展及其全球化理论，并以比较法视角探索研究不同司法管辖区如美国、英国以及印度等国法律职业全球化经验和启示，考察现有国际律师事务所以及“四大”法律服务全球化的发展历程，并且探新技术的创新是如何改变法律职业、重塑全球法律服务业的格局，通过分析和借鉴法律职业的国际经验、经济学原理和变革趋势探讨中国法律职业改革开放及全球化的模式和路径，并提出相关政策建议
ContributorsChen, Gui (Author) / Gu, Bin (Thesis advisor) / Zhu, Ning (Thesis advisor) / Yan, Hong (Committee member) / Arizona State University (Publisher)
Created2019