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Full-Text Articles in Business
National Culture And Business Resilience: An Exploratory Study Of Two Chinese Construction Firms Operating In Singapore, Low Sui Pheng, Gao Shang, Teo Wee Kiat Ken
National Culture And Business Resilience: An Exploratory Study Of Two Chinese Construction Firms Operating In Singapore, Low Sui Pheng, Gao Shang, Teo Wee Kiat Ken
Business Review
The study of national culture focuses on differences in values and beliefs among people of different nationalities. With the increasing globalization of economies around the world, the construction industry is inherently exposed to risk at an unprecedented level. This is particularly true for Chinese construction firms, which are aggressively setting up subsidiaries and branches all around the world as they partake in large-scale complex projects overseas. With the liberal foreign trade policies adopted by China after its reforms, domestic construction firms in China also face immense pressure from the international players that are now able to enter the Chinese construction …
On The Effectiveness Of Housing Purchase Restriction Policy In China: A Difference In Difference Approach, Jerry X. Cao, Bihong Huang, Rose Neng Lai
On The Effectiveness Of Housing Purchase Restriction Policy In China: A Difference In Difference Approach, Jerry X. Cao, Bihong Huang, Rose Neng Lai
Research Collection Lee Kong Chian School Of Business
The Chinese government imposed the purchase restriction policy to rein in the housing bubble in 2010. Using a two-stage difference-in-difference approach and a comprehensive dataset covering the real estate markets across 70 cities, we find that the policy triggered substantial decline in the property price and transaction volume. Cities having higher reliance on real estate sector for fiscal revenue and economic growth experienced greater decline in housing prices following the policy implementation. However, the policy had no measurable effects on the nationwide construction boom, hinting the ineffectiveness of the policy to correct the housing bubble.