http://repub.eur.nl/res/aut/3989/ List of Publications en http://repub.eur.nl/static-eur/img/logo.png http://repub.eur.nl http://repub.eur.nl/res/pub/32879/ 2012-07-01T00:00:00Z This study examines the changing competitiveness of financial centres in mainland China and Hong Kong based on the geography of equity listing of mainland Chinese firms. Pre-listing firm characteristics are used to explore firms' motives for listing on a particular exchange and whether these motives have changed over time. The results show that Hong Kong's prominence as an international financial centre is attracting the largest and, recently, also the best performing mainland Chinese state-owned enterprises to go public. Less differentiation exists between the competitiveness of Shanghai and Shenzhen, although the renewed strategy of the Shenzhen stock exchange to attract smaller firms appears to be successful. [PUBLICATION ABSTRACT] http://repub.eur.nl/res/pub/22484/ 2011-02-04T00:00:00Z Chinese investeringen in Europa zijn de afgelopen jaren sterk toegenomen. Relatief weinig van deze investeringen hebben echter in Nederland plaatsgevonden. Om in de toekomst nieuwe Chinese investeringen aan te trekken moet Nederland zich richten op een aantal specifieke functies en sectoren. http://repub.eur.nl/res/pub/22280/ 2011-01-27T00:00:00Z This study addresses the organization and strategy of firms in emerging markets with an explicit application to financial services. Given the relevance of a well-functioning financial system for economic growth, understanding the organization and strategy of firms contributing to the development of sound financial services appears of utmost importance for emerging markets. Throughout the study, two main providers of financial services are distinguished, namely banks and stock markets, which are examined in the emerging market context of Central and Eastern Europe and China, respectively. For banking, the general focus is on the adopted strategies of multinational banks to expand across the Central and Eastern European region. The main findings indicate that, based on the degree of host market uncertainty and competition, multinational banks adopt different expansion strategies. Furthermore, it appears that multinational banks expand most effectively by establishing new subsidiaries in countries adjacent to a country where the bank already has a presence. For stock markets, the central theme is how the decision of mainland Chinese firms on where to list their shares reflects the attractiveness of the stock markets within the financial centers of Shanghai, Shenzhen and Hong Kong. The findings suggest an increasing segregation in the strategic listing decisions that mainland Chinese firms make, which indicates that the financial centers of mainland China and Hong Kong have become more specialized and complementary over time. http://repub.eur.nl/res/pub/20447/ 2010-08-10T00:00:00Z This study examines the changing competitiveness of financial centres in mainland China and Hong Kong based on the geography of equity listing of mainland Chinese firms. Pre-listing firm characteristics are used to explore firms’ motives for listing on a particular exchange and whether these motives have changed over time. The results show that Hong Kong’s prominence as an international financial centre is attracting the largest and, recently, also the best performing mainland Chinese state-owned enterprises to go public. Less differentiation exists between the competitiveness of Shanghai and Shenzhen, although the renewed strategy of the Shenzhen stock exchange to attract smaller firms appears to be successful. http://repub.eur.nl/res/pub/19637/ 2010-03-04T00:00:00Z http://repub.eur.nl/res/pub/18042/ 2009-03-20T00:00:00Z This study examines the contemporary financial geographies of Central and Eastern Europe and argues how these may affect the established European financial centre network in the future. As the development of the financial sector in Europe's emerging markets is largely dependent on foreign investments, explicit attention is directed towards emerging centres that exhibit sufficient power to attract multinational financial service firms. In addition, it is empirically assessed from which locations these investments are controlled. The results show a distinct spatial order of financial centres organised around three main city clusters: a 'south-east' cluster controlled by Athens, a 'central-east' cluster controlled by Vienna and a 'Baltic' cluster controlled by both Copenhagen and Stockholm. Based on these results it is argued that these centres of control, and Vienna in particular, may enhance their competitiveness as a financial centre due to their strategic position in the growing markets of Central and Eastern Europe. http://repub.eur.nl/res/pub/13222/ 2008-09-01T00:00:00Z This study examines the contemporary financial geographies in Central and Eastern Europe and argues how these may affect the established European finacial centre network in the future. As the development of the financial sector in Europe’s emerging markets is largely dependent on foreign investments, explicit attention is directed to determine which emerging centres exhibit sufficient power to attract multinational financial service firms. In addition, it is empirically assessed form which locations these investments are controlled. The results show a distinct spatial order of financial centres organized around three main city clusters: a ‘south-east’ cluster controlled by Athens, a ‘central-east’ cluster around Vienna and a ‘Baltics’ cluster directed from Copenhagen and Stockholm. Based on the results it is argued that these centres of control, with Vienna in particular, may enhance their competitiveness as a financial centre due to their strategic position in the growing markets of Central and Eastern Europe. http://repub.eur.nl/res/pub/10516/ 2007-09-13T00:00:00Z The contemporary rise of China in the new geo-economy is increasingly pressurising the spatial distribution of financial activity in mainland China and Hong Kong. With the re-emergence of Shanghai, many people foresee the furture demise of Hong Kong as the most important financial centre for the China mainland. This paper shows that conviction seems rather premature. Bases on the concepts of comparative advantage and market segmentation, the extent to which Shanghai and Hong Kong can be considered complementary financial centres is assessed. By using the listings of mainland China based companies on the stock exchange of each financial centre, it is shown that both cities do not only appear to have distinct hinterlands but they also differ strongly in terms of sectoral specialisation.