中国四个城市吸引海外回流人才比较研究：一个政策的视角 (Returned highly skilled migrants in four Chinese cities: a policy perspective)

Most studies of returned highly skilled migrants in China were guided by a national approach, emphasizing how the size and direction of the return migration were shaped by national policies and practices. What have been overlooked are the flows of returned skills at the municipal level where talent attraction and employment really take place. To fill this gap, the author conducted a comparative study of the returned highly-skilled migration in Beijing, Shanghai, Guangzhou and Shenzhen, the four most important cities in China. Based on in-depth interviews with returned skills from different countries and with various occupational backgrounds, complemented by the analysis of talent policies that have been issued by each city since the early 1990s and relevant statistical data, this study finds that, first, municipal cities tend to make ‘localized policies’ in order to suit local situation and to increase flexibility and efficiency in their effort of enticing of talents, demonstrating a wide range of variations not yet discussed in previous literature. It is thus crucial to pay timely attention to municipalities in order to obtain a more accurate and balanced picture of returned skilled migration in China. Second, the flow of returned skills shall be perceived in a broader analytical framework, in which the attractiveness to skills comes mostly from the long-term career potentials made possible by the industrial structure of individual city and mediated by social, cultural and geographical factors. It is only within this larger framework and through the interaction with other factors that government policies play their modulator roles.

The motives and performance of cross-border acquirers from emerging economies: Comparison between Chinese and Indian firms

During the recent decade, the world has witnessed the rapid growth of MNEs from emerging economies. Their increasing participation in cross-border mergers and acquisitions has raised great attention in the extant literature. This study evaluates the value creation from these cross-border transactions from two representative emerging countries, namely China and India, and determines factors that result in the different performance of these international acquisition activities. Cross-border acquisitions conducted by these countries’ companies indeed lead to significant shareholder wealth creation. Furthermore, Indian shareholders are more likely to benefit from deals in small cultural distance countries, while Chinese investors gain from the cross-border expansion of manufacturing companies. Location also affects the performance of cross-border acquisitions, with acquisitions into developed countries generating higher returns to shareholders. Our sample consists of 203 Indian and 63 Chinese cross-border deals over the period 2000–2010 and our results hold after controlling for various deal-level and firm-level characteristics.