The Financial Networks of Hong Kong

香港金融网络

• 批准号: 0451945
• 负责人: David Meyer
• 金额: --
• 依托单位: Brown University
• 依托单位国家: 美国
• 项目类别: Continuing Grant
• 财政年份: 2006
• 资助国家: 美国
• 起止时间: 2006-01-15 至 2009-12-31
• 项目状态: 已结题
• 来源: https://www.nsf.gov/awardsearch/showAward?AWD_ID=0451945&HistoricalAwards=false
• 关键词: Financial; Networks; Hong; Kong

Many of the world's most important financial firms choose Hong Kong as their Asian regional headquarters. However, the drama of Hong Kong's return to Chinese sovereignty in 1997 and subsequent threats to the city's future have led many observers to question the future of Hong Kong as the most important financial center of Asia and as China's window to global capital. This research project analyzes decision making and behavior of leading foreign financial firms and their financiers in commercial and investment banking, money management, and private equity, which operate in Hong Kong. The thesis is that foreign firms will, by and large, maintain their Asia-Pacific headquarters in Hong Kong, because it is the pivotal meeting place in Asia of the networks of capital, especially of the Chinese and foreign financiers. The research draws on related theoretical frameworks-knowledge communities, social networks, and communities-of-practice-to formulate the hypotheses about Hong Kong firms and their financiers. The study examines seventy leading firms covering the four financial sectors, and key financiers in each firm. Data from the firms and interviews with their senior financiers will provide evidence about the firms' approaches to financial networks and about financiers' behavior-their participation in knowledge communities, social networks, and communities-of-practice. Interviews will be digitally recorded and transcribed and analyzed using qualitative software. Supplementing these qualitative data, extensive evidence from Hong Kong sources and international business directories will provide data for a more comprehensive set of financial firms regarding their management bases in Asia. The international business press will be used to collect diverse anecdotal evidence about the behavior of financial firms and their strategies for operating in Asia, and it provides insights into prominent financiers. The objectives of this project are to develop generalizations about the decision making and behavior of leading foreign financial firms in Hong Kong and to determine the consequences for the city's status as a global financial center. Thus, this research will address important theoretical and policy questions about global city financial networks and the long-term viability of global financial centers. The interrelated theoretical frameworks-knowledge communities, social networks, and communities-of-practice-in conjunction with empirical findings, will be used to suggest a theory of global city financial networks.This study of foreign financial firms and their leading financiers in Hong Kong presents a unique opportunity to explain the operation of global financial centers and the business networks which underpin them. The drama of Hong Kong's return to Chinese sovereignty in 1997 and subsequent threats to the city's future represent substantial challenges to its functioning as a global financial center. Therefore, the results of this project will offer insights about the consequences of political-economic shocks on a global financial center. The timing of the study offers a unusual chance to personally interview key decision makers of firms and their top financiers who are making decisions which impact the future viability of a leading global financial center. While the Hong Kong case is unique, the research contains all of the elements impacting financial center networks more generally. The results have implications for public policy, because city and national governmental leaders are concerned about the viability of their global financial centers.

不少全球最重要的金融机构都选择香港作为亚洲区总部。然而，1997年香港主权回归中国的戏剧性事件以及随后对香港未来的威胁，使许多观察人士质疑香港作为亚洲最重要的金融中心和中国通往全球资本的窗口的未来。该研究项目分析了在香港经营的领先外国金融公司及其金融家在商业和投资银行，资金管理和私募股权方面的决策和行为。这个论点是外国公司大致上会把亚太区总部留在香港，因为香港是亚洲资本网络，特别是中国和外国金融家的枢纽。该研究借鉴了相关的理论框架--知识社区、社交网络和实践社区--来制定有关香港公司及其金融家的假设。这项研究调查了涵盖四个金融部门的70家领先公司，以及每家公司的主要金融家。来自这些公司的数据和对他们的高级金融家的采访将提供有关这些公司的金融网络方法和金融家行为的证据--他们在知识社区、社交网络和实践社区中的参与。访谈将被数字化记录和转录，并使用定性软件进行分析。除了这些定性数据外，来自香港和国际商业名录的大量证据将为金融公司提供更全面的数据，以了解其在亚洲的管理基础。国际商业新闻将被用来收集各种轶事证据的行为，金融公司和他们的战略，在亚洲的经营，它提供了深入了解著名的金融家。该项目的目标是总结香港领先外国金融公司的决策和行为，并确定对该市作为全球金融中心地位的影响。因此，本研究将解决有关全球城市金融网络和全球金融中心的长期可行性的重要理论和政策问题。本研究以知识社群、社交网络、实践社群为理论框架，结合实证研究结果，提出全球城市金融网络理论。本研究以香港的外资金融机构及其主要金融机构为研究对象，为解释全球金融中心的运作及其商业网络提供了一个独特的机会。1997年香港主权回归中国的戏剧性事件以及随后对香港未来的威胁，对香港作为全球金融中心的功能构成了重大挑战。因此，该项目的结果将提供有关全球金融中心的政治经济冲击后果的见解。这项研究的时机提供了一个不寻常的机会，可以亲自采访公司的关键决策者及其顶级金融家，他们正在做出影响全球领先金融中心未来生存能力的决策。虽然香港的案例是独特的，但研究包含了影响金融中心网络的所有因素。研究结果对公共政策有影响，因为城市和国家政府领导人担心他们的全球金融中心的可行性。