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.

全球许多最重要的金融公司都选择香港作为其亚洲地区总部。然而，1997年香港回归中国的戏剧性事件以及随后对该市未来的威胁，让许多观察家对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提出质疑。该研究项目分析了在香港运营的商业和投资银行、资金管理和私募股权领域领先的外国金融公司及其融资者的决策和行为。其论点是，外国公司总体上将把亚太总部设在香港，因为香港是亚洲资本网络，特别是中外金融家网络的关键聚会场所。该研究利用相关理论框架——知识社区、社交网络和实践社区——提出有关香港企业及其金融家的假设。该研究调查了涵盖四个金融领域的 70 家领先公司以及每家公司的主要金融家。来自公司的数据以及对其高级金融家的采访将提供有关公司金融网络方法和金融家行为（他们对知识社区、社交网络和实践社区的参与）的证据。访谈将使用定性软件进行数字记录、转录和分析。作为对这些定性数据的补充，来自香港来源和国际商业名录的大量证据将为更全面的金融公司提供有关其在亚洲管理基础的数据。国际商业媒体将用于收集有关金融公司行为及其在亚洲运营策略的各种轶事证据，并提供对著名金融家的见解。该项目的目标是对香港领先的外国金融公司的决策和行为进行概括，并确定对香港作为全球金融中心地位的影响。因此，这项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生存能力的重要理论和政策问题。相互关联的理论框架——知识社区、社交网络和实践社区——与实证研究相结合，将被用来提出全球城市金融网络的理论。 这项研究针对的是香港的外国金融公司及其主要金融家提供了一个独特的机会来解释全球金融中心的运作以及支撑它们的商业网络。 1997 年香港回归中国的戏剧性事件以及随后对该市未来的威胁对其作为全球金融中心的运作构成了重大挑战。因此，该项目的结果将为了解政治经济冲击对全球金融中心的后果提供见解。这项研究的时机提供了一个难得的机会来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。尽管香港的案例很独特，但该研究包含了更广泛地影响金融中心网络的所有因素。研究结果对公共政策具有影响，因为城市和国家政府领导人担心其全球金融中心的生存能力。