Listing BRICs: Stock Issuers from Brazil, Russia, India and China in New York, London, and Luxembourg

Wójcik, Dariusz; Burger, Csaba

doi:10.2139/ssrn.1431511

Cited by 6 publications

(9 citation statements)

References 0 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…It sheds light on the key ‘triangle’ of Chinese ‘foreign’ investment, with mainland China, Hong Kong and the British Virgin Islands (Haberly and Wójcik ). Finally, while there are studies of Chinese financial centres (Lai ), FABS in China (Daniels ) and the geography of Chinese capital markets (Wójcik and Burger ; Karreman and van der Knaap ), the GFNs concept offers a platform to connect these literatures with each other and with an investigation of emerging Chinese global production networks.…”

Section: Introductionmentioning

confidence: 99%

‘Capitalist tools in socialist hands’? China Mobile in global financial networks

Wójcik

Camilleri

2015

Trans Inst British Geog

View full text Add to dashboard Cite

The paper analyses the evolution of China Mobile – one of China's pioneer ‘national champions’, and one of the world's largest telecom companies – through the lens of global financial networks, focusing on the role of advanced business services, financial centres and offshore jurisdictions in economic development. It demonstrates that despite being a domestic company, China Mobile is plugged firmly into the global financial networks, with incorporation in Hong Kong, cross‐listing in Hong Kong and New York, and opaque offshore companies registered in the British Virgin Islands. Global advanced business services firms, with Goldman Sachs in the lead, have been instrumental in the very conception of China Mobile in 1997 and its subsequent expansion, thus helping the Chinese government consolidate and modernise the whole telecom sector. The study highlights the position of Hong Kong as an onshore‐offshore financial centre intermediating between global financial markets and mainland China, and underwriting the reputation of China's ‘national champions’. The analysis also points to the advantages of Beijing over Shanghai as a command centre of state‐owned and controlled enterprises, acting as a magnet for advanced business services. The relevance of global financial networks to China, a latecomer on the stage of financial globalisation, highlights the scope for applying the concept to the rest of the world, and its potential contribution to economic geography.

show abstract

Section: Introductionmentioning

confidence: 99%

‘Capitalist tools in socialist hands’? China Mobile in global financial networks

Wójcik

Camilleri

2015

Trans Inst British Geog

View full text Add to dashboard Cite

show abstract

“…Several leading international financial centres, such as New York, London, and Hong Kong, stand out as the most attractive destinations for overseas listings (Wójcik and Burger, 2010; Pan et al, 2018). On the one hand, these leading centres are well equipped with more sophisticated FABS to garner efficient corporate financing from worldwide investors.…”

Section: Understanding the Spatial And Network Structure Of Gfns Shap...mentioning

confidence: 99%

“…Emerging economies like China have been mobilising overseas listings on leading international stock exchanges as an important strategy in developing their domestic economies (Pan and Brooker, 2014; Peck and Zhang, 2013; Wójcik and Burger, 2010; Zhang and Peck, 2016). Since the 1990s, a growing number of Chinese companies have been successfully listed on international markets (Claessens and Schmukler, 2007; Karreman and van der Knaap, 2012; Yang and Lau, 2006), and New York has been one of the most important destinations (Pan and Brooker, 2014).…”

Section: Introductionmentioning

confidence: 99%

“…As of 2020, over 300 Chinese companies, including many high-profile Chinese companies such as China Mobile, Alibaba, and NIO, were listed on those two stock exchanges in New York. While previous studies foreground the critical role of some transnational FABS firms and financial centre cities in integrating China’s economy into the global financial market (Wójcik and Burger, 2010; Pan et al, 2018), little is known about the geographical trajectory and network structure. In the substantive context of Asia’s recent rise in GFNs (Wójcik, 2013a; Lai et al, 2020), it is necessary to better examine China’s integration and its impact on the global financial landscape.…”

Section: Introductionmentioning

confidence: 99%

See 1 more Smart Citation

Mapping global financial networks: a spatial analysis of Chinese companies’ overseas listings

Pan

Fang

2022

Transactions in Planning and Urban Research

View full text Add to dashboard Cite

Drawing on the case of Chinese companies’ overseas listings on US stock exchanges, this study unpacks the geography and network structure of China’s integration into global financial networks (GFNs) by taking a city network approach based on inter-firm service and collaboration linkages. The results show that New York and Hong Kong are the dominant international financial centres facilitating this process. The Cayman Islands and British Virgin Islands are the key offshore jurisdictions in which the Chinese companies are incorporated. Beijing, Shanghai, and Shenzhen are more likely to be connected with GFNs than other cities in mainland China. The financial and business service firms involved in the overseas listings are mostly located in these cities. These strategic nodes have varied functions in GFNs. Several key city-dyads within the networks are identified, which further indicates the importance of those strategic nodes mentioned above. Despite the growing importance of Chinese firms and financial centres within GFNs, the continuing integration of China’s economy via overseas listings on US stock exchanges has strengthened rather than challenged the existing global financial order dominated by the west.

show abstract

“…Biles ), work on offshore banking in the region and its dynamics (Warf ) and analyses connecting capital account liberalisation, economic performance and social crises (Biles ). Some general works on financial globalisation and ‘the developing world’ also refer to Latin America or to individual countries (Coleman ; Sarre ; van Hulten and Webber ; Wojcik and Burger ). This work though still tends to act through a focus on macro‐processes rather than detailed considerations of the dynamics and differential impacts for individuals, households and communities (with the exception of James Biles' research on Mexico).…”

Section: Introduction: Latin American Financial Geographiesmentioning

confidence: 99%

Towards financial geographies of the unbanked: international financial markets, ‘bancarizacion’ and access to financial services in Latin America

Brown¹,

Castañeda

Cloke³

et al. 2013

Geographical Journal

View full text Add to dashboard Cite

Within the context of an exploration of the recent financial geographies literature, which laments the lack of attention paid to the dynamics and impacts of financial globalisation in Latin America and the global South, this paper examines the links between exclusion from formal financial services provision for low-income sectors across Latin America and the unstable nature of regional financial services architecture and economies. The paper examines a range of issues, including control of the financial services infrastructure by foreign corporations, the role of regional elites and (as importantly) the decision making processes of the poor themselves. This contextual analysis is employed to investigate the premise that the future sustainability of Latin American economies and societies more than ever depends on what efforts are made to develop the extension of financial services provision for the excluded and in so doing broaden the complexity, increase the heterogeneity and enhance the stability of the region's economies. To this end, the paper outlines the technical and non-technical barriers to banking the unbanked in the region within the context of an engagement with the dynamics of the radical changes in the international financial services sector that have impacted upon the region over recent years.

show abstract

Listing BRICs: Stock Issuers from Brazil, Russia, India and China in New York, London, and Luxembourg

Cited by 6 publications

References 0 publications

‘Capitalist tools in socialist hands’? China Mobile in global financial networks

‘Capitalist tools in socialist hands’? China Mobile in global financial networks

Mapping global financial networks: a spatial analysis of Chinese companies’ overseas listings

Towards financial geographies of the unbanked: international financial markets, ‘bancarizacion’ and access to financial services in Latin America

Contact Info

Product

Resources

About