The AU＇s plan to introduce cabotage laws restricting the movements of foreign vessels in African coastal waters could be a major step toward the continent＇s economic independence
At the turn of the year,major state-owned enterprises such as CNPC,Sinopec and CNOOC held their 2025 town hall meetings to review the past year's achievements,summarize experiences,identify gaps,plan new tasks,and...At the turn of the year,major state-owned enterprises such as CNPC,Sinopec and CNOOC held their 2025 town hall meetings to review the past year's achievements,summarize experiences,identify gaps,plan new tasks,and set clear directions for efforts in the coming year.展开更多
A briefing on policy was held by the State Council Information Office of China on February 20.At the briefing,Zhou Weijun,Director General of the Credit Supervision and Management Department,State Administration for M...A briefing on policy was held by the State Council Information Office of China on February 20.At the briefing,Zhou Weijun,Director General of the Credit Supervision and Management Department,State Administration for Market Regulation(SAMR),expounded the policy on the participation of foreign-owned enterprises in the development and revision of standards for the large-scale equipment upgrade and consumer goods trade-in programs.展开更多
As China's first wholly foreign-owned Grade III general hospital opens,it means more medical options–and a new attractive field for foreign investors.ON October 3,1990,the People’s Republic of China and Singapor...As China's first wholly foreign-owned Grade III general hospital opens,it means more medical options–and a new attractive field for foreign investors.ON October 3,1990,the People’s Republic of China and Singapore established their diplomatic relations,and 2025 marks the 35th anniversary of the event.This makes it especially fitting that China’s first wholly foreign-owned grade III general hospital.展开更多
In April 2022,then-President of Mexico Andrés Manuel López Obrador officially implemented the lithium resources nationalization law and established the state-owned enterprise LitioMx to oversee their explora...In April 2022,then-President of Mexico Andrés Manuel López Obrador officially implemented the lithium resources nationalization law and established the state-owned enterprise LitioMx to oversee their exploration,extraction,and processing.His successor,Claudia Sheinbaum,reaffirmed this assertive resource governance policy in October 2024.As a direct consequence,the operations of the Chinese firm,Ganfeng Lithium in Mexico,experienced significant disruption.展开更多
The governance of state-owned enterprises(SOEs)has long been central to political and institutional economic debates.Critics often associate SOEs with ine"ciency,rent-seeking and dogma,treating them as relics of ...The governance of state-owned enterprises(SOEs)has long been central to political and institutional economic debates.Critics often associate SOEs with ine"ciency,rent-seeking and dogma,treating them as relics of command economies.Yet in many developmental states,they have been engines of industrialisation,technological progress and national resilience.China provides perhaps the most striking example.Its SOEs have survived and evolved,some becoming globally competitive multinationals in energy,infrastructure and telecommunications.展开更多
Taking its advantages as a state-owned financial institution,the Bank of China Shanghai Branch has formulated the action plan for the high-quality development of AI,which includes ten aspects.First,it will invest no l...Taking its advantages as a state-owned financial institution,the Bank of China Shanghai Branch has formulated the action plan for the high-quality development of AI,which includes ten aspects.First,it will invest no less than 100 billion yuan in the next five years to provide strong comprehensive financial support for various entities in Shanghai’s entire AI industry chain.展开更多
Operating out of Shanghai,Brujas Textile Tech(Shanghai)Co.,Ltd.(“Brujas”)is a wholly owned subsidiary of Guangshan White Shark Card Clothing Co.,Ltd.(“White Shark”)tasked with providing international trade service...Operating out of Shanghai,Brujas Textile Tech(Shanghai)Co.,Ltd.(“Brujas”)is a wholly owned subsidiary of Guangshan White Shark Card Clothing Co.,Ltd.(“White Shark”)tasked with providing international trade services to support its parent company's global operations.Whereas White Shark,as the parent company founded in 1962,is the manufacture facilities located in Xinyang,Henan Province.Brujas was founded in 1908 by the Brujas family in Terrassa,Spain.In 2008,White Shark integrated Brujas brand into its production and added European experience and knowledge that continues in the production today.This enables White Shark and Brujas to provide customers with the best,personalized carding solutions.White Shark and Brujas service 8700 clients in over 40 countries globally.The main products of the company include but not limited to:metallic card clothing,flat tops,stationary flat,circular comb,combing roller,cleaning fillet,raising fillet,flexible fillet etc.,and they are widely used in the areas of cotton spinning,non-woven materials,wool and linen spinning.展开更多
This article explores how Cangzhou Refining&Chemical is advancing the development of a community of shared future between the enterprise and its employees,amidst the deepening reforms and high-quality development ...This article explores how Cangzhou Refining&Chemical is advancing the development of a community of shared future between the enterprise and its employees,amidst the deepening reforms and high-quality development of state-owned enterprises and their“interaction”with new quality productive forces.By prioritizing employee care and support,the company enhances organizational efficiency,converting employee engagement into tangible productivity,and offers a practical model for other innovation initiatives.展开更多
This paper focused on the corrosion resistance of cold spray Al–Al_2O_3composite coatings used on carbon steel pipe surfaces under thermal insulation. Al–Al_2O_3coatings were produced on the carbon steel pipe surfac...This paper focused on the corrosion resistance of cold spray Al–Al_2O_3composite coatings used on carbon steel pipe surfaces under thermal insulation. Al–Al_2O_3coatings were produced on the carbon steel pipe surface by cold spray(CS) technology. Experimental apparatus was built to test the corrosion resistance of coatings beneath mineral wool insulation under isothermal, thermal cycling and wet/dry conditions. The results showed that when α-Al_2O_3 was added in spraying powder, the coating could obtain higher hardness and a denser microstructure. From corrosionunder-insulation(CUI) tests, Al–Al_2O_3CS coatings were proven to be efficient in protecting carbon steel pipe from CUI mainly owning to lamellar microstructures of coatings. There was no evidence to show that α-Al_2O_3 might bring any negative effect on corrosion resistance. Al–Al_2O_3CS coatings were sensitive to the chloride ion concentration. When these coatings were exposed to higher concentrations of NaC l, the coating's exhibited faster degradation.展开更多
In this paper,it is first briefly described the basic situation and current policies of state owned enterprise reform in China.Then the major issues in the reform process are identified,the possible solutions in term...In this paper,it is first briefly described the basic situation and current policies of state owned enterprise reform in China.Then the major issues in the reform process are identified,the possible solutions in terms of reengineering stock equity structure and state share circulation are discussed,and finally some suggestions are made for the further state owned enterprise reform.Basing on the theory on the modern corporation system,relevant experiences of market economy nations and the practice of Chinese enterprise system reform.The approaches to determine the proportion of state share in the future corporations are proposed.Since the public ownership is not ideologically appropriate,the establishment of social security fund and mutual fund investment companies are suggested as new and acceptable pattern of public ownership.It is believed that these companies will be the major institutional shareholders in the future corporations.Their stock equity structure would mainly consist of institutional shareholders,which will be both consistent with international norms of modern corporations and with socialist public ownership with Chinese characteristics.展开更多
While China will become a member of the World Trade Organization (WTO), the reform of state - owned enterprises (SOEs) is still in dilemma. This paper analyzes the main difficulties of SOEs’ reform in Jiangsu Provinc...While China will become a member of the World Trade Organization (WTO), the reform of state - owned enterprises (SOEs) is still in dilemma. This paper analyzes the main difficulties of SOEs’ reform in Jiangsu Province, and attributes them to the entrance of non - state - owned enterprises. Specifically, it includes the following reasons: (1)it is the inevitable results of the Chinese step - by - step reform, and the difficulties of SOEs’ are covered by the properity of non - SOEs. The factors market has become the most difficulties of the SOEs’ reform today. (2) it will not be useful if the economic reform only focuses the individual SOE. For China, the following problems must be solved as soon as possible: (1 ) the incentive mechanism; (2) the election mechanism on the top management; (3 ) the fair competitive environment, otherwise, the SOEs will not have competitive abililty in the international market after the entrance of WTO.展开更多
上一期谈到我国的汽车工业发展缓慢问题,原因应该说很多,考生可以随意发挥。比如你可以说:The biggest consumers of carsused to be the large state-owned companies andgovernment offices,but the situation haschanged drastically...上一期谈到我国的汽车工业发展缓慢问题,原因应该说很多,考生可以随意发挥。比如你可以说:The biggest consumers of carsused to be the large state-owned companies andgovernment offices,but the situation haschanged drastically with the economic reform inthe past decade.With the shift of consumptionfrom the collective to the individual.the autoindustry should aim its target at householdconsumers.当谈到价格问题时,不要只是一味地抱怨汽车价格高,那样不会有说服力,你可以采取对比或比较的方法。展开更多
Objective:To assess the private hospital development in China during 2005-2016 from a global perspective.Methods:We searched the English and Chinese literature in PubMed,CNKI and Google Scholar databases with the keyw...Objective:To assess the private hospital development in China during 2005-2016 from a global perspective.Methods:We searched the English and Chinese literature in PubMed,CNKI and Google Scholar databases with the keywords including“private hospitals in China”,“hospital ownership”,“public and private hospital”,“private hospital development”.Descriptive statistical analysis was used to assess the trend of the private hospital development in China and worldwide.Both the change of private hospitals in supply capacity and health care delivery were studied in this paper.The number of hospitals,number of hospital beds and the average number of hospital beds per hospital were employed to measure the supply capacity.The visit number,inpatients number,and bed occupancy rate(BOR)were used to measure the healthcare delivery.The data was collected from the China Health Statistical Yearbook and the“Organisation for Economic and Co-operation and Development(OECD)Statistics”website.Results:The private sector rapidly expanded in China’s hospital market in recent years.The number of private hospitals exceeded the public in 2015.There has also been a signi cant rise for the indicators of both the supply capacity(including number of hospitals,number of hospital beds and the average number of hospital beds per hospital)and the health care delivery(inpatients number and BOR)of the private hospitals.However,the growth rates of them were relatively lower than the public.The expansion trend of China’s private sector in the hospital market accorded with most the OECD countries around the world.In 2016,China was above the medium level of the share of the private hospitals’number with the OECD countries,but below the medium for the supply capacity,in terms of the hospital beds.Conclusion:As a result of the economic growth and supporting policy,the private sector has experienced a vast expansion in China’s hospital market in the past decade.The rising gap in average size between private and publicly owned hospitals,and the inconsistent development between the private hospitals’supply capacity and their market share,have become the two main challenges.Meanwhile,the future policy in supporting the private sector should be carefully introduced to advance the whole healthcare delivery system development in China.展开更多
China has the largest population in the world and has a huge medical needs.Research on China’s health workforce indicate that China encounter problems of shortages,imbalances and maldistribution in medical resources....China has the largest population in the world and has a huge medical needs.Research on China’s health workforce indicate that China encounter problems of shortages,imbalances and maldistribution in medical resources.Until 2014,China’s total health workforce are 10.2 million,of which licensed doctors are 2.4 million and licensed assistant doctors are 0.5 million(1).Most of these doctors are distributed in state-owned health institutions in relatively developed areas,working as civil servants,rather than independent medical professionals.Taking eye care as an example,there was only about 26 ophthalmologists per million population in China according to the latest domestic survey in 2016(2).And it is reported that cataract surgery rate in China is lagging behind.Only 1,425 people per million received cataract surgery in 2014,while about 5,000 people per million receive such surgery in India and 8,000 people in the US every year(3).Additionally,China has been suffering a high attrition rate among physicians and medical graduates over the past 10 years,going with low physician production,and rapid population growth(4).Based on its national conditions,China institute double reforms of its health-care systems and medical education.展开更多
In recent years,CNPC has firmly grasped the development trend and law of the digital economy,achieved a series of significant achievements in the construction of "Digital CNPC",and given full play to its vit...In recent years,CNPC has firmly grasped the development trend and law of the digital economy,achieved a series of significant achievements in the construction of "Digital CNPC",and given full play to its vital role as an important state-owned backbone enterprise in the new round of scientific and technological revolution and industrial transformation.展开更多
Background:When a privately owned firm or privatized government entity raises capital by selling its stocks for the first time to general public,is known as initial public offering(IPO).The underpricing phenomenon and...Background:When a privately owned firm or privatized government entity raises capital by selling its stocks for the first time to general public,is known as initial public offering(IPO).The underpricing phenomenon and ownership structure are important characteristics of IPO process that significantly affect the short-run and long-run performance of private firm and privitized entity.This study compares the short-and long-run performance,and factors affecting these performances for both private IPOs and privatized IPOs in Pakistan.It further investigates the relationship between capital structor and initial underpricing for both group of IPOs.Methods:Event study methodology is used to compares short-and long-run performance spanning from March 2000 to June 2015 of two categories of IPOs issued in the Karachi Stock Exchange(KSE).Multivariate regression analysis is applied to examine the factors that affect the short-run and long-run performance as well as for investigating the relationship betwen underpricing and ownership structure for both group of IPOs.Results:We find that both categories outperform in IPOs at which they are offered to investors on first day of trading,although differences in mean are insignificant.Over a five-year buy-and hold strategy,privatizing IPOs outperform and private IPOs underperform returns on the benchmark KSE 100 Stock Index.The results reveal that the size of the private firm or government entity,aftermarket risk of IPOs,and subscription ratio are significantly associated with the underpricing of IPO shares brought to market.First-day returns,market volatility and retained ownership are associated with higher five-year performance.We find that the concentration of ownership is similar,for both categories of IPOs;and significantly positive related to underpricing.The size of the firm/entity,aftermarket risk,return on assets and subscription ratio also affect ownership concentration.Conclusions:Same level of underpricing in both private and privatized IPOs reveals that Pakistan’s government is committed to its privatization policies as they developed capital markets by underpricing of IPOs.To make dispersion in ownership structure and to involve more small investors,the regulatory authorities such as Securities and Exchange Commission of Pakistan(SECP are required to take some steps to minimize concentration in ownership structure).There is a need of some specific range of underpricing by issuers and SECP.展开更多
文摘The AU＇s plan to introduce cabotage laws restricting the movements of foreign vessels in African coastal waters could be a major step toward the continent＇s economic independence
文摘At the turn of the year,major state-owned enterprises such as CNPC,Sinopec and CNOOC held their 2025 town hall meetings to review the past year's achievements,summarize experiences,identify gaps,plan new tasks,and set clear directions for efforts in the coming year.
文摘A briefing on policy was held by the State Council Information Office of China on February 20.At the briefing,Zhou Weijun,Director General of the Credit Supervision and Management Department,State Administration for Market Regulation(SAMR),expounded the policy on the participation of foreign-owned enterprises in the development and revision of standards for the large-scale equipment upgrade and consumer goods trade-in programs.
文摘As China's first wholly foreign-owned Grade III general hospital opens,it means more medical options–and a new attractive field for foreign investors.ON October 3,1990,the People’s Republic of China and Singapore established their diplomatic relations,and 2025 marks the 35th anniversary of the event.This makes it especially fitting that China’s first wholly foreign-owned grade III general hospital.
文摘In April 2022,then-President of Mexico Andrés Manuel López Obrador officially implemented the lithium resources nationalization law and established the state-owned enterprise LitioMx to oversee their exploration,extraction,and processing.His successor,Claudia Sheinbaum,reaffirmed this assertive resource governance policy in October 2024.As a direct consequence,the operations of the Chinese firm,Ganfeng Lithium in Mexico,experienced significant disruption.
文摘The governance of state-owned enterprises(SOEs)has long been central to political and institutional economic debates.Critics often associate SOEs with ine"ciency,rent-seeking and dogma,treating them as relics of command economies.Yet in many developmental states,they have been engines of industrialisation,technological progress and national resilience.China provides perhaps the most striking example.Its SOEs have survived and evolved,some becoming globally competitive multinationals in energy,infrastructure and telecommunications.
文摘Taking its advantages as a state-owned financial institution,the Bank of China Shanghai Branch has formulated the action plan for the high-quality development of AI,which includes ten aspects.First,it will invest no less than 100 billion yuan in the next five years to provide strong comprehensive financial support for various entities in Shanghai’s entire AI industry chain.
文摘Operating out of Shanghai,Brujas Textile Tech(Shanghai)Co.,Ltd.(“Brujas”)is a wholly owned subsidiary of Guangshan White Shark Card Clothing Co.,Ltd.(“White Shark”)tasked with providing international trade services to support its parent company's global operations.Whereas White Shark,as the parent company founded in 1962,is the manufacture facilities located in Xinyang,Henan Province.Brujas was founded in 1908 by the Brujas family in Terrassa,Spain.In 2008,White Shark integrated Brujas brand into its production and added European experience and knowledge that continues in the production today.This enables White Shark and Brujas to provide customers with the best,personalized carding solutions.White Shark and Brujas service 8700 clients in over 40 countries globally.The main products of the company include but not limited to:metallic card clothing,flat tops,stationary flat,circular comb,combing roller,cleaning fillet,raising fillet,flexible fillet etc.,and they are widely used in the areas of cotton spinning,non-woven materials,wool and linen spinning.
文摘This article explores how Cangzhou Refining&Chemical is advancing the development of a community of shared future between the enterprise and its employees,amidst the deepening reforms and high-quality development of state-owned enterprises and their“interaction”with new quality productive forces.By prioritizing employee care and support,the company enhances organizational efficiency,converting employee engagement into tangible productivity,and offers a practical model for other innovation initiatives.
基金Supported by innovation program for graduate students in Jiangsu Province of China(CXLX12_0434)
文摘This paper focused on the corrosion resistance of cold spray Al–Al_2O_3composite coatings used on carbon steel pipe surfaces under thermal insulation. Al–Al_2O_3coatings were produced on the carbon steel pipe surface by cold spray(CS) technology. Experimental apparatus was built to test the corrosion resistance of coatings beneath mineral wool insulation under isothermal, thermal cycling and wet/dry conditions. The results showed that when α-Al_2O_3 was added in spraying powder, the coating could obtain higher hardness and a denser microstructure. From corrosionunder-insulation(CUI) tests, Al–Al_2O_3CS coatings were proven to be efficient in protecting carbon steel pipe from CUI mainly owning to lamellar microstructures of coatings. There was no evidence to show that α-Al_2O_3 might bring any negative effect on corrosion resistance. Al–Al_2O_3CS coatings were sensitive to the chloride ion concentration. When these coatings were exposed to higher concentrations of NaC l, the coating's exhibited faster degradation.
基金Supported by National Natural Science Foundation of China(No.79770 0 63)
文摘In this paper,it is first briefly described the basic situation and current policies of state owned enterprise reform in China.Then the major issues in the reform process are identified,the possible solutions in terms of reengineering stock equity structure and state share circulation are discussed,and finally some suggestions are made for the further state owned enterprise reform.Basing on the theory on the modern corporation system,relevant experiences of market economy nations and the practice of Chinese enterprise system reform.The approaches to determine the proportion of state share in the future corporations are proposed.Since the public ownership is not ideologically appropriate,the establishment of social security fund and mutual fund investment companies are suggested as new and acceptable pattern of public ownership.It is believed that these companies will be the major institutional shareholders in the future corporations.Their stock equity structure would mainly consist of institutional shareholders,which will be both consistent with international norms of modern corporations and with socialist public ownership with Chinese characteristics.
文摘While China will become a member of the World Trade Organization (WTO), the reform of state - owned enterprises (SOEs) is still in dilemma. This paper analyzes the main difficulties of SOEs’ reform in Jiangsu Province, and attributes them to the entrance of non - state - owned enterprises. Specifically, it includes the following reasons: (1)it is the inevitable results of the Chinese step - by - step reform, and the difficulties of SOEs’ are covered by the properity of non - SOEs. The factors market has become the most difficulties of the SOEs’ reform today. (2) it will not be useful if the economic reform only focuses the individual SOE. For China, the following problems must be solved as soon as possible: (1 ) the incentive mechanism; (2) the election mechanism on the top management; (3 ) the fair competitive environment, otherwise, the SOEs will not have competitive abililty in the international market after the entrance of WTO.
文摘上一期谈到我国的汽车工业发展缓慢问题,原因应该说很多,考生可以随意发挥。比如你可以说:The biggest consumers of carsused to be the large state-owned companies andgovernment offices,but the situation haschanged drastically with the economic reform inthe past decade.With the shift of consumptionfrom the collective to the individual.the autoindustry should aim its target at householdconsumers.当谈到价格问题时,不要只是一味地抱怨汽车价格高,那样不会有说服力,你可以采取对比或比较的方法。
基金the National Natural Science Foundation of China(Grant No.71303165)Sichuan University(Grant No.2015SCU04A19 and 2018SCUH0027)China Medical Board(Grant No.17-276)for their financial support.
文摘Objective:To assess the private hospital development in China during 2005-2016 from a global perspective.Methods:We searched the English and Chinese literature in PubMed,CNKI and Google Scholar databases with the keywords including“private hospitals in China”,“hospital ownership”,“public and private hospital”,“private hospital development”.Descriptive statistical analysis was used to assess the trend of the private hospital development in China and worldwide.Both the change of private hospitals in supply capacity and health care delivery were studied in this paper.The number of hospitals,number of hospital beds and the average number of hospital beds per hospital were employed to measure the supply capacity.The visit number,inpatients number,and bed occupancy rate(BOR)were used to measure the healthcare delivery.The data was collected from the China Health Statistical Yearbook and the“Organisation for Economic and Co-operation and Development(OECD)Statistics”website.Results:The private sector rapidly expanded in China’s hospital market in recent years.The number of private hospitals exceeded the public in 2015.There has also been a signi cant rise for the indicators of both the supply capacity(including number of hospitals,number of hospital beds and the average number of hospital beds per hospital)and the health care delivery(inpatients number and BOR)of the private hospitals.However,the growth rates of them were relatively lower than the public.The expansion trend of China’s private sector in the hospital market accorded with most the OECD countries around the world.In 2016,China was above the medium level of the share of the private hospitals’number with the OECD countries,but below the medium for the supply capacity,in terms of the hospital beds.Conclusion:As a result of the economic growth and supporting policy,the private sector has experienced a vast expansion in China’s hospital market in the past decade.The rising gap in average size between private and publicly owned hospitals,and the inconsistent development between the private hospitals’supply capacity and their market share,have become the two main challenges.Meanwhile,the future policy in supporting the private sector should be carefully introduced to advance the whole healthcare delivery system development in China.
文摘China has the largest population in the world and has a huge medical needs.Research on China’s health workforce indicate that China encounter problems of shortages,imbalances and maldistribution in medical resources.Until 2014,China’s total health workforce are 10.2 million,of which licensed doctors are 2.4 million and licensed assistant doctors are 0.5 million(1).Most of these doctors are distributed in state-owned health institutions in relatively developed areas,working as civil servants,rather than independent medical professionals.Taking eye care as an example,there was only about 26 ophthalmologists per million population in China according to the latest domestic survey in 2016(2).And it is reported that cataract surgery rate in China is lagging behind.Only 1,425 people per million received cataract surgery in 2014,while about 5,000 people per million receive such surgery in India and 8,000 people in the US every year(3).Additionally,China has been suffering a high attrition rate among physicians and medical graduates over the past 10 years,going with low physician production,and rapid population growth(4).Based on its national conditions,China institute double reforms of its health-care systems and medical education.
文摘In recent years,CNPC has firmly grasped the development trend and law of the digital economy,achieved a series of significant achievements in the construction of "Digital CNPC",and given full play to its vital role as an important state-owned backbone enterprise in the new round of scientific and technological revolution and industrial transformation.
文摘Background:When a privately owned firm or privatized government entity raises capital by selling its stocks for the first time to general public,is known as initial public offering(IPO).The underpricing phenomenon and ownership structure are important characteristics of IPO process that significantly affect the short-run and long-run performance of private firm and privitized entity.This study compares the short-and long-run performance,and factors affecting these performances for both private IPOs and privatized IPOs in Pakistan.It further investigates the relationship between capital structor and initial underpricing for both group of IPOs.Methods:Event study methodology is used to compares short-and long-run performance spanning from March 2000 to June 2015 of two categories of IPOs issued in the Karachi Stock Exchange(KSE).Multivariate regression analysis is applied to examine the factors that affect the short-run and long-run performance as well as for investigating the relationship betwen underpricing and ownership structure for both group of IPOs.Results:We find that both categories outperform in IPOs at which they are offered to investors on first day of trading,although differences in mean are insignificant.Over a five-year buy-and hold strategy,privatizing IPOs outperform and private IPOs underperform returns on the benchmark KSE 100 Stock Index.The results reveal that the size of the private firm or government entity,aftermarket risk of IPOs,and subscription ratio are significantly associated with the underpricing of IPO shares brought to market.First-day returns,market volatility and retained ownership are associated with higher five-year performance.We find that the concentration of ownership is similar,for both categories of IPOs;and significantly positive related to underpricing.The size of the firm/entity,aftermarket risk,return on assets and subscription ratio also affect ownership concentration.Conclusions:Same level of underpricing in both private and privatized IPOs reveals that Pakistan’s government is committed to its privatization policies as they developed capital markets by underpricing of IPOs.To make dispersion in ownership structure and to involve more small investors,the regulatory authorities such as Securities and Exchange Commission of Pakistan(SECP are required to take some steps to minimize concentration in ownership structure).There is a need of some specific range of underpricing by issuers and SECP.
