Hong Kong Studies

Equity crowdfunding is a relatively new investment format that allows investors to purchase unlisted securities from a company that does not meet listing requirements for an initial public offering. Equity crowdfunding offers investment rewards but also has risks of fraud, herding, insolvency and dilution of shareholder equity. Regulation is a natural response to negative externalities like systemic risk caused by asymmetric information, adverse selection and lemon problems. While the US and the UK have extensive crowdfunding regulations, Hong Kong does not, although crowdfunding is not specifically banned under the Securities and Futures Ordinance. This article focuses on the current state of equity crowdfunding in Hong Kong but draws inspiration from legal requirements for equity crowdfunding in the US, the UK and Singapore, as well as the Korea Startup Market in South Korea. The author makes regulatory suggestions for consideration by Hong Kong's law-makers and policy-makers....

Purpose The purpose of this study is to discuss the latest developments of anti-money laundering (AML) laws in terms of case law and intended legislation amendments. Design/methodology/approach In terms of AML case law, the authors analyze three judgments from the Hong Kong Court of Final Appeal. In terms of the intended legislation amendments, the authors outline salient points from the two amendment bills submitted to the Legislative Council of Hong Kong. Findings With the developments in AML case law and the intended legislation amendments, Hong Kong is expected to have a positive result in the Financial Action Task Force Mutual Evaluation in October/November 2018. Originality/value A robust AML/counter-terrorist financing regime is the bedrock of Hong Kong’s reputable status as an international financial center. This paper seeks to illicit meaningful interactions amongst all stakeholders.

This study explores how knowledge creation and sharing practices are fostered in a sample of small- and medium-sized enterprises (SMEs) in Hong Kong. Our analysis indicates that three types of managerial interventions - initiating intervention, reinforcing intervention and aligning intervention - are particularly useful to promote knowledge management activities among employees. Such findings provide insights into researchers and managers on the important role of managerial interventions in knowledge management (KM) as well as the idiosyncrasies of KM in SMEs in Chinese societies.
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