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Abstract:This paper explores the transnationalism seen among Chicago's Chinese migrants in tandem with their Americanization in the late 19th century. While migrants' transnationalism has several dimensions, the focus of this paper has been placed on their political practices, so‐called "long‐distance nationalism." Previous studies on migrants' transnationalism tended to assume marginalization in and a failure to assimilate into a host society as a reason for migrants' maintaining their ties to their countries of origin. A historical study of the migrants, however, showed another picture: transnationalism and assimilation processes could be reconciled. In order to explain how this is possible, this paper provides in the first part a background on the Chinese enclave in Chicago. Here the paper illustrates how seriously divided the Chinese community was over the difference of clan. The second part is divided into three sections and shows the process by which migrants became politically transnational. First, it deals with the emerging "Chinese" consciousness of migrants, elaborating on how such an inclusive awareness began to appear while they mobilized into a movement demanding naturalization and citizenship rights. In the course of such a movement, they promoted the Americanization of Chinese migrants. Second, how such processes, that is, the emergence of "Chinese" consciousness and assimilation proceeded at the same time is explained. Third, the paper shows how and when Chinese Chicagoans became politically involved in homeland politics. Throughout the paper, the idea of transnationalism is considered in relation to assimilation.

The focus of this research paper is on the debt ownership choice of UK property companies. The data show that bank borrowings constitute more than half of the total outstanding debt of the quoted property sector, testifying to the widespread use of bank debt among property companies. We carried out four censored regressions to identify key factors influencing the firms' decision to use bank loans instead of other types of debt. The results reveal that firm size and credit risk are significant determinants of the bank debt ratio of property companies. We also observe that institutional ownership has a strong positive effect on bank debt reliance. This finding suggests that institutional investors in property companies delegate the monitoring of the firm's actions to the banks. We also find a weakly positive relationship between interest rate and bank debt ratio. The regression results further suggest that property market cycle, volatility of interest rates, and the firm's leverage, growth opportunity, trading activities and age do not have any significant effect on the debt ownership choice.

Employing the panel data methodology, we examine the capital structure determinants of 83 property companies quoted in the UK. The empirical test reveals how the debt‐equity structure of the companies is influenced by the various firm‐specific attributes and macro‐economic factors. In particular, the evidence shows that asset structure, business orientation, and the level of involvement in property development are significant determinants of the corporate debt policy of property companies. Financial distress consideration also has a significant influence. In addition, the empirical evidence shows that corporate property managers take into consideration the prevailing market sentiment and borrowing costs when making the debt‐equity choice. Corporate performance and tax burden, however, do not appear to have any significant effect on the capital structure decision of property companies.