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Diversification Strategies And Corporate Financial Distress: The Impact Of Monetary Tightening And Ipo Timing, Yingcen Zhang

Dissertations and Theses Collection (Open Access)

Diversification as a strategic objective has become increasingly pursued by many enterprises. However, whether diversification truly brings robust business operations and risk dispersion effects remains a focal point of attention in both academic and practical realms. This study, grounded in Chinese practice, empirically examines the relationship between corporate diversification and financial distress and further discusses the interactive impact of monetary policy tightening and diversification on corporate financial distress.

Empirical analysis results indicate a positive correlation between corporate diversification and financial distress in China. This finding suggests that diversification may not always confer the advantage of risk dispersion to enterprises; it …

Study On The Influence Of Confucianism And Corporate Governance Mechanism On Performance, Yujie Wu

Dissertations and Theses Collection (Open Access)

As the cornerstone of traditional Chinese culture, Confucianism profoundly influences Chinese enterprises' behaviour. This study empirically examines the impact of Confucianism and corporate governance mechanisms on companies' financial and social performance, yielding the following principal conclusions utilizing data from Chinese-listed companies:

Firstly, Confucianism significantly and positively influences corporate performance. Enterprises deeply rooted in Confucian culture often exhibit superior financial and social performance. This finding indicates the positive role of Confucianism in promoting responsible corporate behaviours and enhancing performance.

Secondly, the impact of corporate governance mechanisms on corporate performance is complex. An increase in institutional ownership correlates positively with corporate performance, …

Driving Forces Of Mining Outsourcing: Evidence From China, Bingxu Zheng

Dissertations and Theses Collection (Open Access)

The outsourcing of services by mining enterprises has become a significant global trend. Classic studies have demonstrated that outsourcing can help enterprises obtain professional services, improving productivity and reducing production costs. However, as a transitional economy, China has its unique characteristics regarding the driving forces of service outsourcing. By employing a case study method, one mining service outsourcing provider, and five mining enterprises' interviews and archival data, this study constructs a theory to identify the driving forces and mechanisms of mining enterprises' choice of service outsourcing and a logic relationship between variables via a diagram.

The case study results reveal …

Under What Circumstances Are Chinese Entrepreneurs Reluctant To Go Public, Ting Huang

Dissertations and Theses Collection (Open Access)

As secondary stock markets often overestimate corporate value, many Chinese entrepreneurs seek to achieve their wealth targets by going public. However, some companies in China do not want to go public. This paper utilises multi-case research methods to develop theories about which factors lead to corporate reluctance to go public. Case studies show that compared with entrepreneurs with lower shareholdings, entrepreneurs with higher shareholdings have stronger long-term orientations and a greater desire for control and are more reluctant to go public. Industry characteristics affect entrepreneurs’ long-term orientation, desire for control, and early listing experience, thus influencing their listing decision-making. Empirical …

Trust Building Within And Across Cultures: A Study Of Guinea, Xiushun Sun

Dissertations and Theses Collection (Open Access)

With the development of African economy and the increasing Chinese MNCs operating in Africa, there is a need to have a better understanding of the trust relationships between Chinese expatriates and African HCNs in the organizational environment. We adopt both qualitative and quantitative approaches to understand the trust relationships between Chinese supervisors, Guinea supervisors and Guinea subordinates in a Chinese MNC’s subsidiary in Guinea, compare the difference within culture and across culture, and examine how the interpersonal trust and the trust in the organization affect employees’ job performance. In study 1, semi-structured interviews were conducted with 19 Chinese supervisors, 20 …

Optimising Cold Chain Asset Locations With Real-Estate Considerations: A China Perspective, Chaik Ming Koh

Dissertations and Theses Collection (Open Access)

This thesis explores the logistics costs optimization of a cold chain logistics network with a real estate perspective. This study draws on data and experience of a cold chain player in China. This study seeks to help users who are currently renting large amounts of warehouse space to quantitatively and systematically evaluate if they should construct their own warehouses and then do a sale-and-leaseback to achieve economic benefits. Using a computing optimization model, the study was able to find the optimized parameters of warehouse capacity, warehouse quality to build as well as the recommended existing network warehouses to use, to …

Culture And Cyber Security: How Cultural Tightness-Looseness Moderates The Effects Of Threat And Coping Appraisals On Mobile Cyber Hygiene, Kok Wei Hoe

Dissertations and Theses Collection (Open Access)

With increasing adoption of smartphone for mobile-commerce and increasing incidents of cyber breaches, it is timely to investigate how the weakest link in this security chain, human, can be strengthened. To date, there has been a gap in research examining the impact of culture on protection motivation. Most extant research focus on technological, organizational and behavioral factors affecting protection motivation. In this study, I develop a model integrating Theory of Cultural Tightness-Looseness and Protective Motivation Theory to investigate how cultural norms, define as shared expectations and rules that guide behavior of people within social groups, affect a person’s intentions to …

Study On The Ideas For Developing M&A Funds In China In The Context Of Economic Transformation, Xiaoming Song

Dissertations and Theses Collection (Open Access)

M & A fund is one category of private equity investment fund. In the past 25 years, private equity fund has grown into a considerable asset section. Since 2008, China's economy has experienced the pounding pain of structural transformation multiplied with other challenges, e.g. international economy’s lack of growth momentum, increased trade friction, aging population and so on. The trade friction between China and the United States has further exacerbated. Against this backdrop, from September 2018, there was a significant shift in the domestic central government’s economic policy, particularly the capital market policy, has undergone major changes with the repressed …

The Importance Of Innovation And Entrepreneurship In China’S Social Transformation, Guo Jun Shen

Dissertations and Theses Collection (Open Access)

As world’s second largest economy, China has seen tremendous changes since its 1978 “open door and reform” policy. Different reformations in form of policies were planned and rolled out to release the potential of productivity. At the same time, social development also seen a huge progress. How the reformation been transformed to social development and in what degree? This is the question was answered in this dissertation. I studied four major reformations covering: State owned Enterprises (SoE), land, financial liberalization, and science and technology, and their impacts on the social development. At macro level, I identified mediation effects of entrepreneurship …

Risk Control System Construction Of China’S Equity Crowdfunding Platforms: A Comparative Study On The Differences Between Equity Crowdfunding And Traditional Venture Capital Investment, Wentao Bai

Dissertations and Theses Collection (Open Access)

Equity crowdfunding is a new type of public financing activity realized by Internet technology with small single investments funds, which is different from traditional venture capital. It greatly solves the equity investment problem of middle-class people and the difficulties of small and medium-sized enterprises and start-ups in financing. It is also conducive to the construction of multi-level capital market, and the healthy development of national financial system. Due to the advantages of equity crowdfunding, the global equity crowdfunding market has developed rapidly in recent years. Unfortunately, China's formal legislation on equity crowdfunding has not been introduced yet. Each platform can …

Urban Complex Value Study Based On Management Practice Of China Central Place, Chao Fang

Dissertations and Theses Collection (Open Access)

In recent years in China, with the rapid development of China’s economy, the acceleration of urbanization, the extension of city size and the rapid growth of urban population, living conditions, traffic and environment in the cities are getting worse and worse. Under this background, urban complex integrating a series of functions like “living, business, office, tourism, culture and entertainment etc” has become popular with the urban administrators and developers in many cities. According to relevant statistics, by the end of 2015, there had been more than 2000 urban complexes (including the ones which have been completed, the ones which are …

The Performance Of Venture Capital Funds And Vc-Backed Ipos: An Evidence From China, Weng Hong Lou

Dissertations and Theses Collection (Open Access)

This study is divided into three parts based on the listed companies on the Small and Medium Enterprise Board on the Shenzhen Stock Exchange in China. The first part is to study the investment performance of Venture Capital Funds. I found that the investment return in terms of investment multiple and annual rate of return is better than those in the US market, and also the VC investment portfolios outperform the public equity market. Furthermore, I compare the performance of non VC-backed IPOs and non VC-backed IPOs by using the Buy-and Hold Abnormal Return and Wealth Relatives. Both measurements show …

The Effects Of Patent Characteristics As Signals On The Growth Of Follow-On Innovations: Evidence From Chinese Patenting Activities In U.S, Wenxin Guo

Dissertations and Theses Collection (Open Access)

As global trade and business activities intensified, cross-national patenting activities have been playing an increasingly important role in the process of innovation accumulation and growth. However, few studies (to my knowledge) have examined the characteristics of cross-national patents and their relationship to the accumulation and growth of innovation, especially in the context of a developing versus a developed country.
Motivated by the anecdotal evidence and `Patent Signaling Theory'(Spence, 1973), I investigate the possible influential factors on the `quality' of a US patent with a Chinese priority (thereafter `US-CN' patent) and their impact on the growth of follow-on innovation. By developing …

Has The Introduction Of Bookbuilding Increased The Efficiency Of China's Ipo Pricing?, Jiehui Fei

Dissertations and Theses Collection (Open Access)

Book-building is commonly adopted in global primary markets and regarded as the most efficient pricing method for accurate IPO pricing by literatures. China has introduced book-building in 2005 to increase IPO pricing accuracy and the capabilities of domestic institutional investors. However, with the current IPO data from China, I find the level of under-pricing has unexpectedly increased after book-building, which is against the empirical studies of a few domestic papers. Secondly, there's some evidence that with better information disclosure from issuer-side through book-building process, the signaling and ex-ante uncertainty effect that previously caused under-pricing has been reduced. But there're unique …