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Full-Text Articles in Business
Impact Of Culture On ‘Partner Selection Criteria’ In East Asian International Joint Ventures, Ravinder K. Zutshi, Wee Liang Tan
Impact Of Culture On ‘Partner Selection Criteria’ In East Asian International Joint Ventures, Ravinder K. Zutshi, Wee Liang Tan
Research Collection Lee Kong Chian School Of Business
Selecting the right partner is important for the success of alliances and joint ventures. For international joint ventures (IJVs) from diverse cultures the partner selection process can become complicated. Prior studies have investigated the alliances and joint ventures to develop a set of objective criteria for evaluating potential partners. This paper reports the study of IJVs formed by Singapore firms in Peoples Republic of China and India. The intent was to develop a methodology for identifying partner selection criteria in a cross-cultural setting. The findings reveal that the partner selection process follows a different logic in Confucian societies. Trust has …
A Re-Examination Of China's Share Issue Privatization, Guohua Jiang, Heng Yue, Longkai Zhao
A Re-Examination Of China's Share Issue Privatization, Guohua Jiang, Heng Yue, Longkai Zhao
Research Collection School Of Accountancy
Previous studies show that in contrast to evidence that share issue privatization (SIP) in most other countries have improved firm profitability, China's SIP of the 1990s had no such effect. We argue that the main reason for the failure of China's SIP is likely to have been the weak institutional environment in place at that time. We examine China's SIP in a more recent period in which the institutional environment was greatly improved. Using a matching sample method, we find that SIP firms continued to experience negative post-SIP profitability changes in our sample period. However, their performance decline was significantly …
Ceo Pay-Performance And Board Independence: The Impact Of Earnings Management In China, Yuqing Zhu, Gary G. Tian
Ceo Pay-Performance And Board Independence: The Impact Of Earnings Management In China, Yuqing Zhu, Gary G. Tian
Faculty of Commerce - Papers (Archive)
This paper examines the impact of board characteristics and CEO compensation on firm performance when firm performance is adjusted for the effect of earnings management. Results from regression analysis indicates that the CEO pay-performance relation is substantially lower when firm performance is adjusted for the effect of earnings management than when firm performance is measured as reported performance. That is, the positive effect of executive compensation on firm performance disappears when firm performance is measured as adjusted firm performance excluding earnings management in Chinese listed firms, and as a result, we can identify that the evident executive pay-performance relation is …
Corporate Tax, Capital Structure, And The Accessibility Of Bank Loans: Evidence From China, Liansheng Wu, Heng Yue
Corporate Tax, Capital Structure, And The Accessibility Of Bank Loans: Evidence From China, Liansheng Wu, Heng Yue
Research Collection School Of Accountancy
In this paper, we investigate whether listed firms in China adjust their capital structure in response to an increase in the corporate taxrate. Although theories of capital structure suggest that corporate tax is an important determinant of capital structure, how exogenouschanges of the tax rate affect firms’ leverage decisions has not been fully explored. We examine a unique circumstance in which the Chinesegovernment increased the corporate tax rate of firms that had previously received local government tax rebates. The evidence indicatesthat these firms increased their leverage when the corporate tax rate increased. Further investigation suggests that the adjustment ofleverage was …
Organizational Justice And Fairness In China: An Inductive Analysis Of The Meaning And Dimensions, Chun (Grace) Guo, Jane K. Giacobbe-Miller
Organizational Justice And Fairness In China: An Inductive Analysis Of The Meaning And Dimensions, Chun (Grace) Guo, Jane K. Giacobbe-Miller
WCBT Faculty Publications
Taking an inductive approach, we examined the meaning and dimensionality of the organizational justice construct in the People's Republic of China. By triangulating qualitative data from in-depth interviews and structured open-ended surveys, we found that organizational justice and organizational fairness were perceived as distinct constructs in a Chinese context.
Executive Compensation, Board Characteristics And Firm Performance In China: The Impact Of Compensation Committee, Yuqing Zhu, Gary G. Tian, Shiguang Ma
Executive Compensation, Board Characteristics And Firm Performance In China: The Impact Of Compensation Committee, Yuqing Zhu, Gary G. Tian, Shiguang Ma
Faculty of Commerce - Papers (Archive)
The independent directors of a board can impact CEO payperformancemore effectively if a compensation committeeprovides information and assist them in designing relevantexecutive pay schemes. On the basis of this idea, we developed andtested the hypotheses that Chinese firms with a compensationcommittee have a closer CEO pay link with performance when alarger proportion of independent directors serves on the board. Wefocused primarily on the effect of a compensation committee onCEO pay-performance relation as a consequence of its help for theboard and found that board independence produces a strongerrelationship between executive compensation and firmperformance in Chinese listed firms. This association is more …
Managerial Compensation, Ownership Structure And Firm Performance In China's Listed Firms, Xiaofei Pan, Gary G. Tian, Shiguang Ma, Aelee Jun, Qingliang Tang
Managerial Compensation, Ownership Structure And Firm Performance In China's Listed Firms, Xiaofei Pan, Gary G. Tian, Shiguang Ma, Aelee Jun, Qingliang Tang
Faculty of Commerce - Papers (Archive)
This paper investigates managerial compensation and its relationship with firm performance in China's listed firms. In China, the largest shareholder dominates other shareholders, controls the firm and therefore exercises substantial impacts on manager compensation. After controlling for other firm and industry characteristics, we find that manager remuneration is greater and pay-performance relation is stronger for privately-controlled firms than for state-controlled firms. We also document that state-controlled firms exercise performance-based manager incentive schemes, which is contrary to evidence found in some earlier studies. Our results also indicate that top executives in firms with a foreign ownership are more highly compensated, relative …