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Full-Text Articles in Social and Behavioral Sciences
Financial Reporting Quality Of Chinese Reverse Merger Firms: The Reverse Merger Effect Or The China Effect?, Kun-Chih Chen, Qiang Cheng, Ying Chou Lin, Yu-Chen Lin, Xing Xiao
Financial Reporting Quality Of Chinese Reverse Merger Firms: The Reverse Merger Effect Or The China Effect?, Kun-Chih Chen, Qiang Cheng, Ying Chou Lin, Yu-Chen Lin, Xing Xiao
Research Collection School Of Accountancy
In this paper, we examine why Chinese reverse merger (RM) firms have lower financial reporting quality. We find that while U.S. RM firms have similar financial reporting quality as matched U.S. IPO firms, Chinese RM firms exhibit lower financial reporting quality than Chinese ADR firms. We further find that Chinese RM firms exhibit lower financial reporting quality than U.S. RM firms. These results indicate that the use of RM process is associated with poor financial reporting quality only in firms from China, where the legal enforcement is weaker than U.S. In addition, we find that compared to Chinese ADR firms, …
From The Outside In: China’S Dragons Are Here, Singapore Management University
From The Outside In: China’S Dragons Are Here, Singapore Management University
Perspectives@SMU
Like a blockbuster movie 20 years in the making, China’s dragons have evolved to push the boundaries of global competition. Accelerated innovation is the new frontier of global competition and it’s a space where China’s go-global companies are excelling.
Social Work: A New Phenomenon In China, Singapore Management University
Social Work: A New Phenomenon In China, Singapore Management University
Perspectives@SMU
Social tensions are bubbling in China. Are social workers the way to maintain social stability?
Stock Liquidity And The Pricing Of Earnings: A Comparison Of China’S Floating And Non-Floating Shares, Lou Fang, Jiwei Wang, Hongqi Yuan
Stock Liquidity And The Pricing Of Earnings: A Comparison Of China’S Floating And Non-Floating Shares, Lou Fang, Jiwei Wang, Hongqi Yuan
Research Collection School Of Accountancy
The reform to convert non-floating shares to floating in China provides a setting in which shares are subject to different liquidity constraint. We show that the severity of this constraint is inversely related to the extent to which earnings information is reflected in the share prices. Specifically, before the reform, the transfer prices of non-floating shares reflect much less earnings information than the market prices of floating shares. After the reform, however, both types of transfer reflect more earnings information, although the weights are still less than that found in the market prices. Thus, China's unique setting shows that share …
Asean: Integration, Internal Dynamics And External Relations, Clara Portela
Asean: Integration, Internal Dynamics And External Relations, Clara Portela
Research Collection School of Social Sciences
Throughout its evolution, ASEAN has consistently maintained its attachment to the full respect of national sovereignty and the principle of non-interference in internal affairs, which translates into consensual decision-making, political rather than legally-binding agreements and the lack of sanctions for non-compliance. A major breakthrough in terms of institutionalisation came about with the signing of the ASEAN Charter of 2007, which has enhanced ASEAN’s standing as a rule-based organisation and approximated it somewhat to structures typical of the EU. Unfortunately, the persistence of consensual decision-making and non-confrontational habits has slowed down some of ASEAN’s integration projects and hindered the development of …
Is The Renminbi East Asia’S Dominant Reference Currency? A Reconsideration, Hwee Kwan Chow
Is The Renminbi East Asia’S Dominant Reference Currency? A Reconsideration, Hwee Kwan Chow
Research Collection School Of Economics
Recent empirical studies show that the Chinese currency renminbi is either becoming or has become a dominant reference currency in East Asia. This paper reviews the evidence with daily exchange rate data from seven East Asian economies namely, Indonesia, Korea, Malaysia, the Philippines, Singapore, Thailand and Taiwan. We consider the likely problems and pitfalls associated with the application of Frankel-Wei regressions to determine the weights of the US dollar and the renminbi in the implicit currency baskets. We show empirically the estimation of currency weights using non-orthogonalised renminbi movements could suffer from imprecision and/or inconsistency. To circumvent the simultaneity bias …
We Are The Champions, Nirmalya Kumar, Jan-Benedict E. M. Steenkamp
We Are The Champions, Nirmalya Kumar, Jan-Benedict E. M. Steenkamp
Research Collection Lee Kong Chian School Of Business
From China Mobile to Coal India, state-supported firms are on the march. The authors map out the route from being a national champion to becoming a global brand.
Social Capital, Informal Governance, And Post-Ipo Firm Performance: A Study Of Chinese Entrepreneurial Firms, Jerry X. Cao, Yuan Ding, Hua Zhang
Social Capital, Informal Governance, And Post-Ipo Firm Performance: A Study Of Chinese Entrepreneurial Firms, Jerry X. Cao, Yuan Ding, Hua Zhang
Research Collection Lee Kong Chian School Of Business
This paper explores the links between entrepreneurs' social capital and post-IPO firm performance in China's unique capital market and regulatory setting. Using hand-collected data on entrepreneurs' political connections and firm financial information, we construct original measures for various types of social capital and examine their roles in determining the accounting and financial performance of entrepreneurial firms after an IPO. On one hand, firm accounting performance is enhanced by entrepreneurs' bridging social capital, such as political connections or a willingness to share power with external investors. On the other hand, bonding social capital such as intra-group related party transactions causes performance …
The Transformation Of Urban Vegetable Retail In China: Wet Markets, Supermarkets, And Informal Markets In Shanghai, Qian Forrest Zhang, Zi Pan
The Transformation Of Urban Vegetable Retail In China: Wet Markets, Supermarkets, And Informal Markets In Shanghai, Qian Forrest Zhang, Zi Pan
Research Collection School of Social Sciences
The state-monopolised system of vegetable retail in socialist urban China has transformed into a market-based system run by profit-driven actors. Publicly owned wet markets not only declined in number after the state relegated its construction to market forces, but were also thoroughly privatised, becoming venues of capital accumulation for the market operators now controlling these properties. Self-employed migrant families replaced salaried state employees in the labour force. Governments’ increased control over urban public space reduced the room for informal markets, exacerbating the scarcity of vegetable retail space. Fragmentation in the production and wholesale systems restricted modern supermarkets’ ability to establish …
Reassessing Apec's Role As A Trans-Regional Economic Architecture: Legal And Policy Dimensions, Pasha L. Hsieh
Reassessing Apec's Role As A Trans-Regional Economic Architecture: Legal And Policy Dimensions, Pasha L. Hsieh
Research Collection Yong Pung How School Of Law
This article examines the two-decade evolution of the Asia-Pacific Economic Cooperation (APEC) and the future prospects for Asian regionalism. It argues that while APEC retains advantages over competing regional structures, it should undergo reforms to accelerate the Bogor Goals and ensure its complementarity with the World Trade Organization (WTO). The article first analyzes the impact of stake-holding countries’ trade policies on APEC’s structure and development. By assessing APEC’s soft-law mechanism, it explores APEC’s WTO-plus contributions that reinvigorated the International Technology Agreement negotiations and improved supply chain facilitation. APEC’s goal of creating a Free Trade Area of the Asia-Pacific (FTAAP) can …
China’S Agrarian Reform And The Privatization Of Land: A Contrarian View, Qian Forrest Zhang, John A. Donaldson
China’S Agrarian Reform And The Privatization Of Land: A Contrarian View, Qian Forrest Zhang, John A. Donaldson
Research Collection School of Social Sciences
Many media and scholars outside China are advocating for the privatization of land ownership in China, claiming it to be a necessary step before China can transform its agriculture into large-scale, market-oriented and technology-intensive modern agriculture. Chinese scholars advocating land privatization, on the other hand, typically argue that land privatization would offer farmers more protection of their rights. In this paper, we present a contrarian view to these calls for land privatization published in both mainstream media and academic journals. We argue that, under China’s current system of collective land ownership and individualized land use rights, the aforementioned goals can …
Criminal Liability For Vessel-Source Pollution In China: Law And Practice, Nengye Liu
Criminal Liability For Vessel-Source Pollution In China: Law And Practice, Nengye Liu
Research Collection Yong Pung How School Of Law
This article addresses criminal liability for vessel-source pollution in China. It describes relevant Chinese legislation regarding criminal liability for vessel-source pollution, analyses why a criminal case pertaining to vessel-source pollution has yet to be brought in Chinese courts and presents suggestions on how to improve the current regime.
Comparing Local Models Of Agrarian Transition In China, Qian Forrest Zhang
Comparing Local Models Of Agrarian Transition In China, Qian Forrest Zhang
Research Collection School of Social Sciences
The development of markets and the penetration of capital into agriculture have started the agrarian transition in rural China, which is transforming smallholding, household-based agriculture into various forms of capitalistic production. This again raises in a new historical and social context the long-debated question in the agrarian transition literature: Can family farms survive the onslaught of capitalist agriculture based on wage labor and what shapes the confrontation between family farms and agro-capital? I argue that it is the local political economy—rather than some natural obstacles in agriculture to the penetration of capitalism—that shapes this confrontation and gives rise to a …