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Full-Text Articles in Business
Rule Violation And Time-To-Enforcement In Weak Institutional Environments: A Good Faith Perspective, Jun Xia, Yusi Jiang, Heli Wang, Yuan Li
Rule Violation And Time-To-Enforcement In Weak Institutional Environments: A Good Faith Perspective, Jun Xia, Yusi Jiang, Heli Wang, Yuan Li
Research Collection Lee Kong Chian School Of Business
Previous studies on corporate misconduct have focused mainly on preventing misconduct or remedying it after detection, but it remains unclear how misconduct can be effectively detected in the first place once it occurs. We apply the good faith perspective in the context of China, which represents a weak institutional environment, and argue that the ability of culpable leaders to conceal information may delay misconduct disclosure because such ability helps maintain the good faith of regulators. Moreover, we argue that because the regulators have faith in professionals (external auditors, institutional investors, and securities analysts) whose skills are in fact often underdeveloped …
Local Political Corruption And M&As, Chun Liu, Yang Chen, Shanmin Li, Liang Sun, Mengjie Yang
Local Political Corruption And M&As, Chun Liu, Yang Chen, Shanmin Li, Liang Sun, Mengjie Yang
Research Collection School Of Accountancy
We examine the relation between local political corruption and firms' cross-province M&As using provincial-level data on corruption in China. The results show that firms in more corrupt regions are less likely to engage in cross-province M&As. Further analyses reveal that the effects of local corruption on the probability of cross-province M&As are stronger when corrupt officers have greater impeding benefits or lower impeding costs. Meanwhile, Both ex-ante intervention and ex post punishment are important channels through which corrupt officers hinder firms' cross province M&As. Moreover, informal institutions, such as social capital and informal networks can help to alleviate the negative …
Solving The Puzzle Of Corporate Governance Of State-Owned Enterprises: The Path Of Temasek Model In Singapore And Lessons For China, Christopher C. H. Chen
Solving The Puzzle Of Corporate Governance Of State-Owned Enterprises: The Path Of Temasek Model In Singapore And Lessons For China, Christopher C. H. Chen
Research Collection Yong Pung How School Of Law
The purpose of this Article is to examine the corporate governance of state-owned enterprises (SOEs) in the Asian context by empirically surveying the influence of Temasek Holdings, Singapore’s sovereign wealth fund, on its portfolio of government-linked companies in Singapore. Overall, the Temasek model seems to be a promising one. This Article shows that the top listed government-linked companies in which Temasek has a stake have greater board independence than the other top listed companies in Singapore. This illustrates that a high quality of corporate governance could be aligned with public interests associated with SOEs. While this research offers hope for …
Contrasting Perspectives On China's Rare Earths Policies: Reframing The Debate Through A Stakeholder Lens, Leslie Hayes-Labruto, Simon J.D. Schillebeeckx, Mark Workman, Nilay Shah
Contrasting Perspectives On China's Rare Earths Policies: Reframing The Debate Through A Stakeholder Lens, Leslie Hayes-Labruto, Simon J.D. Schillebeeckx, Mark Workman, Nilay Shah
Research Collection Lee Kong Chian School Of Business
This article critically compares China's rare earth policy with perspectives upheld in the rest of the world (ROW). We introduce rare earth elements and their importance for energy and present how China and the ROW are framing the policy debate. We find strongly dissonant views with regards to motives for foreign direct investment, China's two-tiered pricing structure and its questionable innovation potential. Using the metaphor of "China Inc.", we compare the Chinese government to a socially responsible corporation that aims to balance the needs of its internal stakeholders with the demands from a resource-dependent world. We find that China's internal …
Examining The Chinese Approach To Crisis Management: Cover-Ups, Saving Face, And Taking The “Upper Level Line”, Lan Ye, Augustine Pang
Examining The Chinese Approach To Crisis Management: Cover-Ups, Saving Face, And Taking The “Upper Level Line”, Lan Ye, Augustine Pang
Research Collection Lee Kong Chian School Of Business
In 2008, the Sanlu Group, a former giant in the Chinese dairy industry and a quintessential Chinese organization, was confronted with the melamine-contaminated milk crisis. Its products were blamed for causing at least six babies' deaths and damaging the kidneys of about 294,000 babies. Sanlu was criticized for its crisis handling, which resulted in its collapse several months later. Using the contingency theory of strategic conflict management and Coombs' typology of crisis communication strategies, this study explored Sanlu's crisis management as a mirror to understanding the Chinese approach to crisis management. Findings showed that influenced by political, social, and cultural …