Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 18 of 18
Full-Text Articles in Business
Media-Induced Voluntourism In Yunnan, China, Jun Shao, Michelle Scarpino, Yoonjung Lee, Ulrike Gretzel
Media-Induced Voluntourism In Yunnan, China, Jun Shao, Michelle Scarpino, Yoonjung Lee, Ulrike Gretzel
Faculty of Commerce - Papers (Archive)
Media-induced tourism as well as voluntourism are topics increasingly investigated in the tourism literature. However, a discussion of the intersection of these two forms of tourism (i.e., mediainduced voluntourism) is currently missing from the literature. Using the example of two Chinese TV dramas, this article seeks to shed light on motivations and activities of media-induced voluntourists to the Chinese province of Yunnan. Based on a thematic analysis of online postings of the fans of these Chinese TV dramas, the article finds empirical evidence for media-induced voluntourism. The findings reveal that fans travel to Yunnan not only to engage in altruistic …
Do Neighbourhoods Have Effects On Wages? A Study Of Migrant Workers In Urban China, Zhiming Cheng, Haining Wang
Do Neighbourhoods Have Effects On Wages? A Study Of Migrant Workers In Urban China, Zhiming Cheng, Haining Wang
Faculty of Commerce - Papers (Archive)
Rural-to-urban migrant workers have contributed enormously to the Chinese economy and society in the past three decades. Many of them have concentrated in disadvantaged neighbourhoods and physically and socially suffered from poor residential environment. However it is unclear how the neighbourhoods-as the provision of shelter, social and public service, and community organizing-influence migrant workers' labour market outcomes. To fill this gap, this paper researches the way in which urban neighbourhoods have affected migrant workers' wages. Factors such as housing quality, social interaction and trust, and neighbourhood organization and participation were examined. Results show that five of eight neighbourhood characteristics had …
Layoffs And Urban Poverty In The State-Owned Enterprise Communities In Shaanxi Province, China, Zhiming Cheng
Layoffs And Urban Poverty In The State-Owned Enterprise Communities In Shaanxi Province, China, Zhiming Cheng
Faculty of Commerce - Papers (Archive)
This paper applies a mixed methods approach that combines qualitative and quantitative methods to examine urban poverty in China’s state-owned enterprise communities where laid-off workers concentrate. A sequential explanatory model using interviews, Participatory Poverty Assessments and community household survey on textile and military industries in Shaanxi Province of northwestern China shows that low-income households suffered multidimensional disadvantages. Qualitative techniques have helped to reveal the hidden aspects of poverty while statistical tools have captured holistic information on the communities. These approaches together (Q-squared) consider both the outsiders’ and insiders’ views on the laid-off poor and benefit the making of effective anti-poverty …
Venture Capital And Executive Incentives In China, Jerry Cao, Qigui Liu, Gary G. Tian
Venture Capital And Executive Incentives In China, Jerry Cao, Qigui Liu, Gary G. Tian
Faculty of Commerce - Papers (Archive)
This paper examines the effect that venture capital (VC) has on the pay-performancerelationship in listed Chinese firms. We find that VC has a significantly positive effect onCEO compensation and the pay-performance relationship, such effect particularly stronger infirms needing more managerial efforts and discretions (higher growth opportunity or higherlevels of capital expenditure). In addition, we show that VC-backed firms with moremanagerial discretions are more likely to use stock options. The evidence suggests thatventure capital investors use more sensitive compensation contract for top executives inChinese when the need for managerial discretion is greater. Such compensation schemes byVCs enhance firm performance subsequently.
Disproportional Ownership Structure And Pay–Performance Relationship: Evidence From China's Listed Firms, Jerry Cao, Xiaofei Pan, Gary Tian
Disproportional Ownership Structure And Pay–Performance Relationship: Evidence From China's Listed Firms, Jerry Cao, Xiaofei Pan, Gary Tian
Faculty of Commerce - Papers (Archive)
This paper examines the impact of ownership structure on executive compensation in China's listed firms. We find that the cash flow rights of ultimate controlling shareholders have a positive effect on the pay–performance relationship, while a divergence between control rights and cash flow rights has a significantly negative effect on the pay–performance relationship. We divide our sample based on ultimate controlling shareholders' type into state owned enterprises (SOE), state assets management bureaus (SAMB), and privately controlled firms. We find that in SOE controlled firms cash flow rights have a significant impact on accounting based pay–performance relationship. In privately controlled firms, …
Disproportional Ownership Structure And Pay-Performance Relationship: Evidence From China's Listed Firms, Jerry Cao, Xiaofei Pan, Gary G. Tian
Disproportional Ownership Structure And Pay-Performance Relationship: Evidence From China's Listed Firms, Jerry Cao, Xiaofei Pan, Gary G. Tian
Faculty of Commerce - Papers (Archive)
This paper examines the impact of disproportional ownership structure on the pay-performance relationship in China’s listed firms. We find that the cash flow rights of the ultimate controlling shareholder have a positive effect on this relationship while a divergence between the control rights and cash flow rights has a significantly negative effect. By dividing our sample into state owned enterprises (SOE), state assets management bureaus (SAMB), and privately controlled firms, we find that cash flow rights in SOE controlled firms have a significant impact on accounting based pay performance and cash flow rights in privately controlled firms also affect the …
How Does The Separation Of Ownership And Control Affect Corporate Performance: The Impact Of Earnings Management In China, Yuqing Zhu, Gary G. Tian, Shan Zhao
How Does The Separation Of Ownership And Control Affect Corporate Performance: The Impact Of Earnings Management In China, Yuqing Zhu, Gary G. Tian, Shan Zhao
Faculty of Commerce - Papers (Archive)
This paper examines the impact of disproportional ownership on true firm performance when firm performance is adjusted for the effect of earnings management. Results from regression analysis indicate that the separation between control and cash flow rights of family/or individual-controlled listed firms in China decreases firm performance when firm performance is adjusted for the effect of earnings management than when firm performance is measured as reported performance. The results also show that separation is significantly positively related with true firm performance in firms with low cash flow rights concentration. The main disproportional ownership mechanism, pyramidal structures is also investigated in …
Fair Value Accounting In China: Neoliberalisation And Accounting Change, Ying Zhang, Jane L. Andrew, Kathleen M. Rudkin
Fair Value Accounting In China: Neoliberalisation And Accounting Change, Ying Zhang, Jane L. Andrew, Kathleen M. Rudkin
Faculty of Commerce - Papers (Archive)
This paper explores the tension between neoliberal theory and practice by using China as an example. This paper investigates the implementation of Fair Value Accounting (FVA) in China and argues that market share prices are not ‘fair values’ of companies’ financial position as theories of FVA assume, rather, they project only the distorted share price movements caused by the strong intervention of the Chinese government with its multiple and often competing agendas. By positioning this regional event in a broad neoliberal context, this paper argues that the accounting term ‘fair value’ is imbued with assumptions about the state and the …
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 …
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 …
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 …
Approaches And Perspectives In The Studies Of China's Urban Poverty, Zhiming Cheng
Approaches And Perspectives In The Studies Of China's Urban Poverty, Zhiming Cheng
Faculty of Commerce - Papers (Archive)
The paper reviews some research on urban poverty in China. This topic began to attract academic attention in mid- 1990s. In the marketization, the old socialist system in China, which included full employment and comprehensive social welfare for urban citizens, has been replaced by an emerging labor market and a socialized and partially privatized social security. The time lag between the old and establishing systems has thrown a large number of retrenched state workers and migrant workers into poverty and then concentrated the poor in particular areas or communities of city. There is impressive progress on identifying and measuring poverty, …
The Development Of Private Businesses In China, Guibin Zhang, Zhong Qin
The Development Of Private Businesses In China, Guibin Zhang, Zhong Qin
Faculty of Commerce - Papers (Archive)
China’s economic development since 1978 has been fuelled largely by a new private sector that has depended on entrepreneurship. In 1978 the private sector virtually did not exist. In 2005 it was estimated that about one-quarter of gross domestic product (GDP) was produced by the domestic private sector. However, the academic discourse on China’s private sector is lagging behind the sector’s actual development. Before the market reforms introduced by Deng Xiaoping in 1978, China relied on state entrepreneurship. When the model of state entrepreneurship began to run out of energy, the Chinese Communist Party (CCP) turned to private entrepreneurship as …
Why Are The First Day Returns Of China’S Ipos So High?, S. Ma
Why Are The First Day Returns Of China’S Ipos So High?, S. Ma
Faculty of Commerce - Papers (Archive)
We investigate the causes of the high first day returns of Chinese firms making an initial public offering (IPO) of A-shares from 1991 to 2003 on Shanghai and Shenzhen stock exchanges. Our results show an average underpricing of 175.21 percent. We argue that the IPO underpricing is an interaction of ex-market underpricing and on-market overpricing. The high first day returns of China’s IPOs are most likely generated from on-market overpricing. Government intervention, market speculation, special ownership structure, strategy of proceeds maximization and risk concerns are the main drivers of the high first day returns. However, the high first day returns …
Some Perspectives On China's Role In The East Asian Economies, Tang Zongming, Van Hoa Tran
Some Perspectives On China's Role In The East Asian Economies, Tang Zongming, Van Hoa Tran
Faculty of Commerce - Papers (Archive)
No abstract provided.
Modelling The Impact Of China's Wto Membership On Its Investment And Growth: A New Flexible Keynesian Approach, Van Hoa Tran
Modelling The Impact Of China's Wto Membership On Its Investment And Growth: A New Flexible Keynesian Approach, Van Hoa Tran
Faculty of Commerce - Papers (Archive)
The standard theories of economics, international finance, transnational corporations, and within the accouting framework of the United Nations System of National Accounts (SNA93) or earlier stipulate that investment plays a crucial role in influencing microenconomic activity, national ouput growth and economic development.
Impact Of Economic Policy Reform And Regional And Global Shocks On Trade And Growth In East Asia: Econometric Evidence For China, Van Hoa Tran
Faculty of Commerce - Papers (Archive)
The paper introduces the generalised gravity theory (Tran Van Hoa 2004) to construct a simply flexible simultaneous-equation econometric model of growth and trade of China and its five major trading countries or blocs (Japan, ASEAN-6, the European Union, the US, and Austrralia).
Interactions Among China-Related Stocks: Evidence From A Causality Test With A New Procedure, Gary Gang Tian, Guang Hua Wan
Interactions Among China-Related Stocks: Evidence From A Causality Test With A New Procedure, Gary Gang Tian, Guang Hua Wan
Faculty of Commerce - Papers (Archive)
The purpose of this study is to investigate a causal relationship among five different indices of shares issued by Chinese firms, A-, B- and H-shares listed in China and Hong Kong. This paper re-examines the interactions among these China-related stocks using daily time series data by constructing a vector autoregresion (VAR) model. A new Granger no-causality testing procedure developed by Toda and Yamamoto (1995) was applied to test the causality link among these five stock indices. The results emerging from our research indicate that there are "closed" relations within A-share (as well as within B-share) between Shanghai and Shenzhen markets …