The Future Direction of China's Cross‐border Insolvency Laws,Related Issues and Potential Problems

The enactment of bankruptcy laws by the People's Republic of China (PRC or China) in 2006 was a necessary step in the development of its economy. This law represented a significant modernisation of the insolvency framework, supporting the transforming economy, but it was also a law of political expediency, for the enhancement of external relations. One aspect of the enhancement of external relations was the provision of cross‐border insolvency rules. However, this complex area of law was addressed in only one article, which was only a starting point, leaving many details unaddressed, and further reforms are required. In particular, it is desirable that the law provides a greater level of predictability as to the likely outcomes of cross‐border insolvencies, to encourage inward trade and investment, as well as encourage external trade. Both inbound and outbound business dealings are important to China's continued economic development. It is clear also, however, that insolvency law and practice is still a developing area for China. The establishment of a modern and unified system of insolvency laws was a big step for China, representing a sacrifice of tight controls on insolvencies, but the impact of this law in practice is only recently developing, with a loosening of state controls, after a very slow start. 1 The establishment of a cross‐border insolvency framework represents a further challenge; one that is likely to beset with considerable difficulties, as any further development of this law would potentially entail some further loss of control over proceedings, not least in outbound cases, and resistance may be anticipated. In keeping with China's historical approach to lawmaking in the area of bankruptcy law, it is likely that the cross‐border insolvency framework will develop gradually and with caution. This article assesses the way forward in respect of cross‐border insolvency laws, contending that an incremental approach over a period of years, in three broad stages, is required, with more developed and country‐specific approaches providing a link, or interim stage, between the clarification of the Article 5 and the formal adoption of the United Nations Commission on International Trade Law Model Law on Cross‐Border Insolvency Proceedings 1997 (Model Law) in China. Copyright © 2018 INSOL International and John Wiley & Sons, Ltd.     

How should heavy-duty trucks be taxed?

This paper develops and implements an analytical framework for estimating optimal taxes on the fuel use and mileage of heavy-duty trucks in the United States, accounting for external costs from congestion, accidents, pavement damage, noise, energy security, and local and global pollution. The analysis allows for endogenous fuel economy, increased auto travel in response to reduced truck congestion, and distinguishes driving by truck type and region. We estimate the optimal (second-best) diesel fuel tax at $1.12 per gallon and implementing it increases welfare by $1.34 billion per annum. Optimizing over both fuel and mileage taxes, and differentiating mileage taxes by vehicle type and region, yields progressively higher welfare gains. The most efficient tax structure involves a diesel fuel tax of 69 cents per gallon and charges on trucks that vary between 7 and 33 cents per mile; implementing this tax structure yields estimated welfare gains of $2.06 billion.     

Going solo: lifelong nonparticipation amongst the NCDS cohort

Some Western societies, it has been claimed, are experiencing an unparalleled downward trend in participation with manifold grave consequences predicted. In the UK, for instance, politicians and commentators, arguably influenced by Robert Putnam’s warnings of a collapse in community, have spoken of Britain’s broken society and disintegrating social ties with opting out, or nonparticipation, presented as a pressing social problem. Set against this background, and engaging directly with Putnam’s thesis, we explore the scale, characteristics and causes of an ‘extreme’ variant of nonparticipation – lifelong nonparticipation – amongst members of a national birth cohort, the UK’s National Child Development Study (NCDS) (1958). Joining structured survey data collected over the lifecourse, with biographical interview data collected from cohort members at age 50, we identify lifelong nonparticipation as a minority disposition associated with distinctive demographic traits being, for example, highly gendered and related to lower educational attainment. In terms of causes, time pressures arising from work and caring duties or, more precisely, the feeling of being ‘pressed for time’, appeared critical. The implications for policy and practice are considered.     

First comes love,then comes marriage,then comes baby in the baby carriage? exploring how women can use leisure as resistance to gendered ideologies

Although an increasing number of people are identifying as single in western society, gendered ideologies continue to influence women’s lives, emphasising the importance of heterosexual couplehood, marriage, family, and biological parenthood. Utilising third wave feminism as our theoretical framework, this paper explores how gendered ideologies can work together to influence adult women’s experiences with singlehood. Findings from qualitative interviews with 12 single, adult women, conducted in Ontario, Canada, reveal the ways women can face marginalisation and stigmatisation in certain leisure contexts because of their single status and how the ideology of couplehood can reinforce expectations related to familism and pronatalism for single women. Yet, the findings also illustrate the ways single women can resist these expectations through their leisure. This paper provides an important contribution to the literature, bringing attention to the complex ties between gendered ideologies and leisure for adult women.     

An online portal to support the role of the nurse manager

To encourage retention in nursing administration while building leadership capacity, efforts must be made to support the manager's practice and professional development. Functions and duties of the nurse manager need to be simplified and supplemental development materials need to be readily available. Innovations that organize necessary document templates and ease access to materials that enhance their leadership skills have real value. One institution's innovation to build nurse manager capacity was an online portal for nurse managers. The site offers information that enriches the role of nurse manager and represents one supplemental pathway to continuous leadership development.     

Still feeling employable with growing age? Exploring the moderating effects of developmental HR practices and country-level unemployment rates in the age – employability relationship

Abstract

A compelling issue for organizations and societies at large is to ensure external employability of the workforce across workers’ entire work-life span. Using the frameworks of age norms, stereotyping and age meta-stereotypes, we investigate whether (a) age is negatively related to perceived external employability; and (b) the age-employability link is moderated by HR developmental practices (HRDPs) and unemployment rate. We argue that being aware of stereotypes and age norms in organizations, and holding also meta-stereotypes about their group, older workers perceive themselves as less externally employable. However, the context –HRDPs that one has experienced, and the country unemployment rate – would act as buffers. Using data from a large-scale survey from over 9000 individuals in 30 institutionally diverse countries, we found that the negative relationship between age and perceived external employability was significant across all countries. In addition, at the individual level, we found that HRDPs acted as a buffer for this negative relationship, such that the effect was less pronounced for individuals who have experienced more HRDPs during their working life. At the country level, the hypothesized moderating effect of unemployment rate was not observed. Limitations, future research directions, as well as practical implications of the study are discussed.     

Desired goals and actual outcomes of e‐HRM

Much discussion exists in the academic literature about the potential goals of e‐HRM, but few scholars have looked at whether these goals are actually realised and what factors have an impact on this. This study examined the goals stated by organisations for the introduction of e‐HRM, whether these goals were actually achieved, and the factors affecting this through ten case studies in a range of UK organisations. The results demonstrated that e‐HRM is introduced in order to improve efficiency, service delivery, standardisation and organisational image, to empower managers and transform HR into a more strategic function. Efficiency, service delivery and standardisation goals were commonly realised. Some evidence of a transformational impact of e‐HRM was found, as the HR staff had more time and information to support the organisation in achieving its business strategy. However, no evidence was found of an actual increased involvement of HR in business decision making.     

Perspective: Economic Conditions,Entrepreneurship, First‐Product Development,and New Venture Success*

Entrepreneurial ventures have a significant impact on new job creation and economic growth, but existing evidence indicates that most entrepreneurial ventures fail. This paper reports key insights from VENSURV, a new database that tracks the success and failure of ventures founded since 1998. Based on an analysis of 539 new ventures founded during the years 1991–2001, the following conclusions are reached. First, consistent with prior research, less than half of the 539 ventures survived more than two years. Second, economic downturns lead to higher failure rates for new ventures. Third, new venture success is highly correlated with first‐product success. Fourth, first‐product success is enhanced when those products are introduced into markets with emerging market needs but with established industry standards. Finally, first‐product and venture performance are significantly higher for products based on ideas that came from the founders. In addition, the most successful first products are based on ideas that reflect both technology development and an analysis of customer needs.     

Teamwork Barriers in Japanese High-Technology Firms: The Sociocultural Differences Between R&D and Marketing Managers

Building and maintaining internal harmony is a fundamental concern for managers in many Japanese firms. Discussions of Japanese management practices often point to the intense socialization of new recruits, the rotation of employees through different functions, and the significant role of seniority in determining salary levels and promotions. Considering this emphasis on harmony, can we reasonably assume that the orientations of Japanese R&D and marketing managers do not differ in any ways that may pose significant barriers to teamwork between their departments? X. Michael Song and Mark E. Parry test this assumption by examining the sociocultural differences between R&D and marketing managers in Japanese high-technology firms. Using responses from both R&D and marketing managers in 223 firms, their study groups the respondents’ employers as either low- or high-integration firms. They examine the sociocultural differences between the R&D and marketing managers in the study along five dimensions: time orientation, bureaucratic orientation, professional orientation, tolerance for ambiguity, and preferences for high-risk, high-return projects. Contrary to expectations, the responses reveal several significant differences between the R&D and marketing managers in this study. Compared to their colleagues in marketing, the Japanese R&D managers in this study generally have a stronger preference for high-risk, high-return investments. The R&D managers in the study also have a longer time orientation than the Japanese marketing managers. However, marketing managers from the high-integration firms in the study have a longer time orientation than their counterparts in low-integration firms. Compared to the R&D managers, Japanese marketing managers in the high-integration firms studied have a greater tolerance for ambiguity. And relative to managers in low-integration firms, marketing and R&D managers in the high-integration firms in this study typically have a more bureaucratic organization. Perhaps most important, a significant number of R&D managers in this study perceive the marketing managers in their firms to have higher organizational status. Specifically, responses from R&D managers indicate that they perceive their marketing colleagues to have higher salaries, more power, and brighter career prospects. Such perceptions may foster morale problems among R&D professionals in these Japanese firms, and thus require management intervention to ensure that R&D performance does not suffer.