Uncovering asset stripping during China's privatization

This paper empirically studies the occurrence and extent of asset stripping via undervaluing public assets during the mass privatization of state-owned and collectively owned enterprises in China. Using three waves of a national survey of private firms, we provide evidence that state-owned and collectively owned assets were substantially underpriced, indicating the presence of corruption during privatization. Further analysis shows that the extent of underpricing is more severe in regions with less market competition or weaker property rights protection, and more pronounced for intangible assets such as intellectual property rights and land use rights. When comparing firm efficiency between privatized firms and de novo private firms, we find that the former group continues to enjoy considerable preferential treatments, yet significantly underperforms the latter, possibly due to continued government control and intervention. Finally, we provide evidence that insider privatization is an important source of corruption during the privatization process.     

Relative-to-rival corporate philanthropy,product market competitiveness,and stakeholders

Unlike most of the literature that examines the relationship between corporate philanthropy and financial performance, this study investigates the mechanisms through which corporate socially responsible behaviors produce financial outcomes. We propose that corporate philanthropy improves corporate competitiveness by eliciting positive responses from stakeholders, who assess a firm’s philanthropic contribution in relation to its rivals to determine what level of support they wish to provide to the firm. We predict that a firm’s philanthropy relative to its rivals has a positive effect on its product market competitiveness, and that this positive effect is moderated by three conditions that influence stakeholder response: stakeholder attention to philanthropy, its perceived legitimacy, and expectations of corporate giving. Our predictions are generally supported by our analyses. Overall, this paper shows that strategic philanthropy has a quantitative dimension, and firms obtain the market competitiveness associated with corporate philanthropy by integrating their rivals’ positions into their decision making.     

How perceived empowerment HR practices influence work engagement in social enterprises – a moderated mediation model

Abstract

Drawing insights from the group engagement model and self-determination theory, our research explored the role of perceived empowerment human resource (HR) practices in the hybrid organizational form of social enterprise in China. Based on two studies, this paper developed and examined a moderated mediation model, linking perceived empowerment HR practices, identification motivation, work engagement, and authority work value. Specifically, in Study 1 we found perceived empowerment HR practices increased employees’ work engagement through enhancing employees’ identification motivation. In Study 2, we adopted a two-wave design to duplicate and extend this mediation model. A moderator, employees’ authority work value, was found to weaken both the mediation relationship, and the positive relationship between perceived empowerment HR practices and identification motivation. This study broadens the understanding of what social enterprises look like in alternative contexts, while providing an opportunity to explore how a HRM mechanism and its boundary condition function in large social enterprises in China.     

Costs and potential funding of expanded public pension coverage in Asia

Public pension burdens in most emerging Asian economies are still relatively small. However, there are a number of reasons to believe that they will increase markedly in the coming years. First, many Asian economies will face rapidly ageing populations, which will raise pension and other old‐age‐related spending dramatically. Second, as economies develop, political pressures to expand the coverage of public pensions and raise pension benefits will likely increase. The first objective of this paper is to identify the potential fiscal burden of public pensions in 23 emerging Asian economies, based on econometric models and forecasts of GDP and demographic trends. Using two different methodologies yields estimated increases in the average share of public pension expenditures in GDP of 1.0 percentage point and 3.6 percentage points by 2030 compared with current levels. We believe the latter estimate is more realistic. The second objective is to recommend policies to provide adequate funding for public pension needs, including enhancing the efficiency of social insurance programs, improving the balance of revenues and expenditures, implementing more explicit fiscal rules and frameworks, and establishing stronger fiscal surveillance at the national and regional levels.     

Can interfirm trust improve firms' cooperation on environmental innovation? The moderating role of environmental hostility

Based on the logic of “trust‐behavior,” we examined the relationship between interfirm cognitive trust, emotional trust, and firms' cooperation on environmental innovation, as well as the moderating role of environmental hostility on the relationship between two dimensions of interfirm trust and cooperation on environmental innovation. Data for the study were collected from 216 firms in China. The results indicated that both interfirm cognitive trust and emotional trust were positively correlated to firms' cooperation on environmental innovation, and the effect of emotional trust on firms' cooperation on environmental innovation was negatively moderated by environmental hostility. Finally, the results were discussed and future directions put forward.     

Applied R in the Classroom

R, with support from a number of add-on packages, is an excellent teaching tool that can greatly enhance learning of exploratory data analysis (EDA) and linear regression. This article illustrates using R along with the packages tidyverse , GGally , esquisse and lindia to walk through an example of basic EDA and linear regression that might be used in an introductory class along with code examples for every step. Teaching with R can give learners control of their analysis, lower the intimidating coding barrier, and provide a platform on which to learn modeling and analysis.     

Related-party transactions and corporate performance following the adoption of International Financial Reporting Standards in Taiwan

We explore the association between related-party transactions and the efficiency of Taiwanese electronics companies following the adoption of International Financial Reporting Standards (IFRS) for the period 2010–2018. Tests of differences in mean showed that the efficiency and related-party transactions of the sample companies were significantly lower in the post-IFRS era. Regression results indicated that related-party transactions have significantly positive effects on efficiency; however, this positive association turned out to be smaller following the adoption of IFRS in Taiwan. Overall, this study suggests that changing accounting policy and rules can significantly affect related-party transactions in companies, and ultimately corporate performance.     

新零售下社区生鲜配送模式的综合评价

新零售模式下社区生鲜“最后500m”的冲刺已成为生鲜农产品快速配送的关键问题。基于目前已有的配送模式:“社区+便利店”模式、第三方配送以及众包模式,通过层次分析法从服务水平、配送成本、客户体验三个方面对三种配送模式进行量化分析,得出每种配送模式在各层次的权重。研究结果表明配送中降低配送成本是关键,减少货物赔损率、提高客户满意度才能实现有效率的配送。     

依赖性与嵌入性：产学研合作创新持续性研究

作为合作创新的重要形式，产学研合作创新为资源整合、产业优化与经济发展作出了重要贡献。基于国家重点产业专利信息服务平台，以我国电子元器件产业产学研合作发明专利为数据来源，采用Logistic回归模型实证检验依赖性与嵌入性对产学研合作创新持续性的影响。结果表明：在依赖性的3个要素中，地理邻近性对产学研合作创新持续性不具有显著影响，知识相似性和身份相似性均对产学研合作创新持续性具有显著正向影响；在嵌入性的3个要素中，结构嵌入性对产学研合作创新持续性不具有显著影响，关系嵌入性和位置嵌入性均对产学研合作创新持续性具有显著正向影响。但是，当所有因素同时进入回归模型时，只有知识相似性和关系嵌入性对产学研合作创新持续性具有显著正向影响，身份相似性和位置嵌入性的影响不再显著。