Institutional change and corporate governance diversity in China’s SOEs

This study investigates the impact of different types of state ownership on corporate governance, with particular reference to state-owned enterprises in China. Our findings are that Chinese institutional reforms have produced diversified state ownership regimes. We argue that different types of government ownership exert different influences on ownership structure and executive shareholding. The study contributes to corporate governance research by challenging the conventional definition of state ownership and proposes that corporate governance studies should incorporate changing institutional environments in emerging economies.     

中国FDI激增对东南亚FDI的影响:基于1986-2001年板面数据的分析

近几年来,针对中国对外直接投资流入量激增这一现象,有些学者认为其挤占了东南亚经济体的投资。本文采用固定因素估计量,运用FDI区位决定因素模型来测算中国FDI与东南亚经济体FDI之间的关系。结果表明,1986-2001年间中国是提高而不是分流了其邻国的FDI。     

Integrating nonmarket and market resources,strategy and performance in Chinese enterprises: a review of the field and a resource-based empirical study

The resource-based view (RBV) regards strategy as deploying resources to obtain a competitive advantage. This article adopts such a RBV, by a simultaneous consideration of nonmarket and market factors, and then an empirical analysis of the relationships between such nonmarket and market resources, strategies and performance, focusing specifically on Chinese enterprises. The results test hypotheses related to the integrated strategy and RBV of the firm on linkages of nonmarket and market components. Combining those two views, this study reveals that there is a high and positive correlation between nonmarket and market strategies, while nonmarket strategy has a positive indirect effect on market performance via nonmarket performance. These findings suggest that the RBV is an appropriate theory for addressing the shortcomings in integrated strategy research.     

Ultimate ownership,risk-taking and firm value: evidence from China

This article investigates the relationship among ultimate ownership, risk-taking and firm value using firm-level data from Chinese companies. The results indicate that dominant ultimate controlling shareholders exacerbate the agency problem. The larger the divergence between ultimate shareholder’s control rights and cash flow rights, the stronger motivation is to reduce corporate risk-taking (CRT) to safeguard private benefits. Furthermore, the presence of a dominant ultimate controlling shareholder is harmful to firm value, and the divergence between its control right and cash flow right has a significantly negative effect on firm value. Corporate risk-taking plays a significant mediating effect between ultimate controlling shareholder and firm value. Based on these results based on theory and practice, we propose a number of practical implications for managers.     

On globalization ‘with Chinese characteristics’?

This Commentary looks at Globalization ‘with Chinese Characteristics’ (quanqiu hua yu zhongguo tese) as revealed through the lens of President Xi Jinping’s recent speech to the World Economic Forum in Davos, Switzerland in January, 2017. In this, he sets out a positive role for the PRC in the ‘Globalization’ stakes. He also puts himself forward as ‘Expert’, rather than ‘Red’, in the ongoing polemic on the benefits of further reductions in barriers to doing business. But whether this may be taken at its face value remains to be seen. Whilst the Chinese appear to promote more of ‘Globalization’ and the Americans seem to retreat from the model, the world economic community may well suspend its judgement.     

中亚国家能源政策及对策分析

中亚国家利用其优越的地缘优势和油气资源优势,实施了一系列资源立国政策,极大地推动了该地区国家经济的恢复和发展,引起了世界各国高度关注,同时,也为中国与中亚地区国家的油气资源合作带来了机遇和挑战。对中亚国家能源政策和未来能源发展趋势的分析表明,我国在中亚地区能源（油气资源）战略中应采取相应的应对策略。     

俄罗斯与东北亚国家能源合作的前景分析

在当今世界经济发展的大趋势下,能源出口在俄罗斯对外贸易中的地位日益加强。同时,它也是俄寻求加入东北亚各国经济进程的有力工具。而俄罗斯与在世界经济发展中居领先地位的东北亚国家的能源合作,也符合这些国家能源进口多元化的战略。由于不同的历史渊源,俄罗斯在中、日、韩这三个东北亚主要国家能源战略中的作用也不尽相同。     

试论大连东北亚国际航运中心的软环境建设

本文从国际航运中心发展的本质特征及实证角度,阐明国际航运中心软、硬环境的关系及软环境建设的重要性,分析了大连建设东北亚国际航运中心软环境的优势与差距,并提出具有针对性的对策与建议。     

中国吸引外资对东南亚国家吸引外资影响的实证研究

中国吸引外资的浪潮引起了人们普遍的忧虑,中国吸引外资是否会导致流入东南亚国家的外资逐渐减少。本文在假定外资的供应是有弹性的前提下,利用对外投资区位决定因素的模型和固定效应分析方法来检验中国吸引外资与东南亚经济体吸引外资间的关系。结果显示在1986年至2001年间,中国吸引外资的增长实际上提高了邻国经济吸引外资的能力,而不是排挤了邻国外资的流入。     

从全国人大会议的关注程度看当前的环境问题

从刚刚闭幕的十一届全国人大二次会议看,环境问题再次成为了大会代表关注和讨论的热点。什么是环境问题？环境问题有那些特征以及危害？解决好环境问题有什么意义？又有那些现实的解决途径？文章结合政府工作报告及相关环境问题的提案．对以上几个问题做了浅显探讨。     

Post-M&A technological capability-building of emerging market firms in China: the case of Lenovo

Technological acquisitions have become a strong motivation for cross-border merger and acquisition (M&A) activities by firms in emerging countries. However, whether these companies achieve their objectives remains an open question. This article presents a case study of Lenovo’s acquisition of IBM’s PC division with a focus on inventor productivity after acquisition. Our case study suggests that while a ‘light-touch’ integration approach helped avoid the all-too-common post-M&A productivity drop, intra-firm knowledge transfers to veteran inventors of the acquirers remained difficult due to the knowledge gap. However, M&A events create other opportunities to improve the technological capability of the acquiring company by sourcing new talent globally, offering unignorable merit that justifies outbound M&A activities by emerging market firms.     

What does the Chinese market need? An empirical study of the determinants of Chinese imports, 1996–2008

This study provides an in-depth analysis of the determinants of import demand in China through a multilevel approach. Using disaggregated data over 1996–2008 and a dynamic panel model, we find that the Chinese import market is predominantly characterized by quality competition. However, the nature of the competition varies across different industries. In line with theory, quality plays an important role in industries that are characterized by the potential for quality improvement and product differentiation, whereas price is key in industries in which quality and product differences are rather small. Moreover, private consumption expenditure is more influential than other categories of expenditures. Additionally, variables that can influence the relative price of import products, such as the exchange rate, tariffs and the domestic price index, also have an impact on import demand.     

网络信息污染:一个基于治理的分析

信息污染已经威胁到了网络的生态环境。本文认为,网络信息污染的产生同信息的特点、网络的特点、技术发展与道德发展的不协调以及管理方面的不足有关,网络信息污染的程度取决于信息源的数量、信息在网络中所处的位置以及浏览者的数量(即浏览者的信息偏好)等三个乘数。文章指出,对于信息污染的治理必须从三个乘数入手,提高信息源的质量,减少垃圾信息;充分放大对大众有用的信息,减少对社会有害的信息;本着服务社会、尊重民生的宗旨,充分发挥社会媒体的舆论导向;通过对网络进行妥善管理,合理运用,发挥其对社会、文化、道德发展的积极作用。     

对我国招商引资中污染产业转移问题应予关注

近年来,我国改革开放取得了重大成就,吸引了大量的外资来我国参与经济建设,但同时也面临着外商向我国转移污染密集型产业的问题。在总结外资污染密集型产业向我国转移的现状及分析转移的原因的基础上,提出了相应的对策。     

Confronting the crisis of food safety and revitalizing companies' social responsibility in the People's Republic of China

In recent years, China has experienced many crises related to food safety which have challenged the legitimacy of food production companies and damaged the reputation of relevant state law enforcement agencies, as well as influenced consumer confidence. Based on recent interviews with 20 food and drink production companies in the Shanghai region, this paper aims to address a key research question: what are the institutional and organizational factors that influence the production systems in general and the quality and safety of products in particular? The outcome of this research indicates that the pressure to minimize costs driven by price competition, changing consumer expectations, as well as a lack of enforcement of state regulation, cause companies to struggle to stay afloat and impede their commitment to social responsibility.