Hong Kong after 1997: The question of sovereignty

Ever since British-Chinese negotiations over the return of Hong Kong began in 1982, there has been a dialogue of the deaf about Hong Kong's future, Overholt provides a thorough overview of the historical, political economic, social and legal issues regarding Hong Kong's transition and of China's self-interest in Hong Kong's major functions as an airlock, entrepot, financial center, regional headquarters and manufacturer. Through his careful discussion of the foreseeable problems, Overholt reaches the conclusion that hong Kong is “useful pretty much the way it is” to China and doesn't see China disturbing the balance.     

Young Hong Kong managers: Their doubts about 1997

The economic success of Hong Kong—especially when compared to its much larger neighbor the People's Republic of China—has been a source of worry among business leaders in light of the colony's planned reversion back to China in 1997. Young managers in particular are nervous that, under the bureaucratic and repressive dominion of China, economic growth and opportunities will dwindle. How China handles its own affairs, as well as those of Hong Kong, may well affect the region's economy well into the next century.     

香港回归10年 经济漂亮转身

今年是香港回归祖国的第10年。在经历了1998年的亚洲金融风暴和2000年的科技股、网络股泡沫破裂,特别是2003年的SARS肆虐冲击后,香港经济开始走出低谷,焕发出勃勃生机。香港特别行政区政府团结全体港人,冷静迎战"亚洲金融危机",沉着应对"SARS肆虐冲击",保持了香港的稳定发展。     

Managing human resources in Hong Kong: 1997 and beyond

Financial transition is not Hong Kong's only concern after 1997. This paper examines issues that senior human resource management executives must address as Hong Kong's deadline approaches. Within Hong Kong's particular political context, Farh, Leung and Tse identify the major social and economic trends that directly affect the management of heman resources and discuss the key implications of these trends with regard to personnel planning, recruitment and selection, training and compensation.     

Relevant or redundant: Elite consumers' perception of foreign-made products in an emerging market

Abstract

This paper examines the attitudes of elite Pakistani consumers concerning their preferences for foreign-made products and how these preferences influence purchasing decisions. Data were collected from a sample of 250 buyers using a mixed methodology consisting of focus groups and a questionnaire survey. The results show a link between the country of origin (COO) of products and purchasing decisions. The nature and extent of this link vary across product class and purchasing decisions. A means-end chain (MEC) analysis revealed a close link between consumers' liking for foreign products connected with how they valued those products both psychologically and physiologically. The findings have implications for attaining a competitive advantage by using marketing strategies to target elite customers. As a pioneering study, this paper advances the theoretical knowledge, providing a framework as well as specific guidelines for practitioners to conceptualise the COO construct. The paper also suggests a strategic direction that successfully targets the elite consumer segment in Pakistan.     

Ethical Beliefs of Chinese Consumers in Hong Kong

In recent years, there has been increased awareness of unethical consumer practices in Asian countries. Asian consumers have gained a bad reputation for buying counterfeit products, such as computer software, fashion clothing and watches. In 1993, the estimated losses to US software companies due to Chinese counterfeiting stood at US $322 million (Kohut, 1994). The present study uses a consumer ethics scale developed by Muncy and Vitell (1992) to investigate consumers' ethical judgments from a Chinese perspective. The result shows that consumers in different cultures utilize similar rules to assess the ethicality of a given situation. However, findings also show certain cultural elements that are unique in influencing Chinese consumers' ethical judgments. The results also indicate the need for the continued development of and investment in consumer education in Asia.     

Ethical perceptions of Hong Kong Chinese business managers

This paper investigates ethical perceptions among Hong Kong Chinese managers of themselves and peers according to age, location of education and employment (local vs. multinational), based upon responses to thirteen potentially unethical situations.The major conclusions of the study are: (1) there is little consistency among perceptions of ethical situations; (2) Hong Kong managers perceive their peers as more unethical than themselves; (3) ethical perceptions in some situations are affected by age and to a lesser extent, place of education; and (4) significant interactions were found between age and the nature of employer, as well as between the place of education and the nature of employer.To conclude, the management implications of these findings are discussed.Miss McDonald has for the past five years been Assistant Professor of Marketing and Human Resource Management on the South East Asian postgraduate business programmes of the University of East Asia, Macau. Her commercial experience is in the fields of Advertising, Personnel Consultancy, and Industrial Relations.Dr. Zepp teaches Statistics and Operations Research at the University of East Asia. He was a lecturer at the Ohio State University (USA), where he received his doctorate. He spent 8 years in Africa, teaching at the University of Maiduguri (Nigeria), and the National University of Lesotho. He was an American Fulbright Professor at the Universite d'Abidjan (Ivory Coast), and a statistical consultant to the government of Haiti.     

The information content of option implied volatility surrounding the 1997 Hong Kong stock market crash

This study examines the information conveyed by options and examines their implied volatility at the time of the 1997 Hong Kong stock market crash. The author determines the efficiency of implied volatility as a predictor of future volatility by comparing it to other leading indicator candidates. These include volume and open interest of index options and futures, as well as the arbitrage basis of index futures. Using monthly, nonoverlapping data, the study reveals that implied volatility is superior to those variables in forecasting future realized volatility. The study also demonstrates that a simple signal extraction model could have produced useful warning signals prior to periods of extreme volatility. These results indicate that the options market is highly efficient informationally. © 2007 Wiley Periodicals, Inc. Jrl Fut Mark 27:555–574, 2007     

香港英语合同中文译文的特点

在香港,英文法律文书具有最终的法律效力。鉴于中文在香港的通用性,像合同这样的法律文书一般都有中文译文。一旦这些译文与原文在语言发生冲突,则以英语文本作为裁决的最终依据。因此,英语合同的中译文实际上只是起着辅助作用,处于从属地位。与内地的规范书面汉语相比,这些中译合同在用词遣句方面存在着其鲜明的特点。本文从分析风险投资合同出发,探讨了香港英语合同的中文译文的两个特点：术语不一致和较多使用文言。术语的不一致现象可能引起跨文本交际的失误,导致商业上甚至法律上的风险;而较多使用文言则不符合简化汉语的趋势,究竟是否保留这种使用文言的特点,不能一概而论,应遵循语言学的规律看待此问题。     

Chinese dairy firm reports sales surge after takeover of Sanlu

The National Development and Reform Commission （NDRC）, China＇s top economic planner, unveiled a plan June 10 to promote the use of 120 million compact fluorescent light bulbs （CFLs） this year, an effort aimed to boost consumption while saving energy.     

Cooperative Goals in the Chinese Work Environment: A Hong Kong Case Study

This research seeks to develop an understanding of how cooperative teamwork among Chinese employees impacts upon the customer perception of service in the Hong Kong ship-repair industry. The research model was based on the ‘Theory of Cooperation and Competition’, a western-derived theory. The model used included the Chinese values of power distance, collectivism and conformity. The results suggested the need to explore alternative processes that Chinese people may engage in in managing their conflict. We question whether the ‘goals’ or ‘ends’ based approach to the operation of teams inherent in the Theory of Cooperation and Competition, is valid in the Chinese context where ‘process’ and ‘relationship’ are pivotal.     

Hong Kong： Again The World Best

Hong Kong International Airport(HKIA) has been named CargoAirport of the Year 2003 by the air cargo trade publication Air Cargo News.This is the second consecutive year for HKIA to have received this award.     

The effect of perceived advertising effort on brand perception: implication for retailers in Hong Kong

This paper examines how advertising effort, specifically advertising creativity and advertising believability, may influence consumers’ perceptions of a retailer’s business philosophy, and in turn consumers’ behavior toward retailers in Hong Kong. Altogether five hundred and eighty-three respondents (i.e. 320 college students and 263 shoppers) were surveyed. The results suggested that retailers that are regarded as having more creative advertising are perceived as being more learning-oriented, which leads to higher brand recognition. Meanwhile, retailers that are regarded as having more believable advertisements are perceived as having higher levels of integrity, and as a result are better recognized and more likely to be patronized. This research contributes to literature in retailing and marketing communication by establishing the antecedents and consequences of building a learning-oriented and trustworthy business philosophy in a cultural specific context. It also provides practical guidance for retailers who aim to increase brand recognition and purchase intentions through promotional effort.     

Cultural identities of Chinese business: networks of the shark-fin business in Hong Kong

From a global standard, shark-fin consumption certainly violates international norms on bio-diversity and endangers the existence of the shark species. Furthermore, the commercial shark-fin industry generates additional adverse environmental impacts. Nevertheless, shark-fin consumption has served an important role in the cultural aspect of Chinese ‘foodway’. More importantly, the business relations and networks behind this industry have never been comprehensively studied. In so doing, this paper employs first hand interviews with the traders and processors, as well as official statistics from the government of Hong Kong, to come up with one of the most comprehensive and in-depth pieces of research on the business relations and the cultural aspects of shark-fin business in Hong Kong. In addition, we will explore the theoretical as well as the cultural dimensions of shark-fin business in trying to question the meaning of Chinese business networks. One of the key findings of this piece of research is that the collective activities of shark-fin consumption, business relations and networks are embedded along the historically, socially and culturally constructed Chinese identity. The implication is that such orchestration between culture and business can have far-reaching consequences to other Chinese businesses.     

Philosophical Foundations of Eminent Hong Kong Chinese CEOs’ Leadership

Because of the importance of Confucian doctrines in shaping ethical business practices under Chinese leadership, revealing the roles of other Chinese ethical doctrines in modern Chinese leadership is informative. A thorough understanding of the ethical foundations of Chinese leadership is necessary for fruitful interaction with Chinese leaders, according to cultural fit theory. The present study illustrates the philosophical foundations of business management, based on dialogues with five eminent corporate executive officers (CEOs). It reveals that the CEOs practice a style of Chinese leadership synthesizing Confucian, Daoist, Mohist, and Legalist doctrines. The Confucian doctrines advocate benevolence, harmony, learning, loyalty, righteousness, and humility. They are the most prevalent tenets that support paternalism and collectivism. The Daoist doctrines emphasize flexibility and reversion (e.g., the principle that the weak can defeat the strong). They bolster the leader’s forbearance. The Mohist doctrines underpin thrift and working with the masses whereas the Legalist doctrines inculcate self-control and innovativeness. Hence, contemporary Chinese leadership does not rely exclusively on Confucian ethics and this reflects evolution over 1000s of years.     

由从香港进口零关税机械产品想到的

企业应注意:根据时间表,内地从香港进口的原产于香港的货物实行零关税分两批。时间是2004年1月1日和2006年1月1日。 第一批主要是进口金额较大的273个税目货物,其中包括43个税目的机械产品;第二批全部货物(进口零关税货物均须核定确实在香港生产,符合原产于香港的条件)。一、内地从原产于香港进口货物分两批实行零关税 按照《内地与香港关于建立更紧密经贸关系的安排》协议(以下简称《协议》),香港继续对原产于内地的进口货物     

Consumption situations and the effects of brand image on consumers' brand evaluations

This research examines the role consumption situations play in determining the effects of brand image on consumers' brand evaluations. Results from the first experiment suggest that when consumption situations are experimentally manipulated for the same brand, conspicuousness does not significantly moderate the relative effects of actual and ideal congruence on brand evaluations. Further, marketers can manage the effects of image congruence (between brand image and self-image) by promoting varying consumption situations. Results from the second experiment demonstrate how a dynamic concept of situational ideal self-image (the image consumers perceive as being ideal to project in a particular situation) is a better predictor of brand attitudes than are static concepts of self-image such as actual and ideal self-image. Developing effective brand images must be coupled with a consideration of the potential situations in which the product is to be consumed. © 1997 John Wiley & Sons, Inc.     

Action control,proxy control,and consumers' evaluations of the service exchange

This article adopts a consumer's point of view, and extends current literature that models the relationships between consumers' control perceptions, service providers' fair behaviors, and consumers' satisfaction with the exchange. Perceived control is disassembled into action and proxy control and their differential actions in the service exchange discussed. This article models, for the first time, the joint effects of perceived control and service provider behaviors on consumer satisfaction by explicitly connecting service‐provider fair behaviors to consumers' perceptions of control. The results from two repeated‐measures experiments provide support for the hypotheses. Specifically, a multivariate analysis of the data demonstrated main effects for the experimental manipulations on perceived control, perceived fairness, satisfaction, and behavioral intentions. An interaction effect between perceived control and perceived fairness was also evident in one experiment. Future research and managerial implications are discussed. © 2004 Wiley Periodicals, Inc.     

Hong Kong：10^th Anniversary of Return

In the past months, Hong Kong has warmed up for celebrating the 10th anniversary of its return to the Chinese motherland with all kinds of anniversary-related activities. Concerns from all over China and abroad are mainly focusing on what changes the Hong Kong economy has undergone in the 10 years since the handover and what are the external and internal factors affecting Hong Kong. Authorities from Hong Kong Trade Development Council (TDC) have shared their views with China's Foreign Trade on Hong Kong's economic development in the past 10 years.