Search results

Since the declaration of reform and market opening from China in 1990, China has drawn much attention from the world thanks to its rapid economic growth and its emergence as the world's major consumer market and the center of the global economy. Moreover, it established the new trade order, making East Asia the center of the new trade trend as it becomes a manufactural and sales stronghold of multinational companies. The Chinese distribution market is expected to show a high growth rate by 2010 and it draws attention as a new business sector which can bring huge profits. However, advancement of the Chinese distribution industry now faces systemic problems and research on such problems is insufficient. Therefore, in this study we will conduct SWOT analysis based on previous studies on the Chinese distribution industry and use it as a ground to propose strategic solutions for development.

Written communication differences across cultures can set the tone for effective or disastrous business relationships. Although English has been the go-to language in business, managers from different countries can significantly differ in how they convey the firms' information. This study explored these differences by examining the documentation presented by foreign corporations as part of their initial public offering (IPO) in the USA, particularly Chinese firms.

This work examined cultural-related differences in written communications by looking at foreign corporations' descriptions of their strengths, strategies and challenges included in F-1 documents submitted to the Securities and Exchange Commission as part of the IPO process. The sample consisted of 97 American depositary receipts (ADRs) identified in the Bank of New York Mellon's ADR directory from 2003 to 2015.

This study found that Chinese firms significantly differ from other countries' firms in depicting their strengths, strategies and challenges.

Limitations have to do with the sample size. Future research may address this by considering other depositary markets, not just the USA.

The results will be significant for potential ADRs investors; they must be conscious of these differences in the written documentation submitted by Chinese firms compared to other foreign firms. The market should also be aware of these differences, as the Chinese seem less open to sharing information about the under spinning of their operations and financial prospects.

Chinese-listed firms with Belt and Road Initiatives (BRI) play a crucial role in advancing the outward investment policy of China. Board diversity can be vital, and intellectual capital disclosure (ICD) showing future earnings can build investor confidence in these firms. This study examines these two relationships in Chinese-listed firms with BRI projects during a predictable business outlook period (2019, pre-Covid period) and unpredictable business outlook period (2020, Covid period).

The study used least squares regression that analysed the target population comprising 79 listed Chinese firms with BRI projects in 2019 and 2020. The China Stock Market and Accounting Research (CSMAR) database provided board diversity data. Analysing annual reports using content analysis provided the ICD data, collected by following an established intellectual capital (IC) coding framework in the literature. After collecting board-related data, the study calculated the diversity between boards in firms (diversity of boards – DOB) using cluster analysis. The study estimated the diversity within each board (diversity in boards – DIB) using Blau's Index.

The findings indicate that in the predictable business outlook environment, DOB positively associates with ICD, and DIB negatively associates with ICD. In the unpredictable business outlook environment, the DIB and DOB interaction negatively associates with ICD, and DOB positively associates with ICD.

The findings apply to Chinese-listed firms with BRI projects and further research is required to generalise findings beyond them. This study used annual reports to collect ICD, but a future study could examine BRI firms' social media and website disclosures. The attributes selected for board diversity dimensions can contribute to bounded findings, and future studies could expand the board diversity attributes included.

The findings provide insights into firms' board composition and structure associated with ICD.

This is one of the first studies providing empirical evidence about board diversity and ICD of Chinese-listed firms with BRI projects.

This paper examines the comparative corporate performance of logistics companies in Korea, China and Japan. Based on the annual data from the listed companies, the growth rate of Chinese companies has surpassed that of Korean and Japanese companies and has labeled China as the fastest growing economy. How ever, labor efficiency of Chinese firms when calculated by total revenue per employee is the lowest of the three countries. In addition, the profitability of Chinese multimodal logistics companies and sea transport companies is also lower than that of Korea and Japan.

Using Data Envelop Analysis(DEA), the primary results regarding corporate efficiency among Korean, Chinese and Japanese logistic companies are as follows: In the multimodal industries, Japanese firms have revealed the highest level of efficiency, with Korean firms coming in second, and Chinese firms ranking third with distinctly inferior performance. This trend has also been examined in the maritime industries, in which the efficiency levels have been deteriorating continuously. However, in the air transportation industry Chinese companies revealed the highest level of efficiency, which resulted from the business characteristics of the government supported conglomerate companies.

The paper aims to provide a comprehensive investigation of the relationship between corporate governance (CG) structure and firm performance in Chinese listed firms from 2001 to 2015. The authors’ motivation derives from the fact that the CG system in China is different from those in the US, the UK, Germany, Japan and other countries.

A large unbalanced sample, covering more than 22,700 observations in Chinese listed firms, was used to explore, by means of a system-generalized method-of-moments (GMM) estimator, the relationship between CG structure and firm performance to remove potential sources of endogeneity.

Results show that Chinese CG structure is endogenously determined by the CG mechanisms investigated: there is no relationship between board size (including independent directors) and firm performance; CEO duality has a significantly negative effect on firm performance; concentration of ownership has a significantly positive influence on firm performance; managerial ownership is negatively correlated with firm performance; state ownership has a significantly positive effect on firm performance; and a supervisory board is positively correlated with firm performance.

The findings provide policymakers and firm managers with useful empirical guidance concerning CG in China.

Few integrative studies have examined the impact of CG structure on firm performance in China. This study adds new empirical evidence that the relation between CG structure and performance in China is endogenous and dynamic when controlling for unobserved heterogeneity, simultaneity, and dynamic endogeneity.

The Chinese market represents an increasingly popular destination for wine firms and recent opportunities derive from the growth of e-commerce. The aim of this paper is to understand the impact of digital platforms on wine firms' internationalisation in China by adopting the service ecosystems approach.

The authors carried out a case study of Italian premium wine firms from the Valpolicella area by collecting 27 semi-structured interviews with key informants that operate at the micro-, meso- and macro-levels of the internationalisation ecosystem. Italian wine firms were selected as the focus of the analysis, given the recent sales growth of their products in the Chinese market.

Results show that digital platforms hold a key role in the wine firms' internationalisation in China, intervening with resource integration mechanisms, alignment to the cultural context and mediating firms' digital presence in the market. The platformisation dynamics also reveal the existence of enablers and constraints in the firm internationalisation through digital platforms.

The authors aim to contribute to the marketing literature by analysing how digital platforms influence the wine firms' internationalisation in China through an original perspective, i.e. the service ecosystems lens.

The study adopts the service ecosystems approach to understand the internationalisation of wine firms in the Chinese market through digital platforms.

An emerging line of research examining the role of numerological superstition in the capital market shows that it has significant impact on investor behavior (Bhattacharya, Kuo, Lin, & Zhao, 2018; Hirshleifer, Jian, & Zhang 2018). However, to the authors’ best knowledge, there is a dearth of evidence on whether numerological superstition affects corporate behavior. This study fills this void by examining the association between investors’ numerological superstition and earnings management using Chinese data.

Chinese culture views 6 and 8 as lucky numbers. Using Chinese publicly traded firms, the authors examine the relation between investors’ numerological superstition and corporate financial reporting behavior.

The results suggest that firms reporting lucky earnings-per-share (EPS) numbers ending with 6 or 8 are more likely to engage in earnings management. These firms also raise more capital through seasoned equity offerings in the following year; however, they do not have more capital investments. Instead, their controlling shareholders siphon a significant amount of capital through related party transactions. Overall, the findings suggest that managers collude with controlling shareholders to manage earnings by exploiting the superstitious beliefs of minority shareholders.

To the authors’ best knowledge, there is a dearth of evidence on whether numerological superstition affects corporate behavior. This study fills this void by examining the association between investors’ numerological superstition and earnings management using Chinese data.

This paper aims to analyse the evolution of Chinese industrial ethnic clusters in Italy, by focusing on the role of social networks and the processes behind the phenomenon of Chinese worker exploitation and entrepreneur “self-exploitation”.

The case study is a sub-cluster of micro and small enterprises owned by Chinese entrepreneurs within the leather industrial district of Florence, Italy. This research adopts the following mixed methods: a small-scale survey to capture the characteristics of the sub-cluster and a social network analysis to describe cluster evolution, complemented by life-course interviews conducted with key informants and entrepreneurs.

Migrant social capital and social networks play a central role in the evolution of the case study sub-cluster. Social networks play a supportive role in migration, job creation, entrepreneurship formation and the creation of business opportunities. Simultaneously, they enhance the phenomenon of worker exploitation and entrepreneur self-exploitation. Furthermore, the more the business community grows, the more the economic performance of ethnic enterprises depends on agglomeration forces produced by the cluster.

The findings suggest a series of potential policies to upgrade the ethnic enterprises' capacities, to increase their formality and inclusion in the Italian social and economic systems and sub-cluster.

To the authors’ knowledge, this paper is the first attempt to examine the evolution of social networks in relation to the phenomenon of Chinese worker exploitation and entrepreneur self-exploitation in an ethnic industrial sub-cluster.

This study aims to investigate whether firms purchase directors' and officers' liability (D&O) insurance when the country-level economic policy uncertainty (EPU) is high.

This study uses D&O insurance data from Chinese listed firms between 2003 and 2019 to conduct regression analyses to examine the association between D&O insurance and EPU.

The results show that government EPU, despite being an exogenous factor, increases the likelihood of firms' purchasing D&O insurance, and this effect is more pronounced when firms are exposed to great share price crash risk and high litigation risk, suggesting that firms intend to purchase D&O insurance possibly due to the accentuated stock price crash risk and litigation risk associated with EPU. In addition, the results indicate that the effect of EPU on the D&O insurance purchase decision is moderated by the provincial capital market development and internal control quality.

The study highlights the role of uncertain economic policies in shareholder approval of D&O insurance purchases.

The study enriches the literature on the determinants of D&O insurance purchases by documenting novel evidence that country-level EPU is a key institutional factor shaping firms' decisions to purchase D&O insurance.

The purpose of this paper aims to investigate the relationship between the audit firm's ethical climate and workplace bullying perceived by trainee auditors in Chinese audit firms.

An Ethical Climate Questionnaire and a Negative Acts Questionnaire are adapted from the existing organization studies and business ethics literature to fit in the audit firm context and are administered in a survey on 205 trainee auditors with a four-month long work placement in audit firms. SPSS is used in statistical analyses and tests.

This study confirms that some but not all types of organizational ethical climate significantly affect the perceived workplace bullying in audit firms. The results of testing for the relations between workplace bullying and ethical climate after breaking down workplace bullying into the work-related and person-related bullying sub-categories provide some different conclusions. Besides the impacts of the ethical climate on workplace bullying, this paper also finds out that trainee auditor's gender, the leader–subordinate gender difference, firm size and audit engagement team size are more likely to affect the perception of one or more of the bullying categories in audit firms.

This study implies some guidance for the audit firms to establish healthy ethical climates that can help them to recruit, train and retain young skilled auditing professionals.

The findings of this study imply that a healthy ethical climate can help develop the audit profession and markets by deterring workplace bullying in audit firms.

This paper extends the organizational studies on the impact of the audit firm's organizational ethical climate on workplace bullying in the auditing profession. It also extends the gender roles in organization studies by stratifying the levels of workplace harassment.