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This chapter examines China’s corporate governance and accounting environment that shapes the adoption of internationally acceptable principles and standards. Specifically, it examines international influences, including supranational organizations; foreign investors and international accounting firms; domestic institutional influences, including the political system, economic system, legal system, and cultural system; and accounting infrastructure. China’s convergence is driven by desired efficiency of the corporate sector and legitimacy of participating in the global market. Influenced heavily by international forces in the context of globalization, corporate governance and accounting practices are increasingly becoming in line with internationally acceptable standards and codes. While convergence assists China in obtaining legitimacy, improving efficiency is likely to be adversely affected given that corporate governance and accounting in China operate in an environment that differs considerably from those of Anglo-American countries. An examination of the corporate governance and accounting environment in China suggests heavy government involvement within underdeveloped institutions. While the Chinese government has made impressive progress in developing the corporate governance and accounting environment for the market economy, China’s unique institutional setting is likely to affect how the imported concepts are interpreted and implemented.

The conceptual framework of Multicultural Hybridism is adopted to reflect the emerging themes of transnationalism and superdiversity in the context of ethnic minority migrant entrepreneurs breaking out of their ethnic enclaves into mainstream economy. It is constructed as an extension of Mixed Embeddedness theory (Kloosterman, 2006), given that ‘Multicultural Hybrid’ (Arrighetti, Daniela Bolzani, & Lasagni, 2014) firms display stronger resilience with a higher survival rate than enclaved businesses (Kloosterman, Rusinovic, & Yeboah, 2016). With further integration of incremental diversification typology (Lassalle & Scott, 2018), the current study adopts Multicultural Hybridism as a lens to explore the opportunity recognition capabilities of transnational, migrant entrepreneurs who are facilitated by the hybridity of opportunity recognition (Lassalle, 2018) from linking host-country and home-country cultures. The hybridity of opportunity recognition focuses on access to markets and resources between transnational ethnic and local multicultural mainstream markets. Through the theoretical lens of Multicultural Hybridism, interviews with 16 Birmingham-based Chinese migrant entrepreneurs have been analysed to shape a dynamic understanding of the multifaceted concept of breakout in a superdiverse and transnational context. The multilayered interpretation of breakout provides an enhanced understanding of the diversity of hybridism between transnational ethnic and local multicultural mainstream markets. This is seen from the perspectives of firm growth and social integration in the current locations and future spaces of transnational migrant entrepreneurs. It goes beyond the narrow imagination of breakout as an economic assimilation process, avoiding the singular conceptualisation of the host-country mainstream market as the only breakout destination for transnational ethnic entrepreneurs.

This article examines weaknesses of multinational corporations in China. Many multinationals target high price and high‐end segments when entering the country. This creates several problems. First, this market position makes them less sensitive to the growth opportunities in mid to low‐end segments. Second, the high price strategy provides local firms with opportunities to grow their businesses and to consolidate and increase market size in mid‐ to low‐end segments. Furthermore, the low cost strategy also helps local Chinese firms increase exports. After gaining competitive strengths, many local competitors upgrade their products and technologies to attack upper‐middle to high‐end segments, the core markets of many multinationals. This competitive dynamic suggests that multinationals should be aggressive and preemptive in monitoring local competitors in mid‐ to low‐end segments. When local firms are weak, using competitive prices is more urgent than bringing cutting edge products to the Chinese market. However, when local firms become strong competitors, though competitive prices remain important, multinationals should leverage their advanced products and technologies to compete in China. We discuss several factors contributing to the high costs of doing business in China and other factors contributing to success or failure of multinationals, such as establishing distribution channels, not ignoring the less affluent non‐central city markets, and educating the Chinese customers to create differentiated products and services.

China has followed an unique transition from central planning to a market economy. The purpose of this paper is to examine how China's unique blend of capitalism and socialism has influenced Chinese firms’ market orientation.

Broadly speaking this paper's methodological approach can be described as a positivistic epistemology.

The paper provides insights into how Chinese institutions facilitate or hinder firms’ market orientation practices through direct effect, externality effect and indirect causal chains. The central theme is that, compared with other countries, China's unaltered political institutions and newly created market institutions have led to unique roles of coercive, normative and mimetic pressures in the diffusion of market orientation among Chinese firms. Especially, regulative institutions’ influence on other institutions is more salient in China than in many other countries.

A lack of primary data and empirical documentation and a lack of in‐depth treatment of some of the key issues are major limitations here.

The paper analyses institutional pressures facing firms operating in China and their variation across different types of firms. An understanding of these pressures is essential to devise market‐oriented approaches in the country. It also examines different institutional factors (e.g. Chinese professional associations) that influence a firm's capability to implement market‐oriented practices.

This paper's greatest value stems from the fact that it employs institutional theory as a lens to understand firms’ market orientation. The institutions‐market orientation nexus is a very important but highly underexamined subject.

To review the importance of the Chinese cultural phenomenon, guanxi, and the marked difference in both consumer behaviour and management practices between China and the West, all from the perspective of market entry by multinational firms.

General conclusions are drawn and strategic imperatives inferred from a review of the relevant literature and a set of case histories based on personal interviews with key executives in the Chinese operations of six large overseas consumer‐goods companies.

The undoubted strategic significance of guanxi has been diluted recently among joint ventures designated as “encouraged” by the Chinese government, and is being replaced by a market‐driven paradigm of marketing operations. The guanxi‐driven paradigm remains a crucial factor in planning and managing effective working relationships when the Chinese partner is one officially classified as “restricted”. Case histories show that early success is no guarantee of continuing dominance, as indigenous competition intensifies and Chinese corporations become larger and better resourced.

Foreign multinational entrants to the Chinese market must remain sensitive to characteristically Chinese business and consumer behaviour, but can successfully adopt a more Western approach to marketing strategy in certain situations. It is essential to use marketing intelligence effectively, and to plan well beyond the short term.

The authors' expert view of the current situation fro multinationals in China adds a useful extra dimension to the received wisdom.

This paper reports the mail survey results of the marketing practices of 158 Chinese small firms in Hong Kong. The findings suggest that broad small firm marketing principles, though specifically generated from the Western countries, may not be fully suitable for some specific socio‐cultural contexts, for example Chinese society in Hong Kong. Thus, care should be taken before making generalizations about marketing in Western situations and in assuming that marketing tools and techniques are equally applicable across all places. Socio‐cultural influences should be considered when attempting to understand marketing practices of Chinese small firms.

This paper constitutes an explorative study into post-acquisition implementation of emerging market acquisitions in developed countries. More specifically, the study aims to better understand how low capability Chinese firms are able to capture value when acquiring high-capability targets in developed countries through a novel post-acquisition integration approach. In so doing, we set out to contribute to the literature on, and managerial insights into, the factors that determine the success of emerging market acquisitions, in general, and the context-specific use of post-acquisition implementation approaches, in particular.

The study follows a qualitative analysis and multiple case study design based on a phenomenon-based research approach. Data and information were collected through semi-structure executive interviews, observations, secondary sources, company report and media accounts.

Based on institutional theory, this study develops a conceptual framework for a tacit value approach toward the integration of acquisitions of developed market targets by emerging market acquirers.

The proposed tacit value approach of post-acquisition integration, which refers to the creation of intangible value over time, differs from the explicit value approach that is associated with the transaction-cost literature and more focused on the creation of tangible value in the short-term.

As the global economy expands, it would seem to be in the interests of the major professional sport leagues of the US to move into new markets, especially China, one of the fastest growing and largest in the world. In order to sell effectively in this market, it is vital to gain an understanding of the potential fan base. To explore national differences in fandom, a survey was completed by sports fans in both China and the US to assess which sports participants followed and which media they used, to identify fan motives and their feelings about expansion. This study determined that there are clear differences between Chinese and Americans. While many of the Chinese were fans of American sports, they tended to follow individual athletes rather than teams and had relatively low fan identity but high levels of fan motivation. Motives also varied by country, with aesthetics and affiliation the primary motives among the Chinese sample. These distinctions can be utilised to create marketing strategies.

This paper reports the survey results of marketing practices of 87 Chinese small firms in Mainland China. The findings suggest that the broad small firm marketing principles, though specifically generated from the Western countries, contribute to the success of Chinese small firms in China. Interestingly, however, the specific marketing practices of these small firms are different from those of their British counterparts. Research results indicate that higher‐performing Chinese small firms adopt the customer orientation, use a proactive approach in strategic planning, are aware and make use of marketing planning tools, adopt long‐term profit objectives, participate actively in new product development, and introduce new ways of doing business. Also, the higher‐performing Chinese small firms have well‐organised marketing organisation and encourage free communication flow and interaction among employees. To have better control over marketing activities, higher‐performing Chinese small firms frequently use marketing control devices. Thus, care should be taken before making generalisations about marketing in Western situations and in assuming that marketing tools and techniques are equally applicable across all locations.