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Article
Publication date: 7 August 2017

Jing Liao and Jing Chi

310

Abstract

Details

Pacific Accounting Review, vol. 29 no. 3
Type: Research Article
ISSN: 0114-0582

Article
Publication date: 8 September 2022

Feng Xie, Hamish D. Anderson, Jing Chi and Jing Liao

This paper examines the impact of state control on stock price crash risk given whether and how ownership structure affects stock price crash risk is relatively underexplored.

Abstract

Purpose

This paper examines the impact of state control on stock price crash risk given whether and how ownership structure affects stock price crash risk is relatively underexplored.

Design/methodology/approach

The sample includes 2,285 Chinese firms listed in the Shanghai and Shenzhen Stock Exchanges. Panel data is used for conducting the analysis and endogeneity is addressed with instrumental variable estimation and by testing how stock price crash risk is affected when the ultimate controller changes from a private-owned company to a state-owned enterprise.

Findings

The authors find that state control is negatively associated with future stock price crash risk. The mechanism analysis shows that state control reduces stock price crash risk through the implementation of conservative corporate policies. Furthermore, the impact of state control is more pronounced with more intensive state involvement, e.g. in strategic industries and when a company's ultimate controller is a non-corporate government agency or the central government.

Originality/value

This paper enriches the literature on the controversy of the role of state control and the results of this study highlight the importance of the conservatism of state control on reducing stock return tail risk. The authors also add to the literature on the importance of the policy-risk sharing effect of state ownership.

Details

International Journal of Managerial Finance, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1743-9132

Keywords

Article
Publication date: 6 May 2022

Hamish D. Anderson, Jing Liao, Jingjing Yang and Martin Young

The authors examine the influence of powerful political corporate appointments on the usage of firm bribery channels. Party Secretaries within Chinese state-owned…

Abstract

Purpose

The authors examine the influence of powerful political corporate appointments on the usage of firm bribery channels. Party Secretaries within Chinese state-owned enterprises (SOEs) may simultaneously hold top management positions, thereby endowing powerful firm-level decision rights on those appointees, hereafter referred to as powerful dual role Party Secretaries.

Design/methodology/approach

This study employs panel data analysis with industry and year fixed effects. The authors use a sample of 1,143 Chinese SOEs listed on the Shanghai and Shenzhen Stock Exchanges from 2004 to 2015.

Findings

The authors find that powerful dual role Party Secretaries are associated with greater bribery channel usage. Following the ongoing anticorruption campaign, SOEs with the powerful appointments significantly reduce their usage of both transparent (entertainment and travel costs) and opaque bribery (abnormal management expenses) channels. However, in general, Chinese SOEs respond to the anticorruption shock by switching from the more transparent to the opaquer bribery channel.

Originality/value

The authors contribute to the ongoing debate of politicians on corporate boards by examining the relatively unexplored area of government appointed top management and their influence on bribery at the firm level.

Details

International Journal of Managerial Finance, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1743-9132

Keywords

Article
Publication date: 16 August 2021

Hamish D. Anderson, Jing Liao and Shuai Yue

Employing the anti-corruption campaign as an exogenous political shock, this paper examines how political intervention shapes the impact of financial expert CEOs on firm…

Abstract

Purpose

Employing the anti-corruption campaign as an exogenous political shock, this paper examines how political intervention shapes the impact of financial expert CEOs on firm investment decisions.

Design/methodology/approach

This paper uses a sample of 2,808 Chinese firms listed in the Shanghai and Shenzhen Stock Exchanges from 2003 to 2016. Panel data is used for conducting the analysis controlling for firm, industry, and year fixed effects.

Findings

The authors found that CEOs with financial expertise are sensitive to political intervention when making investment decisions. First, financial expert CEOs spend more on R&D expenditure in private-owned companies and they are associated with less R&D expenditure in state-owned enterprises (SOEs). Second, financial expert CEOs are associated with higher investment expenditure in general, but they become less likely to invest more in the post-anti-corruption period. The reduction in investment expenditure due to the anti-corruption campaign is more pronounced in SOEs than in private-owned companies. Third, the anti-corruption campaign promotes R&D investment in general, but in SOEs, expert CEOs tend to be less likely to invest more on R&D after the anti-corruption shock.

Originality/value

This paper enriches the growing literature on the impact of political intervention and the role of the anti-corruption campaign on corporate behaviour.

Details

International Journal of Managerial Finance, vol. 18 no. 3
Type: Research Article
ISSN: 1743-9132

Keywords

Article
Publication date: 10 August 2022

Weichao Yang, Yikang Liu, E. Deng, Youwu Wang, Xuhui He, Mingfeng Lei and Yunfeng Zou

The purpose of this paper is to understand the natural wind field characteristics of the tunnel entrance section and analyzing the aerodynamic performance of high-speed…

Abstract

Purpose

The purpose of this paper is to understand the natural wind field characteristics of the tunnel entrance section and analyzing the aerodynamic performance of high-speed railway trains (HSRTs) under natural winds.

Design/methodology/approach

Three typical tunnel entrance section sites, namely, tunnel–bridge in a dry canyon (TBDC), tunnel–bridge in a river canyon (TBRC) and tunnel–flat ground (TF), are selected to conduct a continuous wind field measurement. Based on the measured wind characteristics, the natural winds of the TBDC and TF sites are reconstituted and imported into the two corresponding full-scale computational fluid dynamics models. The aerodynamic loads of the HSRT running on TBDC and TF with reconstituted winds are simply analyzed.

Findings

The von Kármán spectrum can be used to describe the wind field at the tunnel entrance section. In the reconstituted natural wind condition, a time-varying feature of wind speed distribution and leeward side vortex around the HSRT caused by the wind speed fluctuation is found. The fluctuating amplitude of aerodynamic loads at the TBDC infrastructure is up to 97.9% larger than that at the TF infrastructure.

Originality/value

The natural wind characteristics at tunnel entrance sections on the high-speed railway are first measured and analyzed. A numerical reconstitution scheme considering the temporal and spatial variation of natural wind speed is proposed and verified based on field measurement results. The aerodynamic performance of an HSRT under reconstituted natural winds is first investigated.

Details

International Journal of Numerical Methods for Heat & Fluid Flow, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0961-5539

Keywords

Article
Publication date: 7 August 2017

Fang Hu, Jenny Stewart and Weiqiang Tan

The purpose of this paper is to investigate whether audit opinions of listed firms in China vary systematically with the political connections of the firm’s chief…

1193

Abstract

Purpose

The purpose of this paper is to investigate whether audit opinions of listed firms in China vary systematically with the political connections of the firm’s chief executive officer (CEO). Prior literature only shows the importance of political influence to auditor choice and audit quality.

Design/methodology/approach

A politically connected firm is defined as a firm in which the CEO has a political background. The authors use a “difference-in-difference” model to control for self-selection problems.

Findings

The authors find that the likelihood of receiving a favourable opinion in the subsequent period is positively associated with a CEO’s political connections. This positive association is stronger with CEOs connected to local government within the same region. The authors further find that the CEO’s political connections have more influence on favourable audit opinions in non-state-owned enterprises (non-SOEs) in a less developed and lower investor protection region. The influence is also less significant in the regions where there are more non-state-owned or foreign banks and where there are greater penalties for political corruption and relationship-based contracting.

Originality/value

The study complements and extends the existing literature on the role of political connections in the economy by providing evidence on the effect of a CEO’s political connections on audit opinions. The authors extend the research on auditing in emerging markets by explicitly accounting for unique institutional and market factors in China. They explore audit quality by observing how audit opinions are directly shaped by political and institutional factors.

Details

Pacific Accounting Review, vol. 29 no. 3
Type: Research Article
ISSN: 0114-0582

Keywords

Content available
Article
Publication date: 10 April 2009

Jin Chen and Jing Guo

652

Abstract

Details

The Electronic Library, vol. 27 no. 2
Type: Research Article
ISSN: 0264-0473

Article
Publication date: 25 September 2019

Zhixian Yi

The purpose of this paper is to look at organizational culture and knowledge sharing, and to explore how a leader fosters a culture of knowledge sharing in an information…

1076

Abstract

Purpose

The purpose of this paper is to look at organizational culture and knowledge sharing, and to explore how a leader fosters a culture of knowledge sharing in an information organization.

Design/methodology/approach

The literature survey is used. It indicates that little is known about how to foster a culture of knowledge sharing from a leadership perspective in an information organization.

Findings

This study finds that the main approaches that a leader need to use to foster a culture of knowledge sharing are to set the mission, short-term, middle-term and long-term goals and objectives of fostering a culture of knowledge sharing, master as many leadership styles as possible, adjust and choose a leadership style that is appropriate to fostering a culture of knowledge sharing in a given situation, lead by example, develop messaging, make a communication plan, reward and recognize knowledge-sharing behaviors and make knowledge management fun.

Research limitations/implications

The limitation is that this study is solely focused on the literature survey and opinions.

Practical implications

This paper provides a useful overview of the approaches used to foster a culture of knowledge sharing in an information organization.

Originality/value

The views, approaches and suggestions will be useful and valuable to improve the success of knowledge sharing in information organizations in the digital age.

Details

Library Management, vol. 40 no. 8/9
Type: Research Article
ISSN: 0143-5124

Keywords

Article
Publication date: 29 March 2013

Matthew Tingchi Liu, James L. Brock, Gui Cheng Shi, Rongwei Chu and Ting‐Hsiang Tseng

The purpose of this paper is to investigate how perceived benefits, perceived risk, and trust influence Chinese consumers' online group buying organized by institutional…

15155

Abstract

Purpose

The purpose of this paper is to investigate how perceived benefits, perceived risk, and trust influence Chinese consumers' online group buying organized by institutional initiators.

Design/methodology/approach

In total, 578 valid samples were collected via an online survey. Multiple regressions were used to test the research model.

Findings

The results show that three perceived benefits (price benefit, convenience benefit, and recreational benefit) and three factors that together represent trust of the initiator (perceived reputation, structural assurance, and website trustworthiness) significantly positively influence consumers' attitudes toward online group buying.

Originality/value

This study is the first one to specifically focus on how perceived benefits and perceived risks influence consumers' attitudes toward online group buying.

Article
Publication date: 7 June 2018

Fu Yang, Jing Qian and Jun Liu

The purpose of this paper is to examine the relationship between servant leadership and customer service behaviors by probing the mediating role of promotion focus and the…

1502

Abstract

Purpose

The purpose of this paper is to examine the relationship between servant leadership and customer service behaviors by probing the mediating role of promotion focus and the moderating role of internal locus of control.

Design/methodology/approach

The authors hypothesized an indirect relationship between servant leadership and customer service behaviors through promotion focus. Also, the authors predicted that the positive relationship between servant leadership and promotion focus would be stronger for employees with low internal locus of control. The authors tested the theoretical model with data gathered across two phases over three months from 280 supervisor-subordinate dyads.

Findings

Results indicated that servant leadership was positively related to customer service behaviors via promotion focus. Results also showed that internal locus of control moderated the relationship between servant leadership and promotion focus, such that the relationship was stronger for employees low on internal locus of control. Furthermore, this moderated mediated model was supported. As predicted, the indirect effect was stronger when internal locus of control was low.

Research limitations/implications

This study extends the regulatory focus theory to the service context to investigate how and when servant leadership enhances customer service behaviors. The authors suggested promotion focus as a key mediating mechanism and revealed internal locus of control as a boundary condition for the effectiveness of servant leadership.

Originality/value

This study highlights the importance role of promotion focus in fostering customer service behaviors and provides novel theoretical insight regarding when servant leadership enhances customer service behaviors.

Details

Management Decision, vol. 56 no. 11
Type: Research Article
ISSN: 0025-1747

Keywords

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