This study aimed at investigating the influence of corporate governance on firm risk during the Chinese state enterprise reform. The purposes of this study are to examine…
This study aimed at investigating the influence of corporate governance on firm risk during the Chinese state enterprise reform. The purposes of this study are to examine the effects of board independence, state ownership and other governance variables on firm risk and to check the influence of controlling shareholder types on firm risk.
This study uses the dynamic and static panel model to estimate the effects of board independence, state ownership and other governance factors on return volatility. To examine the influence of controlling shareholder types on corporate risk-taking, this study further used the treatment effect model (or sample selection model) to analyze the effect of private, state-owned enterprise (SOE) entity, central government and local government controls on corporate risk-taking.
It was found that the enforcement of board independence significantly increases firm risk. The strategy of decentralizing state enterprises (from central government to local government) is a good way to achieve stable stock returns.
This study contributes to existing knowledge in several ways. First, it focused on independent directors rather than on the size of the corporate board. Second, it highlighted the impacts of state ownership and control on corporate risk. Instead of treating all types of state ownership as homogenous, SOEs are further classified into directly controlled and indirectly controlled, in line with prior studies.
Using a Southeast Asian context, this paper asks a question that has seldom been researched: Is there a divergence between parents’ and their college-going children’s…
Using a Southeast Asian context, this paper asks a question that has seldom been researched: Is there a divergence between parents’ and their college-going children’s perceptions of education and employability at a time of rapid economic change? If such a divergence exists, it would have hidden costs for the children. Parents’ choice of professions no longer in demand when their children reach working age can permanently damage the latter’s earning power. Also, parents’ choice of fields of study that their children are not proficient or interested in jeopardizes the latter’s chances of success in their studies. The paper aims to discuss these issues.
Data were collected using mixed methods, a combination of structured online questionnaires from two local special-purpose sample surveys conducted by the authors, and follow-up interviews. Graduate Employment Survey 2 (GES2) was the second of a three-phase British Council-sponsored study, focusing on TNE, that used a structured online questionnaire for students of several tertiary education institutions, both in the public and private sectors, and for several group interviews of students in 2015. A structured questionnaire was also administered to a small number of parents.
In terms of employment, the rankings of HEIs by parents and students were generally consistent. Study in foreign HEIs abroad has the highest likelihood of employment. Branch campuses were ranked next highest. Despite this, of interest is the difference in mean scores between first and second ranked HEIs. Whereas students rate branch campuses as not much inferior to foreign university campuses, parents see a major gulf between them – they rate foreign campuses more highly than branch campuses more poorly. This difference is likely caused by parents’ traditional preference for foreign study over local, coupled with a lack of TNE knowledge.
A fundamental issue of perception is how parents and students see the role of education. Is education a destination or is education a journey? This disconnect has consequences. Given the shifting nature of employment, the need for transferable skills and the fact that some of the jobs that the next generation will be doing are not even known today, parental advice based on what they know may not do justice to their children’s choice of career. Likewise, the approach of TNE to promote traditional degrees to job paths is also a conventional approach that has a limited shelf life.
The role of parents in education choice has received surprisingly scant academic attention. With technological change driving product and service innovation ever more rapidly, previously unknown types of work have emerged in a relatively short span of time. In this situation, the risk of mismatched perceptions between parents and their children, whose educational experience spans a generation, is becoming increasingly real. While most studies of a parental role have been undertaken for Western countries, there is much less research on East Asian parents’ role in their children’s education.
Recounts the history of the Chinese Diaspora in Australia, which dates back to the Gold Rush of the 1850s. In the past three decades, following the end of the white…
Recounts the history of the Chinese Diaspora in Australia, which dates back to the Gold Rush of the 1850s. In the past three decades, following the end of the white Australia policy, many ethnic Chinese immigrants have immigrated to Australia. Although there are only 300,000 people of Chinese ancestry living in Australia, Chinese immigration is a critical chapter of Australia’s immigration experience. Chinese entrepreneurs have played a major role in the history of the Chinese in Australia. Explores the experience of Chinese entrepreneurs in Australia from the earliest days till the present and reviews historical accounts of Chinese entrepreneurs in Australia, before presenting the results of recent research. Argues that it is necessary to investigate how ethnicity, gender and class have intersected to shape changing patterns of Chinese entrepreneurship in the Australian Chinese Diaspora. Suggests also that the dynamics of Chinese immigration and Chinese entrepreneurship in Australia have been shaped by the changing dynamics of globalisation, the state and the racialisation of Chinese immigrants in the Australian labour market and society as a whole.