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This paper outlines the theoretical models of international cash management and assesses their implications for corporate practice. Corporate practice is then reviewed through the analysis of survey research and case studies. It emerges that whilst the implications of theoretical models are captured in essence by corporate practice, there is scant evidence of companies using sophisticated models in international cash management. The practice of international cash management is largely driven by developments in communications and computer technology, relaxation of regulatory and tax impediments, the internationalisation of banking and the development of new banking prod ucts. International treasurers may therefore be able to find appropriate cash management solutions to meet their business needs with the co‐operation of banks and technology providers. Further academic research should evaluate the extent to which corporate practice is consistent with extant multi‐currency balance and net work optimisation models and also explain why particular approaches to interna tional cash management persist in companies.

Defines national culture, summarizing and comparing various models of national culture, including single and multiple dimension models, historical‐social models in high and low context and monochronic and polychronic cultures. Discusses their relevance to the study and practice of local and international management, and tabulates the main features of each model.

In this paper, we model histories of coresidence between two cohorts of urban Chinese couples, married during the Cultural Revolution and early market reform periods. Most research on coresidence pictures families cross‐sectionally, but nuclear households are a natural part of extended coresidence systems that prefer stem family arrangements. We study histories of coresidence to determine what predicts ever having coresided with the husband’s parents, comparing the predictive power of modernization theory to the impact of demographic change, the availability of household members, and the resources and needs of each generation. While married children’s needs for childcare do not propel them into coresidence, they strongly predict the likelihood of staying coresident.

Among developing countries, the Republic of China in Taiwan (hereinafter Taiwan) has been experiencing economic growth accompanied by improving income distribution. Between 1964 and 1980, the average annual growth rate of the real gross national product was 9.92 per cent (Council for Economic Planning and Development (CEPD), 1982, p. 23). In the same period, the income ratio between the top 20 per cent and the bottom 20 per cent of families dropped from 5.33 to 4.17 and the Gini coefficient decreased from 0.36 to 0.30 (CEPD, 1982, p. 54; Directorate‐General of Budget Accounting and Statistics, 1980, (DGBAS), p. 44). To put it somewhat dif‐ferently, in 1964 the lowest fifth of households received 7.71 per cent of total personal income, and the highest fifth 41.07 per cent. But in 1980, the income share of the lowest fifth increased to 8.82 per cent while that of the highest fifth decreased to 36.80 per cent. The condition of greater equality in income distribution appears more obvious in the capital city of Taipei. In 1981, for instance, its Gini coefficient was estimated to be only 0.28 (Taipei Bureau of Budget, Accounting and Statistics, 1981, (TBBAS), P. 24).

As the world becomes a global village, sports organisations have begun to extend their markets and fan bases to different groups of customers. David Beckham, a British soccer star with a high profile marriage and much media attention, has endorsed numerous products, thereby becoming an excellent case study for the current trend of athlete endorsement in the international sports industry. The results of this case study provide insights into factors that might influence the success of athlete endorsement.

The purpose of this paper is to examine the daily and overnight volatility spillover effects in common stock prices between China and G5 countries and explain their implications on the basis of empirical results.

The analysis utilizes the exponential generalized autoregressive conditional heteroskedasticity (EGARCH) model, the cross‐correlation function approach, and realized volatility for daily and intraday stock price data that cover the period from January 5, 2004 to December 31, 2007.

Principally, the paper concludes the following: strong evidence of short‐run one‐way volatility spillover effects from China to the US, UK, German and French stock markets is observed and the test results indicate that Chinese investors were not rational and China's stock market entered a speculative bubble period after the second half of 2006.

Contrary to widespread belief, the empirical results suggest that a small (China) stock market has significant influence on a large (G5) stock market but not vice versa. This paradox is interpreted as a particular phenomenon existing together with the rapid economic development and severe capital regulation in China.

The purpose of this paper is to analyze the influence of teacher leadership on the enactment of educational reforms in southeastern China. It considers how the work of middle and teacher leaders in schools is structured to support reform enactment at the school level.

The research was conducted in three case study sites in one school district in Shenzhen, China. Low, moderate and high academic achieving schools which had engaged teacher leaders in instructional reforms were selected. A combined total of 34 senior, middle and teacher leaders participated in semi-structured interviews, which were analyzed through a comparative coding process.

Across the three schools, teacher leaders without positional authority strongly influenced the instructional reforms. Their influence was strongest when bolstered by a combination of formal recognition systems, opportunities to lead projects that were directly related to the reform efforts, and mentorship systems that skilled novice teachers in reform-related skills and experienced teachers in leading reform enactment. Mechanisms and structures embedded in schools, when coherently focused on selected reforms, supported the efficacy of teachers without formal authority. And, middle leaders’ impact was enhanced when working collaboratively with formal and teacher leaders.

This research yields insight on teacher leaders’ influence of reform. It considers how the work of middle and teacher leaders can be structured as a collective that impacts on reform enactment at the school level. And, it illuminates teacher leadership in a Chinese context other than the scrutinized Shanghai school system.

The purpose of this paper is to answer the question “will China overtake the USA in the space race?” This paper reviews China’s recent progress in aerospace while developing a wind theory of change to underline the geographic spread of various empires over the past thousand years, a topic studied by one of China’s most prestigious historians, Sima Qian, with a specific interest in 2,500 years of the rise and fall of Chinese kingdoms. Based on the wind theory, China is geared to overtake the USA in the twenty-first century space race. Historically, Chinese have always been fascinated with outer space, and it is felt by many Chinese that the USA, despite its current lead in the field, should work with China to explore outer space.

This paper introduces the philosophy and methodology of Sima Qian for Chinese management, in particular his analytical approach and drawing of lessons from past cases (dynasties) for managing the future which can be considered clearly reminiscent of the Harvard case approach. Evolving from this broad study of patterns by Sima Qian, a wind theory methodology is suggested using an overview of patterns over vast stretches of time, in this case from the Tang dynasty. Etymological analyses are embarked upon to illustrate how the ancient Chinese were interested in learning more about the outer space. Conceptual models are developed to map the current nascent space industry.

After outlining the current developments made by China in aerospace, the overall analysis suggests the following: based on the wind theory of change, China will overtake the USA even in race into space. Given their historical fascination with outer space, Chinese are likely to enter the business of space at the opportune time. When will that be? Most likely when appropriate technologies have been developed, in particular developing safe moon tours for tourists.

Suggests a futuristic look at the space industry that China can enter the market at the opportune time. With their long-term fascination with outer space, China may potentially be the largest market for those in space business.

Introduces a new idea of looking into the future possibilities as embedded in the wind theory of change: the geographical patterns in the rise and fall of empires. If this pattern holds, China will overtake the USA including in the race for outer space. For the first time, this paper draws the relevance of Sima Qian’s analytical, case-based methods for management.

Asset‐backed securitization (ABS), which was brought into China in 2005 and followed by a rapid expansion, is an important financial instrument for real estate industry. The purpose of this empirical study is to assess the effects of asset securitization on stock market and equity holders' wealth by examining stock price changes upon securitization transactions in China from 2005 to September 2008.

Event study is implemented to test the wealth effects of ABS on shareholders. First, normal stock returns of companies with ABS issuance during the studied period are introduced by running the market model regression; excess returns to stockholders at the time that the securitization became public knowledge are then examined; finally, significance of the excess returns are tested and influencing factors including firm and transaction characteristics are discussed.

This paper finds that securitization generally does not have significant impact on wealth of stockholders; a considerable number of securitizations are even wealth destroying. The paper interprets these findings to mean that securitization is usually a negative signal to the stock market for first‐time securitizers, but indifferent or positive for frequent securitizers. Additionally, wealth effect of securitization on stockholders also largely depends on its underlying assets.

The outcome of this paper will assist companies, banks, and governments in understanding the effects of asset securitization, thus maximizing gains from securitization and enacting suitable polices and regulations. The paper suggests that companies and governments should examine market conditions and promote securitization only when the market is calm. Additionally, first‐time issuers of asset securitization should be cautious of possible losses caused by signs of the firm's insufficient funding, while subsequent issuance can be regarded as a relatively safe financial instrument.

The purpose of the present study is to examine how local consumers disassociate themselves from migrants' acculturative practices and negotiate their identity through the symbolic consumption of fashion.

Data for this interpretive study were obtained via phenomenological interviews with locally-born Chinese youth in Guangzhou, China, to examine their acculturative consumption practices as well as their subjective experiences of perceived threats to their lifestyle imposed by the influx of outsiders. Snowballing and purposive sampling methods were adopted in recruiting the research participants.

Data analyses revealed that local consumers adopt three dissociative strategies (stigmatization, avoidance and self-assertion) in order to ascribe meanings to their fashion consumption practices as a means of resolving identity conflicts and differentiate themselves from the migrant consumers.

This research offers a single perspective (i.e. that of local-born young consumers residing in Guangzhou) on the locals' attitudes aimed at distinguishing and negotiating their identities in an intercultural setting via specific fashion-clothing choices. This research has theoretical implications for the consumer acculturation theory and identity negotiation.

Findings yielded by the present study have important implications for commercial companies focusing on fashion consumption, in particular for marketing practices aimed at rural-urban identification and youth market segmentation.

This study contributes to the existing discussion on consumer acculturation by offering an intracultural perspective to the understanding of local consumers' responses to migrants' acculturation. It also provides managerial insights for fashion retailers, prompting them to rethink their market segmentation strategies to address population mobility in the marketplace and better understand how it alters the in-between social relationships that result in different consumption patterns and practices.

This study contributes to the existing discussion on youth consumer acculturation theories by offering an intercultural perspective to the understanding of local consumers' responses to migrants' acculturation attempts. It also offers managerial insights for fashion retailers, prompting them to rethink their market segmentation strategies to address population mobility and better understand how it alters the social relationships that result in different consumption patterns and practices.