Search results

1 – 10 of over 8000
Content available
Article
Publication date: 13 December 2019

Qunhui Huang and Yu Jing

In the 40 years of reform and opening-up toward a more rational micro-economic structure, the proportion of output of state-owned enterprises shows a declining trend. Over…

Downloads
1178

Abstract

Purpose

In the 40 years of reform and opening-up toward a more rational micro-economic structure, the proportion of output of state-owned enterprises shows a declining trend. Over the past decade, on one hand, the operational efficiency of state-owned enterprises has tended to be low as compared to other ownership enterprises; on the other hand, the asset–liability ratio of state-owned enterprises has risen against the trend, and still remains high under the recent national policy of “deleveraging.” The paper aims to discuss this issue.

Design/methodology/approach

This indicates that the inefficiency of state-owned enterprises that once hindered China’s economic development has not yet been fundamentally solved, and the task of deepening state-owned enterprises reform is still arduous.

Findings

In the process of establishing China’s modern economic system, there will be some “new state-owned enterprises” growing into world-class ones. This requires more effort in enhancing the capacity for independent innovation, improving the level of organizational control, expanding international market opportunities and fulfilling enterprise social responsibilities with high standards.

Originality/value

It is more appropriate for China to have a micro-economic structure in which public ownership predominates and diverse forms of ownership enjoy common prosperity and development.

Details

China Political Economy, vol. 2 no. 2
Type: Research Article
ISSN: 2516-1652

Keywords

To view the access options for this content please click here
Article
Publication date: 15 May 2009

Xuefeng Lu

This paper aims to comment upon the governance systems of state‐owned enterprises in Shanghai and to consider the adequacy or otherwise of those governance structures.

Downloads
1048

Abstract

Purpose

This paper aims to comment upon the governance systems of state‐owned enterprises in Shanghai and to consider the adequacy or otherwise of those governance structures.

Design/methodology/approach

The paper presents a study of existing governance arrangements and structures and considers areas for possible reform.

Findings

A sound corporate governance system is of great significance not only to the healthy development of enterprises but also for the enterprises to survive when they face the economic crisis. With the continuous spread of the world economic crisis, how to improve the corporate governance of state‐owned enterprises in Shanghai so that they can pass the financial crisis period safely has become one urgent and critical issue.

Originality/value

The study presents detail and reform areas for further reflection.

Details

International Journal of Law and Management, vol. 51 no. 3
Type: Research Article
ISSN: 1754-243X

Keywords

To view the access options for this content please click here
Article
Publication date: 2 November 2015

Peiwu Dong, Kai Qiao and Mei Yang

The purpose of this paper is to study the operational efficiency of aerospace industry in China and compare the difference in efficiency between the private aerospace…

Abstract

Purpose

The purpose of this paper is to study the operational efficiency of aerospace industry in China and compare the difference in efficiency between the private aerospace enterprises and the state-owned aerospace enterprises. This paper enriches the study on evaluating the operational efficiency of aerospace industry and develops the theory on aerospace industry management.

Design/methodology/approach

The sample comprises all the aerospace enterprises listed in the A share market for which financial data are collected from the RESSET for subsequent analysis. Data envelopment analysis (DEA) and Malmquist productivity index (MPI) are used to derive findings.

Findings

The paper finds both the scale and the technical level of the industry increased during the period, and this was mainly due to the growth of the state-owned enterprises. However, with the increase of scale, the total factor productivity of the sample decreased. This was mainly because the performance of the leading enterprises regressed. Overall, the operational efficiency of the industry was still relatively low. By comparing the private enterprises and the state-owned enterprises, this paper finds, in terms of scale, the private enterprises were far lower than the state-owned enterprises. However, as for operational efficiency, the private was more efficient, which indicates an imbalance in the development of the industry.

Originality/value

This paper explores the operational efficiency across the Chinese aerospace industry, a focus currently lacking in research, presenting an overview of the industry and examining the difference in efficiency between the private aerospace enterprises and the state-owned aerospace enterprises to provide policymakers and managers with some practical suggestions to promote the development of the industry.

Details

Chinese Management Studies, vol. 9 no. 4
Type: Research Article
ISSN: 1750-614X

Keywords

To view the access options for this content please click here
Article
Publication date: 6 November 2018

Junqing Yang and Hong Chen

This paper aims to examine whether rewards incentives of non-state-owned enterprises can settle the matters of motivation lack, strained labor relations and frequent…

Abstract

Purpose

This paper aims to examine whether rewards incentives of non-state-owned enterprises can settle the matters of motivation lack, strained labor relations and frequent labor-capital conflicts and realize co-win cooperation of workers, enterprises and the society.

Design/methodology/approach

Based on the data of 1,617 questionnaires in 257 enterprises, this research reveals the total rewards factors that affect the labor motivation of non-stated-owned enterprises in China and improve labor productivity by adopting the hierarchical linear regression analysis and multi-group path analysis, and establishes a new model of win-win cooperation between labor and capital and the society through the incentive function of these elements by stimulating the enthusiasm of workers, improving labor productivity, increasing profits, expanding capital accumulation and absorbing labor force.

Findings

The authors have discovered that in general the main incentives that stimulate the enthusiasm of employees are the factors of performance and recognition and development and career opportunity in total rewards. The factor of benefits also has a significant incentive effect on employees in the western area of China, migrant workers with lower education and male employees, but negative effect on the post-1990s employees in non-state-owned enterprises. However, the compensation factor should be used with caution when encouraging employees in eastern region and the post-1980s. The total rewards factors of development and career opportunities and the performance and the recognition and benefits should be used to motivate workers to improve labor productivity, increase corporate profits and absorb more labor force, which is a long-term solution to win-win cooperation between labor and capital and social sustainable development. It is an important way to increase profits and absorb more labor force by increasing employee’s human capital investment and improving labor proficiency of employees under age 45. The conclusions provide new effective management methods for non-state-owned enterprises in China.

Practical implications

As a consequence, it will encourage employees to improve labor productivity and increase profits and thus absorb more labor force, if we use these factors of performance and recognition, development and career opportunity and benefits integratedly, we will find a permanent solution that the two sides of the labor and management and the society enjoy a win-win cooperation.

Originality/value

The research will provide theoretical basis for non-state-owned enterprises to apply a new and effective management style so that we can establish a win-win cooperation between the labor and management. What’s more, the research will develop the Dual Economy Theory of Lewis and the employment theory of Keynes and will also provide a theoretical basis for the realization of Taylor’s harmonious industrial relations.

Details

Nankai Business Review International, vol. 10 no. 2
Type: Research Article
ISSN: 2040-8749

Keywords

To view the access options for this content please click here
Article
Publication date: 1 April 2006

Haisu Wang and Weidong Yang

The paper aims to examine the sufficient and necessary conditions upon which the innovative “partial shock model” was implemented in China.

Abstract

Purpose

The paper aims to examine the sufficient and necessary conditions upon which the innovative “partial shock model” was implemented in China.

Design/methodology/approach

The study employs a multi‐method approach, involving a case study of Wuhan city in 2004.

Findings

Evidence suggests that implementation of the partial shock model in state‐owned small and medium‐sized enterprises (SOSMEs) is not only essential, but also feasible. More than 1,000 enterprises in Wuhan have restructured properties, and hundreds of thousands of workers have changed their state‐owned identity, which has resulted in positive social and economic outcomes in SOSMEs.

Practical implications

The paper suggests that there is a need to combine business reorganisation with government's timely intervention so as to overcome potential problems such as unjust occupation of state assets and unfair distribution among different enterprises in the same city.

Originality/value

The paper explores the distinct Chinese experiences in reforms of SOSMEs, which is a relatively under‐researched area of entrepreneurship.

Details

Journal of Small Business and Enterprise Development, vol. 13 no. 2
Type: Research Article
ISSN: 1462-6004

Keywords

To view the access options for this content please click here
Article
Publication date: 19 October 2010

Orapan Khongmalai, John C.S. Tang and Sununta Siengthai

The primary objectives of this paper are to: develop a multi‐attribute pattern of the corporate governance model in Thai state‐owned enterprises; assess the relative

Downloads
3540

Abstract

Purpose

The primary objectives of this paper are to: develop a multi‐attribute pattern of the corporate governance model in Thai state‐owned enterprises; assess the relative importance of different corporate governance practices; and provide detailed information of each corporate governance practice.

Design/methodology/approach

Qualitative and quantitative approaches were used. A case study was conducted to gather information on specific corporate governance behaviors in Thai state‐owned enterprises. Then a questionnaire was developed and tested in 38 Thai state‐owned enterprises. Factor analysis was conducted to examine a common framework of corporate governance practices.

Findings

This research demonstrated the multi‐attribute nature of the corporate governance model in Thai state‐owned enterprises. According to this model, the most important corporate governance practice is strategic human resource management, followed by information technology, board of directors, risk management, internal control, and internal audit sequentially. Additionally, this study brings out insights into corporate governance practices that represent the specific characteristics of Thai state‐owned enterprises.

Research limitations/implications

This study is limited by the fact that the sample represents only Thai state‐owned enterprises. Further studies should be conducted to better understand the complexity of the multi‐attribute nature of the corporate governance model in state‐owned enterprises in developing countries.

Practical implications

Policy makers can utilize the multi‐attribute nature of the corporate governance model as a guideline for the further development of corporate governance practices in other state‐owned enterprises.

Originality/value

This study demonstrated the multi‐attribute nature of the corporate governance model in state‐owned enterprises in developing countries such as Thailand. This research confirms the broad principles of corporate governance as well as providing detailed information on corporate governance practices from a new perspective.

Details

Corporate Governance: The international journal of business in society, vol. 10 no. 5
Type: Research Article
ISSN: 1472-0701

Keywords

To view the access options for this content please click here
Article
Publication date: 31 May 2021

Renhuai Liu, Chao Li and Mengjun Huo

The purpose of this paper is to empirically analyze the impact of chief executive officer (CEO) turnover on strategic change and explore the mediating role of…

Abstract

Purpose

The purpose of this paper is to empirically analyze the impact of chief executive officer (CEO) turnover on strategic change and explore the mediating role of organizational slack between them, as well as the moderating role and joint moderating role of top management team (TMT) external social network, ownership nature and industry type.

Design/methodology/approach

Based on the upper echelons theory, resource allocation theory and structuration theory, this paper takes the unbalanced panel data of A-share listed companies in Shanghai and Shenzhen Stock Exchanges of China from 2001 to 2018 as the research sample, uses ordinary least squares (OLS) regression method and fixed effect model to study the relationship between CEO turnover and strategic change, and focuses on the mediating mechanism and moderating mechanism between them.

Findings

The authors find that CEO turnover is positively related to strategic change. When a CEO turns over, a new CEO will initiate strategic change. Precipitation organizational slack plays a mediating role between CEO turnover and strategic change. Non-precipitation organizational slack has no mediating effect between CEO turnover and strategic change, which is embodied as “suppressing effects.” When the non-precipitation organizational slack variable is controlled, the impact of CEO turnover on strategic change will be enhanced. TMT external social network, ownership nature and industry type all negatively moderate the relationship between CEO turnover and strategic change. TMT external social network and ownership nature have a joint moderating effect between CEO turnover and strategic change. When TMT external social network is small, CEO turnover has a positive effect on strategic change in both state-owned enterprises and non-state-owned enterprises, but the promotion effect is stronger in non-state-owned enterprises. When TMT external social network is large, the positive effect of CEO turnover on strategic change in state-owned enterprises is from strong to weak, but in the non-state-owned enterprises is from weak to strong. TMT external social network and industry type have a joint moderating effect between CEO turnover and strategic change. When TMT external social network is small, CEO turnover has a positive impact on strategic change in high-tech enterprises and non-high-tech enterprises, but the promotion effect is stronger in non-high-tech enterprises. When TMT external social network is large, the positive impact of CEO turnover on strategic change in high-tech enterprises is from strong to weak, but in the non-high-tech enterprises is from weak to strong.

Originality/value

On the basis of previous studies, this paper further expands the research scope of the mechanism of CEO turnover on strategic change, echoing the research arguments of relevant scholars. At the same time, the research results reveal the mechanism of organizational slack, TMT external social network, ownership nature and industry type in the relationship between CEO turnover and strategic change, and further deepen the application of upper echelons theory, resources allocation theory and structuration theory in China. In addition, the research conclusions of this paper also provide reference value for Chinese enterprises in carrying out strategic change, promoting enterprise transformation and improving the level of corporate governance, and help to enhance the understanding and attention of Chinese enterprises to CEO turnover, organizational slack, TMT external social network, strategic change and corporate governance under the background of high-quality economic development.

Details

China Finance Review International, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2044-1398

Keywords

Content available
Article
Publication date: 28 June 2019

Guidong Wang

With the increase of state capital, corporate total factor productivity (TFP) has a tendency to jump up at first and then slowly decrease. Generally, no significant…

Downloads
3273

Abstract

Purpose

With the increase of state capital, corporate total factor productivity (TFP) has a tendency to jump up at first and then slowly decrease. Generally, no significant “productivity paradox” can be observed in China’s manufacturing industry. With the increase of export density, corporate TFP also shows a trend of initial jump growth and subsequent slow decline. This paper aims to discuss these issues.

Design/methodology/approach

Using the 1996–2013 China Industrial Enterprise Database, this paper studies the monopolistic behavior of Chinese manufacturing enterprises through the measurement of TFP and corporate monopoly power.

Findings

Results show that China’s manufacturing monopoly enterprises are generally innovation-oriented rather than rent-seeking. However, there are certain differences between diversified types of monopoly enterprises: the ones with state capital are more inclined to innovate than those without, whereas the ones with export delivery value are more inclined to seek rent than those without.

Originality/value

Therefore, the government should implement differentiated policies for diversified types of monopoly enterprises, and do so in a targeted manner fully reflecting the containment of rent-seeking and the encouragement of innovation.

Details

China Political Economy, vol. 2 no. 1
Type: Research Article
ISSN: 2516-1652

Keywords

To view the access options for this content please click here
Article
Publication date: 8 August 2019

Yanyu Wang, Xin Su, Huan Wang and Renyu Zou

As the carrier of knowledge, intellectual capital plays a crucial role in technology capability. However, most of the previous studies focus on technological capability…

Abstract

Purpose

As the carrier of knowledge, intellectual capital plays a crucial role in technology capability. However, most of the previous studies focus on technological capability from a static perspective, rather than take dynamic technology capability into consideration. Based on this research gap, the purpose of this paper is to investigate the effects of intellectual capital and its sub-dimensions on dynamic technology capability, measuring by the factor scores of five technological input and output variables.

Design/methodology/approach

The authors combine the system dynamic method and empirical study to guarantee the internal and external validity. Specifically, the authors design the system dynamic model and simulation to analyze the system mechanism of intellectual capital and its sub-dimensions on dynamic technology capabilities from four cause and effect feedback loops. Then, the authors propose eight hypotheses based on this system dynamic model. In the empirical test phase, the authors employed a panel data set pertaining to Chinese manufacturing firms from 2007 to 2017, and adopted the fixed effect panel model according to Hausman test.

Findings

The authors find that intellectual capital efficiency (ICE) and its sub-dimensions (i.e. human capital efficiency, organizational capital efficiency and capital employed efficiency (CEE) have significantly positive impacts on dynamic technology capability. The results also show that the positive effects of ICE and OC on dynamic technology capability would be strengthened in state-owned enterprises compared with non-state-owned enterprises, while this moderation effect is weakened on the relationship between CEE and dynamic technology capability.

Originality/value

In this study, the authors first introduce the system dynamic method to explore the relationship of intellectual capital and dynamic technology capability, which is a valuable trial on combining system science and empirical study. Additionally, the authors continue to expand the dynamic technology capability from the intellectual capital perspective, and also find the moderating effect from the ownership aspect. It is beneficial to the theoretical development of intellectual capital and dynamic technology capability. Furthermore, the authors provide significant inspirations and implications for enterprise’s managers.

Details

Journal of Intellectual Capital, vol. 20 no. 4
Type: Research Article
ISSN: 1469-1930

Keywords

To view the access options for this content please click here
Book part
Publication date: 18 April 2011

Lan Jiang

China has achieved continuous economic growth and become more integrated with the global economy since the start of the current financial crisis in late 2008. As the…

Abstract

China has achieved continuous economic growth and become more integrated with the global economy since the start of the current financial crisis in late 2008. As the second largest economy in the world, China's political policies, economic and social development have influence on global economy. Attention has been paid worldwide to the current Chinese legal system, political policies and the development of economic reform since China entered the World Trade Organisation in November 2001. The corporate governance reform is the centre of the enterprise reform. In September 1999, The Fourth Plenum of the Chinese Communist Party's 15th central Committee identified that corporate governance is the core of the modern enterprise system. In recent years China has made significant progress in developing the foundations of a modern corporate system. There are more than 1,200 companies which have successfully diversified their ownership through public listing and 80% of small and medium size companies have been transformed into non-state-owned enterprises. More and more state-owned enterprises are on the way to transforming into corporations. China has formed a legal framework for corporate governance.

Details

Governance in the Business Environment
Type: Book
ISBN: 978-0-85724-877-0

1 – 10 of over 8000