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In 2019, the goal of developing a world-class open university through different stages was put forward by the Open University of China (OUC), which indicated that internationalization for Chinese open universities came to the agenda. However, international activities of open universities are different from those in conventional universities, and how to fulfill the goal of internationalization is a main issue faced by educators in Chinese open and distance education arena. This research aimed to identify ways of internationalization for the OUC system.

A survey was employed as a tool to get feedback from target audience. A questionnaire was released to academics, management staff and researchers to the 44 provincial open universities. A total of 501 samples were collected. Among them, 332 were from academics, which accounted for 66.27%, 152 were from school-level directors and 17 were from university-level leaders.

By analyzing the data collected in the survey, the study proposes four recommendations to fulfill the goal of internationalization for Chinese open universities and these include strengthening top-level strategies, building up professional teams, sharing learning resources and delivering upper-level programs.

The targets of this research were all staff at different levels in the central and local institutions; no students were included in the research. Therefore, this did not reflect a picture from the student perspective, and this will be improved in future research.

Since the establishment of the OUC in 1979, there has been no clear and systematic pathways for the development of internationalization of Chinese open universities. This research proposes a theoretical framework of internationalization for open universities and suggests a direction for future development.

Revenue management (RM) is a significant technique to improve revenue with limited resources. With the macro environment of dramatically increasing transit capacity and rapid railway transport development in China, it is necessary to involve the theory of RM into the operation and decision of railway passenger transport.

This paper proposes the theory and framework of generalized RM of railway passenger transport (RMRPT), and the thoughts and methods of the main techniques in RMRPT, involving demand forecasting, line planning, inventory control, pricing strategies and information systems, are all studied and elaborated. The involved methods and techniques provide a sequential process to help with the decision-making for each stage of RMRPT. The corresponding techniques are integrated into the information system to support practical businesses in railway passenger transport.

The combination of the whole techniques devotes to railway benefit improvement and transit resource utilization and has been applied into the practical operation and organization of railway passenger transport.

The development of RMRPT would provide theoretical and technical support for the improvement of service quality as well as railway benefits and efficiency.

This paper empirically examines whether the order of liability and preferred stock accounts presented on the balance sheet is consistent with how the stock market values their riskiness.

This paper measures a firm’s riskiness with idiosyncratic risk and employs the first-difference design to test the relation between idiosyncratic risk and the order of current liabilities, noncurrent liabilities and preferred stock, respectively. Further, the paper tests whether operating liabilities are viewed as riskier than financial liabilities. Finally, the authors partition their sample based on the degree of financial distress and investigate whether the results differ between the two subsamples.

The paper finds that current liabilities are viewed as riskier than noncurrent liabilities and preferred stock is viewed as less risky than current and noncurrent liabilities, consistent with the ordering on the balance sheet. Further, the paper finds that operating liabilities are viewed as riskier than financial liabilities. Finally, the authors find that total liabilities and preferred stock (redeemable and convertible classes) are viewed as riskier for distressed firms than for nondistressed firms.

The authors thoroughly investigate the riskiness of several classes of claims and document that the classification of liabilities and preferred stock classes is relevant to common stockholders for assessing their associated risk.