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Article
Publication date: 13 June 2016

Lei Xu, Ron P. McIver, Yuan George Shan and Xiaochen Wang

The purpose of this paper is to link literature on China’s real estate sector and the impact of governance, ownership and political connectedness on firm financial performance…

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Abstract

Purpose

The purpose of this paper is to link literature on China’s real estate sector and the impact of governance, ownership and political connectedness on firm financial performance. Whether these factors impact listed real estate firms differently to firms in other industry sectors is identified.

Design/methodology/approach

The paper uses pooled 2008-2013 data on A-share firms. Tobin’s Q captures firm financial performance. Explanatory variables include corporate governance, ownership, local government political connectedness, accounting data and ultimate control. Two-way interactions are estimated between real estate and ownership, governance, political connectedness and other variables. Three-way interactions are estimated between real estate, ownership, control and political connectedness. Year and industry fixed effects are absorbed.

Findings

Industry concentration and proportion of state ownership appear to positively impact performance. Firm size, gearing and greater foreign ownership appear to negatively impact performance. However, differences are identified for real estate firms, in which state control and gearing positively impact performance. Greater state and foreign ownership as well as supervisory board size negatively impact performance. Finally, state control in the presence of local government connections negatively impacts performance, while greater state ownership in the presence of local government connections positively impacts performance.

Originality/value

A lack of empirical evidence on the impact of corporate governance, ownership structures and political connectedness on firm performance in China’s real estate sector is addressed. Importantly, relationships among these factors and the financial performance of China’s listed real estate firms differ to those of firms in other industries.

Details

Managerial Finance, vol. 42 no. 6
Type: Research Article
ISSN: 0307-4358

Keywords

Article
Publication date: 4 June 2018

Shan Xu, Yanling Wang and Jiafei Jin

The main purpose of present study is to investigate how familial collectivism and gender affect the psychological contract violation–turnover intention relationship by comparing…

Abstract

Purpose

The main purpose of present study is to investigate how familial collectivism and gender affect the psychological contract violation–turnover intention relationship by comparing Chinese with American samples.

Design/methodology/approach

In total, 688 and 892 full-time workers were recruited, respectively, from China and the USA to form the two samples. Then, three-way interaction regression models were used to test the hypotheses.

Findings

The results indicate that familial collectivism will negatively moderate the psychological contract violation–turnover intention relationship in the Chinese sample and positively moderate their relationship in the American sample. Moreover, the moderating effect of familial collectivism on the relationship between psychological contract violation and turnover intention is significant among the male employees and insignificant among the female employees for Chinese sample. Whereas for the American sample, the moderating effects are significant among both the male and the female employees.

Originality/value

This study improves the theoretical model of Turnley and Feldman (1999) by examining the moderating effect of familial collectivism and gender differences on the relationship between psychological contract violation and turnover intention. And two samples (China vs the USA) are used in the study, which helps to explain the possible difference in influencing the relationship between psychological contract violation and turnover intention between two nations. The main practical implication for managers is that organizations should recognize the importance of the gender role and individuals’ culture orientation when implementing different human resource management policies.

Details

Nankai Business Review International, vol. 9 no. 2
Type: Research Article
ISSN: 2040-8749

Keywords

Article
Publication date: 24 February 2020

Syed Far Abid Hossain, Mohammad Nurunnabi, Khalid Hussain and Xu Shan

This paper aims to explore the ubiquitous role of the smartphone in expanding entrepreneurial opportunity among women in emerging Asia. This study attempted to explore the hidden…

Abstract

Purpose

This paper aims to explore the ubiquitous role of the smartphone in expanding entrepreneurial opportunity among women in emerging Asia. This study attempted to explore the hidden issues behind increased innovative entrepreneurial tendency.

Design/methodology/approach

This study used a mixed research methodology. First, prior research based on different aspects of entrepreneurial tendency was reviewed in a systematic way. Second, a person-administered survey was conducted based on 265 women who are involved in entrepreneurial activities in different regions in Asia. Structural equation modeling (Amos) is used to analyze the person-administered survey.

Findings

Results show a significant relationship among the independent and dependent variables of the study which indicates a significant entrepreneurship opportunity for women in emerging Asia.

Research limitations/implications

This study was conducted with a limited number of entrepreneurs from a few Asian countries which may affect the generalizability of the result.

Originality/value

This study fulfills the gap in the current literature by analyzing innovativeness in entrepreneurship with the usage of smartphones and increased tendency among women to conduct business.

Details

International Journal of Gender and Entrepreneurship, vol. 12 no. 2
Type: Research Article
ISSN: 1756-6266

Keywords

Open Access
Article
Publication date: 29 March 2024

Runze Ling, Ailing Pan and Lei Xu

This study examines the impact of China’s mixed-ownership reform on the innovation of non-state-owned acquirers, with a particular focus on the impact on firms with high financing…

Abstract

Purpose

This study examines the impact of China’s mixed-ownership reform on the innovation of non-state-owned acquirers, with a particular focus on the impact on firms with high financing constraints, low-quality accounting information or less tangible assets.

Design/methodology/approach

We use a proprietary dataset of firms listed on the Shanghai and Shenzhen Stock Exchanges to investigate the impact of mixed ownership reform on non-state-owned enterprise (non-SOE) innovation. We employ regression analysis to examine the association between mixed ownership reform and firm innovation.

Findings

The study finds that non-state-owned firms can improve innovation by acquiring equity in state-owned enterprises (SOEs) under the reform. Eased financing constraints, lowered financing costs, better access to tax incentives or government subsidies, lowered agency costs, better accounting information quality and more credit loans are underlying the impact. Additionally, cross-ownership connections amongst non-SOE executives and government intervention strengthen the impact, whilst regional marketisation weakens it.

Originality/value

This study adds to the literature on the association between mixed ownership reform and firm innovation by focussing on the conditions under which this impact is stronger. It also sheds light on the policy implications for SOE reforms in emerging economies.

Details

China Accounting and Finance Review, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1029-807X

Keywords

Book part
Publication date: 1 January 2014

Filip Fidanoski, Kiril Simeonovski and Vesna Mateska

Many organizations around the world currently are facing board diversity issues and challenges. Hence, this empirical paper investigates the relationship between board diversity…

Abstract

Many organizations around the world currently are facing board diversity issues and challenges. Hence, this empirical paper investigates the relationship between board diversity and firm’s financial performance. We use a sample of 35 companies from five countries in Southeast Europe (Macedonia, Croatia, Serbia, Bosnia and Herzegovina, and Greece) for the period between 2008 and 2012 to find that, on average, companies with well-educated board members are more profitable and overvalued on the market. When running the regression again to test the levels of heterogeneity, we also find that the companies with more women on board tend to be overvalued on the market, while those with more foreigners on board are subject of undervaluation. The paper mostly contributes to the literature on corporate governance and board diversity. First, we postulate the impact of each of the board diversity variables on the financial performance and then show the extent of this impact and its economic interpretation. Our findings have important practitioners’ implications for corporate regulators and policy-makers since the demonstrated positive impact of the well-educated board members on firm’s financial performance gives a new impetus in building a corporate strategy that will intend to engage more people holding PhD on board.

Details

Corporate Governance in the US and Global Settings
Type: Book
ISBN: 978-1-78441-292-0

Keywords

Article
Publication date: 22 June 2022

Ella Guangxin Xu, Joey W. Yang, Yuan George Shan and Chris Graves

This study investigates effects of corporate governance on the financial performance of family-controlled firms and how these effects differ between common law and civil law…

Abstract

Purpose

This study investigates effects of corporate governance on the financial performance of family-controlled firms and how these effects differ between common law and civil law jurisdictions.

Design/methodology/approach

This study applies a number of corporate governance measures to the largest 243 publicly listed family-controlled businesses worldwide from 2009 to 2018. The corporate governance measures include board independence, board gender diversity, corporate governance index (CGI) and the percentage of family ownership.

Findings

The empirical evidence indicates that board independence improves financial performance; this positive effect is more pronounced in common law than civil law jurisdictions. Board gender diversity has a negative impact on financial performance under common law but a positive impact in civil law jurisdictions. Moreover, the CGI and family ownership structure are positively associated with financial performance, and no difference is found between the two jurisdiction types. In addition, family ownership negatively moderates CGI in civil law countries only.

Originality/value

This study provides new insight on the relevance of considering jurisdictional differences when examining the effect of corporate governance on performance. The study also addresses important concerns in family business research relating to unobserved heterogeneity and endogeneity. Implications of these for research and practice are discussed in the paper.

Details

International Journal of Managerial Finance, vol. 19 no. 3
Type: Research Article
ISSN: 1743-9132

Keywords

Article
Publication date: 21 December 2021

Yunpu Zhang, Gongguo Xu and Ganlin Shan

Continuous and stable tracking of the low-altitude maneuvering targets is usually difficult due to terrain occlusion and Doppler blind zone (DBZ). This paper aims to present a…

Abstract

Purpose

Continuous and stable tracking of the low-altitude maneuvering targets is usually difficult due to terrain occlusion and Doppler blind zone (DBZ). This paper aims to present a non-myopic scheduling method of multiple radar sensors for tracking the low-altitude maneuvering targets. In this scheduling problem, the best sensors are systematically selected to observe targets for getting the best tracking accuracy under maintaining the low intercepted probability of a multi-sensor system.

Design/methodology/approach

First, the sensor scheduling process is formulated within the partially observable Markov decision process framework. Second, the interacting multiple model algorithm and the cubature Kalman filter algorithm are combined to estimate the target state, and the DBZ information is applied to estimate the target state when the measurement information is missing. Then, an approximate method based on a cubature sampling strategy is put forward to calculate the future expected objective of the multi-step scheduling process. Furthermore, an improved quantum particle swarm optimization (QPSO) algorithm is presented to solve the sensor scheduling action quickly. Optimization problem, an improved QPSO algorithm is presented to solve the sensor scheduling action quickly.

Findings

Compared with the traditional scheduling methods, the proposed method can maintain higher target tracking accuracy with a low intercepted probability. And the proposed target state estimation method in DBZ has better tracking performance.

Originality/value

In this paper, DBZ, sensor intercepted probability and complex terrain environment are considered in sensor scheduling, which has good practical application in a complex environment.

Article
Publication date: 18 May 2022

Shidi Dong, Lei Xu and Ron P. McIver

Based on institutional theory, this paper aims to examine whether, and if so which, institutional forces influence the quality of China’s listed financial institutions’ (FIs…

1161

Abstract

Purpose

Based on institutional theory, this paper aims to examine whether, and if so which, institutional forces influence the quality of China’s listed financial institutions’ (FIs) sustainability disclosures.

Design/methodology/approach

Using univariate statistical and multiple regression analyses, this study quantitatively examines the impacts of coercive pressure from the government and stock exchanges, imitation within subsectors and normative pressure from industry associations and regulators on the quality of China’s listed FIs’ sustainability disclosures. Assessment of the robustness of regression results uses panel random-effects and generalized methods of moments estimation.

Findings

Financial sector corporate social responsibility (CSR) disclosure quality did not increase dramatically following issue of the “Guiding Opinions on Establishing a Green Finance System.” However, a convergence in quality is found over time. State ownership concentration and state links to dominant shareholders negatively impact the quality of financial sector sustainability disclosures, whereas stock exchange index listing requirements and industry association reporting guidance have positive influences.

Research limitations/implications

First, data availability limits the sample to listed financial firms with RKS quality scores. Thus, results may not be generalizable to the broader listed and unlisted financial sector. Second, this study only examines the influence of external forces based on institutional theory. However, internal institutional forces, such as corporate governance, may require examination. This study’s results indicate that coercive pressure, as represented by issue of the “Green Finance” policy, has not yet prompted the financial sector to improve reporting quality; however, normative pressure has had significant influence in influencing FIs’ CSR practices, with China’s banks potentially taking a leading role.

Originality/value

The financial sector has a lower direct environmental impact than traditional polluting industries and different operating and reporting structures, features often used to argue for its exclusion in prior studies. However, its indirect environmental impact via lending and investing activities is significant, suggesting evidence on the determinants of sustainability disclosure quality is required. This study uses evidence from China’s financial sector to reduce this gap in the literature.

Details

Meditari Accountancy Research, vol. 31 no. 5
Type: Research Article
ISSN: 2049-372X

Keywords

Article
Publication date: 6 October 2020

Shidi Dong, Lei Xu and Ron McIver

This paper aims to provide a longitudinal analysis of influences on China’s financial sector’s sustainability reporting practices, examines “green finance” disclosures and…

2052

Abstract

Purpose

This paper aims to provide a longitudinal analysis of influences on China’s financial sector’s sustainability reporting practices, examines “green finance” disclosures and undertakes subsector comparisons. The state’s impact on the quantity and quality of reporting practices is analyzed.

Design/methodology/approach

Content analysis is used to examine the volumes, frequency and content of sustainability disclosures by China’s financial institutions. Survival analysis is used to identify factors significant in firms’ initiation of these disclosures. In total, 308 firm-year observations on disclosures are examined for 2007–2016.

Findings

China’s financial sector’s sustainability reporting pieces of evidence an “emerging stage” (2007–2009), “developing stage” (2010) and “greening stage” (2011–2016). The roles of institutional theory and regulatory pressure in explaining Chinese financial firms’ reporting behaviours are supported.

Research limitations/implications

This study has several limitations. Firstly, given data restrictions, use of a relatively small sample size. Secondly, it examines different categories of disclosures made by financial firms, not more detailed content. Thirdly, is the potential overlap in disclosure themes under the classification scheme.

Practical implications

China’s financial sector’s adoption of sustainability reporting has been institutionalized, mainly in its banking subsector, consistent with general regulatory pressures.

Social implications

“Greening the finance system” is examined in China’s context, as the country transforms from a resource and pollution-intensive to a green economy.

Originality/value

The financial sector is normally excluded from in-depth qualitative research. This study examines China’s financial sector’s responses to recent governmental pressures on green finance disclosures.

Details

Sustainability Accounting, Management and Policy Journal, vol. 12 no. 2
Type: Research Article
ISSN: 2040-8021

Keywords

Article
Publication date: 2 July 2020

Ce Pang and Ganlin Shan

This paper aims to introduce a new target tracking method based on risk theory in a 2-D discrete environment. After that, the related sensor scheduling method is proposed. This…

Abstract

Purpose

This paper aims to introduce a new target tracking method based on risk theory in a 2-D discrete environment. After that, the related sensor scheduling method is proposed. This can make up the blank of target tracking and sensor management in the 2-D discrete environment.

Design/methodology/approach

The definition of risk is proposed based on risk decision theory firstly. Then the target tracking model in a two-dimensional discrete environment is built. The motion state updating and estimation method of target’s motion state based on Bayes theory is given. Thirdly, the method of computing sensor emission interception risk is provided. Afterwards, the optimization rule of obtaining the minimum risk is followed to model the sensor scheduling objective function. The lion algorithm is adjusted and improved combined with Chaos theory to generate the optimal sensor management projects.

Findings

The risk-based sensor target tracking method and sensor management method are both effective in a 2-D discrete environment.

Originality/value

To the best of the authors’ knowledge, this paper is the first to study the target tracking method and sensor scheduling method in a 2-D environment. Furthermore, the lion algorithm is improved combined with Chaos theory to show a better optimization performance.

Details

Engineering Computations, vol. 37 no. 9
Type: Research Article
ISSN: 0264-4401

Keywords

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