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Article
Publication date: 7 July 2020

Maretno Agus Harjoto and Yan Wang

Drawing from social capital, social network theory of stakeholder influence and stakeholder management, the purpose of this paper is to examine the relationship between…

Abstract

Purpose

Drawing from social capital, social network theory of stakeholder influence and stakeholder management, the purpose of this paper is to examine the relationship between board network centrality and firms’ environmental, social and governance (ESG) performance.

Design/methodology/approach

Using social network analysis, the authors construct five board network centrality, namely, degree centrality (the number of connections), closeness centrality (distance among firms), eigenvector centrality (the quality of connections), betweenness centrality (how often a firm sits between two other firms) and the information centrality (the speed and reliability of information), as measures of board access for social capital and timely information.

Findings

Using a sample of non-financial firms listed in the UK FTSE 350 index from 2007 to 2018, the authors find that board networks, measured by degree, closeness, eigenvector, betweenness and information centrality, has positive influence on firms’ ESG performance. Furthermore, the findings show that there is a non-linear relationship between board networks and ESG performance, and this relationship is stronger in the sectors where firms that have high product market concentration and high percentage of women board members.

Originality/value

This study unveils that strong board network centrality brings higher social (reputational) capital and information advantages to the firm to effectively, timely and accurately deal with the pressures from stakeholders (stakeholder management), which leads to better ESG performance.

Details

Corporate Governance: The International Journal of Business in Society, vol. 20 no. 6
Type: Research Article
ISSN: 1472-0701

Keywords

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Book part
Publication date: 7 January 2015

This chapter examines China’s corporate governance and accounting environment that shapes the adoption of internationally acceptable principles and standards…

Abstract

This chapter examines China’s corporate governance and accounting environment that shapes the adoption of internationally acceptable principles and standards. Specifically, it examines international influences, including supranational organizations; foreign investors and international accounting firms; domestic institutional influences, including the political system, economic system, legal system, and cultural system; and accounting infrastructure. China’s convergence is driven by desired efficiency of the corporate sector and legitimacy of participating in the global market. Influenced heavily by international forces in the context of globalization, corporate governance and accounting practices are increasingly becoming in line with internationally acceptable standards and codes. While convergence assists China in obtaining legitimacy, improving efficiency is likely to be adversely affected given that corporate governance and accounting in China operate in an environment that differs considerably from those of Anglo-American countries. An examination of the corporate governance and accounting environment in China suggests heavy government involvement within underdeveloped institutions. While the Chinese government has made impressive progress in developing the corporate governance and accounting environment for the market economy, China’s unique institutional setting is likely to affect how the imported concepts are interpreted and implemented.

Details

Adoption of Anglo-American Models of Corporate Governance and Financial Reporting in China
Type: Book
ISBN: 978-1-78350-898-3

Keywords

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Book part
Publication date: 14 December 2018

Wenyi Xia, Kun Wang and Anming Zhang

This chapter reviews three main issues in the interactions between air transport and high-speed rail (HSR) in China, namely the interaction between low-cost carriers…

Abstract

This chapter reviews three main issues in the interactions between air transport and high-speed rail (HSR) in China, namely the interaction between low-cost carriers (LCCs) and HSR, HSR speed effect on airlines, and airline–HSR integration. Studies on these three aspects of airline–HSR interactions have yet been well reviewed, and our chapter aims to fill in this gap. In this chapter, we comprehensively survey literature on the topics, especially studies on Chinese markets that have recently witnessed major HSR developments (and have planned further large-scale HSR expansion in the coming years). Our review shows that, first, compared to full-service carriers, LCCs face fiercer competition from HSR. However, the expansion of HSR network in China can be better coordinated with LCC development. Second, HSR speed exerts two countervailing effects on airline demand and price (the “travel-time” effect and “safety” effect, respectively). Specifically, an HSR speed reduction can have a positive effect on airlines due to longer HSR travel time, but a negative effect on airlines due to improved perception on HSR safety. Third, airline–HSR integration can be implemented through cooperation between airlines and HSR operators and through co-location of airports and HSR stations and can have important implications for intermodal transport and social welfare.

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Article
Publication date: 25 November 2019

Yan Wang, Kaleemullah Abbasi, Bola Babajide and Kemi C. Yekini

This study aims to examine the extent to which board characteristics and ownership structure affect firm performance with specific focus on providing new empirical…

Abstract

Purpose

This study aims to examine the extent to which board characteristics and ownership structure affect firm performance with specific focus on providing new empirical insights following the revised corporate governance (CG) code 2012.

Design/methodology/approach

This study uses a sample of non-financial firms listed on Pakistan Stock Exchange (PSX)-100 index for the years 2011-2014. Firm performance is measured by accounting-based performance indicators (ROA and ROE) and market-based performance indicators (Tobin’s Q and MTB). This study uses multivariate regression techniques including fixed effects model and two-stage least squares (2SLS).

Findings

The findings show that board diversity increases over the two periods (pre-2012 and post-2012), whereas there are cases that companies have not fully complied with the revised CG code 2012 in terms of board independence. In addition, the multiple regression results show that firm performance is negatively and significantly associated with institutional ownership. Nevertheless, the results show that board size, board independent, board diversity and board meetings do not have significant impact on firm performance. The findings are fairly consistent and robust across two periods (pre-2012 and post 2012) and a number of econometric models that sufficiently address the potential endogeneity problems.

Originality/value

To the best of the authors’ knowledge, this is the first empirical study which investigates the impact of the compliance and implementation of 2012 CG code on firm performance in Pakistan. This study is different from the most prior studies in that they use independent non-executive directors rather than conventional non-executive directors to measure board independence.

Details

Corporate Governance: The International Journal of Business in Society, vol. 20 no. 1
Type: Research Article
ISSN: 1472-0701

Keywords

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Book part
Publication date: 7 January 2015

Abstract

Details

Adoption of Anglo-American Models of Corporate Governance and Financial Reporting in China
Type: Book
ISBN: 978-1-78350-898-3

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Article
Publication date: 13 February 2017

Agyenim Boateng, Min Du, Yan Wang, Chengqi Wang and Mohammad F. Ahammad

The purpose of this paper is to examine the trends, patterns and the impact of cultural and home country macroeconomic influences on Chinese cross-border mergers and…

Abstract

Purpose

The purpose of this paper is to examine the trends, patterns and the impact of cultural and home country macroeconomic influences on Chinese cross-border mergers and acquisitions (CBM&A) as foreign entry strategy for the period of 1998-2011.

Design/methodology/approach

Using three regression models, namely, ordinary least squares, the random effects and fixed effects to examine the impact of home country macroeconomic and cultural factors on CBM&A outflows as an entry mode of Chinese firms. The authors check the robustness of the results using system GMM.

Findings

The findings suggest that CBM&A as a preferred mode of market entry provides a means for obtaining strategic resources to develop competitive advantages for the Chinese emerging market firms. The regression results indicate that home country macroeconomic and cultural variables, including gross domestic product (GDP), liquidity, interest rates, inflation, acquisitions in resource seeking sectors and cultural distance play an important role in explaining the trends of CBM&A outflows by the Chinese firms.

Research limitations/implications

The results imply that government support to emerging market multinational enterprises (EMEs) to acquire strategic assets and economic policies in the home country play an important role in shaping international expansion behaviour of EMEs through CBM&A. The study demonstrates that outward investments of EMEs are partly a function of the level of economic policies and government support at home. The limitation is that most of the Chinese CBM&A transactions took place in Asia/Pacific locations. Future studies appear warranted if new data become available.

Originality/value

The study demonstrates how the institutions, strategic asset seeking with government support and economic policies in the home country play important role in shaping international expansion behaviour of emerging market enterprises through CBM&A thereby contributing to the political economy literature and institutional theory. More importantly, the study shows that the level of economic policies and development such as GDP, money supply, interest rates, inflation of the home country are important for EME growth in the international market.

Details

International Marketing Review, vol. 34 no. 1
Type: Research Article
ISSN: 0265-1335

Keywords

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Article
Publication date: 11 January 2011

C. Wang, P. Yan, S. Wang, X. Bai, J. Yuan, E. Yan and Z. Huang

The purpose of this paper is to investigate the preparation process and the photoluminescent properties of poly‐(phenylene vinylene) (PPV)/polyvinyl alcohol (PVA)/Ag2S…

Abstract

Purpose

The purpose of this paper is to investigate the preparation process and the photoluminescent properties of poly‐(phenylene vinylene) (PPV)/polyvinyl alcohol (PVA)/Ag2S composite nanofibres.

Design/methodology/approach

A simple method coupling electrospinning technology and in situ self‐assembly was used to prepare PPV/PVA/Ag2S nanofibres from the solution containing precursory PPV, PVA and silver nitrate (AgNO3). The photoluminescent properties of the PPV/PVA/Ag2S composite nanofibres were characterised by fluorescence microscopy and eclipse fluorescence spectrophotometer.

Findings

The Ag2S nanoparticles were well dispersed in the PPV/PVA/Ag2S composite nanofibres, and their dimension was in the range of 10‐40 nm. Excessive doping of Ag2S nanoparticles will lead to rough and uneven fibres' surface.

Research limitations/implications

The size of Ag2S nanoparticles in the fibres was not uniform enough and the orientation of composite nanofibres was hardly controlled.

Practical implications

The coupling of electrospinning technology and in situ self‐assembly opened a new gate for preparing other nanoparticles doped composite nanofibres.

Originality/value

The in situ growing of Ag2S nanoparticles in PPV nanofibre improved the excellent properties of composite nanofibres. The morphology of composite nanofibres can be efficaciously controlled via adjusting the ratio between AgNO3 and polymer. The obtained PPV/PVA/Ag2S composite nanofibres will have potential applications in nano‐optoelectronic devices.

Details

Pigment & Resin Technology, vol. 40 no. 1
Type: Research Article
ISSN: 0369-9420

Keywords

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Article
Publication date: 27 September 2019

Kemi Yekini, Ismail Adelopo, Yan Wang and Surong Song

The purpose of this study is to re-examine the factors that affect the level of environmental information disclosures (EID) following the issuance of the “Environmental…

Abstract

Purpose

The purpose of this study is to re-examine the factors that affect the level of environmental information disclosures (EID) following the issuance of the “Environmental Information Disclosure Guidelines for Chinese Listed Companies”.

Design/methodology/approach

The study is underpinned by stakeholder and legitimacy theories. Level of EID was measured for 100 Chinese companies using a scoring system and content analysis of their annual reports. The study explored the effect of ownership structure, managerial shareholding, economic power and industry classification on the level of EID using panel regression.

Findings

The study revealed that with clearly spelt out guidelines, Chinese companies are prepared to disclose environmental information regardless of their economic power. It was found that the overall level of EID in China remains lower than in developed economies. The findings are robust across several econometric models that sufficiently address various endogeneity problems.

Originality/value

This paper contributes to the existing literature by using new and updated data to re-examine the factors that affect the level of EID among Chinese listed companies. The study is important and timely as it covers the period 2014-2016, which is after the Chinese Government strengthened the enforcement of EID. It highlights the effects of new regulations and underscored areas that still require government attention to foster effective environmental protection.

Details

Accounting Research Journal, vol. 32 no. 3
Type: Research Article
ISSN: 1030-9616

Keywords

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Article
Publication date: 6 February 2019

Tingting Zhang, William Yu Chung Wang, Ling Cao and Yan Wang

Online shopping has continued to grow in popularity, and the advance of internet technology has enhanced customers’ experiences. One technology online retailers have been…

Abstract

Purpose

Online shopping has continued to grow in popularity, and the advance of internet technology has enhanced customers’ experiences. One technology online retailers have been using to increase sales is virtual try-on (VTO). The purpose of this paper is to investigate how such technology affects online consumers’ purchase decision process towards purchase intention, especially from an integration of utilitarian, hedonic and risk perspectives, by using advanced partial least square (PLS) approaches.

Design/methodology/approach

This study applied a web-based survey approach for data collection from online apparel retailing websites. The survey instrument was developed by adapting previously validated measurement items. The valid data collected were analysed using PLS with multi-group analyses. Advanced PLS techniques such as examination of discriminant validity using heterotrait-monotrait ratio, tests of out-of-sample prediction performance, and measurement invariance of composite models were applied.

Findings

The results of examining the proposed model reveal that customers’ attitude towards VTO technology can affect their intention to purchase a garment online, which is affected by perceived usefulness, perceived enjoyment and perceived privacy risk. Perceived ease of use is found to affect perceived usefulness and perceived helpfulness. The results also show no significant differences among age groups and genders in terms of the role of VTO technology in the full decision process towards online purchase intention.

Originality/value

This study enhances the understanding of the roles that VTO technology plays in consumers’ online purchase intention by providing an integrative view of its utilitarian value, hedonic value and risk. This study demonstrates the feasibility of applying advanced PLS techniques to investigate online consumer behaviour, particularly in the field of VTO application in online retailing. Implications for online retailers and designers of VTO technology are also derived from the findings.

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Book part
Publication date: 31 May 2016

Jia Yan, Xiaowen Fu, Tae Hoon Oum and Kun Wang

This chapter reviews the key results obtained in previous studies of airline mergers. It is found that the effect of mergers on airfares is dependent on the network…

Abstract

This chapter reviews the key results obtained in previous studies of airline mergers. It is found that the effect of mergers on airfares is dependent on the network configurations of merging airlines. Fare increases are frequently observed on overlapped routes. However, if the networks of two merging airlines are complementary, the expanded network after the merger leads to cost savings, increase in travel options, and improvement in service quality. Therefore, in a deregulated market, with few entry barriers, relaxing merger regulations is likely to improve welfare. However, most welfare evaluations do not incorporate quality changes or dynamic competition effects. Empirical investigations are primarily ex post analysis of mergers that have already passed antitrust reviews. The relationship between market concentration and welfare might be nonlinear and market specific. Therefore, airline mergers and alliances should be reviewed case by case. Methodological improvements are needed in future studies to control for the effects of complicating factors inherent in ex post evaluations.

Details

Airline Efficiency
Type: Book
ISBN: 978-1-78560-940-4

Keywords

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