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This chapter examines the changing state–university–student relationships in post/socialist China since the late 1980s. We begin with an introduction to four salient themes in scholarship on Chinese post/socialism that are highly relevant to higher education: globalization, gradualism, civic society, and a critique of holism. These themes help us explain interrelated educational trends that affect the state–university–student relationship: the globalization, “massification,” and stratification of higher education; the redefined role of the state in university governance and management; higher education marketization and privatization; and the quest for meaning and (e)quality in and through higher education. Our general argument is that during the “socialist” period the main relationship central to higher learning was between the state and students. Universities were agents of the state; from a legal point of view, indeed, universities did not have an independent status from the state. In the “post-socialist” era the university–student relationship has become more significant. We examine this reconfiguration through two case studies, one on the development of college student grievance and rights consciousness, and the other on reforms in higher education student services administration. When looked at from the point of view of the state, we see that appropriation and implementation of policies and regulations shaping student rights and services are in partial contradiction with state policies to accelerate economic growth and bolster party authority. From the point of view of universities, we see institutions grappling with how to deliver on forward-looking structures and actions while navigating between the state's policy mandates and growing expectations and demands of its student and business stakeholders. From the point of view of students, we see how constrained agency, uncertainty, and the power of the credential motivates social praxis. At all levels of the state–institution–student relationship actors are employing a kind of pragmatic improvisation (one of the salient features of post/socialism) captured by the well-known Chinese proverb “groping for stones to cross the river.” This saying is an apt metaphor for the tentative searching by state, institution, and individual for a safe foothold in the post/socialist world.

Initial public offering (IPO) underpricing remains a puzzle after decades of investigation. The stock markets in emerging economies are attractive to international investors but their unique characteristics need to be examined. Chinese stock markets experienced much more significant IPO underpricing than most other stock markets in the world. This paper offers a two-period wealth maximum model to explain the strategic IPO underpricing by state owners. Given the fact that the entire IPO procedure, including IPO price, is regulated and controlled by state owners, we argue that state owners strategically underprice the IPO, because they care less about the IPO proceeds but more about the wealth gain after IPO. The empirical finding of a positive relationship between IPO underpricing and state ownership in Chinese stock market is consistent with the wealth maximization hypothesis of IPO pricing. The paper offers better understanding for IPO procedure of state-owned enterprises in emerging markets.

There are ten universal principles of United Nations Global Compact in four areas namely human rights, labour, environmental and anti-corruption, and this chapter will explore the sixth principle of labour standard on elimination of discrimination in employment and occupation, in particular the doctrine of constructive dismissal in Malaysian labour relations. Constructive dismissal is creating a new challenge in labour relation in Malaysia.

This chapter specifically analyses some of the constructive dismissal awards and its implication to labour relations in Malaysia. The methodology employed in this chapter is the analysis of case laws using criterion-based sampling from the Industrial and Superior Court awards on constructive dismissal.

There has been an increasing number of awards on constructive dismissal made by the Malaysian Industrial Court over the last nine years. From the year 2009–2013, the Industrial Court has made 663 awards on constructive dismissal, mostly against employers. With compensation awarded to each employee amounted to as much as 24 months of back-pay salary plus a month’s pay for every year of service, employers can no longer neglect this pressing issue.

The concept of constructive dismissal falls within the purview of section 20 of the Industrial Relations Act 1967 in Malaysia. Constructive dismissal is a ‘deemed dismissal’ if an employer is guilty of a breach of the employment contract which goes to the root of the contract. It arises when a workman terminates his/her contract of employment and considers himself/herself discharged from further obligations because of the employer’s conduct.

With a good understanding of the constructive dismissal awards, it is expected that organizations will manage and treat their human resources as their greatest assets and prevent constructive dismissal claims from taking place. This will eventually help to improve and maintain harmonious labour relations. This chapter is likely to provide insights into the Malaysian labour relations environment for international business operations.

In the context of Malaysian labour relations, studies on constructive dismissal are limited as it is considered as a new area and a specific area of study. This chapter therefore hopes to fill the existing gap in the literature, to highlight some of the recent awards and lessons to prevent constructive dismissal claims from taking place and generally to contribute to the constructive dismissal literature.

This chapter examines the development of accounting thought and practices in China with the purpose of illustrating its relevance to current accounting policies and practices. The review indicates that changes in accounting in China did not usually occur completely and easily. Over the past three decades, while Chinese accounting has gradually moved toward the Anglo-American model, convergence has presented unique features in China. For example, the review suggests that the accounting reforms in China have been heavily government-driven and that uniform accounting systems still remain. Chinese regulators maintain a cautious attitude toward the application of fair value and professional judgment, which are essentially the center of the Anglo-American accounting system. Furthermore, Chinese accounting regulators have a different view of business combinations from the IASB and have developed alternative accounting methods for those transactions. China’s departure from IFRS reflects its politico-economic context and essentially challenges the IASB’s goal of achieving international accounting convergence. China’s approach to internationally acceptable practices is likely to have implications for the effectiveness of the imported ideas.

We analyze the economic consequence of government intervention on the incidence of accounting fraud and audit fees of both Big 4 and local big auditors on Chinese audit market in the period 2006–2013. In 2009, Chinese government issued favorable polices to local big auditors and required certain Chinese companies to give priority to these auditors. We find that market share of Big 4 auditors is quite stable before and after government intervention, but market share of local big auditors increases at the cost of local small auditors after intervention. Although audit fee premiums of both local big and Big 4 auditors have increased after intervention, the positive effect of local big auditors on audit fee premiums has significantly decreased. Further, both Big 4 and local big auditors are not likely to reduce the incidence of accounting fraud in pre- and post-intervention period. Our results suggest that Chinese government support to local auditors does not significantly enhance these auditors’ competitiveness in terms of audit fee and audit quality.

EU countries, including those in Central and Eastern Europe, seem to have increasingly similar economies, allowing for the study of real convergence as a process of equalising income levels (measured by GDP per capita). Studies of income convergence in the European Union also have a regional dimension and often focus on convergence at the NUTS2 or NUTS3 regional level. The level of development and income in Polish regions differ significantly. The regional policy implemented at the national and EU level focuses on reducing these differences.

The main aim of the chapter is to analyse the income convergence process among regions in Poland and verify the effectiveness of regional policy implemented at the national and EU level.

The study uses Barro type regression for panel data, log t convergence test, and club clustering algorithm introduced by Phillips and Sul to identify patterns of club convergence in Polish regions. The data used for the study is the Local Data Bank provided by Statistics Poland, which includes gross domestic product per capita at the NUTS-3 level for 73 Polish regions over the period of 2000–2020.

The results of the study indicate a very weak convergence process for all Polish NUTS-3 regions and suggest a club convergence. The club convergence is characterised by regions with similar income levels clustering together. The regional distribution of clubs is similar to the regional distribution of income. The study's findings provide important insights into the effectiveness of regional policy in Poland and suggest that policymakers need to focus on policies that promote catch-up growth in less developed regions. The study also highlights the importance of supporting the most developed regions in the country as they can play a crucial role in driving the country's economic growth and prosperity.