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Do Political Connections Help or Harm Family Firms? An Audit Pricing Perspective The Chinese Economy Pub Date : 2024-03-12 Pat Yan Cheung, Tak Yan Leung
Past business ethics research highlights negative perceptions about corporate governance of family firms, and yet many auditors evaluate family businesses favorably and charge them lower audit fees...
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The Political Economy of Asian States and Their Development Strategies under USA-China Power Rivalry: Conducting Hedging Strategy on Triangular Relation and Operation The Chinese Economy Pub Date : 2022-11-17 Jenn-Jaw Soong
Abstract Since 2020, the rising economic competition and political rivalries have become intensive and austere between the United States and China. The formation of new global economic and political orders have started to establish a new era gradually under a USA-China hegemonic contest. As a consequence, Asian states have been enforced and reluctant to face the escalating and reshaping regional orders
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The Political Economy of Indonesia’s Development Strategy under China-USA Power Rivalry and Hegemonic Competition: A Middle Power with Its Hedging Strategy The Chinese Economy Pub Date : 2022-10-28 Muhamad Iksan, Jenn-Jaw Soong
Abstract In the new century, a growing power rivalry and contest between China and USA has significantly impacted the Asia-Pacific region. In turn, Indonesia has tried to avoid being caught in the middle between these two great powers. Among unanswered questions are how to respond to influences affecting politics and security and how to interact concerning economic cooperation and market integration
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The Political Economy of Vietnam and Its Development Strategy under China–USA Power Rivalry and Hegemonic Competition: Hedging for Survival The Chinese Economy Pub Date : 2022-10-28 Van-Hoa Vu, Jenn-Jaw Soong, Khac-Nghia Nguyen
Abstract The US–China confrontation has been undertaking a great change ever since the end of the Cold War. The two superpowers are embarking in a comprehensive confrontation in various spheres: trade, investment, technology, security, ideology, and so on. In order to avoid being a political pawn in the game of great powers, Vietnam consistently conducts the policy of non-taking side and hedging strategy
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Business Cycle Synchronization and Multilateral Trade Integration in the BRICS The Chinese Economy Pub Date : 2022-10-22 Yuwen Dai
Abstract Two decades have passed since the acronym BRIC was coined in 2001. The cooperation within the BRIC was formalized in 2009, and the BRIC expanded into BRICS after South Africa joined in 2010. To deepen economic cooperation within the BRICS, the progress of regional economic integration will affect the degree of business cycle synchronization within the region, which in turn will have an impact
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UK-China Trade and the J-Curve: Asymmetric Evidence from 68 Industries The Chinese Economy Pub Date : 2020-11-19 Mohsen Bahmani-Oskooee, Huseyin Karamelikli
Abstract Using monthly data over the period 2010M1-2018M12 we investigate the impact of the real yuna-pound rate on the trade balance of each of the 68 2-digit industries that trade between Britain and China. When a linear ARDL model was estimated, we found short-run symmetric effects in the trade balance of 45 industries that lasted into the long run only in 24 industries. Comparable numbers from
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UK-China Trade and the J-Curve: Asymmetric Evidence from 68 Industries The Chinese Economy Pub Date : 2020-11-19 Mohsen Bahmani-Oskooee, Huseyin Karamelikli
Abstract Using monthly data over the period 2010M1-2018M12 we investigate the impact of the real yuna-pound rate on the trade balance of each of the 68 2-digit industries that trade between Britain and China. When a linear ARDL model was estimated, we found short-run symmetric effects in the trade balance of 45 industries that lasted into the long run only in 24 industries. Comparable numbers from
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Firm Survival between Manufacturing and Non-Manufacturing Industries: Cultural Distance, Country Risk, Entry Mode, Market Size, Firm Age and Location The Chinese Economy Pub Date : 2020-02-27 Chuang Wang, Evangelos Giouvris
Abstract Survival in a foreign market is not always the same as in the home market. This study examines interaction effects between cultural distance, country risk, entry mode, firm age, investment location and market size on firm survival. A distant culture is related to a lower survival rate but the greater the market size and the older the firm, the less severe the effect. Wholly owned subsidiaries
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The Information Role of Comment Letters: Evidence from Institutional Investors’ Informed Trading The Chinese Economy Pub Date : 2019-12-12 Zhong-qin Su, Yuyang Xu
Abstract We use a unique data set of 6,954 firm-year observations to investigate the information content of comment letters released by the Shenzhen Stock Exchange (SZSE). The information role appears to be negatively associated with institutional investors’ informed trading. The comment letters, which increase more media coverage, decrease the institutional investors’ informed trading. Our results
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The Practice of Rotating Saving and Credit Associations and Interest Rate Liberalization—A Case Study of Wenzhou The Chinese Economy Pub Date : 2019-03-04 Rongzhu Ke, Min Ye
Rotating Saving and Credit Associations (ROSCA) is an important informal financial institution in developing economies. This article investigates the practice of ROSCA in Wenzhou as a case to explore how the interest rate is determined in a local credit market. We find that interest rates may vary across different purposes of credit demand (e.g., investment, insurance, or durable good consumption)
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Important Determinants of Foreign Company Performance in China: Big Data Analysis The Chinese Economy Pub Date : 2019-01-02 Chuang Wang, Evangelos Giouvris
Abstract Foreign market entry is important in market development. We examine entry timing/mode, investment, advertising, location, and interactive effects. Early entrants enjoy a high market share. The type of entry and initial investment also affect performance. Even though the effect of advertising on market share is significant, regardless of early/late entry, the effect is different, based on entry
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Research on the Performance Evaluation of Public Welfare Fund Based on DEA - Tobit Model: Chongqing Example The Chinese Economy Pub Date : 2018-03-04 Gao Jing, Liu Jing
Social transformation caused by the rapid development of the public welfare fund has become an important third party power of social governance. Chongqing city, is an example of a municipality directly under the central government and urban and rural reform pilot area and the public welfare fund has played an important role in resolving social contradictions and improving social governance capacity
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Contagion in International Stock Markets After the Subprime Mortgage Crisis The Chinese Economy Pub Date : 2018-03-04 Wei-Shun Kao, Tzu-Chuan Kao, Chang-Cheng Changchien, Li-Hsun Wang, Kuei-Tzu Yeh
The study focuses on utilizing a modified heteroskedasticity biased test for contagion based on cross-market correlation coefficients proposed by Forbes and Rigobon (2002) to find the evidence of contagion on 31 stock markets during the 2007 U.S. subprime mortgage turmoil. In contrast to the empirical results of Forbes and Rigobon (2002), which indicated that there was no contagion only interdependence
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Firm Performance and Country Development Fund The Chinese Economy Pub Date : 2016-07-03 Hung-Gay Fung
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The Offshore Renminbi Bonds: The Dim Sum and Formosa Bonds The Chinese Economy Pub Date : 2016-07-03 Hung-Gay Fung, Glenn Ko, Teresa Ling, Jot Yau
This study updates and compares the Dim Sum and Formosa bond markets: two major offshore RMB bond markets. The majority of Dim Sum bonds are not rated with most tenor in a range of two to three years while most Formosa bonds are rated with a maturity of three to five years. We also discuss future challenges and opportunities facing these two markets.
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Board Governance and Managerial Risk Taking: Dynamic Analysis The Chinese Economy Pub Date : 2016-03-03 Tingting Zhou, Wei-an Li
The allocation of investment dollars between R&D (high-risk investments) and capital expenditure (low-risk investments), as a reflection of managers’ inclination to take risks, is an important issue in the field of corporate governance and corporate finance because of the different interests and responsibility orientations of key stakeholders. Based on the endogeneity of board governance and managerial