Suchergebnisse

China's success in attracting the inflow of foreign direct investment (FDI) has been well documented. Less known is the initial success of China's "going out" strategy, which encourages domestic enterprises to participate in international capital market and to directly invest overseas. This article assesses the aggregate dynamics of China's outward FDI in a comparative prism. It traces the strategic shift of Chinese overseas investment in both arenas of government policy and corporate entrepreneurship. An emphasis is on the particularistic policies of the government and active responses of enterprises to the challenges and opportunities offered by globalization and the deepening reform. The article also discusses the strategic implications of emerging Chinese multinationals for their Western counterpart.

PurposeThis paper aims to investigate the corporate social responsibility (CSR) initiatives adopted by Chinese firms during the outbreak of COVID-19. Facing this unknown, unexpected and devastating disease, Chinese corporations demonstrated their CSR in different approaches. The purpose of this paper is to explore how CSR influences the decisions of the corporations that respond to a severe incident and how corporations can achieve their mission or strategic objectives by responding to a serious incident.Design/methodology/approachBased on secondary data and thematic analysis, this paper examines six Chinese corporations which are the leading firms in their respective industries.FindingsThis paper finds that firms adopted a mixed approach to conducting their CSR initiatives, including altruistic, strategic and citizenship CSR initiatives. This paper also confirms that strategic CSR initiatives were in line with the five dimensions of strategic CSR including centrality, specificity, proactivity, visibility and voluntarism. In addition, this paper also shows that a company could create its competitive advantage by carrying out CSR initiatives that are able to strengthen its value chain activities or the competitive context. This is based on the partnership built by the firms with their stakeholders to recognize the shared value.Practical implicationsThis paper shows the implication that business leaders should understood the role of a business in society and the importance of stakeholders' expectations. The underlying philosophy is that CSR could strengthen the resilience of society; business organizations need to operate in a healthy society.Originality/valueThis paper provides insights of Chinese corporations responding to a severe social incident. It highlights the strategic perspective of CSR initiatives and the linkage between CSR activities and a firm's competitive advantage.

The article offers a systemic, historical, and rigorous study of the transformation of Chinese corporate governance, focusing on its development from a totally administrative model, being one which relies on government and administrative power and imposes on corporations' controllers administrative duties and objectives, to a hybrid model which has both administrative and economic governance characteristics. The article assesses whether administrative power will hinder corporate governance transformation in China on its journey towards a sound and sustainable model. We opine that the government continues to have a key role to play in corporate governance in China which makes administrative interference and power something that is embedded in corporate governance regimes through public and political policies, law enforcement, and strategic management policies for corporations. The administrative involvement might sacrifice efficiency, and effective market and corporate responses. However, it is observed that it may bring comparative advantages for Chinese corporate governance in terms of supporting long term strategic planning and the set-ting of multiple goals for State Owned Enterprises (SOEs, hereinafter), with government interference producing immediate action in order to prevent market failure.

This study investigates the impact of government controlling ownership on the cost of debt of Chinese listed corporations. We find that corporations under government control have a lower cost of debt compared to corporations under private control, and that government ownership is most beneficial when firms exhibit financial distress, have high excess shareholder control, or operate in provinces with low institutional development. Our evidence that government ownership plays an important role in reducing Chinese firms' cost of debt may help explain why government involvement in business corporations remains prevalent in China after decades of economic reform.

This study investigates the impact of government controlling ownership on the cost of debt of Chinese listed corporations. We find that corporations under government control have a lower cost of debt compared to corporations under private control, and that government ownership is most beneficial when firms exhibit financial distress, have high excess shareholder control, or operate in provinces with low institutional development. Our evidence that government ownership plays an important role in reducing Chinese firms' cost of debt may help explain why government involvement in business corporations remains prevalent in China after decades of economic reform.

This study aims to understand how Chinese enterprises acted in Brazilian energy and telecommunication sectors in the past ten years and whether they would be leading to an increase in the asymmetries between Brazil and China. It argues that the asymmetries presented in the relations are due in large part to successful Chinese enterprises' strategies. Adapted from the source document.

Purpose
Real options theory posits that multinationality provides additional operating flexibility and helps firms reduce downside risk. This study aims to explore the effects of chief executive officer (CEO) characteristics on the downside risk implication of multinationality in Chinese multinational corporations (MNCs).


Design/methodology/approach
This study gathers a sample of Chinese MNCs from 2009 to 2020 and deploys a Tobit panel estimation model with fixed effects in the empirical analysis.


Findings
This study finds that multinationality has a significant negative effect on downside risk. The downside risk reduction effect of multinationality is stronger in firms led by older CEOs, women CEOs, CEOs with overseas experience or broader functional backgrounds or those with higher educational levels. Additionally, the above effects of CEO characteristics on the downside risk reduction effect of multinationality are more pronounced in firms with smaller top management team (TMT) sizes. Hence, the findings show that the multinational network constructed by Chinese MNCs could offer great operating flexibility, and CEO characteristics and the CEO–TMT interface play an important role in achieving real options flexibility from multinationality.


Originality/value
This study shows that multinationality could be an effective way for emerging market firms to reduce business risk. This study helps identify CEO characteristics that are associated with real option performance and emphasizes that CEO personal attitudes and abilities could influence the real options flexibility obtained from multinationality. This study also contributes to the understanding of micro foundations in international business by focusing on the role of CEO characteristics and the CEO–TMT interface in the downside risk implications of multinationality.

This study aims to understand how Chinese enterprises acted in Brazilian energy and telecommunication sectors in the past ten years and whether they would be leading to an increase in the asymmetries between Brazil and China. It argues that the asymmetries presented in the relations are due in large part to successful Chinese enterprises' strategies.

This study has probed into the insights of possible contributions to the overall organizational effectiveness that internal/employee communication may render, and also identified possible key factors that communication effects may hinge on. The result of this study reveals that the relationship between internal/employee communication and corporate effectiveness is more significant than what has previously been assumed. This study thereby suggests that as Chinese corporations prepare themselves to become viable 'game players' in the new world economy, sufficient attention must be paid to improving internal/employee communication. This study has also tested James Grunig's 'Excellence Theory' against Chinese corporations' move toward communication excellence in recent years. Closely examining Chinese corporations' communication structure and operation, this study has found that the integration of employee/internal communication into managerial structure and practice holds as one of the keys, proposing that corporate communicators shall become part of the organization's dominant coalition so as to insure communication excellence, leading up to overall organizational effectiveness. (J Contemp China/GIGA)

1. Introduction : a relational approach to Chinese SOE globalization -- 2. Retreat of the Chinese state : history of Chinese SOEs in West Africa -- 3. African embeddedness and vulnerable Chinese -- 4. African managers and workers : workforce localization and becoming a paternalistic employer -- 5. Chinese expats : social promotion and localization in West Africa -- 6. Competing for the "Chinese community" : Chinese managerial agency -- 7. Conclusion : second-class Chinese globalizations in West Africa.