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We use the tools of transaction cost politics (TCP) developed from transaction cost economics and economic analysis, to analyze the business relationship building between the Hongkong and Shanghai Banking Corporation (HSBC), the largest and most successful foreign bank in China, and the Chinese government between 1949 and 1978. We demonstrate the value of the TCP-based approach to evaluating the specialized governance structure of commitment built on mutual dependency. In particular, we identify several transaction attributes that give rise to hazards: transaction uncertainty, the role of the government in the economy, and the strength of the supporting coalition. Our analysis also confirms that commitment built on the mutual dependency between the international company and the local authorities and between the international company's home country authorities and the local authorities did reduce the company's transaction costs by guarding against the local authorities' opportunism.

Key Features:Provides unique scientific understandings of the world-concerned problems from a physicist of penetrating thought and great intuitionDescribes the author's new theories that have great simplicity and superior predictive capacity with no complex mathematical equations and parametersPresents the author's predictions that have shown excellent agreements with observed data

Because of the excess demand for branch licences and the Chinese government's policy to effectively ration banking licences, this paper suggests explaining the allocation of branch licences by the objectives of the Chinese government rather than by the objectives of foreign banks. Consequently, it examines what factors determined the supply of branch licences to foreign banks in China at a micro level. This is in contrast with the existing literature that focuses almost exclusively on the demand for branch licences by foreign banks. To consider the supply of branch licences, we construct detailed data about each foreign bank's organisations in China. (J Contemp China/GIGA)

City governments around the world are developing and expanding how they connect to citizens. Technologies play an important role in making this connection, and one frequent way that cities connect with citizens is through 311-style request systems. 311 is a non-emergency municipal notification system that uses telephone, email, web forms, and increasingly, mobile applications to allow citizens to notify government of infrastructure issues and make requests for municipal services. In many ways, this process of citizen contribution mirrors the provision of volunteered geographic information, that is spatially-referenced user generated content. This research presents a case study of the city of Edmonton, Canada, an early adopter of multi-channel 311 service request systems, including telephone, email, web form, and mobile app 311 request channels. Three methods of analysis are used to characterize and compare these different channels over three years of request data; a comparison of relative request share for each channel, a spatial hot spot analysis, and regression models to compare channel usage with sociodemographic variables. The results of this study indicate a shift in channel usage from traditional to Internet-enabled, that this shift is mirrored in the hotspots of request activity, and that specific digital inequalities exist that reinforce this distinction between traditional and Internet-enabled reporting channels.

City governments around the world are developing and expanding how they connect to citizens. Technologies play an important role in making this connection, and one frequent way that cities connect with citizens is through 311-style request systems. 311 is a non-emergency municipal notification system that uses telephone, email, web forms, and increasingly, mobile applications to allow citizens to notify government of infrastructure issues and make requests for municipal services. In many ways, this process of citizen contribution mirrors the provision of volunteered geographic information, that is spatially-referenced user generated content. This research presents a case study of the city of Edmonton, Canada, an early adopter of multi-channel 311 service request systems, including telephone, email, web form, and mobile app 311 request channels. Three methods of analysis are used to characterize and compare these different channels over three years of request data; a comparison of relative request share for each channel, a spatial hot spot analysis, and regression models to compare channel usage with sociodemographic variables. The results of this study indicate a shift in channel usage from traditional to Internet-enabled, that this shift is mirrored in the hotspots of request activity, and that specific digital inequalities exist that reinforce this distinction between traditional and Internet-enabled reporting channels.

AbstractWe examine the differences in the investment behavior of independent and finance‐affiliated venture capital firms (VCFs). We find that differences in internal management mechanisms and staff backgrounds lead to external performance differences. Using VC‐backed companies listed in Singapore as our sample, we find significant differences between these two types of VCFs in industry preference, investment duration, VCF syndication, number of board seats, initial underpricing, and long‐term market returns. Independent VCFs add more value to their portfolios. Thus, we conclude that the participation of independent VCFs is an important corporate‐level factor for the success of the venture capital market.