Internal Mechanisms of Corporate Governance and Firm Performance： A Review of Theory and Empirical Evidence

Literature has revealed the existence of several external and internal disciplining mechanisms that are hypothesized as factors influencing corporate governance. This paper reviews the theoretical and empirical literature on five internal mechanisms of corporate governance, namely, dividend payouts, financial leverage, institutional shareholding, board duality, and board size. These mechanisms have received the greatest deal of attention in the literature. The paper makes an original contribution to the literature as it is the first of its type, to the best of our knowledge, to provide a comprehensive idea on these five internal mechanisms of corporate governance. This study will help in investigating the relationship between internal corporate governance mechanisms and firm performance with the main aim of extending the existing literature on firm performance by empirically investigating the contribution of these mechanisms in the smooth conduct of business operations. The empirical evidence amassed favors a smaller board size, non-existence of duality and favorable dividend mechanisms as effective internal governance mechanisms affecting firm performance. At the same time, there is no conclusive evidence on the relationship between leverage and institutional ownership as internal governance mechanisms influencing agency cost and firm performance.

Research on the Internal Mechanism,Model,and Effectiveness of Online Deep Learning

With the in-depth development of internet plus education and the COVID-19 pandemic,online learning has become a universal teaching method in the world.However,the issue of superficial and low-quality in online learning is still widespread.From the internal and external conditions of online deep learning,this study reveals the theory mechanism of how the online learning environment and teacher support,as external conditions,affect students’emotions and learning motivation,and then affect students’internal learning state.On this basis,an online deep teaching model is constructed,which consists of three stages:online asynchronous self-study before class,online synchronous live broadcasting teaching in class,and online asynchronous expansion after class.Meanwhile,a one-term long online teaching practice is carried out in the course named the Instructional System Design.The results show that,in the learning process level,the online deep teaching model can effectively improve students’online learning engagement,promote students to use deep learning methods and deep learning motivation to learn,and enhance the depth of online interaction between students.At the level of learning results,students’critical thinking and online academic performance 9 have been significantly improved.

Establishing a mechanism for international cooperation for Fukushima nuclear-contaminated water monitoring

The Japanese government’s unilateral decision to discharge the nuclear-contaminated water from the Fukushima nuclear power plant into the ocean has caused immense nuclear safety risks.Monitoring the unclear contaminated water is a starting point to combat these risks and seek remedies for the rights and interests of all concerned parties.The establishment of a mechanism for international cooperation in this respect is necessary to handle the risks of the Fukushima nuclear-contaminated water and to lay the foundation of a framework for tackling any future disposal of nuclear-contaminated water following Japan’s example.At present,the international legal systems in the spheres of nuclear safety and security,marine environmental protection,and other areas,as well as the questioning of the monitoring reports of the International Atomic Energy Agency(IAEA)by the relevant parties,the monitoring practices of historical nuclear accidents,and numerous radioactivity monitoring mechanisms have provided the institutional and practical basis for constructing such a mechanism.The mechanism can be promoted by the IAEA through its existing mechanisms or be jointly initiated by China,the Russian Federation,the Republic of Korea,the Democratic People’s Republic of Korea,and the Pacific Island countries,among other stakeholders.Specifically,this mechanism should consist of three levels:first,the framework of the basic legal system,including the cooperative principles of national sovereignty,interest-relatedness,and procedural fairness,and the signing of the Framework Convention on the Monitoring of Fukushima’s nuclear-contaminated water and its Optional Protocol;second,the organizational structure and its responsibilities,which may include the Conference of Parties as the decision-making body,the Secretariat as the central coordinating body,and the monitoring committees in various fields as specific implementing agencies;and third,specific administrative arrangements,which involve the standardization of monitoring,the management system of monitoring networks and stations,the rules for monitoring procedures,and the rules for the utilization of the monitoring data,etc.With the urgent need for the scientific and fair monitoring of Fukushima’s nuclear-contaminated water,China,as a stakeholder country,can promote the establishment of such a mechanism for monitoring nuclear-contaminated water through the following paths:①It is necessary to clarify the factors affecting the construction of an international cooperation mechanism for monitoring nuclear-contaminated water so as to ascertain the standpoints of the stakeholders,claims of their interests,contents of their cooperation,and the relevant international relations.②On the basis of existing practices,China should consider improving the monitoring mechanism to cope with the risks of the discharge of Fukushima’s nuclear-contaminated water by formulating targeted policies and systems,setting up specialized monitoring institutions,and establishing a systematic monitoring network system.③This is an effective way for China to actively promote the participation of stakeholders in the construction of an international cooperation mechanism for monitoring nuclear-contaminated water in Fukushima by further innovating the dissemination mechanism to address the risk of Fukushima’s nuclear-contaminated water discharging into the sea and facilitating the identification of issues for international cooperation in monitoring Fukushima’s nuclear-contaminated water based on the concept of a community with a shared future for mankind.

2nd ASME/IFToMM International Conference on Reconfigurable Mechanisms and Robots(ReMAR2012)

With the development of science and technology and with space exploration, hazardous environment work, and production requirements of small batch and quick change-over, the traditional concept of mechanisms and robots development is facing a challenge in the 21 st century for adaptability and reconfigurability.

Mechanical instability of veins under internal pressure

Introduction Tortuous veins are often seen in the retina,cerebrum,and human legs. Venous tortuosity may affect blood flow and the wall remodeling process,both of which are associated with venous diseases. It has been shown that tortuous or vari-

The Study on Multinational Operation Risk-Defense System Based on Corporate Governance Mechanism

：With the unceasing globalization development of MNCs＇ business and connnuous intensify in international competition, the managers of MNCs find that the strategy decisions they are faced on are becoming more complicated, and they have deeply realized that the perception and defense of the international risk has the impact on their strategy decisions. The thesis, proceeding with analyzing and evaluating risk types in the course of enterprises developing in the international markets, based on the integration international risk perception model, utilizing relative theories and study thoughts of the corporate governance mechanisms, especially the relative studies on overseas enterprises＇ governance mechanisms, explores how to use the corporate governance mechanisms to build the defense system against international risks. Meanwhile, the thesis further discusses the risks our native enterprises have suffered from during the multinational operation in detail, explores its reasons and offers the defense measures of all sorts of risk.

Speeding Up the Transformation of the Operational Mechanism And Further Developing the International Market

According to customs statistics, China’s exports of machinery and electric products in 1996 were worth US$ 48.21 billion, an increase of 9.9 percent over the preceding year, and 8.4 percent higher than the growth rate of the nation’s total exports. The proportion of machinery and electric product exports in the nation’s total foreign trade volume\ increased from 29.5 percent in 1995 to 31.9 percent in 1996, a growth at 2.4 percent.

Effects of connection types and elevated temperature on the impact behaviour of restrained beam in portal steel frame

Based on the background of structural protection and Disaster Reduction Engineering, the dynamic behaviour and failure mechanism of restrained beams in portal steel frames in localised fire are investigated via experimental measurement and numerical simulation techniques. Comprehensive parametric studies are carried out to discuss the influence of end connection types, temperature, impact velocity,impact mass and span-to-depth ratio(SDR) on the dynamic response of the beams. The characteristics of deformation, internal force and energy distribution about the restrained beams and its joints are investigated. A temperature dependent criterion for evaluating the frame joint performance is proposed to measure the degree of performance degradation and impact resistance of the joint. The dynamic displacement amplification factor in different temperature environments are proposed for the different beam end constraint types and SDRs. Results of the experimental and numerical analysis show that the welded connection(WC) of three typical joint types is the strongest, and the extended endplate connection(EEC) is the weakest in terms of the impact resistance performance. With regard to the failure mode of the joint, the failure positions of the WC and the welded-bolted connection are located in the inner web of the column. Meanwhile, the EEC is located in the connection position between the beam and the endplate. Three different internal force stages and two obvious critical temperature boundaries of the restrained beams emerge with the increase in temperature, and they have significant characteristics in terms of deformation trend, internal force transfer and energy distribution. During the impact, a phenomenon known as “compression arch action” develops into “catenary action” with the increase in deflection in the frame beam mechanism.

Sediment mathematical model for sand ridges and sand waves

A new theoretical model is formulated to describe internal movement mechanisms of the sand ridges and sand waves based on the momentum equation of a solid-liquid two-phase flow under a shear flow. Coupling this equation with two-dimensional shallow water equations and wave reflection-diffraction equation of mild slope, a two-dimensional coupling model is established and a validation is carried out by observed hydrogeology, tides,waves and sediment. The numerical results are compared with available observations. Satisfactory agreements are achieved. This coupling model is then applied to the Dongfang 1-1 Gas Field area to quantitatively predict the movement and evolution of submarine sand ridges and sand waves. As a result, it is found that the sand ridges and sand waves movement distance increases year by year, but the development trend is stable.

The 12^(th) International Congress on Rock Mechanics will be held in Beijing in 2011

With the rapid economic development of China,a number of large-scale rock engineerings in the area of hydropower,transportation,energy,etc.,have entered a high-speed construction period.

BRICS Mechanism and International Financial Governance Reform

The global financial crisis in 2008 thoroughly exposed the shortcomings of the existing international financial system, followed by rising initiatives on the international financial governance system reform. Unlike previous reforms, emerging economies as a group have gradually become an important participant in the current round of international financial reform, especially with the BRICS countries as the main representative. This paper argues that the BRICS mechanism is in a trial period, and whether it is capable to form a cohesive institutional actor to participate in international financial governance, and to completely change the long-term situation of international financial affairs dominated by developed countries under the framework of the G-20 depends on whether BRICS member states can continue to maintain a rapid economic development, to create a strong convergence of interests and to maintain a relatively closed nature of the mechanism.

DIFFICULTIES CONFRONTED BY ICSID TRIBUNALS IN DECIDING INTERNATIONAL INVESTMENT CORRUPTION CASES AND POSSIBLE SOLUTIONS

The issue of corruption has attracted increasing attention in the study and practice of international investment law during recent years.After taking prudent consideration of the corruption defense invoked by the host states in some international investment arbitration cases involved with corruption,International Center for Settlement of Investment Disputes(ICSID)tribunals accordingly determined the final awards.However,some parts of the arbitral jurisprudence aroused strong criticism,especially with regard to the ICSID tribunals’reasoning that arbitrators have no jurisdiction over corruption-tainted international investments.The ICSID tribunals are legitimately supposed to exercise their jurisdiction and are lawfully obliged to probe into the nature of corrupt activities.The tribunals are strongly expected to adopt a balanced approach in deciding the merits and fairly weighing the obligations,rights,and interests of both disputing parties.It is preferable to strengthen the collaborative interaction between ICSID proceedings and domestic anti-corruption enforcement mechanisms when it comes to combating corrupt international investment activities.Existing international treaties(or specific treaty provisions)on combating corruption in international business transactions and calling for international cooperation,alongside domestic anti-corruption enforcement legislation,have actually laid solid legal foundations for the establishment of such an anti-corruption coordinative mechanism between ICSID and domestic corruption regulatory authorities on the global level.