An analysis on corporate governance

Corporate governance has become one of the major international issues that have succeeded in attracting a good deal of public interest in recent years, especially since the recent spate of ＂world famous＂ scandalous corporate failures. Today, it is considered that corporate governance plays an important role in the economic health of corporations and society in general. Improving corporate governance is a systematic project, it is necessary to the internal governance and external governance of the ways multi-pronged.

Impacts, risks, and governance of climate engineering

Climate engineering is a potential alternative method to curb global warming, and this discipline has garnered considerable attention from the intemational scientific community including the Chinese scientists. This manuscript provides an overview of several aspects of climate engi- neering, including its definition, its potential impacts and risk, and its governance status. The overall conclusion is that China is not yet ready to implement climate engineering. However, it is important for China to continue conducting research on climate engineering, particularly with respect to its feasible application within China, its potential social, economic, and environmental impacts, and possible international governance structures and governing principles, with regard to both experimentatio~ and implementation.

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.

新管理架构下IEC的治理重点

The International Electrotechnical Commission(IEC),a global non-profit organization,has evolved its focus to align with changing technological and market trends.This shift involves enhancing internal management structures and processes.In recent years,the IEC has restructured its management,establishing advisory units and promoting a parallel emphasis on technology and market considerations.New governance advisory bodies like the Governance Review and Audit Committee(GRAC)have been introduced.GRAC’s responsibilities encompass auditing,reviewing compliance,ensuring operational security and governance ethics,and addressing financial concerns.The IEC’s commitment to governance excellence is further highlighted by its strategic goals and the work of the Task Force on Long-Term Sustainability(LTS).This paper underscores the IEC’s dual commitment to keeping pace with technological advancements while refining its internal governance structures,emphasizing the importance of both aspects in sustaining its leadership in international standards development.

Analysis of Boards of Directors of Listed Companies --Empirical Evidence from China Stock Market

Since stock markets came forth in China only about 15 years ago, there are many different characteristics of Chinese listed companies compared with those of western. According to the regulation on Chinese security markets, an effective internal governance system is composed of systems of general meeting of shareholders, board of directors, board of supervisors and managers. The general meeting of shareholders, as the highest agency of power, makes decisions on important affairs of the company and one of its most important rights is to select qualified members for the board of directors. Board of directors exercises the resolution made by general meeting of shareholders and fulfil the responsibilities authorized by general meeting of shareholder during adjournment. Among the system arrangements above-mentioned, board of directors is the most important. However, the efficiency of internal governing system of the whole company depends on board of directors. Combined with ownership structure analysis, this paper analyses the status quo of boards of directors in China and demonstrates every attribute of Chinese listed companies＇ board of directors.

Internal corporate governance and the use of IPO over-financing:Evidence from China

In this paper, we describe how Shenzhen A-share listed companies used funds raised in over-financed IPOs during the 2006-2010 period. In exploring the relationship between internal corporate governance and the use of funds raised in over-financed IPOs, we find that the use of such funds to engage in severe over-investment behavior is prevalent among listed companies. Reasonable internal corporate governance mechanisms can effectively alleviate over-investment problems listed companies encounter in using funds raised in overfinanced IPOs. However, the same individual serving as both chairman and CEO leads to funds raised in over-financed IPOs being over-invested. Moreover, executives driven by high levels of monetary compensation are more likely to use funds raised in such IPOs to engage in over-investment. We find that improving the balance of power between shareholders will help alleviate the over-investment of excess IPO funds. In addition, the over-investment problem is less severe in state-controlled listed companies than in their nonstate-controlled listed counterparts. This study provides policy recommendations for Chinese securities regulators to ensure listed companies use funds raised in over-financed IPOs both rationally and effectively.

China and the Reform of International Trade Governance System

The 21st century has carried the international trade governance system into a period of accelerated reshaping.The reform has been fueled by many factors including the requirement of the in-depth development of global value chains for cross-border institutional coordination,the requirement of the form of digital economy for new digital rules,and the requirement of the dominant countries under the traditional international trade governance system for the maintenance of their own interests.The reform of international trade governance system has driven China to adjust itself to external pressures while creating opportunities for the country to deepen the reform and join international trade governance.China as a beneficiary and firm supporter of economic globalization has rapidly grown from a marginal participator in economic globalization into a builder and contributor of the governance of the international trading system.It plays an active part in the reform of international trading system and the construction of a community of shared future for mankind by means of the making of rules,the reshaping of rules,the adjustment of rules,and the adaptation to rules.In addition,the critical measures for China to cope with the changes of globalization also consist in its deepened domestic reform,proactive opening-up,facilitated alignment with domestic and international rules,and an institutional environment suitable for the new situation of a"dual circulation"development pattern.

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.

The Development of China’s Electronics Industry: Causes and Constraints

The development of China’s electronics industry can be attributed to supportive governmentpolicies, strong domestic market demand and the opportunities provided by the internationaltransfer of technology in the electronic manufacturing sector. China’s enterprises can onlycontinue to develop through technological upgrading due to the lack of core technologiesof their own. Since this process is still ongoing, China has not become a competitive countryin the field of electronic technology. As a country in transition, government initiatives designedto encourage the development of the electronics industry have also undergone changes inline with economic institutional reform. Direct government intervention policies have beengradually replaced by indirect regulatory policies and the market is playing a more andmore important role in the electronics industry.

The Belt and Road Initiative and International Law:Viewed from the Perspective of the Supply of International Public Goods

The international community is facing the dilemma of an insufficient supply of public goods due to the conjunction of various forces and factors including the profound impact of the economic crisis,increased trade protectionism,changes in the global governance system and the impact of the Covid-19 pandemic.The Belt and Road Initiative(BRI)is a non-rivalrous and non-excludable public good provided to the international community by China as a responsible major country in the new era of historical development.International law has an important role in promoting and guaranteeing the supply of international public goods(IPGs).Since the implementation of the Belt and Road Initiative,the international governance environment has changed dramatically,with the rule of law being the basic premise and important guarantee of the long-term and smooth implementation of the BRI.In pursuing the BRI,buttressed as it is by the rule of law,China should pay attention to diversified governance based on a combination of international soft and hard law and make judicious use of existing bilateral,regional and multilateral international legal mechanisms.In addition,China must also pay close attention to the latest developments in international economic and trade rules and must innovate and improve its ability to supply rules for investment,trade liberalization,etc.Buttressed by international law,the BRI should focus not only on recent concrete initiatives in trade and investment liberalization,but also on the long-term planning and sustainable development of institutional supply,so as to realize the vision and goals of the BRI.