In combination with socio-economic development of China＇s current status, this article analyzes the characteristics of several typical financial behavior of loss listed companies in China. Among them, the debt financ...In combination with socio-economic development of China＇s current status, this article analyzes the characteristics of several typical financial behavior of loss listed companies in China. Among them, the debt financing behavior have a high level, a single means, a short-term structured and other characteristics, the corporate governance behavior have a goal of collaborative, several forms, and a complex environment, the earnings management behavior have diverse motives, many types of means, bigger range and other features, the asset restructuring behavior have a passive subject, methods of differentiation, performance-oriented features such as myopia.展开更多
External Corporate Social and Environmental Reporting （CSER） finds its raison d＇etre in corporations＇ search for both a license to operate and accountability towards society. This suggests a relationship between c...External Corporate Social and Environmental Reporting （CSER） finds its raison d＇etre in corporations＇ search for both a license to operate and accountability towards society. This suggests a relationship between corporations and society. In this study, that relationship is analyzed, specifically the relationship between levels of CSER and economic institutions. A strong link with institutions is an outcome of institutionalization. The economic institutions applied are economic freedom and legal origin as a proxy for national corporate governance systems. The results of this descriptive study show associations between CSER levels and economic freedom. CSER is also related to national corporate governance systems through legal origin. CSER appears to be institutionalized, or in any case, corporations seem to be aware of the economic institutionalization of CSER.展开更多
The purpose of this exploratory paper is to try to envision how corporate governance systems and practices are evolving and what eventually determines the forms they take and the functions they perform. Practical impl...The purpose of this exploratory paper is to try to envision how corporate governance systems and practices are evolving and what eventually determines the forms they take and the functions they perform. Practical implications especially concern different consequences that recent global economic crisis has imposed on regulatory, business, and social aspects of corporate governance. In order to encompass different approaches to this ongoing issue, the author takes into account mainly theoretical contributions that address the issue from the following perspectives： interrelations between product market competition and corporate governance, assessment of capital market pressures on corporate governance; relation between labour market and corporate governance; and actors influencing corporate governance changes in national systems of corporate governance. Since the viability of any corporate governance system and practice, at national and international levels, depends on their ability to respond to both market pressure towards competitiveness and diversified requirements by influential social, political, and economic actors of change, the author suggests that all groups of factors should continue to be in the focus of future researches. On the other hand, as global economic crisis differently affects different countries and businesses, it is of particular importance for those that shape corporate governance policies and practices to be aware of the deep relatedness between corporate governance, on the one hand, and economic, social, and environmental aspects of growth and development, on the other hand.展开更多
Research on the construction of a theory for China’s open economy should break through the limitations of mainstream Western international economics.Firstly,we need to reveal the laws revolving around"three rela...Research on the construction of a theory for China’s open economy should break through the limitations of mainstream Western international economics.Firstly,we need to reveal the laws revolving around"three relationships and six threads"that governed China’s incremental process of trade liberalization.Secondly,we need to summarize China’s experience of the way new technologies,including the Internet,digital technologies and artificial intelligence(AI)have fostered and reshaped the position of small and mediumsized enterprises(SMEs)as micro-actors,providing us with new advantages in international competition.Thirdly,we need to analyze the new win-win mode of the international division of labor over land and sea established under the guidelines of the Belt and Road Initiative(BRI),as well as a new concept of pluralist balance in the international economy marked by a close connection between trade surplus and foreign investment.Fourthly,under the guidance of Xi Jinping’s important discourses,we should offer a rationale for the Chinese scheme of global economy governance within the community of shared future for mankind.展开更多
基金The authors are grateful for financial support from the fund of the China National Social Science Fund Project （09CJY085）, China Postdoctoral Science Foundation （20100470109）, and the authors would like to thank to the funding by the Ministry of education of Humanities and social sciences research Youth Project （11YJC630243, 12YJC630010, and ＂Investors＇ expectancy, loss reversibility and the value of negative equity firms＂） Central University basic research funds （SWU1309116, SWU1309202）.
文摘In combination with socio-economic development of China＇s current status, this article analyzes the characteristics of several typical financial behavior of loss listed companies in China. Among them, the debt financing behavior have a high level, a single means, a short-term structured and other characteristics, the corporate governance behavior have a goal of collaborative, several forms, and a complex environment, the earnings management behavior have diverse motives, many types of means, bigger range and other features, the asset restructuring behavior have a passive subject, methods of differentiation, performance-oriented features such as myopia.
文摘External Corporate Social and Environmental Reporting （CSER） finds its raison d＇etre in corporations＇ search for both a license to operate and accountability towards society. This suggests a relationship between corporations and society. In this study, that relationship is analyzed, specifically the relationship between levels of CSER and economic institutions. A strong link with institutions is an outcome of institutionalization. The economic institutions applied are economic freedom and legal origin as a proxy for national corporate governance systems. The results of this descriptive study show associations between CSER levels and economic freedom. CSER is also related to national corporate governance systems through legal origin. CSER appears to be institutionalized, or in any case, corporations seem to be aware of the economic institutionalization of CSER.
文摘The purpose of this exploratory paper is to try to envision how corporate governance systems and practices are evolving and what eventually determines the forms they take and the functions they perform. Practical implications especially concern different consequences that recent global economic crisis has imposed on regulatory, business, and social aspects of corporate governance. In order to encompass different approaches to this ongoing issue, the author takes into account mainly theoretical contributions that address the issue from the following perspectives： interrelations between product market competition and corporate governance, assessment of capital market pressures on corporate governance; relation between labour market and corporate governance; and actors influencing corporate governance changes in national systems of corporate governance. Since the viability of any corporate governance system and practice, at national and international levels, depends on their ability to respond to both market pressure towards competitiveness and diversified requirements by influential social, political, and economic actors of change, the author suggests that all groups of factors should continue to be in the focus of future researches. On the other hand, as global economic crisis differently affects different countries and businesses, it is of particular importance for those that shape corporate governance policies and practices to be aware of the deep relatedness between corporate governance, on the one hand, and economic, social, and environmental aspects of growth and development, on the other hand.
文摘Research on the construction of a theory for China’s open economy should break through the limitations of mainstream Western international economics.Firstly,we need to reveal the laws revolving around"three relationships and six threads"that governed China’s incremental process of trade liberalization.Secondly,we need to summarize China’s experience of the way new technologies,including the Internet,digital technologies and artificial intelligence(AI)have fostered and reshaped the position of small and mediumsized enterprises(SMEs)as micro-actors,providing us with new advantages in international competition.Thirdly,we need to analyze the new win-win mode of the international division of labor over land and sea established under the guidelines of the Belt and Road Initiative(BRI),as well as a new concept of pluralist balance in the international economy marked by a close connection between trade surplus and foreign investment.Fourthly,under the guidance of Xi Jinping’s important discourses,we should offer a rationale for the Chinese scheme of global economy governance within the community of shared future for mankind.
