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This paper aims to construct a scale for Jupsang leadership orientation (JSLO). We first provide a theoretical background for the concept of Jupsang, which originates from the ancient literature of Sun Tsu and Lao Tsu and the modern literature of Maoism and Deng Xiaoping in China. We used a grounded theory approach to obtain five dimensions of the Jupsang concept: agility orientation, innovation orientation, vigilant orientation, market awareness orientation, and visionary orientation. Items were generated through 12 in-depth interviews in Hong Kong, Taiwan, and mainland China and were included in a questionnaire, which we used to collect data from two large forums in Hong Kong, where 440 middle and senior executives from China attended. Using SPSS Version 25 and following the scale development procedures provided by Churchill and De Villis, we found the Jupsang scale reliable and valid. This paper contributes to providing a brand new scale for strategic leadership. Practically, it can enhance the relationship between a leader and his/her followers. Finally, we provided limitations and directions for future research. [ABSTRACT FROM AUTHOR]

The People's Republic of China has increasingly become an attractive location for foreign capital. The flow of foreign capital into mainland China includes the so-called northbound cash flow which is a colorful term that is often used to describe capital flowing into the mainland from Hong Kong. Two markets that have become an attractive destination for northbound cash flow is the Shanghai stock exchange and the Shenzhen stock exchange. This paper investigates the impact, if any, of northbound cash flows on investor sentiment for investors residing in mainland China. In other words, the paper attempts to ascertain whether the extent of northbound cash flows influences the extent to which mainland investors feel either bullish or bearish about the market. The research objective is addressed using quantitative models and focuses on the Shanghai and Shenzhen stock exchange. Research results indicate that northbound cash flows from Hong Kong significantly impacts investor sentiment in mainland China. [ABSTRACT FROM AUTHOR]