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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]

The purpose of this paper is to investigate the link between culture, history, government policies and the development of economic institutions. Specifically, the paper discusses the impact that history and culture, including the influence of Confucianism, have played in shaping the economic institutions of South Korea and the People's Republic of China. Research results indicate that culture, history and government policies all played a role in shaping the organizational structure of these two East Asian nations. However, China's economic landscape is dominated by small and medium-sized, family-oriented firms, particularly in the rural parts of the country. The South Korean economic landscape, on the other hand, is dominated by large conglomerate firms called Chaebols which are also dominated by one family. [ABSTRACT FROM AUTHOR]

There has been an increasing devotion to the gender balance on executive boards in China. There has been an assumption that increasing the proportion of women in the highest jobs will improve company performance and corporate governance. This research paper tests this assumption by studying a sample of 305 publicly listed healthcare companies in China in the period 2016–2019. We find that the choice of gender for board chair and CEO has a more impact on company performance than merely increasing the proportion of women on boards. Assessing the impact on company performance of different gender composition of board chairs and CEOs, we use an innovative approach to measure the relationship, using a proxy measurement in R&D, sales, and marketing expenses. [ABSTRACT FROM AUTHOR]

Since China's implementation of its open-door policy in 1979, the most effective way to obtain a foothold has proved to be to create joint ventures (JV) with a Chinese business partner. The foreign partner provides the transfer of technology, management skills, financing and access to international markets, whilst the Chinese partner contributes a production base with cheap land and labor, contacts with central and local government officials and access to the domestic Chinese market. The Chinese economy has benefited to a large extent from the creation of joint ventures in the past two decades. Hong Kong firms have used China as a production base for many years, usually with great success and to the mutual benefit of both. However, although Hong Kong firms had considerable experiences in running business and manufacturing operations in China, several have suffered substantially from their investment in joint ventures with Chinese partners. This paper evaluates various issues relating to the performance of equity joint ventures in China. The evaluation is based on a case study of four Sino-Hong Kong joint venture manufacturing firms in the electronics industry, and the findings of this paper indicate that there are number of important factors affecting the stability of joint ventures in China. Foreign investors' experiences in other areas may not be applicable to their investment in China because the operation of a joint venture in China is inevitably faced with a variety of problems that the foreign firms may not have encountered before. [ABSTRACT FROM PUBLISHER]

There is a growing tide of global interest in China's Belt and Road Initiative (BRI) launched by President Xi Jinping in 2013. The initiative has brought in its wake enormous opportunities for creating economic development infrastructure, strengthening open regionalism and accelerating the pace of trade and investment in nearly 70 countries including 27 Muslim countries. Although a large number of finance options for the BRI projects have been highlighted in literature, the strategic role of Islamic finance has not been adequately explored. This paper bridges the knowledge gap by examining the strategic role of Islamic finance in the context of the BRI. Based on an empirical study, the authors explore the dimensions of Islamic finance in attracting investments in BRI projects and test the psychometric properties of the underlying dimensions. The authors discuss important managerial implications of these findings. [ABSTRACT FROM AUTHOR]

The notion of "Third World Multinationals" has always been, at least, slightly misleading, and has now also become obsolete, taking into account the dismantlement of most of the ideological divides between different political and economic blocks since the early 1990s, and the new rules of the games imposed by globalization. Furthermore, new multinationals emerging from China, and also from the former Soviet republics, are demanding a new and more flexible taxonomy. The present paper re-defines "Multinationals from Developing Countries" (MEDCs) and it reviews first, the current literature on multinationals, looking at the key factors which may explain the internationalization process of enterprises coming from outside the traditional, developed, and industrialised world, and also whether they may enjoy specific sources of comparative advantages, different from those ascribed to the old, established multinationals. A statistical appendix provides a brief but comprehensive survey of the current status of MEDCs, pointing out that, at the end of the day, there are roughly only four such enterprises in the usual rankings of the first one hundred multinational corporations, worldwide, and that the prospects of a forthcoming, and enhanced upgrading in the global corporate structure are heavily geared towards Asia. The data would also seem to support the argument that sheer "scale", as such, of the enterprises does not explain a greater or lower degree of "transnationalization," a conclusion which, added to that of the greater flexibility provided by the new information technologies, could be goods news for small- and medium-sized enterprises coming from the developing world. doi:10.1300/J482v11n04_05 [ABSTRACT FROM PUBLISHER]

This paper examines diversification and corporate performance relationship in the framework of agency theory. Contrary to most of the findings from Western developed countries and emerging markets, the study reports a statistically significant U-shape relationship. The finding is also inconsistent with the notion that managerial discretion contributes to the diversification decision and results in discount firm value. The robustness test confirms these results after controlling for other firm level variables. These conclusions suggest that the understanding in Western literature about diversification performance provided by the agency theory may not be automatically applicable to the case of China's companies, and a highly diversified corporate practice could still be beneficial in China. [ABSTRACT FROM AUTHOR]

The Balanced Scorecard (BSC) is a performance measurement management control tool model that can play a critical role in driving companies to achieve sustainable performance in the healthcare industry. In the previous studies, BSC advocates that the sustainable growth of business relies on a management balance focused on financial and non-financial aspects. This study uses the BSC model to examine the core business strategies, namely the duration of CEO tenure, the spending patterns between marketing and Research & Development (R&D) and human resources capability expressed in employee size in the healthcare industry in China. The research used a sample of 305 public-listed healthcare companies in PRC China with data collected for 2016–2019 from the China Stock Market & Accounting Research Database (CSMARD). The data was analyzed by SmartPLS version 3.3.6. This study has three essential findings. First, R&D investment has a negative quadratic impact on marketing expenses. Second, marketing expenses are a mediator between R&D investment and company performance. The last finding is that CEO tenure has a moderating effect on employee size in the company. These findings add to the literature on mediation studies in leadership and management. This study provides insights into mapping BSC as an international management assessment tool, indicating potential research opportunities and highlighting managerial implications. [ABSTRACT FROM AUTHOR]

This study investigates the relationship between cryptocurrency, internet, mobile phones, financial inclusion, and financial sector development in China, India, Nigeria, and South Africa for the period 2009–2017 using fully modified ordinary least square (FM-OLS) and causality analysis. The empirical results show that cryptocurrency, internet usage, and mobile subscriptions have a significant positive relationship with financial inclusion and financial sector development, suggesting that countries with higher levels of cryptocurrency, internet usage, and mobile subscriptions have higher levels of financial inclusion and financial sector development. This finding is further buttressed by the causality analysis which shows that cryptocurrency, internet usage, and mobile subscriptions cause financial inclusion and financial sector development in the four countries. [ABSTRACT FROM AUTHOR]

An introduction to the journal is presented in which the editor discusses various papers published within the issue, including one on Chinese banking from the perspective of central bank control, one on human trafficking in India and Great Britain, and another on the role of company motivation in adopting e-marketing technologies in the Malaysian manufacturing sector.

A widespread utilization of stratagem in politics, foreign relations, and business is a cultural phenomenon in China, yet insufficient attention has been paid to the strategic implications of such a culture by Western academics and practitioners. Such a cultural phenomenon is rooted in antiquity, shaping the thinking and strategic behavior of the Chinese people. This article conceptualizes stratagem in the context of China, theorizes the formation of stratagem culture, and discusses the implications for both academics and practitioners. [ABSTRACT FROM AUTHOR]

The Chinese Central Bank decided on June 8 and July 6, 2012, on the duplication and consecutive cut of the deposit and loan interest rates, together with the simultaneous loosening of the interest rate floating range of their financial institutions. Unquestionably, these measures resulted in a drastic change of the operating strategies of the whole banking system, for both nationalized and the private commercial banks. The article follows up on the causes and effects of these decisions in the Chinese banking arena, predicting a higher possible level of bad loans and followed by a higher systemic risk due to the three major banks’ reactions and copy-cat decisions in fixing interest rates. The research methodology uses the GARCH (1,1) model and the VaR to identify the way the interests are adjusted and study if this decision indicated a real liberalization or rather a controlled interest rate change by the authorities. Eventually, the Chinese interest rate liberalization brought good and bad news to the economy, while the essence remains in how such liberalization is handled and what is intended for the entire economy. [ABSTRACT FROM PUBLISHER]

This article makes a unique contribution to the literature with reference to China, being a pioneering attempt to investigate the effect of terms of trade and its volatility on economic growth of China by using annual time series data from 1980 to 2010 and by applying rigorous econometric techniques. Autoregressive distributed lag (ARDL) cointegration and Johansen and Juselius cointegration methods suggest the significant negative long-run relationship of terms of trade and volatility of terms of trade with economic growth. Four different sensitivity analyses indicate that initial results are robust. Rolling window analysis was performed to find the yearly effect of terms of trade and its volatility on the economic growth of China. Results show that the coefficient of terms of trade on economic growth remains negative from 1985 to 1988, 1994 to 1995, 1998 to 2002, and from 2006 to 2008. Variance decomposition method shows a unidirectional causal relationship between terms of trade and economic growth runs from terms of trade to economic growth and a bidirectional causal relationship between volatility of terms of trade and economic growth in China. It is concluded that less volatile terms of trade are better for economic growth. Policy makers should critically analyze the reasons for deterioration of terms of trade in the years 1985 to 1988, 1994 to 1995, 1998 to 2002 and from 2006 to 2008. Either this happened because of increases in import prices or decreases in export prices, or increases in export prices that are less than increases in import prices. This analysis will be beneficial in finding the contents of export and import by which terms of trade deteriorate and form growth-enhancing policies. [ABSTRACT FROM AUTHOR]

This study explores links among strategic uncertainty, competitive strategy, and performance in Chinese and Turkish businesses. Clear associations between market, technological, and competitive uncertainties and competitive strategy were not found in either nation. Chinese and Turkish organizations pursuing prospector, defender, and analyzer strategies outperformed their counterparts pursuing the reactor strategy. Scores along Porter's typology suggested marked differences between managers' conceptualization of competitive strategy in both countries. Along the Miles and Snow typology, defenders represented the highest performing group in China, whereas analyzers outperformed other groups in Turkey. Similarities and differences in findings between the two nations are elaborated. [ABSTRACT FROM PUBLISHER]

This research extends the investigation of the diversification performance into the Chinese market, but with a specific focus on the issue of the internal capital market building motive being behind such corporate strategy. The empirical findings here provide persuasive evidence to suggest that, like firms in the Western countries, the Chinese firms diversify in search of, among other things, a financing solution to relax the constraints from the external capital market. However, inconsistent with most of the Western literature, the study does provide statistically significant evidence to support the proposition that in China, diversification is positively related to corporate financial performance when diversification is under the internal capital market building consideration. This new evidence implies that in China's economic and institutional environment, the benefits of building such an internal capital market within the conglomerated firm seem to offset its costs. [ABSTRACT FROM AUTHOR]

By 2008 China was expected to become the third largest economy in the world with a GDP slightly larger than that of Germany. Still, development challenges remained significant for China as per capita income was still very low and regionally based income disparities significant. Nevertheless, China's behavior on the world scene resembled increasingly that of the major developed economies as Chinese industries and companies used their new- found economic power around the world, it is useful to examine whether China's international behavior, i.e., its highly coordinated actions on the world scene, can best be defined as a strategy exercised by a unitary actor, or, rather, can be described as the visible tip of an iceberg, hiding a substantially more complex domestic governance scenario in which political and bureaucratic forces interact in complex ways. [ABSTRACT FROM AUTHOR]