Journal articles on the topic 'Small Chinese firms'
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SIU, WAI-SUM, and DAVID A. KIRBY. "MARKETING IN CHINESE SMALL BUSINESS: TENTATIVE THEORY." Journal of Enterprising Culture 03, no. 03 (September 1995): 309–42. http://dx.doi.org/10.1142/s0218495895000179.
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Much of the literature on small firm marketing has adopted the Western marketing paradigm. Though researchers such as Kindle (1982) and Waldie (1980) have pointed to the importance of using traditional cultural values in understanding Chinese marketing decisions, there is no major study of Chinese small firm marketing which adopts this approach. Siu and Kirby (1995) suggest an integrative approach — blending the process model and the contingency approach in building and advancing small firm marketing theory. Hence the marketing process model proposed by Brooksbank (1990) is adopted as the research framework for understanding the marketing activities of small firms in Hong Kong. Six broad areas relating to business philosophy, strategic analysis, marketing objectives, marketing strategy, marketing organization and marketing control are identified. The contingency model used by Brooksbank, Kirby and Wright (1992) is adopted to identify different types of performing companies. In addition, Yau's (1994) Chinese cultural value orientations are adopted to explain the likely Chinese cultural influences. Five types of value orientation are used as to provide the analytical framework, namely Man-to-nature Orientation, Man-to-himself Orientation, Relational Orientation, Time Orientation, and Personal-activity Orientation. The research results reveal that Chinese small firms in Hong Kong exhibit different marketing behaviour from their western counterparts, when compared with UK findings for example. Higher performing Chinese small firms place marketing as the leading or joint leading role in their corporate planning processes and also adopt a longer-term strategic planning approach. They also use more aggressive marketing strategies and put more emphasis on product performance and credit support. However, explicit marketing control devices appear not to be used. The influence of Chinese cultural values on the marketing activities of Chinese small firms in Hong Kong is found to be significant.
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Guo, Zisheng, Jianqi Zhang, and Heng Liu. "Opportunity recognition efficiency of small Chinese firms: findings from data envelopment analysis." Chinese Management Studies 13, no. 4 (November 4, 2019): 760–77. http://dx.doi.org/10.1108/cms-05-2018-0546.
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Purpose Small firms in China anticipate entrepreneurial opportunities for continual growth. However, they may fail to recognize opportunities because of their inefficiency in managing their knowledge. Design/methodology/approach In this explorative paper, the authors assess the opportunity recognition efficiency of 168 small Chinese firms using data envelopment analysis (DEA). Supplementary Tobit regressions were conducted for further exploring the factors that influence the firms’ efficiency in opportunity recognition. Findings Results from the DEA suggest that most respondents recognize significantly fewer opportunities than those with equivalent knowledge stock. Moreover, many firms have low levels of pure technical efficiency but high levels of scale efficiency, indicating insufficient use of knowledge as a major reason for inefficiency in opportunity recognition. The Tobit regressions show that sales and research and development intensity are relevant to a firm’s opportunity recognition efficiency. Research limitations/implications This study calls for the investigation of efficiency issues in opportunity recognition and suggests that managers guard against unwarranted loss of opportunities owing to inefficient use of existing knowledge elements. Originality/value First, the authors introduce the concept of opportunity recognition efficiency within the entrepreneurial process. Second, they manifest the role of knowledge management in opportunity recognition. Third, they introduce DEA to investigate the relationship between knowledge stock and opportunity recognition. Fourth, this study reveals that inefficient use of knowledge is a disadvantage of small Chinese firms in terms of opportunity recognition.
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Tan, Yi, and Xiaoli Wang. "Investigating the Motivations of VC Syndication in China --- Do Chinese Leading VC Firms Make a Difference in Terms of Syndication Decisions." International Journal of Economics and Finance 8, no. 6 (May 24, 2016): 78. http://dx.doi.org/10.5539/ijef.v8n6p78.
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The venture capital industry in China is quickly evolving and becoming more and more important in the development of small and medium-size companies in China. Venture capital firms usually invest in young private transactions which are usually involved with high risk. In addition, the legal and political environments in China are significantly different from those in the developed markets and at the same time, China is undergoing significant changes of business environments, which brings even more challenges to the VC firms in China’s market. Under these challenges, syndication has become a very popular investment method for the VC companies to diversify their investment risks. In this paper, we explore the various factors that might influence the motivation of VC firm’s syndication decisions in China’s market and especially focus on the impact of the firm’s Chinese ownership. We believe that VC firms’ Chinese ownership has a significant influence on the firm’s decision for syndication investment and our empirical analysis confirms this. We find that Chinese VC firms have a significantly lower likelihood to make syndicated investment than their foreign counterparties. We also explore the interactions between the firms’ Chinese ownership and other influencing factors to investigate their joint impacts on the syndication likelihood. We believe our study will provide a better and thorough understanding about the VC firms’ syndication behavior in China’s market and thus will offer significant values to Chinese policy makers in terms of their efforts to promoting VC development in China.
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Zhou, Chao. "Internationalization and performance: evidence from Chinese firms." Chinese Management Studies 12, no. 1 (April 3, 2018): 19–34. http://dx.doi.org/10.1108/cms-04-2017-0098.
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Purpose This paper aims to test the internationalization–performance relationship based on data of Chinese firms and the impact of firm size on the internationalization–performance relationship. Design/methodology/approach This paper uses overseas subsidiaries as a percentage of total subsidiaries to measure the degree of internationalization. As the overseas subsidiaries and total subsidiaries data of Chinese A-share listed firms are not available in any existing databases, the author hand-collected information on subsidiaries of Chinese A-share listed manufacturing firms from their annual financial reports during 2001-2014. The basic accounting and market information is collected from the China Stock Market and Accounting Research Database. This paper finally gets 535 manufacturing firms. Findings The empirical results suggest that the internationalization–performance relationship is W-shaped in overall samples, but varies with firm size. Specifically, the internationalization–performance relationship is W-shaped in small firms and U-shaped in large firms. Research limitations/implications Future studies based on unlisted Chinese firms or other measurement of internationalization may provide further understanding of the internationalization–performance relationship. Practical implications Policymakers should help small firms prepare a long-term internationalization strategy, giving more support for small firms in the first and third phases of internationalization and helping them to reach the second and fourth phases. Policymakers should also pay more attention to limit the aggressive internationalization behavior of large firms. Originality/value This study provides new evidence for the internationalization–performance relationship by using the unique longitude sample from China and the unique measurement of internationalization. We also highlight the importance of firm characteristics in the examination of internationalization–performance relationship, which provides a potential explanation for previous mixed evidence.
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Wong, Loong. "Corporate governance in small firms: The need for cross-cultural analysis?" International Journal of Cross Cultural Management 11, no. 2 (August 2011): 167–83. http://dx.doi.org/10.1177/1470595811399188.
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The extant literature on family firms has concentrated on succession planning and typically, on the experiences of western industrialized countries. This has skewed research and impeded our understanding of the dynamics of family firms, particularly their growth, evolution, processes and the exercise of power within the firm. In recent years, as family firms reform their organizational structure and processes, professionals and ‘outsiders’ are now brought into the firm to better ‘manage’ and oversee the firm and its activities. These effects are however not well understood and we do not know how they affect the governing process. Through the development of case studies of Chinese family firms in Malaysia, this paper seeks to map out the critical processes and the actors, including the function of non-executive directors, enabling a better understanding of the dynamics underpinning Chinese family firms and their growth. The paper also argues that the effectiveness of any given board structure is not predetermined but open to processes and mobilizing interests within the firm.
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Wang, Lihua, Zhiyu Cui, and Xiaoya Liang. "Does It Pay to Be Green? Financial Benefits of Environmental Labeling among Chinese Firms, 2000–2005." Management and Organization Review 11, no. 3 (July 15, 2015): 493–519. http://dx.doi.org/10.1017/mor.2014.8.
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ABSTRACTDrawing on economic, sociological, and strategic perspectives, we use data of a large sample of 936 Chinese manufacturing firms in the period from 2000 to 2005 to examine how environmental labeling may affect a firm's financial performance. We argue that reducing information asymmetry, increasing legitimacy, and differentiating strategically through environmental labeling may prompt customers to patronize the firm, thereby enhancing firm performance. However, not all firms benefit equally; environmental labeling conveys fewer benefits for larger firms and for firms listed in a stock market, because they are less threatened by information asymmetry or insufficient organizational legitimacy. Our findings suggest that environmental labeling has generally limited influence on financial performance, but for small and unlisted firms, environmental labeling increases sales.
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Boisot, Max, and Marshall W. Meyer. "Which Way through the Open Door? Reflections on the Internationalization of Chinese Firms." Management and Organization Review 4, no. 3 (November 2008): 349–65. http://dx.doi.org/10.1111/j.1740-8784.2008.00116.x.
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Received internationalization theory argues that firms occupy domestic space before going abroad; in other words, large, oligopolistic firms are most likely to internationalize. The experience of China, whose economy is fragmented and whose firms are small by global standards, suggests otherwise. We construct a model of small firm internationalization driven by the relative transaction costs of crossing domestic (in the case of China, provincial) and international borders. When the costs of crossing domestic borders exceed the costs of crossing international borders, firms will internationalize at a relatively early stage of development. In the case of China, local protectionism and inefficient domestic logistics increase the costs of doing business domestically; moreover, protection of property rights in the West and the advantages afforded Chinese owned firms reconstituted as foreign entities operating in China decrease the costs of ‘going out’. We coin the term ‘institutional arbitrage’ to capture Chinese firms' pursuit of efficient institutions outside of China. We argue that strategic exit from the home country rather than strategic entry into foreign markets may explain the internationalization of many Chinese firms.
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Louis Troilo, Michael. "Collaboration, product innovation, and sales: an empirical study of Chinese firms." Journal of Technology Management in China 9, no. 1 (April 1, 2014): 37–55. http://dx.doi.org/10.1108/jtmc-08-2013-0035.
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Purpose – The purpose of this paper is to examine the role that collaborations, both foreign and domestic, play on product innovation, sales mix, and sales revenue for Chinese firms. Both statistical correlations and marginal (economic) effects of collaborations feature in the analysis. Design/methodology/approach – This study includes 2,700 Chinese firms across 15 industry sectors and 25 cities from a World Bank survey conducted in 2012; the data are stratified by firm size. Given the different types of dependent variables to be estimated, several methodologies are employed: logistic regression, Poisson regression, and ordinary least squares. The marginal effects of key variables are then calculated to demonstrate their economic impact. Findings – Regarding the likelihood of product innovation, collaboration with domestic (Chinese) companies is significant for Chinese micro, medium, and large enterprises. Being a foreign subsidiary is significant for the proportion of new products in the sales mix for small, medium, and large firms. Domestic collaboration can boost the sales of innovating small firms and innovating medium companies by nearly 113 and 140 percent, respectively. Originality/value – This study builds on the current literature by examining the impact of foreign vs domestic collaboration on Chinese firms, whereas most research examines foreign players only. It offers a more nuanced analysis by stratifying estimates according to firm size, and it goes beyond statistical significance to quantify the real economic effect of collaborations on Chinese companies.
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Jiang, Jiaming, Yu Zhao, and Junshi Feng. "University–Industry Technology Transfer: Empirical Findings from Chinese Industrial Firms." Sustainability 14, no. 15 (August 4, 2022): 9582. http://dx.doi.org/10.3390/su14159582.
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The knowledge and innovation generated by researchers at universities is transferred to industries through patent licensing, leading to the commercialization of academic output. In order to investigate the development of Chinese university–industry technology transfer and whether this kind of collaboration may affect a firm’s innovation output, we collected approximately 6400 license contracts made between more than 4000 Chinese firms and 300 Chinese universities for the period between 2009 and 2014. This is the first study on Chinese university–industry knowledge transfer using a bipartite social network analysis (SNA) method, which emphasizes centrality estimates. We are able to investigate empirically how patent license transfer behavior may affect each firm’s innovative output by allocating a centrality score to each firm in the university–firm technology transfer network. We elucidate the academic–industry knowledge by visualizing flow patterns for different regions with the SNA tool, Gephi. We find that innovation capabilities, R&D resources, and technology transfer performance all vary across China, and that patent licensing networks present clear small-world phenomena. We also highlight the Bipartite Graph Reinforcement Model (BGRM) and BiRank centrality in the bipartite network. Our empirical results reveal that firms with high BGRM and BiRank centrality scores, long history, and fewer employees have greater innovative output.
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Tan, Jialu, Kihyung Bae, and Xi Luan. "A Study on the City Size and Export Participation of Chinese Firms: Analysis Based on the Perspective of Industrial Agglomeration." Korean Society of Culture and Convergence 44, no. 8 (August 31, 2022): 391–407. http://dx.doi.org/10.33645/cnc.2022.8.44.8.391.
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In the context of the prevalence of foreign trade protectionism, further promoting the process of urbanization help expand domestic demand and improve Chinese firms’ export competitiveness. This paper studies the effect of the city scale expansion on Chinese firms’ participation in exports. The results found that first, the city scale expansion will significantly promote the firm export participation; second, for different scale cities, the impact of different city size on the export participation of firms is different; third, considering the intermediary effect model, the industrial specialization level of (extra) large cities and small cities, the industrial diversification level in megacities and (extra) large cities and the industrial competitiveness of small cities have a partial intermediary effect on the expansion of urban scale and promotes the participation of firms in exports. In addition, industrial competitiveness and industrial diversification in megacities and small cities respectively have a masking effect on the expansion of urban scale and promote the participation of firms in exports.
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Wong, Siu-lun. "The Chinese Family Firm: A Model." Family Business Review 6, no. 3 (September 1993): 327–40. http://dx.doi.org/10.1111/j.1741-6248.1993.00327.x.
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Three aspects of Chinese economic familism are distinguished: nepotism, paternalism, and family ownership. This essay is mainly concerned with the last aspect and the resultant phenomenon of the prevalence of family firms among privately owned Chinese commercial and industrial enterprises. It is argued that such firms are not necessarily small, impermanent, and conservative, because they tend to behave differently at various stages of their developmental cycle. Four phases of development—emergent, centralized, segmented, and disintegrative—are identified and discussed. This Chinese pattern is then compared with its Filipino and Japanese counterparts.
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Hastings, Justin V., and Yaohui Wang. "Chinese Firms’ Troubled Relationship with Market Transformation in North Korea." Asian Survey 57, no. 4 (July 2017): 618–40. http://dx.doi.org/10.1525/as.2017.57.4.618.
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The coping strategies that small Chinese firms operating in North Korea have chosen involve insinuating themselves into North Korean political and social networks, and structuring their investments so as to minimize their exposure to North Korean infrastructure, workers, and institutions. As a result, it is unlikely that Chinese firms will be the main drivers of market transformation in North Korea.
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YIN, WEI, and KENT MATTHEWS. "SINGLE VERSUS MULTIPLE BANKING RELATIONSHIPS-EVIDENCE FROM CHINESE LENDING MARKET." Singapore Economic Review 62, no. 01 (March 2017): 227–50. http://dx.doi.org/10.1142/s0217590816500247.
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Using Chinese firm level data for 2003–2012, this paper determines the factors that drive firms to switch from single bank loan providers to multiple bank loan providers. The results show that large firms are more likely to switch from single to multiple lending relationships. This study finds that medium size and small firms of high quality are more likely to have a single borrower relationship while large and high quality firms are more likely to have multiple bank relationships. Increasing market competition decreases the probability of single bank-firm relationship.
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Xu, Hongmei. "Why do Small Chinese Firms List on Frankfurt Stock Exchange?" China Economic Policy Review 04, no. 01 (June 2015): 1550003. http://dx.doi.org/10.1142/s179396901550003x.
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Poutziouris, Panikkos, Yong Wang, and Sally Chan. "Chinese entrepreneurship: the development of small family firms in China." Journal of Small Business and Enterprise Development 9, no. 4 (December 2002): 383–99. http://dx.doi.org/10.1108/14626000210450568.
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Li, Xibao, and Hao Ni. "Intellectual property management and patent propensity in Chinese small firms." Innovation 14, no. 1 (March 2012): 43–58. http://dx.doi.org/10.5172/impp.2012.14.1.43.
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Tsui-Auch, Lai Si. "Learning Strategies of Small and Medium-Sized Chinese Family Firms." Management Learning 34, no. 2 (June 2003): 201–20. http://dx.doi.org/10.1177/1350507603034002003.
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Shuai, Ping, Hong Zhang, and Ling Huang. "The Impact of Space Delocalization and Time Delocalization on the CSR Strategy in a Transition Period ——A Case Study of Chinese Small and Medium-sized Export-oriented Apparel Firms." Business and Management Studies 5, no. 2 (April 18, 2019): 45. http://dx.doi.org/10.11114/bms.v5i2.4111.
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Since the 1990s, many Chinese small and medium-sized export-oriented firms have begun to accept higher corporate social responsibility (CSR) standards because of factory inspections. In recent years, firms have been facing greater market competition in a period of transition. Different firms have different attitudes toward CSR behavior in same external macroenvironment, and some firms have formed a CSR strategy. To further explore the issue, this paper studied the impact of space delocalization and time delocalization on the CSR strategy of Chinese small and medium-sized export-oriented firms based on social structure theory. Using the case study approach, the results showed the following: (1) space delocalization can stimulate the CSR behavior of firms, although some behaviors are the result of compromise, and CSR strategy will not be initiated because of passive CSR behavior; (2) the stimulation of space delocalization can stimulate endogenous changes, but the cultural background of time delocalization has a far-reaching impact on the formation of CSR strategy.
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Lu, Yingjun, Indra Abeysekera, and Corinne Cortese. "Corporate social responsibility reporting quality, board characteristics and corporate social reputation." Pacific Accounting Review 27, no. 1 (February 2, 2015): 95–118. http://dx.doi.org/10.1108/par-10-2012-0053.
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Purpose – This paper aims to examine the influence of corporate social responsibility (CSR) reporting quality and board characteristics on corporate social reputation of Chinese listed firms. Design/methodology/approach – Firms chosen for this study are drawn from a social responsibility ranking list of Chinese listed firms. The social responsibility rating scores identified by this ranking list are used to measure the social reputation of firms studied. The model-testing method is used to examine hypothesised relationships between CSR reporting quality, board characteristics and corporate social reputation. Findings – The results indicate that CSR reporting quality positively influences corporate social reputation but chief executive officer/chairman duality as a measure of board characteristics has a negative impact on corporate social reputation. Firm’s financial performance and firm size also positively influence corporate social reputation. Research limitations/implications – The relatively small sample of firms for a cross-sectional study, and the proxies constructed for various concepts to empirically test hypotheses can limit generalising findings to firms outside the social responsibility ranking list. Future studies can undertake longitudinal analysis and compare socially responsible firms with others to expand empirical findings about corporate social reputation. Originality/value – This paper investigates the influences of CSR reporting quality and board characteristics on corporate social reputation in the context of a developing country, China.
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Menkhoff, Thomas, and Chay Yue Wah. "Improving Small Firm Performance Through Collaborative Change Management and Outside Learning." International Journal of Asian Business and Information Management 2, no. 1 (January 2011): 1–24. http://dx.doi.org/10.4018/jabim.2011010101.
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This empirical-exploratory article sheds light on the change management approaches used by Chinese owner-managers of small firms in Singapore and their openness toward strategic learning. The paper examines widespread common-sense assumptions that ethnic Chinese adopt mostly directive-coercive (autocratic) change management approaches, which may stifle innovation. Great diversity exists amongst small firm owners in Asia with regard to their change leadership practices, and respective change implementation approaches are contingent on both demographic variables and situational forces like the urgency of change, the degree of resistance to change, and/or the dynamics of the environment in which the firms operate. Data from a SME survey in Singapore (n = 101) serves to substantiate several propositions about change management of Chinese owner-managers of SMEs in Singapore. Three hypotheses about the openness of SME owner-managers to outside sources of learning are presented to ascertain the prediction that such knowledge can give SMEs a performance headstart by helping them to work smarter.
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Huang, Fang, John Rice, and Nigel Martin. "Does open innovation apply to China? Exploring the contingent role of external knowledge sources and internal absorptive capacity in Chinese large firms and SMEs." Journal of Management & Organization 21, no. 5 (March 11, 2015): 594–613. http://dx.doi.org/10.1017/jmo.2014.79.
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AbstractWhile ‘open innovation’ is often considered to be an organisational strategy with universal application, its generalisability and applicability to organisations operating within emerging economies has yet to be fully explored. This study provides empirical evidence of its importance within a substantial sample of Chinese large firms and small and medium enterprises. Using Tobit regression analysis, our findings indicate that external knowledge sources from inter-firm networking are more important in creating the benefits of open innovation for Chinese small and medium enterprises than their larger peers. Linkages to university and research institutes generally have few direct effects on the innovation performance of both large and small firms in China. However, the role of universities and research institutes is shown to be important among our large firm sample when combined with evident internal absorptive capacity. This interaction is generally limited to our large firm sample, and is not as evident among small firms.Our study indicates that the barriers to the adoption of open innovation by Chinese firms might be largely related to the comparatively weak domestic research expertise and limited organisational absorptive capabilities, with this most particularly evident for small and medium enterprises.These findings suggest that, based on this evidence, there is no need for emerging economies like China to mimic the emergence path from closed to open innovation followed by developed countries. Chinese firms will be more likely to garner the benefits available from openness when they develop the capabilities required to identify, assimilate and commercialise knowledge and technologies obtained from external sources.
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You, Weimu, Asta Salmi, and Katri Kauppi. "Integration of African firms into global value chains." critical perspectives on international business 14, no. 2/3 (May 8, 2018): 252–81. http://dx.doi.org/10.1108/cpoib-11-2016-0056.
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Purpose This paper aims to analyze the roles that African suppliers play in global value chains and the strategies that foreign firms adopt to integrate African firms into their supply chains. Design/methodology/approach The empirical research of this paper is based on a multiple case study and on interview data of foreign buyers and their entry into African supply markets: five Finnish companies and five Chinese companies were interviewed in 2014-2015. Findings The authors find that Finnish firms make relatively small investments and start sourcing operations on a small scale, whereas Chinese firms are running large infrastructural projects, relying on local sourcing. African firms typically only play modest roles with little value capture in the chain, supplying raw materials and simple products. The African infrastructural and cultural context makes it challenging for foreign firms to provide local suppliers with more strategic roles in their chains, thus hindering integration of local firms into global value chains. Originality/value This paper is one of the first to offer a comparison of Finnish (Western) and Chinese (other emerging economy) firms’ sourcing from Africa and provides understanding of the role of African suppliers in current value chains. The authors offer a qualitative exploration of why companies invest in African suppliers and of the scope of African presence in global value chains.
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Yu, Fan, Pingtian Wang, Yun Bai, and Dandan Li. "Governance conflict in Chinese family firms." International Journal of Conflict Management 29, no. 4 (August 13, 2018): 446–69. http://dx.doi.org/10.1108/ijcma-09-2017-0114.
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Purpose According to the real environment of China, the authors collect micro data about Chinese family firms (FFs) to explain why some Chinese FFs still tend to introduce external managers though they have to face governance conflict between family-based managers and external managers. Design/methodology/approach This study analyzes the effect of governance conflict between family-based managers and external managers on firm performance by using ordinary least square test, which is also used to test which factor has influence on governance conflict’s profit promotion effect. Findings This study finds that governance conflict significantly improves firm performance (profit promotion effect). The governance conflict caused by the introduction of external managers in Chinese FFs can significantly improve a firm’s performance by raising its management efficiency and capital investment. Research limitations/implications The governance conflict of the family business needs to be further refined in following research. Besides, this study is only based on the empirical study of cross-section data. Originality/value Different from the existing related research is mainly based on the sample data of listed family enterprises, the China employer-employee matched survey data includes a large number of small and medium-sized FFs, and has obtained the actual situation of how many of the middle and senior managers are external not family members.
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Ma, Zhong Hua. "Bank Lending and Trade Credit: Evidence from Chinese Firms." Applied Mechanics and Materials 52-54 (March 2011): 1470–75. http://dx.doi.org/10.4028/www.scientific.net/amm.52-54.1470.
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The determinants and roles of bank lending, which is formal financing channel and outsides the supply chain, and trade credit, which is informal financing channel and insides the supply chain, are analyzed here through listed firms in China over 2006-2009. In our model we consider the trade credit as a complementary role and more important for small firms. Also with the firms different industry classified, we give the performance of bank lending and trade credit respectively. The estimation results and analysis are given detailed in our paper.
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Chung, Leanne, and Kim Hua Tan. "The unique chinese innovation pathways: Lessons from chinese small and mediuem sized manufacturing firms." International Journal of Production Economics 190 (August 2017): 80–87. http://dx.doi.org/10.1016/j.ijpe.2016.09.004.
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Bian, Yanjie, Juan Xie, Yang Yang, and Mingsong Hao. "Local embeddedness, corporate social capital and Chinese enterprises." Chinese Management Studies 13, no. 4 (November 4, 2019): 860–76. http://dx.doi.org/10.1108/cms-08-2018-0644.
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Purpose The purpose of this study is to examine the impact of corporate social capital and local embeddedness on perceived business performance of Chinese enterprises operating overseas, whose recent growth resulted from the Belt and Road Initiative. Design/methodology/approach This study reports the results of a sample of 83 Shaanxi outward foreign direct investment (FDI) firms operating in Africa, Asia, Australia, Europe and North America. In-depth interviews with a few sampled firms are used to develop the survey questionnaire and help interpret the results of statistical analysis. Findings This study proposes two hypotheses and both are supported by the data. First, corporate social capital is a three-dimensional concept, covering governmental, market and personal sources with each source making an equal, positive effect on perceived overseas performance of the surveyed firms. Second, these firms do better when having developed a higher degree of local embeddedness, a measure on local channels used to obtain information and mobilize resources. While local embeddedness indeed mediates some effect of corporate social capital, both variables have shown direct impact on performance. Research limitations/implications Reported findings are from a small sample of 83 firms in an inland Chinese province, and business performance is measured by subjective evaluation rather than economic output. Practical implications The practical implication is that a Chinese FDI firm is expected to maintain all three relational channels – governmental, market and interpersonal – because the firm can gain different kinds of information and resources from these sources and each channel is necessary and equally important for the firm’s development. Importantly, it needs a different strategy to maintain and best use each channel. For the Belt and Road Initiative to be effective, China must establish platforms through which enterprises can strengthen and reconfigure their corporate social capital, as well as to cultivate and sustain their local networks in foreign destinations.
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Li, Rui, Wei Liu, Yong Liu, and Sang-Bing Tsai. "IPO Underpricing After the 2008 Financial Crisis: A Study of the Chinese Stock Markets." Sustainability 10, no. 8 (August 10, 2018): 2844. http://dx.doi.org/10.3390/su10082844.
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A firm’s capability of raising funding is closely related to its sustainable development. With a more efficient allocation of funding among the whole society, social resources will be better utilized. Initial Public Offering (IPO) can indeed be an effective means of raising capital for corporate ventures. Using 1069 firms which completed IPOs on Chinese stock exchanges between 1st January 2004 and 1st January 2013, we investigate the difference in IPO underpricing before and after the 2008 financial crisis. Based on OLS regression models, we find that the IPOs are less underpriced in the post-crisis period. We examine the moderating effects of firm size on the difference in IPO underpricing between pre- and post-crisis periods, finding that small firms experienced less IPO underpricing than large firms after the financial crisis. After applying different model specifications such as Robust and OProbit regressions, the results remain consistent. Our study contributes to understanding the dynamics and influences of the financial crisis on firms’ IPO cost from the perspective of information asymmetry.
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Bhattacharya, Poulomi, and Badri Narayan Rath. "Innovation and Firm-level Labour Productivity: A Comparison of Chinese and Indian Manufacturing Based on Enterprise Surveys." Science, Technology and Society 25, no. 3 (May 22, 2020): 465–81. http://dx.doi.org/10.1177/0971721820912902.
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This article examines the impact of innovation on labour productivity by using latest World Bank Enterprise Surveys data and compares the results between Chinese and Indian manufacturing sector. The article uses cross-section data based on two surveys that were conducted by the World Bank in 2012 and 2014 for China and India, respectively. By employing simple ordinary least squares (OLS) regression technique, we find that innovation affects the labour productivity positively for Chinese as well as Indian manufacturing firms, but its impact on firm productivity is relatively weak in case of India as compared to China. Second, other factors such as average wage of the workers, education of production workers and training do significantly boost the labour productivity of Chinese manufacturing firms as well as for Indian firms. Third, our results based on firm size also indicate that the impact of innovation activities on labour productivity is higher in case of large firms as compared to medium firms. However, innovation does not affect the labour productivity of small manufacturing firms for both China and India. In terms of policy, it is important for both Chinese and Indian manufacturing firms to keep pursuing innovation activities, in order to spur productivity, which would strengthen firms’ growth.
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Feng, Yanan, Da Teng, and Bin Hao. "Joint actions with large partners and small-firm ambidexterity in asymmetric alliances: The mediating role of relational identification." International Small Business Journal: Researching Entrepreneurship 37, no. 7 (April 8, 2019): 689–712. http://dx.doi.org/10.1177/0266242619842592.
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This article investigates the role of relational identification in the relation between joint actions and small-firm ambidexterity in asymmetric alliances. Using survey data on Chinese high-technology firms, we find that joint problem-solving and joint sensemaking are both positively associated with a small firm’s relational identification. We also find a positive relationship between a small firm’s relational identification and knowledge exploration and exploitation. More importantly, we show that relational identification mediates the relationships between joint actions (i.e. joint problem-solving and joint sensemaking) and small-firm ambidexterity, except for the relationship between joint sensemaking and small-firm knowledge exploitation. This study advances our understanding of the association between joint actions and ambidexterity by providing a social identification explanation.
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Du, Chunyan, and Qiang Zhang. "Supply network position, digital transformation and innovation performance: Evidence from listed Chinese manufacturing firms." PLOS ONE 17, no. 12 (December 15, 2022): e0279133. http://dx.doi.org/10.1371/journal.pone.0279133.
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This study provides evidence for the supply network position influencing innovation performance and the moderating effect of digital transformation. Supply chain relationships have been evaluated in earlier research to demonstrate how concentrations of customers and suppliers may either favorably or adversely impact innovation. These metrics, however, only take into account how closely a firm is connected to its direct customers or suppliers. This study integrates the top five suppliers and customers of Chinese listed manufacturing firms and considers the relationship embeddedness of each firm’s direct customers and suppliers, as well as the structure embeddedness among the customers’ customers, customers’ suppliers, suppliers’ customers, and suppliers’ suppliers to reveal the true impact of supply chain relationships on innovation performance. The top five suppliers and consumers of each firm are chosen to build a supply network for each year using panel data of listed Chinese manufacturing firms from 2013 to 2020. Social network analysis is used to determine network centrality and structural holes. The results show that in the supply network, network centrality and structural holes are significantly negatively correlated with innovation performance, especially in small and medium-sized firms, non-state-owned firms, and firms in recession phase. According to the moderating effect model, digital transformation is an efficient way to reduce the negative effect of supply network position on innovation performance. The research results will further improve the supply network cooperation mechanism, which is of great significance for improving supply chain resilience and firms’ innovation.
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Jarvenpaa, Sirkka L., and Ji-Ye Mao. "Operational Capabilities Development in Mediated Offshore Software Services Models." Journal of Information Technology 23, no. 1 (March 2008): 3–17. http://dx.doi.org/10.1057/palgrave.jit.2000125.
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The paper expands theoretical and empirical understanding of capabilities development in the mediated offshore outsourcing model whereby a small or a medium-sized firm delivers offshore software services to a larger information technology firm that in turn contracts and interfaces with the actual end-client onshore firms. Such a mediated model has received little prior research attention, although it is common particularly among Chinese firms exporting services to Japan, the largest export market for Chinese software services. We conducted case studies in four China-based software companies to understand the mechanisms used to develop their operational capabilities. We focused on client-specific, process, and human resources capabilities that have been previously associated with vendor success. We found a range of learning mechanisms to build the capabilities in offshore firms. Results show that the development of human resources capabilities was most challenging in the mediated model; yet foundational for the development of the other capabilities. This paper contributes to the information systems literature by improving our understanding of the development of operational capabilities in small- and medium-sized Chinese firms that deploy the mediated model of offshore software services.
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Yang, Xu. "Different choice of strategic innovation among companies in China market." Journal of Science and Technology Policy Management 5, no. 2 (July 1, 2014): 106–21. http://dx.doi.org/10.1108/jstpm-02-2014-0006.
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Purpose – The purpose of this paper is to test the difference among foreign and domestic cosmetics firms in terms of types of strategic innovations they chose in the Chinese market, and the difference between domestic large-sized cosmetics firms and cosmetics small- to medium-sized enterprises (SMEs) about types of strategic innovation they choose in the Chinese market. Design/methodology/approach – The independent-sample t-test was used to compare foreign and domestic cosmetics firms and domestic SMEs and large-sized cosmetics firms. Findings – Foreign and domestic cosmetics firms should not choose the same type of strategic innovations, and it also showed that Chinese domestic large-sized firms and SMEs should not choose the same types of strategic innovations. Research limitations/implications – China is the exclusive place of focus. Only 19 types of strategic innovations were analyzed. There may be other variables that have not been addressed in the study. Practical implications – Though other large-sized companies achieved considerable profitability or growth by using some types of strategic innovations, the same types may not contribute to the same profitability or growth for SMEs. Although foreign cosmetics companies had great growth and profitability in the Chinese market, domestic large-sized companies should not blindly follow them as their needs and situations are different. Originality/value – From this t-test analysis, it is clear that foreign cosmetics firms and domestic cosmetics firms chose different types of strategic innovation in the Chinese market. Meanwhile, domestic large-sized cosmetics firms and SMEs chose different types of strategic innovation.
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Siu, Wai‐sum. "Marketing and company performance of Chinese small firms in Hong Kong." Marketing Intelligence & Planning 18, no. 5 (October 2000): 292–307. http://dx.doi.org/10.1108/02634500010343991.
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Siu, Wai-sum, and Qiong Bao. "Network Strategies of Small Chinese High-Technology Firms: A Qualitative Study." Journal of Product Innovation Management 25, no. 1 (December 7, 2007): 79–102. http://dx.doi.org/10.1111/j.1540-5885.2007.00284.x.
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Fu, Na, Qinhai Ma, Janine Bosak, and Patrick Flood. "Exploring the relationships between HPWS, organizational ambidexterity and firm performance in Chinese professional service firms." Journal of Chinese Human Resource Management 6, no. 1 (May 11, 2015): 52–70. http://dx.doi.org/10.1108/jchrm-09-2014-0029.
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Purpose – The purpose of this paper is to better understand the indirect link between high-performance work systems (HPWSs) and firm performance in Chinese professional service firms (PSFs) by investigating the mediating role of organizational ambidexterity, i.e. a firm’s capability to simultaneously explore new ideas and exploit existing resources. Design/methodology/approach – Data were collected from 120 Chinese accounting firms. The authors used hierarchical and polynomial regression analyses to test their hypotheses. Findings – The proposed positive link between the HPWS and organizational ambidexterity was found. Further, the results showed a non-linear relationship between organizational ambidexterity and organizational performance. Research limitations/implications – The present study is limited in terms of small sample size, single industry and self-report data. Practical implications – Firms which reported a higher level of HPWS demonstrated better performance due to their organizational capability to explore new ideas and exploit existing resources. In the Chinese context, firms that had high levels of exploration (exploring new resources) and exploitation (exploiting existing resources) or that had a high level of exploration experienced higher performance. The authors can conclude from these findings that without exploration, organizational success is difficult to achieve for PSFs. Originality/value – This is the first study examining the underlying mechanism of organizational ambidexterity in the indirect relationship between HPWS and firm performance in Chinese PSFs. It advances the authors understanding of HPWS and firm performance relationship in an Eastern country and an emerging context of PSFs. This is also the first study to use polynomial regression to operationalize organizational ambidexterity.
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Soh, Seung-Bum, and Seung-Jae Park. "A Study of the Bullwhip Effect Across Korean Firms: Evidence from KOSPI-Listed Firms." Institute of Management and Economy Research 13, no. 3 (September 30, 2022): 281–91. http://dx.doi.org/10.32599/apjb.13.3.202209.281.
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Purpose - We study whether the bullwhip effect is prevalent among Korean firms and how the characteristics of it differ from the ones in other countries. Design/methodology/approach - We obtained quarterly financial and operational information on KOSPI-listed firms in manufacturing, wholesale, and retail industries from 2013 to 2019. We explore the variation of the bullwhip effect across firms and validate hypotheses . Findings - First, we find that for the KOSPI-listed firms, the bullwhip effect is more prevalent compared with the production smoothing. We provide additional findings by using sub-samples of manufacturing firms, wholesaling and retailing firms, big-sized firms, small- and medium-sized firms, domestic-sales intensive firms, and export intensive firms. Second, we show that in general, the bullwhip effect of Korean firms increases with the days in inventory or the demand seasonality ratio. However, the persistence of demand shock does not affect the bullwhip effect of Korean firms. Research implications or Originality - We compare our results with those in other studies that use information on the U.S. and Chinese firms. Our findings show that factors explaining the bullwhip effect across Korean firms have similarities and differences compared with firms in the U.S. and Chinese firms.
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Hong, Paul C., Kainan Wang, Xu Zhang, and Youngwon Park. "Trend analysis of Global Fortune 500 firms: a comparative study of Chinese and Japanese firms." Benchmarking: An International Journal 24, no. 1 (February 6, 2017): 50–61. http://dx.doi.org/10.1108/bij-12-2014-0110.
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Purpose Over the decade the trend of Global Fortune 500 firms has shown significant changes – Japanese and Chinese firms in particular. The purpose of this paper is to present trend analysis of Global Fortune 500 – Japanese and Chinese firms. Key research questions are: what are the relevant macro-level changes that have affected the growth and decline of Japanese and Chinese firms? What are the industry-level changes that have occurred in Japanese and Chinese firms in terms of firm characteristics and financial performances? What are the lessons and implications from the firms added to or removed from Global Fortune 500? Data analysis is conducted based on Fortune database from 1995 to 2013. Design/methodology/approach The study employs descriptive analysis to examine the trend of Japanese and Chinese firms listed in Global Fortune 500 including: based on revenue and profit figures from 1995 to 2013; the authors perform trend analysis for each of those five types from 1995 to 2013; the authors replicate the analyses for different industry types in terms of the above five types; the authors compare the performances of Japanese and Chinese firms; based on 2011-2013 data, the authors conduct more in-depth analysis for selected firms. Findings The findings suggest five distinct types of firms including “Sustainables,” “New Comers,” “Move Ups,” “Decliners,” and “Drop Outs”; it is interesting to note that the changes in Global Fortune 500 firms suggest how these two countries show their relative competitive advantage. Chinese firms show steady flows of new firms that join in the rank of Global Fortune 500 whereas Japanese firms suggest continuous drop of firms that move out of Global Fortune 500 firms. As China increases its size of economy, state-owned financial institutions, resource-focus firms (e.g. mining and petroleum) firms also rapidly increased its overall size. Although the number is still small, privately owned Chinese global firms (e.g. Lenovo, Huawei, Zhejiang Geely Holding Group, Ping An Insurance) also are now listed as Global Fortune 500 firms. In contrast, Japanese firms that lost their global market positions steadily disappeared from Global Fortune 500 firms. Representative firms include Daiei, Mitsubishi Motor Company, and NEC. Research limitations/implications One limitation of the analysis on financial indicators is that the authors select only a few firms and focus only on two time points. Nevertheless, it provides the authors information about the financial factors that characterize the two types of Global Fortune 500 firms. Moreover, it opens up new opportunities for future research. Practical implications Factors that influence the behaviors of Global Fortune 500 firms suggest both external environmental and internal managerial factors. Although serious external factors (e.g. Global Financial Crisis) affect the outcomes of these competitive positioning, it is still the managerial leadership that makes differences in cases of many Japanese firms. To Japanese firms maintaining domestic advantage is not enough to sustain their position in Global Fortune 500. Global competitiveness matters. On the other hand, it is unclear whether changes occurring in Chinese firms are more managerial than externally dictated. In case of many Chinese financial firms and resource rich firms, the huge domestic advantage has much to do with their position in Global Fortune 500. Originality/value This is the first trend analysis that examines the Global Fortune 500 firms from Japan and China. The authors identify five types of firms that would be an important basis for the further benchmarking studies of Global Fortune 500 firms in other counties (e.g. the USA, Germany, Korea, and other Emerging Economies – Russia, India, Brazil).
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Fonseka, M. M., Gao-liang Tian, and Liu-chuang Li. "Impact of financial capability on firms’ competitiveness and sustainability." Chinese Management Studies 8, no. 4 (October 28, 2014): 593–623. http://dx.doi.org/10.1108/cms-09-2011-0066.
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Purpose – The purpose of this paper is to investigate the impact of different sources of external financing and internal financial capabilities on competitiveness and sustainability. This paper also studies the nature of their relationships related to regulations on external financing in Chinese capital market. Design/methodology/approach – Resource- and industry-based views provide a theoretical background. Based on balanced panel of 4,530 firm-year observations, hierarchical regressions were used to examine the research model. Findings – Results support the idea that the strict Chinese regulatory regime allows some firms to access capital and debt markets for financing more than others. It was found that firms’ internal financing abilities do not offer a significant advantage compared to external financing abilities; firms’ abilities to raise capital from existing shareholders, the public and easy access to bank financing are related positively for an advantage on firm’s competitiveness within a industry. Firms with the ability to offer shares to existing shareholders, issue non-convertible and convertible bonds and access to bank financing are sustainable in long-run. Research limitations/implications – This study focuses on sources of financial capability of Chinese listed firm impact on competitiveness and sustainability. It is context specific to a regulated market. Hence, it is necessary to replicate this study in other contexts. Practical implications – Implications include the need to mobilize external financial resources for small and privately-owned firms and to further reform security regulations to ensure fair competition and sustainability. Originality/value – The authors originally investigate the effect of sources of financial capability impact on firms’ competitiveness and sustainability in a regulated market. The paper explains the relationships, and enhances the understanding of regulated capital market and existing literature.
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Li, Jun, and Harry Matlay. "Graduate Employment and Small Businesses in China." Industry and Higher Education 19, no. 1 (February 2005): 45–54. http://dx.doi.org/10.5367/0000000053123637.
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In contemporary China, there are two far-reaching developments that impact directly on graduate employment: (a) a highly entrepreneurial and rapidly growing small business sector and (b) a rapidly expanding higher education sector. Paradoxically, while the small business sector continues to suffer from acute skills shortages, new graduates are still reluctant to seek employment in smaller firms. The attitudes of Chinese graduates are not unusual, and most tend to perceive employment and promotion prospects as significantly better in larger organizations. Competition for jobs in China is increasing and there is growing pressure on new graduates to consider smaller firms as a viable and long-term career option. The authors argue that it is necessary to take a holistic view of graduate employment issues and to facilitate better and closer linkages between small and medium-sized enterprises (SMEs) and higher education institutions. This article highlights the need of the Chinese small business sector for a better qualified and more dynamic graduate labour force to help sustain the momentum of rapid growth experienced in recent years. It highlights specific areas in which the higher education sector could make a significant contribution to the long-term competitiveness of SMEs in China. The scope and direction of further research are identified and discussed.
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NG, BEOY-KUI, and ENG-JUAN NG. "DYNAMISM OF SMALL CHINESE BUSINESS ENTERPRISES IN MALAYSIA AND SINGAPORE." Journal of Enterprising Culture 01, no. 03n04 (January 1994): 497–508. http://dx.doi.org/10.1142/s0218495894000124.
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Numerous studies have been done and various explanations have been advanced in the literature on overseas Chinese business success and entrepreneurial capabilities. However, most of the studies are broad-based and focused on the macro-level; there is relatively little account in the literature on the more down-to-earth, micro-level entrepreneurial characteristics and management styles of the small Chinese firms that have contributed to their success. The purpose of this paper is to record our observations of the more down-to-earth aspects of the entrepreneurial characteristics and management styles of small Chinese businesses in Malaysia and Singapore that have contributed to their success. We also attempt to relate these peculiar characteristics and styles to Sun Zi’s in “Art of War”.
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Cui, Zhiyu, Xiaoya Liang, and Xiongwen Lu. "Prize or Price? Corporate Social Responsibility Commitment and Sales Performance in the Chinese Private Sector." Management and Organization Review 11, no. 1 (March 2015): 25–44. http://dx.doi.org/10.1111/more.12033.
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ABSTRACTStudies on the relationship between corporate social responsibilities (CSR) and firm performance have mostly looked at large public firms in developed countries. In this study, we analyze this relationship using a sample of privately owned firms in China, a developing economy context. We hypothesize a negative relationship between commitment to CSR and average sales growth for privately-owned firms operating in weak institutional environments. Further, we hypothesize that smaller firms will show a stronger negative relationship than larger firms. CEO survey data from a sample of 630 Chinese private firms confirm the moderating role of firm size. However, the results are not entirely as expected. The negative relationship is observed in small firms (100 or fewer employees), but the relationship is positive for large firms (greater than 1000 employees), consistent with the literature. We discuss implications for public policy and future research.
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Gebre-Egziabher, Tegegne. "Impacts of Chinese imports and coping strategies of local producers: the case of small-scale footwear enterprises in Ethiopia." Journal of Modern African Studies 45, no. 4 (November 12, 2007): 647–79. http://dx.doi.org/10.1017/s0022278x07002911.
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ABSTRACTThe footwear sector in Ethiopia is dominated by cheap imports from Asia, particularly from China. This has inflicted heavy impacts on the sector, and threatened its competitiveness in the domestic market. This study examines the impact of imports and coping strategies of firms to withstand the competition. Firm level data were gathered from micro, small and medium footwear enterprises. The findings revealed that Chinese shoes are superior in design, price and quality, with the result that they have taken over the domestic market. The impact of Chinese imports on local producers varied from downsizing, bankruptcy, loss of assets and property, to downgrading activities and informalising operations. Firms have pursued coping strategies that focused on improving design and quality, as well as lowering prices and profit margins. Coping strategies appear to be differentiated by size of firms, and have some association with the performance of firms. The ways forward for local producers should focus on collaborative engagements of stakeholders and government to overcome the competitive disadvantages of firms. Training, technology, quality control, benchmarking and reorganization of production should be designed as a package of intervention. In addition, strengthening local producers to engage in collective actions and promoting exports should also be given proper attention.
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Su, Fang, Zaheer Khan, Yong Kyu Lew, Byung Il Park, and Umair Shafi Choksy. "Internationalization of Chinese SMEs: The role of networks and global value chains." BRQ Business Research Quarterly 23, no. 2 (April 2020): 141–58. http://dx.doi.org/10.1177/2340944420916339.
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This article examines the role of networks and global value chains (GVCs) and how they influence emerging economy small- and medium-sized enterprises’ (EE-SMEs) internationalization. Drawing on the insights, experiences, and perspectives of entrepreneurs and senior managers of small- and medium-sized enterprises (SMEs) that have originated from China, the study adopts qualitative approach and examines nine firms’ internationalization. We find that Chinese born-global manufacturing SMEs benefit from networks with quick insidership position into GVCs, but suffer from various obstacles that hinder their further development. The findings further indicate that network ties substantially facilitate EE-SMEs’ internationalization, but also restrict their future global development, as their low position within the GVCs impedes further business development and capability building. The case firms’ lower position within the GVCs weakens the networks’ influence on their GVC upgrading. The research identifies key enablers of GVC engagement and obstacles of GVC upgrading of the case firms which play an important role in the EE-SMEs’ internationalization. JEL CLASSIFICATION: M10; M16
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Li, Yubo. "The Investment Bank’s Reputation And The Price Of Underwriting Services: Evidence From China." European Scientific Journal, ESJ 12, no. 16 (June 28, 2016): 498. http://dx.doi.org/10.19044/esj.2016.v12n16p498.
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In this paper, I examine the influence of the investment bank’s reputation on the price of underwriting services of Chinese firm. Based on a sample of offers from 2004-2015, the results show that prestigious investment banks charge higher fees. Furthermore, in comparison to big firms, prestigious investment banks charge more underwriting fees for small firms. In comparison to state-owned firms, high-reputation investment banks charge higher underwriting fees for non-state-owned firms. The results indicate that the investment bank’s reputation capital is different for different firms. For firms with more information problems, the reputation of investment banks is more valuable.
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Lu, Hualiang, Jacques Trienekens, Onno Omta, and Shuyi Feng. "The role of guanxi networks and contracts in Chinese vegetable supply chains." Journal on Chain and Network Science 7, no. 2 (December 1, 2007): 121–31. http://dx.doi.org/10.3920/jcns2007.x082.
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This paper investigates the effect of personal relationships (called guanxi in China) and contractual governance on compliance with channel requirements and on market performance for both vegetable farmers and processing and exporting firms in China. A survey of 167 farmers and 84 firms in Jiangsu Province, P.R. China provides the data for empirical study based on a structural model. The results demonstrate that guanxi networks in China significantly improve small-scale farmers' compliance with buyers' delivery requirements based on formal contracts, which eventually improves farmers' market performance. Vegetable firms, on the other hand, place more emphasis on formal contracts in order to improve suppliers' compliance with delivery requirements and thereby improve their own profitability. The results reveal that personal relationships and contracts have different impacts on farmers and firms.
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Li, Wanli, Weiwei Gao, and Wei Sun. "Market Feedback And Managers’ Decisions In Private Placement – Evidence From Chinese Family Firms." Journal of Applied Business Research (JABR) 32, no. 4 (June 30, 2016): 1049–62. http://dx.doi.org/10.19030/jabr.v32i4.9721.
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What effect does market feedback have on managers’ decisions on private placement in family firms? Based on information asymmetry, agency theory, and corporate governance theory, we investigate the relationship between managers’ final decisions and market feedback to the announcement. We find that managers in family firms accept market feedback in decision-making and their attitude can be affected by many external factors. Managers tend to listen to the market when family firms are non-high-tech, when family members participate in purchasing the placed shares, when family members serve as managers, and when separation of control rights from ownership is small.
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Wan, Yezhen, and Leon Wong. "Ownership, related party transactions and performance in China." Accounting Research Journal 28, no. 2 (September 7, 2015): 143–59. http://dx.doi.org/10.1108/arj-08-2013-0053.
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Purpose – The purpose of this paper is to investigate the relative performance of state-owned enterprises (SOEs) and privately controlled firms in China, and whether related party transactions (RPTs) add to or subtract from their relative performance, measured by return on assets (ROA). Design/methodology/approach – Univariate and multivariate analyses of a sample of 90 firms that were listed in China between 2007 and 2009 (comprising 45 SOEs and 45 privately controlled firms matched on industry and size). Findings – The authors find that SOEs engage in more tunneling, but find no evidence that privately controlled firms engage to a greater degree in either tunneling or propping. During this period, SOEs outperformed privately controlled firms by almost 4.5 per cent in terms of ROA (unadjusted for RPTs), but their performance advantage was completely offset by tunneling by about 6 per cent of ROA such that they underperformed privately controlled firms by a net 1.5 per cent of ROA. Research limitations/implications – The research is limited by a relatively small sample size, and in measuring the value of RPTs as the total value of the transactions (which is observable) instead of the difference between the transaction prices and arms-length prices (which would be preferable but is not observable). Practical implications – The economics of investing in Chinese firms with different controlling interests and RPTs may be of interest not only to investors and other stakeholders in Chinese firms listed domestically, but also to international investors in overseas and cross-listed Chinese firms. Originality/value – This paper synthesizes research from ownership on performance and RPTs on performance, to disentangling the relative effects of ownership control and RPTs on the performance of Chinese publicly listed firms.
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Siu, Wai-sum. "Marketing Philosophies and Company Performance of Chinese Small Firms in Hong Kong." Journal of Marketing Theory and Practice 8, no. 1 (January 2000): 25–37. http://dx.doi.org/10.1080/10696679.2000.11501858.
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Li, Min, and Paul Edwards. "Work and pay in small Chinese clothing firms: a constrained negotiated order." Industrial Relations Journal 39, no. 4 (July 2008): 296–313. http://dx.doi.org/10.1111/j.1468-2338.2008.00489.x.
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Ma, Dali, and Xiaowei Rose Luo. "The Intersection of Economic, Social, and Political Forces: Small and Medium-Sized Enterprises and Family Businesses in China." Management and Organization Review 18, no. 2 (April 2022): 216–22. http://dx.doi.org/10.1017/mor.2022.12.
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Small and medium-sized enterprises (SMEs) play a significant role in China. Based on recent statistics, about 67% of firms were non-state owned, which contributed 47% of the R&D in 2017 (Report of the Top 500 Firms in China, 2017). The majority of these firms are SMEs, many of which are family businesses. Despite their importance, we lack both theoretical and empirical understanding of how these firms cope with the opportunities and challenges in China's fast-changing transitional market. In light of the mission of Management and Organization Review (MOR), i.e., publishing ground-breaking insights about management and organizations in China, we called for this special issue in order to promote the value of the unique Chinese institutional context for management inquiries.