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1
Liang, Xiaobei, Xiaojuan Hu, and Hu Meng. "Truly Sustainability or Hypocrisy: The Effects of Corporate Sustainable Orientation on Consumers’ Quality Perception and Trust Based on Evidence from China." Sustainability 12, no. 7 (March 31, 2020): 2735. http://dx.doi.org/10.3390/su12072735.
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Sustainable initiatives have been widely fulfilled by corporations, which can acquire better reputations by performing environmental, social, and economic responsibilities. However, if a corporation’s propaganda about sustainable orientation is contrary to the actual action, or even does not have a clear orientation, then it may also fall into the reputation of hypocrisy. In this study, from the perspective of consumer behavior and based on the moral responsibility theory of corporate sustainability, we identify six types of sustainable corporations by their orientations toward sustainability, including value, goals, and structure. We empirically examine their direct effects on consumers’ sustainable quality perception and trust, as well as the moderating effects of corporate social responsibility associations and consumer–corporation identity. Data are collected in China; 203 adults participated in the survey. The results reveal that the types of sustainable goals and structure have a significant effect on consumers’ sustainable quality perception and trust. Furthermore, consumers’ perception is also positively associated with their trust in a corporation. Moreover, the consumer–corporation identity negatively moderates the relationship between perception and trust. These findings also bring theoretical and practical insights for governments and corporations.
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Junhai, Liu. "Experience of Internationalization of Chinese Corporate Law and Corporate Governance: How to Make the Hybrid of Civil Law and Common Law Work?" European Business Law Review 26, Issue 1 (February 1, 2015): 107–28. http://dx.doi.org/10.54648/eulr2015007.
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This paper focusses on the Chinese approach to corporate governance. It begins with a survey of the historical foundations of the modern corporate law of China. The unique relationship which arose between Chinese markets and foreign suppliers from the consular judiciary power enjoyed by many nations in the early twentieth century and its impact on the development of Chinese corporate law is considered first. A specific focus is the circumstances surrounding the drafting of the first Chinese Corporate Law of 1904, enacted with the goal of making China a strong commercial power. The hybrid nature of the first Chinese corporate law, being drawn from Japanese and English structures, and its impact on modern legislative approaches to corporate law form the basis of the discussion of the relationship between the facets of the modern corporation in China. The position of shareholders as the corporate power centre, their relationship with the boards of directors and supervisors, and the powers of each are noted. Another core focus is the method of enforcement of the corporate law in China. The proper plaintiff, defendant and the possibility of derivative actions under the Corporate Law of 2013 are discussed, with a particular focus on the ability of shareholders to bring actions to protect the interests of the corporation. These powers must be exercised so as to guard against possible abuses of restrictions on action by wrongdoing supervisors and directors acting in collusion. The article concludes with an analysis of the role of the Chinese Securities Regulatory Commission (CSRC) in improving corporate governance. Significantly, it is noted, that the possibility of class actions in China can be used to hold corporations, controlling shareholders, and management accountable for exercises of power which are against the public interest.
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Bowen, J. Ray, and David C. Rose. "On the Absence of Privately Owned, Publicly Traded Corporations in China: The Kirby Puzzle." Journal of Asian Studies 57, no. 2 (May 1998): 442–52. http://dx.doi.org/10.2307/2658832.
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In a recent article in this journal, William C. Kirby (1995) chronicled the development of China's Company Law, which was crafted in 1904 to promote industrial development by codifying a commercial code. Among other objectives, the Company Law was aimed at providing institutional support for the emergence of modern legal corporations. Indeed, it was a widespread belief among the Qing reformers of the period that “Modern industrial capitalism … demanded Western corporate structures to do business’ (Kirby 1995, 43). Kirby argued that after numerous revisions it has become clear that the Company Law has failed to promote the emergence of privately owned, publicly traded corporations. Given China's rich commercial tradition, its dramatic post-1978 reforms, and its rapid economic growth over the last two decades, Kirby's finding raises a most puzzling question for China scholars: Why is there not a single privately owned, publicly traded corporation (PPC) in mainland China?
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Wenqi, Chen. "China Energy Conservation Investment Corporation." Energy for Sustainable Development 3, no. 3 (September 1996): 5–6. http://dx.doi.org/10.1016/s0973-0826(08)60187-8.
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Jin, Fengliang. "On the environmental civil public interest litigation system for the protection of the climate in China: Comments on two cases from a pragmatism perspective." Journal of World Energy Law & Business 14, no. 1 (February 20, 2021): 17–24. http://dx.doi.org/10.1093/jwelb/jwab006.
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Abstract This article examines and analyses the environmental civil public interest litigation system in the protection of climate change in China through two cases, the All-China Environment Protection Federation v Zhenhua Co, Ltd for air pollution and Friends of Nature v State Grid Gansu Electric Power Corporation for full-purchase of all on-grid power produced by renewable energy.
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Jin, Yan, and Chao Wang. "Chinese court rules for the first time that it has jurisdiction over SEP global licensing disputes." Journal of Intellectual Property Law & Practice 17, no. 2 (January 31, 2022): 81–82. http://dx.doi.org/10.1093/jiplp/jpab180.
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Abstract OPPO v Sharp Corporation: Jurisdictional Objection in Global Rate Setting of Standard Essential Patent ((2020) Zui Gao Fa Zhi Min Xia Zhong No. 517), 19 August 2021 The Intellectual Property Court of the Supreme People’s Court (SPC) of China ruled that Chinese courts have jurisdiction over global licensing terms disputes for standard essential patent (SEP) in the communications sector.
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이홍욱 and 손영기. "A Comparative Study on Supervisory Systems of the Corporation Law between China and Korea." Dankook Law Riview 38, no. 4 (December 2014): 251–79. http://dx.doi.org/10.17252/dlr.2014.38.4.009.
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Yan, Wenjun. "The Zhenhua Case: the emergence of civil environmental public interest litigation in China." Journal of World Energy Law & Business 14, no. 2 (April 1, 2021): 116–28. http://dx.doi.org/10.1093/jwelb/jwab008.
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Abstract In 2015, the All-China Environment Federation v Dezhou Jinghua Group Zhenhua Corporation Limited case was the first civil environmental public interest litigation (CEPIL) against air pollution in China. Constituting a milestone in the field of air pollution control in China, this case (i) confirms the eligibility of a non-governmental organisation (NGO) to file civil public interest litigations; (ii) discusses remedies for the ecological destruction caused by air pollution; (iii) assesses the ecological and environmental damage using the ‘virtual restoration cost’ method; and (iv) uses public apology as an innovative way for Zhenhua to assume liability. By applying and interpreting several important rules under the Environmental Protection Law of China (EPLC) for the first time, this case sets an example for future CEPILs against air pollution in China.
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ROISAH, Kholis. "Employee-Inventor’s Right to Compensation in Patent Law System in Indonesia and some Countries." Journal of Advanced Research in Law and Economics 9, no. 7 (November 21, 2019): 2415. http://dx.doi.org/10.14505//jarle.v9.7(37).28.
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The understanding of the regulation of compensation system gives a picture of how an owner of a corporation determines his/her business strategy as well as avoiding conflict with employees. For employees, it is important to understand how the corporation regulates the compensation system so that they know their rights. Understanding compensation system also encourages employees to be innovative. This study is about compensation to employee inventor and the regulation of how the compensation is granted and how much the corporation spends to compensate their employee inventors. The regulation of compensation system for employee inventors in Indonesia has not been regulated clearly and measurably in patent law as well as in labor legislation. In some other countries (Japan, South Korea, China, French and Germany), the regulation of compensation system is a mandatory rule in nature, and even the regulation of mechanism, the amount and the institutional system of the compensation have been well regulated in their patent, labor or manpower, employee inventions and innovation, and technology promotion law. The regulation of the right to compensation that is clear and measurable in some top rank countries has been proven to be able to boost not only innovation climate and promotion of Science and technology, but also economy growth.
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Yang, Xiaoting, Jie Yang, and Ning An. "Social Networks, Social Responsibility, and Sustainable Development of Chinese Corporations in Africa." Sustainability 14, no. 3 (January 18, 2022): 1097. http://dx.doi.org/10.3390/su14031097.
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Based on the questionnaire data and the qualitative data obtained in two field surveys in Zimbabwe in 2018 and 2019, this study examined local people’s attitudes towards Chinese corporations. Focusing on locals’ impressions of Chinese corporations and their willingness to support the sustainable development of Chinese corporations as dependent variables, and using demographic statistics, social networks, and social responsibility as independent variables, we applied multiple linear regression analysis to explore the effect of Chinese corporations’ social networks and social responsibility on their sustainability. The findings showed that social networks overall help to enhance locals’ impressions of Chinese corporations, but social networks have no positive impact on local communities’ willingness to support more Chinese corporations. In contrast, corporate social responsibility clearly has a much greater impact on the capability of the corporation to gain support from local communities for its sustainable development. This study speaks to the need for a scholarly investigation of China–Africa links as a global hotspot issue and provides a reference value for Chinese or other corporations for how to handle the relationship with local communities.
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Li, Zhenghui, Yan Wang, Yong Tan, and Zimei Huang. "Does Corporate Financialization Affect Corporate Environmental Responsibility? An Empirical Study of China." Sustainability 12, no. 9 (May 2, 2020): 3696. http://dx.doi.org/10.3390/su12093696.
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This paper explores the effects and mechanisms of corporate financialization on corporate environmental responsibility (CER), using panel regression and the panel quantile regression model. The data is from 484 Chinese A-share non-financial listed companies, over the period 2008–2015. Some valuable results were achieved, as follows. Firstly, corporate financialization has a significantly negative impact on CER. We attribute this fact to the hard constraint of shareholder value maximization and the soft constraint of CER by taking an extrinsic analysis. Moreover, this negative impact shows heterogeneity. As the CER level increases, the remarkable restraint taken by the corporate financialization on CER is gradually weakened. This results in the corporation aiming not only at the shareholder value maximization, but also at the social effect, rather than only the former. In addition, the effect of the moderating role played by corporate leverage and ownership concentration in the influence of corporate financialization on the CER is captured in different kinds of corporations, while different performances are shown.
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WANG, MIAO. "A Study on the Doctrine of the Disregard of the Corporate Entity in China Corporation Law." Northeast Asian law journal 14, no. 1 (May 31, 2020): 1–25. http://dx.doi.org/10.19035/nal.2020.14.1.1.
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Lin, Li-Wen. "Mandatory Corporate Social Responsibility? Legislative Innovation and Judicial Application in China." American Journal of Comparative Law 68, no. 3 (September 1, 2020): 576–615. http://dx.doi.org/10.1093/ajcl/avaa025.
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Abstract Corporate social responsibility (CSR) is often understood as voluntary corporate behavior beyond legal compliance. The recent emergence of CSR legislation is challenging this typical understanding. A number of countries including China, Indonesia, and India have expressly stated in legislation that companies shall undertake CSR. However, the CSR law is controversial. Critics of CSR see the law as an unwise effort to challenge profit maximization as the only social responsibility of the corporation. Even CSR advocates welcome the CSR law with great caution. Given the vague statutory language of CSR, the practical application of the law places high demands on the judiciary. However, as the countries that have adopted the CSR law are mainly developing countries with rather weak legal institutions, it raises a common concern that the law is simply an innovation without implementation. This Article conducts an empirical study of China, an early adopter of CSR legislation. The empirical analysis of Chinese court cases reveals what the CSR law means in judicial practice, whether CSR is in fact mandatory, and in what types of disputes CSR is relevant or outcome determinative. Among various findings, this Article shows that the CSR law is by no means as useless as commonly expected. The meaningful application of the law is attributable to the law’s compatibility with China’s legal infrastructure and sociopolitical institutions. Chinese courts have innovatively applied CSR in various contexts far beyond the traditionally Western-led focus on directors’ fiduciary duties. The Chinese experience suggests that the CSR law is more of a judicial review standard than a corporate behavior standard, which further confirms the importance of judicial capacity in implementing the vague law. This Article concludes with insights for the corporate purpose debate from a comparative perspective and with policy suggestions for adopting CSR legislation.
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Wakely, Jonathan R., David N. Fagan, and Mark E. Plotkin. "The Ralls Case: Lessons for Foreign Investors." Global Trade and Customs Journal 8, Issue 7/8 (July 1, 2013): 198–201. http://dx.doi.org/10.54648/gtcj2013027.
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In September 2012, for only the second time in history, the President exercised his statutory authorities to prohibit the acquisition of a US company on national security grounds. This matter, involving Chinese-controlled Ralls Corporation, offers valuable lessons for foreign companies contemplating US investments. In particular, the Ralls case highlights the dangers associated with transactions that close without CFIUS consideration, the risks associated with physical proximity to sensitive US facilities, and the benefits of early consultations with experienced CFIUS counsel. At the same time, the Ralls matter does not portend any change in US openness to foreign investment-including from China.
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Ruskola, Teemu. "People, Inc.? Law, Economic Enterprise, and the Development of Inequality in China." American Journal of Comparative Law 67, no. 2 (June 2019): 383–434. http://dx.doi.org/10.1093/ajcl/avz003.
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Abstract This Article tells the story of two Chinas and of different forms of public enterprise associated with each: state-owned enterprises (SOEs) in urban China and township-and-village enterprises (TVEs) in rural China. Historically SOEs have constituted the dominant form of socialist enterprise in China. However, China’s unprecedented economic growth began with the rise of rural industry in the 1980s, and the bulk of rural growth was generated by a new type of entity known as TVEs. While legal scholars have mostly ignored TVEs, economists have devoted a great deal of theoretical attention to them: How were TVEs able to succeed in the absence of legally protected property rights, in defiance of standard economic theory? Remarkably, they operated without a formal legal basis. This Article argues that long before the enactment of the PRC’s first Company Law in 1993, in TVEs local government law performed the core functions of corporation law—a phenomenon this Article characterizes as “Village, Inc.” It was this law of local governance, and the formal and informal institutions supporting it, that propelled China’s phenomenal growth for nearly two decades while helping close the historic welfare gap between city and country. The Article next compares TVEs’ record of success with that of SOEs. The Company Law promulgated in 1993 marked a reorientation from rural reforms to restructuring urban SOEs. Despite its apparent novelty, in many respects the Company Law simply codified institutional arrangements pioneered by TVEs. Even after SOEs were “corporatized” in order to attract outside capital, the state remained a controlling shareholder—a configuration this Article describes as “People, Inc.” However, despite the benefit of a formally promulgated corporate statute, as a group corporatized SOEs have not been able to replicate TVEs’ extraordinary success. Beyond the Company Law’s formal structures, there has been no informal “local law” of SOEs to regulate them, equivalent to the relatively egalitarian village institutions that governed the operation of TVEs. Significantly, however, the corporatization of SOEs has not only restructured the state’s relationship to capital. The final part of the Article considers how it has also fundamentally altered the relationship between capital and labor. The enactment of the Company Law was accompanied by the promulgation of a new Labor Law in 1994, mandating that all employees be provided with employment contracts. Since then, the revolutionary political subject of Maoism—“the people”—has been atomized into independent economic subjects responsible for their own welfare outside of work. This, in turn, has resulted in tectonic shifts in the boundaries among the state, the market, and the family. Moreover, with the contractualization of all labor, even urban workers no longer enjoy a guaranteed share of the benefits of economic development. Today, an earlier state-enforced inequality between city and country is increasingly overwhelmed by a society-wide gulf between the rich and the poor, without a necessary geographical correlate.
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Duan, Xin, Shengli Dai, Rui Yang, Ziwei Duan, and Yanhong Tang. "Environmental Collaborative Governance Degree of Government, Corporation, and Public." Sustainability 12, no. 3 (February 5, 2020): 1138. http://dx.doi.org/10.3390/su12031138.
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The Chinese government has attached great importance to environmental collaborative governance recently to cope with rising pollution problems. How to measure environmental collaborative governance degree is a key issue to evaluate the level and progress of the implementation of this great ambition. This paper designs an index system for measuring environmental collaborative governance degree, covering dimensions of government, corporation and the public. The entropy method is applied to measure the change of environmental governance capacity. The coupling coordination model is adapted to evaluate the environmental collaborative governance degree of government–corporation–public. Empirical analysis is conducted by using the panel data of 30 provinces of China for the years 2006–2015. The results are provided and discussed from various dimensions. Suggestions are put forward accordingly. This paper focuses on developing a method for measuring environmental collaborative governance degree and is meaningful for enlightening future research about the effect of collaboration on environmental governance.
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Zhang, Wenying. "Liability of the Parent Company of MNEs for the Debts of Its Subsidiaries." Journal of Education, Humanities and Social Sciences 1 (July 6, 2022): 13–19. http://dx.doi.org/10.54097/ehss.v1i.623.
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In the context of today's global economic development environment, the most basic and widely adopted internal organizational structure of multinational companies, as the most important economic entities in the process of continuous expansion, is in the form of parent and subsidiary companies. Under this structure, the parent and subsidiary of a multinational corporation are legally separate legal persons, while in practice the subsidiary is often under the integrated control of the foreign parent company based on the global strategy. The contradiction between this form of law and physical control makes it highly likely that MNEs will pursue their global strategies while circumventing their legal responsibilities and infringing on the interests of subsidiaries, their creditors, and even the host country. Therefore, how to deny the independent legal personality of the subsidiary in a timely manner, so that the parent company of the multinational company can bear the debt liability of the subsidiary in a specific situation, deserves in-depth study. China has not made a limited principle exception to the issue of the liability of the parent and subsidiary of multinational companies under specific circumstances so in practice, some multinational companies maliciously take advantage of the gap in China's legal system to avoid liability. Therefore, through the in-depth discussion of the principle of responsibility and the comparative study of the time of various countries, China should formulate relevant legal systems in line with China's national conditions and the current world economic situation as soon as possible, so as to effectively regulate the behavior between the parent and subsidiary companies of multinational corporations and better protect the legitimate interests of multinational subsidiaries and their creditors in China.
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Dai, Wenjin, Jonathan Gosling, and Annie Pye. "The Inclusiveness and Emptiness of Gong Qi: A Non-Anglophone Perspective on Ethics from a Sino-Japanese Corporation." Journal of Business Ethics 165, no. 2 (October 22, 2019): 277–93. http://dx.doi.org/10.1007/s10551-019-04308-3.
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Abstract This article introduces a non-Anglophone concept of gong qi (communal vessel, 公器) as a metaphor for ‘corporation’. It contributes an endogenous perspective from a Sino-Japanese organizational context that enriches mainstream business ethics literature, otherwise heavily reliant on Western traditions. We translate the multi-layered meanings of gong qi based on analysis of its ideograms, its references into classical philosophies, and contemporary application in this Japanese multinational corporation in China. Gong qi contributes a perspective that sees a corporation as an inclusive and virtuous social entity, and also addresses the elusive, implicit, and forever evolving nature of organizational life that is rarely noticed. We propose gong qi can be applied in other organizations and wider cultural contexts to show a new way of seeing and understanding business ethics and organization. Rather than considering virtue as a list of definable individual qualities, we suggest that the metaphor of gong qi reveals how virtue can be experienced as indeterminate, yet immanently present, like the substance of emptiness. This, then allows us to see the virtue of immanence, the beauty of implicitness, and hence, the efficacy of gong qi.
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Zelin, Madeleine. "A Deep History of Chinese Shareholding." Law and History Review 37, no. 2 (December 18, 2018): 325–51. http://dx.doi.org/10.1017/s073824801800038x.
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By the turn of the twentieth century the absence of codified law governing private economic transactions was a key target of foreign and Chinese critiques of the imperial legal system. Expectations ran high that China's first legal transplant, the 1904 Company Law, would lead to unprecedented public investment in large-scale industrial projects. Their disappointment, and the continued dominance of small business in the Chinese marketplace, has been attributed to factors ranging from Chinese cultural aversion to impersonal investment to shortcomings in the law itself. This study shifts our attention to the indigenous practices that company law was meant to supplant, examining the diverse sources of Chinese shareholding practices and the rich menu of options they provided investors. Most importantly, it argues that by the late imperial period shares were well-established as abstract income producing assets that could be bought and sold, creating the possibility of partnership relationships that could be both impersonal and long-lived despite the absence in China of a formal company law. That this tradition did not lead to the emergence of an analogue to the corporation in the West raises new questions about the demand for such entities and the role of transplantation in suppressing indigenous solutions to business problems.
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Carty, Anthony. "What Use Is Customary International Law?" Korean Journal of International and Comparative Law 9, no. 1 (May 28, 2021): 119–31. http://dx.doi.org/10.1163/22134484-12340149.
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Abstract Customary international law as a source of general law is given a primary place in Article 38 of the ICJ Statute. However, it is historically a concept created by legal doctrine. The very idea of custom supposes legal persons are natural persons living in a dynamic, evolving community. This was the assumption of the historical school of law in the 19th century when the concept of custom was developed. Now the dominant notion of legal personality is the State as an impersonal corporation and international legal theory (Brierly and D’Amato) can see well that the death of the historical school of law has to mean the death of the concept of custom. What should replace it? Two steps need to be taken in sequence. Firstly, following the Swedish realist philosopher Haegerstrom, we have to ascertain the precise constellations of the conflictual attitudes the populations of States have to the patterns of normativity which they project onto international society. Secondly, we should follow the virtue ethics jurisprudence of Paul Ricoeur and others, who develop a theory of critical legal doctrinal judgement, along the classical lines of Aristotle and Confucius, to challenge and sort out the prejudices of peoples into some reasonable shape, whereby these can be encouraged to understand and respect one another. Then one will not have to endure so many silly interpretations of international law such as the one declaring that there are only rocks in the South China Sea and not islands. Such interpretations have nothing to do with the supposedly ordinary legal language analysis of a convention and the State practice surrounding it. They have to do entirely with a continued lack of respect by Western jurists for non-Western societies and nations.
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LU, S. "The EOS Engineering Corporation Case and the Nemo Debet Bis Vexari Pro Una et Eadem Causa Principle in China." Chinese Journal of International Law 7, no. 1 (January 23, 2008): 143–58. http://dx.doi.org/10.1093/chinesejil/jmn007.
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Mohammed, Naumi K., and Guo Dexiang. "Financial Restructuring and Asset Management Companies in International Financial Markets. Case Study of China: Lessons for Tanzania." Journal of Politics and Law 14, no. 3 (March 30, 2021): 74. http://dx.doi.org/10.5539/jpl.v14n3p74.
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Each company owns its “life cycle”. Throughout this cycle, companies use many factors that impact their business to track outcomes and shortcomings. Circumstances such as “financial restructuring” inaction and insolvency are the basic stages of a company’s lifecycle. The financial restructuring can be articulated as a deteriorating situation to circumstances in which the corporation is incapacitated in meeting its financial obligations, where the first signs of financial shortage are generally taken as a violation of trust/contract with suppliers and the payment of the dividends. This paper reviews the mechanism of restructuring of the bank by focusing on areas such as assets Management Companies (AMCs), their institutional characteristics and roles in the Chinese banking system, legal issues regarding banks’ operations in China and finally addresses the law and policy issues related to the disposal of NPLs in the banking system China. The finding is that, since this ‘phenomenon’ is not yet applicable to Tanzania, and also it is amidst the basic factors for Foreign Direct Investments in a country, Tanzania can look to China’s experience as a lesson, especially in the solicitation of this method without opposing political theory. That is because this feature of China’s unique legal system basing more on practicality rather than judicial power.
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Yang, Yi, Shuhe Shi, and Jingjing Wu. "Digital Financial Inclusion to Corporation Value: The Mediating Effect of Ambidextrous Innovation." Sustainability 14, no. 24 (December 12, 2022): 16621. http://dx.doi.org/10.3390/su142416621.
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Corporate innovation can be subdivided, according to its approach and novelty, into exploitative innovation and exploratory innovation, i.e., ambidextrous innovation. Defined as actions to promote financial inclusion through digital financial services, digital financial inclusion brings new opportunities for the implementation of corporate innovation projects and the improvement of corporation value. Based on the annual reports (2012–2020) released by 1604 listed SMEs in China and the index of digital financial inclusion from Peking University, this paper explores the way that digital financial inclusion affects the corporation value of SMEs, with some moderating factors such as the financial flexibility, corporate social responsibility and product market competition in ambidextrous innovation. The study shows, in SMEs: (1) digital financial inclusion has a significant positive impact on exploitative innovation, but has less effect on exploratory innovation with a time lag; (2) ambidextrous innovation plays a partial intermediary role in the effect of digital financial inclusion on corporation value; (3) financial flexibility of the enterprise positively moderates the relationship between digital financial inclusion and corporate value. In the short term, corporate social responsibility negatively moderates the relationship between digital financial inclusion and corporate value; however, in the long term, it does contribute to the growth of corporate value. (4) Product market competition positively moderates the relationship between digital financial inclusion and exploitative innovation, but does not positively moderate the relationship between digital financial inclusion and exploratory innovation.
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LI, Hong. "Depoliticization and Regulation of Sovereign Wealth Funds: A Chinese Perspective." Asian Journal of International Law 1, no. 2 (October 25, 2010): 403–22. http://dx.doi.org/10.1017/s204425131000010x.
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AbstractThe China Investment Corporation (CIC) has often been perceived as a threat by Western economies. Such fears, however, are unfounded as the severe losses incurred by CIC during the recent economic crisis reveals that the fund, just like other investment entities, is vulnerable to market conditions. Moreover, given their relative lack of expertise in international investment, the regulation and development of “young and inexperienced” sovereign wealth funds (SWFs) within their home state is more pertinent than the defensive regulation structured by the host states in which SWFs invest. Positive financial returns should always be the fundamental goal of SWFs, rather than non-commercial considerations. This article proposes a three-step approach to regulating SWFs from a Chinese perspective: (1) home states should distinguish between their roles as shareholders and managers of state-owned capital-exporting institutions, and can use the Santiago Principles for that purpose; (2) host countries should not discriminate against SWFs but treat them as private institutional investors; and (3) there should be a clarification of the international investment regime regarding state investment. If these three steps are taken, SWFs would be depoliticized, and biased regulatory agencies and regulations would be a thing of the past. Under a broad regime, concerns between home and host states could then be addressed at bilateral or multilateral forums.
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Park, Gain, and Hyun Soon Park. "Communicating Sustainability to Ethnocentric Consumers in China: Focusing on Social Distance from Foreign Corporations." Sustainability 13, no. 1 (December 23, 2020): 47. http://dx.doi.org/10.3390/su13010047.
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This study examines the relationship between social distance perception and company/sustainability campaign evaluations. The study also investigates the moderating role of consumer ethnocentrism in the relationship between the variables. This study further compares the effects of construal message framing (high-level vs. low-level construal) on social distance perception. The SPSS PROCESS macro analysis revealed that social distance perception from a corporation negatively affects company evaluations. Moreover, the results demonstrated that consumer ethnocentrism significantly moderates the relationship between social distance perception and company/sustainability campaign evaluations. Finally, the results indicate that construal message framing significantly affects the level of social distance perception from the host of a sustainability campaign. This paper provides practical suggestions for corporates’ sustainability communications and adds to the literature on the reverse effect of construal level theory and social distance reduction.
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Chang, Ca Min, Yon Sen Lin, Chien Nan Pan, and Wen Tung Cheng. "Numerical Analysis on the Refractory Wear of the Blast Furnace Main Trough." Advances in Science and Technology 92 (October 2014): 294–300. http://dx.doi.org/10.4028/www.scientific.net/ast.92.294.
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This study aims to numerically analyze the refractory wear of the blast furnace main trough. The three dimensional transient Navier-Stocks equation associated with the volume of fluid (VOF) was developed to describe the flow fields of air, molten iron and slag in the main trough of the blast furnace during tapping process; and then solved by the finite volume method (FVM) subject to the pressure implicit with split operator (PSIO). Based on the Newton’s law of viscosity, the computed shear stress profile in the impingement region consists with the erosion rate of main trough from the no. 4 blast furnace at China Steel Corporation (CSC BF4). The influence of the tapping angle and the ratio of iron to slag in tapping stream on the wall shear stress of main trough was also examined for the suggestion to minimize the refractory wear of blast furnace main trough in this work.
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Marjerison, Rob Kim, Chungil Chae, and Shitong Li. "Investor Activity in Chinese Financial Institutions: A Precursor to Economic Sustainability." Sustainability 13, no. 21 (November 6, 2021): 12267. http://dx.doi.org/10.3390/su132112267.
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One requirement for sustainable economic development is established, trusted, and utilized financial institutions to facilitate investment. The rapid development of financial markets in China, combined with the recency and magnitude of middle-class wealth, has resulted in a rapidly changing investment landscape, as well as changes in people’s investing activities. The extent to which economic growth is sustainable will depend, at least in part, on how financial institutions are perceived, as well as the extent to which they are utilized. The objective of this study was to examine the investment behaviors of individual investors as a way to ascertain the perceived level of trust and stability in the relatively recently developed financial institutions. The influence of market information acquisition on asset allocation and value investment in China was analyzed. This study used secondary data from a China securities corporation from previous research. The analyses utilized the general decision-making style test to assess respondents’ decision-making models and quantitative research methodology culminating in the use of correlation analysis. The results indicated that the acquisition of market information had a positive correlation with the number of assets and investment portfolios. Practical implications and suggestions for future research are provided. The results may be of interest to individual and institutional investors in China, as well as those with an interest in current trends in market information acquisition, asset allocation, and value investment in China.
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Zhang, Hao. "China’s natural gas sector regulation in the context of pipeline restructuring: towards independent gas pipeline operation?" Journal of World Energy Law & Business 14, no. 6 (December 1, 2021): 447–63. http://dx.doi.org/10.1093/jwelb/jwab038.
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ABSTRACT The establishment of China National Oil and Gas Pipeline Network Corporation (PipeChina) is one of the most ambitious reforms of China’s oil and gas industry to date. As a cleaner type of fossil fuel, natural gas is considered the preferred transition energy resource during China’s transformation from fossil fuel-intensive to renewable energy. The strategic choice is to increase the proportion of natural gas in China’s primary energy portfolio. The creation of PipeChina, through acquiring the pipeline assets from the national oil companies, is an essential part of the reform agenda to increase natural gas supply and consumption through a monopoly and independent midstream sector. Accompanying this change is the promulgation of two sets of regulations governing a new transmission tariff regime and third-party access, respectively. Given the nascency of China’s gas pipeline restructuring, this article critically examines the regulations that underpin the independent operation of PipeChina. It discovers that enforcement of third-party access contradicts the existing regulations on gas concession rights. PipeChina’s independent operation is also likely to be challenged by the regulatory uncertainties identified by this study. Therefore, the success of PipeChina to achieve the reform objectives largely depends on how these challenges can be addressed appropriately in the process of ongoing reform.
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Miglietta, Nicola, and Enrico Battisti. "Financial System and Corporate Governance Around the World. Lessons for Emerging Markets." Journal of Corporate Finance Research / Корпоративные Финансы | ISSN: 2073-0438 7, no. 1 (April 26, 2013): 59–70. http://dx.doi.org/10.17323/j.jcfr.2073-0438.7.1.2013.59-70.
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Authors: Nicola Miglietta
Enrico Battisti
This work explores the main features of the models of Corporate Governance around the world. The goal is to verify the existence of an optimal model of Corporate Governance that could be a datum point for Emerging Markets. Corporate Governance is deeply tied to different Financial Systems. Usually a Corporation is a kind of partnership amongst managers – employees who operate the firm and commit human resource instead of financial capital – and outside investors. Its financial objective is to maximize shareholders’ value. According to United States and United Kingdom Corporation Law, managers are legally required to act in the interests of the shareholders. In this sense, the Board of Directors is supposed to represent shareholders’ interest, however laws and traditions differ from country to country and it is common to distinguish in between market-based and bank-based systems.We could divide the article in two parts. The first part explores the relations between Corporate Finance and Corporate Governance. The second one examines the Developed Markets’ Corporate Governance Models (Anglo-Saxon Countries, Germany, Japan, Italy) and the Emerging one (most notably Brazil, Russian Federation, India and China) in order to identify if the differences between countries can be regarded as more or less relevant. In conclusion, the work highlights the key elements of a Corporate Governance pointing out social and company’ benefits and it identifies in a system of Network Governance, founded on a more active involvement of all stakeholders, a reference point for the Emerging Markets.
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Shen, Yi, and Qingsong Ruan. "Accounting Conservatism, R&D Manipulation, and Corporate Innovation: Evidence from China." Sustainability 14, no. 15 (July 23, 2022): 9048. http://dx.doi.org/10.3390/su14159048.
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Research and development (R&D) is the main driver for the sustainable development of corporate innovation. Given the prevalence of information asymmetry in R&D, executives opportunistically manipulate R&D investment. While accounting conservatism as a corporate governance mechanism can effectively reduce information asymmetry, few studies have focused on the relationship between the two. Based on Chinese listed companies in 2008–2019, this paper investigates the impact of accounting conservatism on R&D manipulation, as well as the moderating effect of internal control quality and tax enforcement efforts on this relationship. The results indicate that not only are the results more significantly negative in subgroups of low-level internal control and tax collection, but the coefficients of their cross-sectional variables are also positive. Therefore, accounting conservatism can effectively deter R&D manipulation, and this effect is weakened by internal control and tax enforcement. Additionally, the impact of accounting conservatism on manipulation differs in direction and lifecycle. The negative conservatism–manipulation relationship is more significant for upward manipulation and growing enterprises. Further research also suggests that conservatism’s inhibitory effect on R&D manipulation is mediated by financial constraints, which enhances corporate innovation efficiency. The conclusions not only provide empirical evidence for the corporation to improve R&D efficiency but also provide the basis for the authorities to promote innovation supervision.
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Zhao, Haohan, Heping Xiong, and Jikang Chen. "Regional Comparison and Strategy Recommendations of Industrial Hemp in China Based on a SWOT Analysis." Sustainability 13, no. 11 (June 4, 2021): 6419. http://dx.doi.org/10.3390/su13116419.
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The hemp (Cannabis sativa L.) industry has great potential growth due to its multifaceted characteristics, however, challenged by the imbalance between the rapid agricultural production growth and the inadequate market. Against the manifesting functional overlapping and homogeneous competition among regions and nations, multi-regional synergistic development strategies of the hemp industry are critical for a sustainable agricultural-industrial system. To propose development strategies and R&D priorities of the hemp agricultural system for multi-regional synergistic development of the hemp industry. A nationwide survey and a SWOT analysis were carried out within five major production provinces in China, which is one of the largest producers of hemp, including Yunnan, Heilongjiang, Shanxi, Inner Mongolia and Jilin. Legislation, distribution, yield and utilization status and their effect on the development of industrial hemp in China were discussed. The SWOT analysis suggested that the negative effects of weaknesses and threats are stronger than the positive effects of strengths and opportunities. The modern hemp industry is still in an early phase of development characterized by the emerging legislation, growing acreage, initial researches and a few applications that pertain to mainstream use in China. Therefore, strategy recommendations, including top-level design, participating in global competition, promoting innovation and enhancing public cooperation, were proposed. We provide strategies for enhancing the hemp agricultural-industrial system, thus enabling policy makers and researchers to master the priority of promoting economic corporation and agricultural science and technology innovation.
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Ji, Duan, Yuyu Liu, Lin Zhang, Jingjing An, and Wenyan Sun. "Green Social Responsibility and Company Financing Cost-Based on Empirical Studies of Listed Companies in China." Sustainability 12, no. 15 (August 3, 2020): 6238. http://dx.doi.org/10.3390/su12156238.
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Taking Chinese A-share listed companies in Shanghai and Shenzhen Stock Exchanges from 2007 to 2018 as research samples, this paper studies the relationship between green corporation social responsibility (CSR) and financing cost of Chinese companies by means of moderating effect and multiple regression analysis. It is found that, for companies, the better the performance of green social responsibility, the lower the financing cost. However, it is also found that for companies with different pollution degrees and natures of property rights, the financing cost reduction effects due to green social responsibility are quite different. Compared with low-polluting companies, the financing cost reduction effect arisen by green CSR will be weakened for high-polluting companies. Compared with private companies, the financing cost reduction effect from green CSR will also be weakened for state-owned companies. To sum up, the research results of this paper show that there is a significant saving effect on financing cost for companies undertaking green CSR, and companies’ characteristics of pollution degree and property right can regulate the impact of green CSR on financing cost. The conclusion of this paper can encourage companies to take green social responsibility actively and reduce the cost of financing.
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Xue, Jia, Youshi He, Ming Liu, Yin Tang, and Hanyang Xu. "Incentives for Corporate Environmental Information Disclosure in China: Public Media Pressure, Local Government Supervision and Interactive Effects." Sustainability 13, no. 18 (September 7, 2021): 10016. http://dx.doi.org/10.3390/su131810016.
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Disclosing environmental information is essential for listed firms to demonstrate social conscience. To fulfill government and public media supervision, Chinese listed firms are increasing the quality and quantity of disclosed environmental information. This elicits a new topic of interest: the correlation between media/government supervision and corporate environmental information disclosure (EID). The paper addresses this issue through data analysis and factor correlation study in data from some high-pollution firms in China during 2017–2019. The study first introduces a standardized definition for the quantification of media and government supervision, as well as the degree to which the corporation discloses the environmental information. Then, the correlations between the factors are isolated and refined to three sub-topics: (1) how public media and local government supervision affect the quality of corporate EID; (2) how is the interactive effect of public media and government supervision related to corporate EID; (3) how is the distinct ownership of corporate affect the government supervision on corporate EID. The concluding result from the above factor analysis could provide guidance for authorities to adjust certain laws and regulations so that the media and government supervision better motivates the corporate EID, and furthermore, better sustainable development of ecological environment.
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Tajti, Tibor. "Berle and Means’ Control and Contemporary Problems." Bratislava Law Review 6, no. 2 (December 30, 2022): 59–76. http://dx.doi.org/10.46282/blr.2022.6.2.309.
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The best way to judge the quality of a new company law is to test it against real-life problems. This article attempts to do that by placing the concept of control in the center of its observations, posing related questions, and offering food for thought for the drafters of company laws. The concept of control in the context of corporations with highly dispersed shareholders holding atomized stakes (‘quasi-public corporations’) was first dissected by Adolf A. Berle (lawyer) and Gardiner C. Means (economist) in their 1932 classic The Modern Corporation and Private Property. Their conceptualization and classification of control serves as the basis for the analysis herein, even though interest in control has lately been overshadowed by novel schools of thought based on agency theory and the like. With that in mind, the central thesis of this article is that control is the ultimate ‘invisible hand’ of company law because it is unparalleled in importance, omnipresent, and – due to its multifaceted nature – inherently difficult to grasp, especially insofar as its precise essence or its manifestation in real life circumstances is concerned. Secondly, using examples from recent cases from Central and Eastern Europe (‘CEE’), this article aims to show that the crucially important concept of control is still not fully understood. Unfortunately, but perhaps unsurprisingly, empirical evidence readily proves that simple formulas for “taming” control do not exist. Instead, eternal vigilance, as well as regular re-evaluation of governance and oversight solutions, is needed not just by the boards and corporate officers in charge of oversight, but also by shareholders if control of corporate officers is at stake. Thirdly, the article demonstrates that control plays a similarly important role for small and mid-sized businesses (‘SMEs’) countering a burning set of problems that SMEs are doomed to face at some point in their existence: the issues corollary to the inter-generational transfer of the control and ownership of successfully operating companies. This topic is tackled through the prism of the milestone case of Galler v. Galler from Illinois, United States (US), which gave the green light to a peculiar but flexible set of solutions to these governance-related issues. I argue that the Galler formula, or at least parts of it, could be adapted elsewhere to serve similar ends. As the case studies offered in this article will demonstrate, these are living problems, especially insofar as they concern jurisdictions which are still yet to settle on wholly-adequate solutions, such as the post-socialist states of Central and Eastern Europe, China, and other fledgling legal systems across the globe.
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Yin, Ximing, Jin Chen, and Chuang Zhao. "Double Screen Innovation: Building Sustainable Core Competence through Knowledge Management." Sustainability 11, no. 16 (August 7, 2019): 4266. http://dx.doi.org/10.3390/su11164266.
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How to exploit the precipitated internal and external knowledge to build dynamic capability in the era of big data remains a big challenge for innovation and business sustainability. This paper documents a novel perspective to address this challenge by exploring the double screen innovation knowledge management practice in Commercial Aircraft Corporation of China Ltd. (COMAC). Drawing from the literature on knowledge management and knowledge-based view, this paper elaborates how the new type of knowledge management practice represented by the case of Double Screen Innovation (DSI) in COMAC could help enterprise build sustainable core competence, which provides new perspective for multi-level knowledge management towards business sustainability. DSI, as a novel way of knowledge management, optimizes the micro-level knowledge co-creation and sharing and macro-level organizational learning mechanisms to accelerate the knowledge accumulation and dissemination within the organization. The process of knowledge creation, transformation, and application helps to integrate and transform big data into useful business information, thus provides an endless driving force conducive to the establishment and promotion of the core competencies of enterprises.
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Li, Xiaoli, and Hongqi Wang. "An Exploratory Study of How Latecomers Transform Strategic Path in Catch-Up Cycle." Sustainability 13, no. 9 (April 28, 2021): 4929. http://dx.doi.org/10.3390/su13094929.
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In catch-up cycles, the industrial leadership of an incumbent is replaced by a latecomer. Latecomers from emerging economies compress time and skip amplitude by breaking the original strategic path and form a new appropriate strategic path to catch up with the incumbents. Previous studies have found that the original strategic path is difficult to break and difficult to transform. This paper proposes a firm-level framework and identifies the impetus and trigger factors for latecomers to transform the strategic path. The impetus is the mismatch between strategic mode and technological innovation capability. The trigger is the progressive industrial policy. Based on a Chinese rail transit equipment supplier’s (China Railway Rolling Stock Corporation; CRRC) catch-up process, this paper finds that the strategic path transformation is an evolutionary process from mismatch to rematch between strategic mode and technological innovation capability. With the implementation of industrial policy, the technological innovation capability will change. The original strategic mode does not match with changed technological innovation capability, which leads to performance pressure. With the adjustment of industrial policy, a new strategic mode adapted to new technological innovation capability emerges. This paper clarifies the source that determines successful catch-up practices for latecomers and contributes to latecomers’ sustainable growth in emerging economies.
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Chen, Rongxin, Xiaobin He, and Farnaz Shirani Bidabadi. "Corporate Environmental Compliance in China: From Social Responsibility to Soft Law." Sustainability 15, no. 3 (January 28, 2023): 2379. http://dx.doi.org/10.3390/su15032379.
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The environmental compliance of Chinese corporations is promoted in two main dimensions. On the one hand, based on external pressure from the legal system surrounding national environmental protection, corporations need to adjust their production and operations to comply with environmental law requirements. On the other hand, environmental compliance is based on the consensus of the whole society in regards to environmental protection. The members of corporations, due to their awakening to the idea of environmental protection, independently achieve the goal of environmental protection through ecological operation. The latter is mainly developed from the perspective of corporate social responsibility. However, environmental protection compliance based on corporate social responsibility faces problems, such as conflicts between multiple values, the misalignment of compliance subjects, and the lack of binding force. In fact, the perception, participation, and implementation of environmental protections by employees, communities, and other stakeholders has a significant impact on corporate environmental compliance. Soft law can bring together corporate employees and other stakeholders for the ethical consensus on environmental protection and achieve the purpose of environmental compliance.
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Xu, Ya-wen, and Qian Cheng. "Viewing the Labor Law Reform in China From a Perspective of Legal Globalization." NAVEIÑ REET: Nordic Journal of Law and Social Research, no. 7 (November 2, 2018): 35–52. http://dx.doi.org/10.7146/nnjlsr.v0i7.111014.
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After the cold war, the trends of legal globalization became more and more obvious. People’s Republic of China (PRC) began its connection with the international community and the global market, and its legal reform after the launch of the “reform and opening-up” policy. By examining China’s labor law reform, we can see how legal globalization has influenced China’s legal system. China introduced and transplanted many institutions, terms of ILO conventions during its labor law reform. It also accepted many principles and conceptions of ILO conventions in its labor law and constitutional law, which would shape China’s labor law reform. Multinational corporations (MNC) and transnational civil society organizations (TCSO) influenced Chinese labor law reform through lobbying, advocacy, public education, and litigations. Informal norms such as Corporate Social Responsibility standards developed by MNCs and TSCOs also inspired Chinese legislators to improve China’s labor law and Chinese SCOs or business associations to develop labor standards to fill the gaps in China’s labor law and regulations. In conclusion, in the age of legal globalization, the labor law reform in China is a kind of legal transplantation. International norms, actions by multinational corporations and transnational civil society, and their informal norms together constitute the force which promotes the transplantation and the reform of China’s legal system.
Key Words: legal globalization, global governance, labor law, law reform
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Khattak, Adnan, Rasool Bukhsh, Sheraz Aslam, Ayman Yafoz, Omar Alghushairy, and Raed Alsini. "A Hybrid Deep Learning-Based Model for Detection of Electricity Losses Using Big Data in Power Systems." Sustainability 14, no. 20 (October 21, 2022): 13627. http://dx.doi.org/10.3390/su142013627.
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Electricity theft harms smart grids and results in huge revenue losses for electric companies. Deep learning (DL), machine learning (ML), and statistical methods have been used in recent research studies to detect anomalies and illegal patterns in electricity consumption (EC) data collected by smart meters. In this paper, we propose a hybrid DL model for detecting theft activity in EC data. The model combines both a gated recurrent unit (GRU) and a convolutional neural network (CNN). The model distinguishes between legitimate and malicious EC patterns. GRU layers are used to extract temporal patterns, while the CNN is used to retrieve optimal abstract or latent patterns from EC data. Moreover, imbalance of data classes negatively affects the consistency of ML and DL. In this paper, an adaptive synthetic (ADASYN) method and TomekLinks are used to deal with the imbalance of data classes. In addition, the performance of the hybrid model is evaluated using a real-time EC dataset from the State Grid Corporation of China (SGCC). The proposed algorithm is computationally expensive, but on the other hand, it provides higher accuracy than the other algorithms used for comparison. With more and more computational resources available nowadays, researchers are focusing on algorithms that provide better efficiency in the face of widespread data. Various performance metrics such as F1-score, precision, recall, accuracy, and false positive rate are used to investigate the effectiveness of the hybrid DL model. The proposed model outperforms its counterparts with 0.985 Precision–Recall Area Under Curve (PR-AUC) and 0.987 Receiver Operating Characteristic Area Under Curve (ROC-AUC) for the data of EC.
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Wang, Chaoyi. "A Review of the Research on Transnational Environmental Tort Law." Advances in Politics and Economics 5, no. 4 (November 17, 2022): p72. http://dx.doi.org/10.22158/ape.v5n4p72.
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The accelerated pace of globalization has brought about rapid economic development, while the number of transnational environmental pollution problems is also increasing. On the one hand, the imbalance of the global economy has intensified, and transnational corporations have taken advantage of the low cost and low standards of environmental protection in developing countries to transfer polluting industries; On the other hand, with the awakening of citizen’s environmental awareness in developing countries, more and more people realize that their own legal provisions are not enough to compensate for their losses, so they choose to go overseas to appeal to the home country courts. Based on the review of relevant literature in China and foreign theoretical circles in recent years, this paper summarizes it from three aspects: jurisdiction, application of law and transnational corporations, with a view to promoting the improvement of China’s transnational environmental tort law.
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Chang, Chyi-herng, and Trevor Bain. "Employment Relations Across the Taiwan Strait: Globalization and State Corporatism." Journal of Industrial Relations 48, no. 1 (February 2006): 99–115. http://dx.doi.org/10.1177/0022185606059316.
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After the 1980s, the governments of China and Taiwan, across the Taiwan Strait, promoted reform, a more transparent policy, and democratization, in order to compete in a globalizing world. In the 1980s, China had begun to emphasize economic reform and Taiwan had begun to emphasize political reform. Both ignored reform on the social dimension. Employment relations were subordinated to the priorities of economic and political reform. In the 1990s, Taiwan’s democratic transformation created a pluralistic society and gave the trade unions room to take root. However, free collective bargaining has not been realized due to the marginalizing of both employer organizations and trade unions. In China, the state decentralized the business sector, allowing unilateral employer activities in employment relations. Statutory rules were enacted after the 1994 labor law. This article compares the changes that have taken place in the industrial relations systems in Taiwan and China, and assesses the roles of the two governments in the employment relations area as each responded to globalization.
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Miles, Lilian, and Zhong Zhang. "Improving Corporate Governance in State-Owned Corporations in China: Which Way Forward?" Journal of Corporate Law Studies 6, no. 1 (April 2006): 213–48. http://dx.doi.org/10.1080/14735970.2006.11419951.
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Erie, Matthew S. "Anticorruption as Transnational Law: The Foreign Corrupt Practices Act, PRC Law, and Party Rules in China." American Journal of Comparative Law 67, no. 2 (June 2019): 233–79. http://dx.doi.org/10.1093/ajcl/avz018.
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Abstract Corruption has been linked to urgent transnational problems, including, inter alia, market uncertainties, the undermining of democracy, economic disparity, religious extremism, and authoritarianism. As corruption is a global problem, it requires coordination across states’ anticorruption laws. Anticorruption thus provides grounds to reassess the promise and limits of transnational law. This Article examines the operation of anticorruption as transnational law across the corporate governance regimes of the United States and China, the world’s two largest economies. As opposed to perceptions that Washington and Beijing are engaged in a zero-sum game, anticorruption is a policy concern against which both states may rally. Inter-regulatory coordination is far from a frictionless process, however. Cross-border lawyers working on both sides of the Pacific engaged in anticorruption law are a type of transnational community and highlight these tensions. Lawyers apply standards in the 1977 U.S. Foreign Corrupt Practices Act, the People’s Republic of China antibribery laws, and internal Chinese Communist Party rules to ensure their clients comply with multiple regimes. Ethnographic data shows that lawyers assess different regulatory environments, in this case, one of extraterritorial jurisdiction and the other characterized by a political campaign, in the course of advising multinational companies. The Article argues that lawyers’ roles are a lynchpin of these overlapping systems of compliance as their work operates to discipline corporations in China; nonetheless, lawyers’ position in the global legal market impacts what they deem to be “corrupt” and which rules apply. A focus on cross-border lawyers as transnational communities thus marries legal analysis with a contextual grounding in lawyers’ work, an approach that has merit for the study of comparative law more generally. The Article finds that given market pressures, in the area of anticorruption, trends show a preference for “bicultural lawyers,” those who are both embedded within transnational communities and respond to demands in the global market.
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Fox, Eleanor M. "Should China’s Competition Model be Exported?: A Reply to Wendy Ng." European Journal of International Law 30, no. 4 (November 2019): 1431–40. http://dx.doi.org/10.1093/ejil/chaa010.
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Abstract The Chinese competition model is primarily distinguished by its Chinese characteristics: a baseline that closely resembles US/EU law and an overlay of ‘state over market’ to do what is strategically good for China. Replying to Wendy Ng’s suggestion that the Chinese competition model might be usefully exported to developing countries, this article disagrees. The Chinese law does have some outstanding characteristics, and developing countries might need a state/market balance different from the laissez-faire West. But a more appropriate alternative vision for developing democracies is the state as enabler of the market rather than the state as controller of the market, along with emphasis on the inclusiveness value in controlling the power of the giant corporations.
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Arana Guti´errez, Andrés David. "Las guerras globales por el oro azul en el siglo XXI." Criterio Libre Jurídico 14, no. 1 (January 1, 2017): 67–73. http://dx.doi.org/10.18041/1794-7200/criteriojuridico.2017.v14n1.1629.
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Bajo diversas miradas y reflexiones críticas sobre el poder corporativo financiero y la privatización del agua; este artículo de investigación analiza de manera sucinta los conflictos Geopolíticos del agua en el marco de la política exterior capitalista norteamericana y china; posteriormente de igual forma requiere e implica al parecer, examinar las incidencias Geofinancieras que son de suma importancia a la hora de graficar el capital corporativo transnacional en el contexto de la Globalización económica actual. Se encontró que ambos presupuestos nutren las denominadas “guerras globales por el oro azul” en el siglo XXI; donde finalmente se concluye que los organismos multilaterales y el capital Corporativo transnacional financiero asumen el agua como una mercancía estratégica o un bien económico y no como el derecho de supervivencia Biosférica
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Croucher, Richard, and Lilian Miles. "Chinese Migrant Worker Representation and Institutional Change: Social or Centralist Corporatism?" Asian Journal of Comparative Law 5 (2010): 1–26. http://dx.doi.org/10.1017/s2194607800000284.
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AbstractThis article argues that the Chinese state has more highly articulated policies to deal with social disturbance than previously recognized by specialists. It does so by highlighting and critically analyzing the policies followed to improve the opportunities for migrant worker representation. The state has adopted a three-pronged policy. It has improved migrant worker rights, encouraged the official unions to help enforce these rights and allowed NGOs to offer certain services. The official unions are encouraged to adopt a legal watchdog role by a combination of legislation and limited external organizational competition. We argue that the dynamic of organizational competition is a previously unrecognized factor in moving China in a ‘socialist corporatist’ direction.
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Ilić, Nikola. "The Klobuchar Bill: Is Something Rotten in the US Antitrust Legislative Reform?" Anali Pravnog fakulteta u Beogradu, Volume 70, Issue 1 (March 30, 2022): 101–20. http://dx.doi.org/10.51204/anali_pfbu_22104a.
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An intense public debate is currently taking place in the US. The main subject of this debate is tech giants and the antitrust law reform. The fundamental dilemma is whether giant corporations, such as Apple, Google, Amazon, Microsoft, and Facebook, fit the traditional antitrust law or not. Senator Klobuchar proposed the new bill (the Competition and Antitrust Law Enforcement Reform Act) in 2021, and Congress is currently between a rock and a hard place. If Congress decides to support the New Brandeis movement and enact the bill, it could harm the tech giants and make the US start lagging behind China. If it decides otherwise, it could cause considerable dissatisfaction among US voters. This paper analyses the bill in detail and explores the possible outcomes. The conclusions suggest that enactment of the bill could have overwhelmingly adverse economic consequences for the competitiveness of US markets, innovation, and consequently for consumer welfare.
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Luo, Yi, Lijun Lu, and Shu Lin. "Ownership by Mutual Funds and Corporate Reporting of Environmental Responsibility: Empirical Evidence from China 2007–2019." Sustainability 13, no. 20 (October 19, 2021): 11527. http://dx.doi.org/10.3390/su132011527.
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After 40 years of economic ascendancy, China’s environmental challenges and public awareness of them have swelled substantially. Both concern mutual funds that invest in publicly traded Chinese firms, many of which have shown questionable environmental responsibility. This study investigates whether mutual fund ownership of Chinese corporations influences firms’ disclosures of environmental responsibility by empirical methodologies. Annual data for 25,188 firm-year observations of corporations trading as A-shares in Shanghai and Shenzhen from 2007–2019 revealed that ownership by mutual funds, and especially by leading funds, correlates strongly and positively with environmental disclosures. These results imply that mutual funds were activist investors that influenced sampled firms to disclose their environmental responsibility during the period 2007–2019. We also examine environmental reporting and mutual fund stock ownership in relation to security analyst coverage, whether sampled firms are government-owned, and periods before and after the implementation of China’s New Environmental Protection Law. Results are heterogeneous with respect to all three considerations. Our findings are significant for regulators, investors, and corporate managers.
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Woohyoung, Kim, Hyun Kim, and Jinsoo Hwang. "Transnational Corporation’s Failure in China: Focus on Tesco." Sustainability 12, no. 17 (September 2, 2020): 7170. http://dx.doi.org/10.3390/su12177170.
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Many of the foreign companies operating in China have claimed that they have failed and are constantly deciding on a strategic withdrawal from the Chinese market. We intend to conduct an empirical analysis of Chinese consumers in order to determine the cause of Tesco’s management failure in China. The survey was conducted on those in their 20s or older who had experience shopping at both Tesco and RT-Mart. As a result, a total of 650 copies were distributed to obtain an effective sample of 607 copies, which was used for the analysis. This paper conducted a comparative analysis on Chinese consumers who visited both Tesco and its rival company RT-Mart in China. We found through comparative analysis that Tesco was destined to fail in many areas. It was estimated that RT-Mart was more satisfactory in all factors, including product, location, brand recognition, and employee service.
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Zhou, Xuan, Miao Zuo, Guang Tian Deng, and Chun Fang Zhou. "Review of Secrete Industry Discharge in China and the Corresponding Reasons." Advanced Materials Research 356-360 (October 2011): 2658–61. http://dx.doi.org/10.4028/www.scientific.net/amr.356-360.2658.
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Based on the review of some typical secrete industry discharges in China in recent years, the characteristics of secrete discharge are summarized as follows: most of the secret discharge industries are of heavy pollution with high toxicity, heavy COD concentration and expensive treatment cost, and these companies include private, state-owned or multinational corporations, and some even own a variety of honors. Main reasons for secret emissions include inadequate environmental policies and institutional issues, no-in-place law enforcement, low costs of illegal discharge and lack of economically viable technologies, etc. Therefore, some measures are proposed: reform of environmental policies and performance evaluation mechanism, improve the capacity of environmental supervision, increase the cost of illegal discharge, innovation development model, implementation of cleaner production, and strengthening international cooperation, etc. Introduction