Xu Yuehua, Hu Songhua and Fan Xu'ang
The purpose of this paper is to clarify the influence of country risk (CR) and cultural distance (CD) on transnational equity investments. It also tries to find out the…
Abstract
Purpose
The purpose of this paper is to clarify the influence of country risk (CR) and cultural distance (CD) on transnational equity investments. It also tries to find out the international equity investment patterns of enterprises from developing countries like China.
Design/methodology/approach
From the perspectives of internalization theory, transaction cost theory, etc. this paper tries to explain the relationships between country‐level factors and transnational investment. Based on the data collected from overseas listed companies, it also empirically analyses the impacts of CR and CD on Chinese enterprises' ownership pattern in transnational equity investment.
Findings
The empirical results of this paper indicate that both the risk of host country and CD between host country and home country have significant and negative impacts on the level of ownership equity, but insignificant impacts on ownership status.
Research limitations/implications
As there are still some doubts about the existence of country culture, especially when dealing with a huge country like China, the use of Hofstede's instrument may be one of the limitations of this paper. Also, by focusing on Chinese enterprises, the research results may lack generalisability. Therefore, researchers are encouraged to test the proposed propositions when they study enterprises from other developing countries.
Practical implications
The paper sheds light on international investment activities of Chinese enterprises, and also provides insights for the decision making on equity arrangement in transnational investment.
Originality/value
This paper is one of the first to analyse the international equity investment activities of Chinese enterprises and it provides new evidence on how the country‐level factors influence transnational equity investment decisions.
Details
Keywords
Huimin Song, Ting-ting Zeng and Brian H. Yim
The purpose of this study was to examine the relationship between leisure involvement (LI), conspicuous sport consumption and subjective well-being (SW) for two luxury leisure…
Abstract
Purpose
The purpose of this study was to examine the relationship between leisure involvement (LI), conspicuous sport consumption and subjective well-being (SW) for two luxury leisure activities: golf and skiing.
Design/methodology/approach
The authors collected data from Guangdong Province (golf, n = 342) and Jilin Province (skiing, n = 310) and examined the proposed model using structural equation modeling (SEM) and tested the mediating effect of conspicuous sport consumption using bootstrapping method.
Findings
The findings show that the proposed model explained the relationships among LI, conspicuous sport consumption and SW. Furthermore, the findings suggest that LI and conspicuous consumption (CC) can elevate sport participants' perception of SW, enriching leisure-class theory.
Originality/value
The authors’ findings contribute to the domain of CC in sport participant and leisure research and provide significant implications for the sport tourism marketers.
Details
Keywords
Aqin Hu and Naiming Xie
The purpose of this paper is to explore a new grey relational analysis model to measure the coupling relationship between the indicators for the water environment status…
Abstract
Purpose
The purpose of this paper is to explore a new grey relational analysis model to measure the coupling relationship between the indicators for the water environment status assessment. Meanwhile, the model deals with the problem that the changing of indicator order may result in the changing of the degree of grey relation.
Design/methodology/approach
The binary index submatrix of the sample matrix is given first. Then the product of the matrix and its own transpose is used to measure the characteristics of the index and the coupling relationship between the indicators. Thirdly, the grey relational coefficient is defined based on the matrix norm, and a grey coupling relational analysis model is proposed.
Findings
The paper provides a novel grey relational analysis model based on the norm of matrix. The properties, normalization, symmetry, relational order invariance to the multiplicative, are studied. The paper also shows that the model performs very well on the water environment status assessment in the eight cities along the Yangtze River.
Originality/value
The model in this paper has supplemented and improved the grey relational analysis theory for panel data.
Details
Keywords
Changmian Zhang and Piercarlo Rossi
A balance between environmental protection and sustainable development of the energy industry is fostered in the majority of nations. China’s economic growth has been rapid in the…
Abstract
Purpose
A balance between environmental protection and sustainable development of the energy industry is fostered in the majority of nations. China’s economic growth has been rapid in the past few decades, with the unfortunate side effect of environmental pollution and ecological deterioration in the country. In this chapter, we provide a study of Chinese legal rules about civil liability for environmental damages in the light of objectives of sustainable development of the energy industry.
Methodology/approach
The research approach is based on the Regulatory Impact Assessment.
Practical implications
International funds and private investors, especially those working in FDI, have to cope with the legal framework more or less favorable to investment and innovation deriving from experimentation and development of new energy products and processes. In each jurisdiction, the mechanism of civil liability is crucial in determining such a legal framework.
Social implications
The real functioning of civil liability as applied by the doctrinal and judicial interpretation has to be taken into account for minimizing the mass damages for the environment and individuals.
Originality/value
Different from other assumptions based on administrative rules or policy issues, the balance between environmental protection and sustainable development is considered in this chapter under a view that emphasizes the role of legal rules from a civil law perspective.
Details
Keywords
Song Hua, Huiyin Huang, Fangfang Yin and Chunling Wei
This paper aims to propose a constant-gain Kalman Filter algorithm based on the projection method and constant dimension projection, which ensures that the dimension of the…
Abstract
Purpose
This paper aims to propose a constant-gain Kalman Filter algorithm based on the projection method and constant dimension projection, which ensures that the dimension of the observation matrix obtained is maintained when there is a satellite with multiple sensors.
Design/methodology/approach
First, a time-invariant observation matrix is determined with the projection method, which does not require the Jacobi matrix to be calculated. Second, the constant-gain matrix replaces the EKF (extended Kalman filter) gain matrix, which requires online computation, considerably improving the stability and real-time properties of the algorithm.
Findings
The simulation results indicate that compared to the EKF algorithm, the constant-gain Kalman filter algorithm has a considerably lower computational burden and improved real-time properties and stability without a significant loss of accuracy. The algorithm based on the constant dimension projection has better real-time properties, simpler computations and greater fault tolerance than the conventional EKF algorithm when handling an attitude determination system with three or more star trackers.
Originality/value
In satellite attitude determination systems, the constant-gain Kalman Filter algorithm based on the projection method reduces the large computational burden and improve the real-time properties of the EKF algorithm.
Details
Keywords
J. Alexander Nuetah, Yitian Xiao and Pei Guo
The purpose of this paper is to provide readers with the main findings and conclusions of papers presented at the 2011 CAER‐IFPRI International Conference held under the theme “Is…
Abstract
Purpose
The purpose of this paper is to provide readers with the main findings and conclusions of papers presented at the 2011 CAER‐IFPRI International Conference held under the theme “Is China entering a high food price era?”
Design/methodology/approach
The authors conduct a desk review of papers presented at the conference and provide a brief summary of the analytical tools, and main findings and conclusions of each presentation.
Findings
These reviews show that, while there seems to be an increase in the prices of agricultural commodities on the Chinese market, in real terms, these rises fall far below the increases in the prices of industrial commodities. Thus, expert views remain divided on whether China is entering an era of high food price.
Originality/value
The discussions initiated by the conference theme aroused researchers' curiosities for further studies into understanding the current level of food prices in China.
Details
Keywords
Xin Wang, Shaoze Luo and Qiang Yuan
A new roller compacted concrete dam of Fengman hydropower station was determined to be built in the toe of the old dam which had been identified as a dangerous dam. The new dam…
Abstract
Purpose
A new roller compacted concrete dam of Fengman hydropower station was determined to be built in the toe of the old dam which had been identified as a dangerous dam. The new dam during construction would be impacted by the high‐speed flow discharged from the old dam. This is an important problem met for the first time in China, which would affect the whole project construction. The purpose of this paper is to describe a series of erosion experiments of the new dam material.
Design/methodology/approach
A kind of high‐speed flow erosion test apparatus was developed for erosion experiment of the new dam material. The maximum jet velocity was up to 40 m/s and the section area of the nozzle was 25 cm2. In the process of experiments, the equipment showed its good performance. Erosive wear tests of two types of materials used in the new dam, a roller compacted concrete and a distorted concrete with four kinds of ages were carried out with the flow velocity in the range of 30‐35 m/s.
Findings
Erosion parameters and erosion laws of the two types of concretes with different ages were obtained, and a general relationship had been found between erosion rate and flow velocity: with velocity exponent between 3.33 and 3.93. It was also concluded that the erosion resistance of the distorted concrete was better than that of the roller compacted concrete and the mechanics properties of the concretes of over 14 days age was influenced slightly by water impacted.
Originality/value
The test results would play a practical technique guide role for the safety of this project during construction in the flood season.
Details
Keywords
The purpose of this paper is to argue that, despite the attention given to China's rising importance in the international marketplace, there has not been a corresponding attention…
Abstract
Purpose
The purpose of this paper is to argue that, despite the attention given to China's rising importance in the international marketplace, there has not been a corresponding attention given to the sustainability dimensions i.e. social and environmental dimensions of this economic development trajectory. Specifically, what type of business strategy can and will best serve the economic, environmental and social needs of China, and what role if any can the private sector play facilitating the development of such a strategy?
Design/methodology/approach
The paper first examines the evolving relationship between business and sustainable development. Second, the sustainability challenge within the regional context in the Asia‐Pacific region is outlined. Third, the sustainability challenges posed by China's rise in the global economy are analyzed and the impacts of these challenges on current and future business strategies examined. Findings.– In order to fully understand the strategic convergence between China, business and sustainability concerns, it is important to understand the evolving relationship between business and sustainable development as well as the sustainability challenge within the regional context in the Asia‐Pacific region, and assess the impacts of these issues on current and future business strategies in China.
Research limitations/implications
The next step for research will be to explore if the new sustainable business models can be designed and implemented which are suitable to the market reality of China's economy.
Originality/value
The value of this paper is to seek new ideas for business strategy and new venture creation that incorporates a triple bottom line (economic, environment and social) perspective.