Jianlin Wang, Yi Tian, Malin Song, Jiajia Zhao and Hongzhou Li
In the creation of coal consumption reduction policy, the Chinese Government selected eight provinces as key provinces and encouraged them to replace coal with other non-coal…
Abstract
Purpose
In the creation of coal consumption reduction policy, the Chinese Government selected eight provinces as key provinces and encouraged them to replace coal with other non-coal energy, involving Kaldor-Hicks improvement. The purpose of this paper is to answer how much coal can be conserved if Kaldor-Hicks improvement is considered.
Design/methodology/approach
A DEA model reflecting Kaldor-Hicks improvement is suggested to calculate the potential of coal reduction, and an endogenous directional distance function model is proposed to calculate the energy consumption efficiency.
Findings
The results show that the non-key provinces wasted more coal than the key provinces, although the latter are of more concern. From the Kaldor-Hicks criterion, ten non-key provinces in a certain year can save more coal from an energy substitution policy and eight key provinces cannot. Through measurement of coal and energy efficiency, it is also found that provinces with an abundance of coal perform the worst in China.
Originality/value
Previous studies measuring Chinese saving potential of coal mainly focused on Pareto-Koopmans criterion, not consistent to policy practices. This study changes to Kaldor-Hicks criterion, allowing to make some factors better off and other factors worse off.
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Lei Cao, Jianlin Cai, Cheng Wang, Tianyou Yang, Wei Zhou and Liwu Wang
The purpose of this study is to describe and observe the influence of boundary slip associated with an arbitrary entrainment angle on the contact lubrication properties of…
Abstract
Purpose
The purpose of this study is to describe and observe the influence of boundary slip associated with an arbitrary entrainment angle on the contact lubrication properties of ellipses.
Design/methodology/approach
Based on the modified Reynolds equation, the boundary slip of any angle is considered in the elliptic contact, and numerical simulation is carried out. In the above calculation, the progressive mesh densification method is used, which greatly reduces the computation time.
Findings
The results indicate that the variation of film thickness corresponding to different entrainment angles is distinct from those without considering boundary slip. In addition, boundary slip reduces the central film thickness and minimum film thickness, which makes the hydrodynamic pressure distribution smoother.
Originality/value
The present study focuses on the specific condition with the arbitrary direction of rolling and sliding velocity found in hypoid gears and worm, and some other components. The influence of boundary slip associated with arbitrary entrainment angle on the lubrication film thickness in elliptical contacts is first revealed, which improves a good understanding of elastohydrodynamic lubrication characteristics.
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Jae Jung and Devon Howe
The Wanda Case offers an overview of Wanda Group’s transition from a real estate firm in China to a global leader in the movie industry. Wanda Group, a Chinese conglomerate…
Abstract
Synopsis
The Wanda Case offers an overview of Wanda Group’s transition from a real estate firm in China to a global leader in the movie industry. Wanda Group, a Chinese conglomerate headquartered in Beijing, caused a major commotion in the US movie industry when it acquired AMC Entertainment in 2012. The AMC acquisition was the largest acquisition by a Chinese firm in the USA up to that time, costing $2.6 billion. Following that, a series of acquisitions had made Wanda Group the largest movie theater company, respectively, in the USA, Europe, and the World by the end of 2016. In order to fully comprehend the transition of the Wanda Group, the case begins by introducing the group’s origins and its original business model. It then discusses the challenges in the Chinese real estate market and factors that played a role in Wanda Group’s shift toward the movie industry. The authors further introduce the trends in movie theaters/production, recognized on a global scale in China and the USA, including key competitors in the industry. Last, the authors discuss Wanda Group’s global expansion efforts through major acquisitions in the USA and Europe, and the challenges that Wanda Group faced.
Research methodology
The case was written with publicly available information, such as newspaper articles, databases and corporate websites. The authors did not disguise any details.
Relevant courses and levels
This case can fulfill various learning goals in international business and strategy courses. First, this case offers detailed information about the diversification process of Wanda Group. It first diversified from real estate development into the movie cinema and production business in China (i.e. product diversification). More recently, Wanda Group diversified into the USA and Europe (i.e. geographical diversification). With the information provided in the case, students will be able to evaluate the costs and benefits of diversification strategies. Second, students can examine pros and cons of available entry modes for international expansions. Particularly, students will be able to evaluate the costs and benefits of acquisitions to Wanda Group’s international expansion. The authors also believe that this case can be used for introducing a relatively less-known emerging-market conglomerate, especially from China. Last, considering the rich information this case contains, the authors may use it as an exam case to evaluate students’ comprehensive knowledge gained from the course.
Theoretical bases
The case discusses corporate strategy, particularly diversification, the resource-based view, and institutional theory.
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Kui Du and Yuan-May Jaw
The purpose of this paper is to investigate how to manage the pace of international expansion through acquisitions based on a case study of a Chinese conglomerate, Wanda Group.
Abstract
Purpose
The purpose of this paper is to investigate how to manage the pace of international expansion through acquisitions based on a case study of a Chinese conglomerate, Wanda Group.
Design/methodology/approach
The paper is a qualitative study based on the analyses of the series of international acquisitions made by Wanda Group in the global cinema and film studio markets from 2012 through the middle 2017. Comprehensive qualitative data have been collected from public sources, including company press releases, media reports and interviews, for each and every major acquisition made by Wanda during this period. The collected materials are then analyzed to reveal the patterns of Wanda’s serial acquisitions.
Findings
When expanding globally through acquisitions, firms need to carefully pace their different types of acquisitions; managing the speed of post-acquisition integration can be critical; and managing public relations and communications in host countries is also important.
Research limitations/implications
The research is limited to one single case, so the generalizability of its findings needs further validation. The research contributes to cross-border acquisition studies by discussing the pacing of acquisitions and their affiliated activities.
Practical implications
The research offers an example of how firms pace their series of international acquisitions, whose lessons are potentially transferrable to other global acquirers.
Originality/value
The research takes a rarely used angle by studying serial acquisitions as a whole and focuses on the pacing of them. It is one of the very few in the acquisition literature to highlight the temporal patterns among serial acquisition moves.
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Dongfeng Liu, James J. Zhang and Michel Desbordes
Growth of China’s sport industry has brought tremendous opportunities to sport and non-sport organizations domestically and globally; nonetheless, the enlargement has also raised…
Abstract
Purpose
Growth of China’s sport industry has brought tremendous opportunities to sport and non-sport organizations domestically and globally; nonetheless, the enlargement has also raised many challenges. To a great extent, China has chartered into unprecedented new sport business territories. Because of social, cultural, historical, and governmental differences, many theories and knowledge, professional experiences, best practices, and lessons learned in Western countries may or may not be directly applicable to the diverse setting(s) in China. Until now, only limited empirical evidence is available to address these challenges. Thus, formulating a special issue in the International Journal of Sports Marketing and Sponsorship to examine contemporary subject matters and concerns would be significantly meaningful to help understand, stimulate, and improve sport business operations in China, provide guidance to transnational organizations for doing sport-related business in China, offer constructive suggestions for Chinese corporations going global, and ultimately build up theories and best practices to address unique perspectives of China’s sport industry. The paper aims to discuss these issues.
Design/methodology/approach
This paper is conceptual and presents a review of literature.
Findings
In addition to this leading paper, there are a total of eight manuscripts selected for this special issue inquiring on contemporary matters and development of China’s sport industry, including four short articles that were formulated based on qualitative research information derived from case studies and interviews and four full-length articles that adopted a quantitative research protocol or a mixed research design involving both qualitative and quantitative information.
Research limitations/implications
While it is impossible to capture all contemporary topics in the development of China’s sport industry within one journal issue, articles selected in this special issue of the International Journal of Sports Marketing and Sponsorship have provided useful highlights into some of the critical issues faced by the industry and research directions by academicians. It is sincerely expected that studies in this special issue would help inspire more scholarly inquires and ultimately improve the continued formulation and advancement of a strong sport industry in China.
Practical implications
While it is impossible to capture all contemporary topics in the development of China’s sport industry within one journal issue, articles selected in this special issue of the International Journal of Sports Marketing and Sponsorship have provided useful highlights into some of the critical issues faced by the industry and research directions by academicians. It is sincerely expected that studies in this special issue would help inspire more scholarly inquires and ultimately improve the continued formulation and advancement of a strong sport industry in China.
Social implications
While it is impossible to capture all contemporary topics in the development of China’s sport industry within one journal issue, articles selected in this special issue of the International Journal of Sports Marketing and Sponsorship have provided useful highlights into some of the critical issues faced by the industry and research directions by academicians. It is sincerely expected that studies in this special issue would help inspire more scholarly inquires and ultimately improve the continued formulation and advancement of a strong sport industry in China.
Originality/value
While it is impossible to capture all contemporary topics in the development of China’s sport industry within one journal issue, articles selected in this special issue of the International Journal of Sports Marketing and Sponsorship have provided useful highlights into some of the critical issues faced by the industry and research directions by academicians. It is sincerely expected that studies in this special issue would help inspire more scholarly inquires and ultimately improve the continued formulation and advancement of a strong sport industry in China.
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As a rising power, China has become increasingly interested in many problems in its region and on a global scale. China's investments in Europe and its strong economic relations…
Abstract
As a rising power, China has become increasingly interested in many problems in its region and on a global scale. China's investments in Europe and its strong economic relations with European economies have greatly increased its interest in Europe. In this context, in this study, China's approach to two case studies that have had a very serious impact on Europe in the recent period is discussed. These two events, which have both political and economic effects on the European Union and European countries, are Brexit and COVID-19. In this study, how China approaches these two events and what policies it implements will be shown. China's post-Brexit relations with the United Kingdom and comments on Brexit will be also shown. In the other case study, China's aids to European countries in the COVID-19 process and the image it wants to establish with these aids will be discussed. China's approach to these two events will be shared through the discourses of Chinese officials, especially Chinese leader Xi Jinping, and from the literature. As a result, it will be mentioned that China supports countries that need and cooperate with European countries based on economic relations in major crises.
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Xuanli Xie, Hao Ma and Xiaohui Lu
The purpose of this paper is to advance a proactive perspective on business exit and develop a typology of exit strategies.
Abstract
Purpose
The purpose of this paper is to advance a proactive perspective on business exit and develop a typology of exit strategies.
Design/methodology/approach
This is a research paper, which builds on extant theoretical and empirical research.
Findings
Business exit, along with entry, is an integral part of corporate strategy that a firm could utilize to reshuffle its business portfolio and embrace new opportunities. In today’s changing environment characterized by high uncertainty and high velocity, it becomes increasingly important for firms to manage business exit deliberately and proficiently. The traditional perspective which generally perceives exits as failures or responses to failures is no longer sufficient. A proactive perspective on exit could be advanced to better inform exit research and practice. Adopting the dynamic capabilities approach, this paper develops a typology of four exit strategies – retreat, redeploy, realign, and reconfigure – and examines the essential tasks of these strategies as well as the corresponding dynamic capabilities required for their successful implementation.
Originality/value
The proactive perspective advanced in this paper systematically coalesces and elaborates on extant research and formally advocates the importance and feasibility of proactive exit. The typology offered not only helps integrate the dynamic capabilities approach with exit research but also helps better inform exit practice.
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Zhenkuo Ding, Zhipeng Chen and Sheng Huang
This paper aims to examine the impact of top executives’ military experience on the internationalisation process of firms, as well as the boundary conditions of this impact.
Abstract
Purpose
This paper aims to examine the impact of top executives’ military experience on the internationalisation process of firms, as well as the boundary conditions of this impact.
Design/methodology/approach
The hypotheses are tested using 8,759 imbalanced panel samples in 1,718 China’s A-share listed firms.
Findings
The findings show that the military experience of top executives has a positive impact on the internationalisation process (scope, speed and rhythm) of firms. The managerial discretion strengthens the influence of top executives’ military experience on the internationalisation scope and speed but weakens its influence on the internationalisation rhythm.
Originality/value
The study contributes to the literature by testing the relationships that among military experience of top executives, firm internationalisation process and managerial discretion. The authors also help practitioners to become aware of the importance that the military experience of top executives have on firm internationalisation process, and managerial discretion can exert contingent influence on this relationship.
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The meeting ended with a call for high incomes to be regulated and for the rich to 'give back' more. It followed a series of dramatic regulatory actions against large private…