The Li & Fung Group, a century-old, family-controlled multinational group of companies based in Hong Kong, seems to be an exception to the traditional perception of Chinese family…
Abstract
Purpose
The Li & Fung Group, a century-old, family-controlled multinational group of companies based in Hong Kong, seems to be an exception to the traditional perception of Chinese family business. The aim of this paper is to explore why this company can overcome the fatalism that “family business could not pass on over three generations”.
Design/methodology/approach
This paper will use in-depth case study as key methodology for exploring key research question of family business sustainability. Archival data, including company registration records, newspaper reports, biographical materials and company annual reports, etc., are major secondary data that will be used for qualitative analysis.
Findings
The important findings in this paper is that the authors can identify key ways for solving family conflict and business continuity. Through in-depth study, the authors argue that because Li & Fung can effectively adopt the “pruning the family tree” mechanism and “listing and de-listing” mechanism during critical stages of succession and development, it has flourished for over a century and is therefore a model for other Chinese family businesses to follow.
Research limitations/implications
Because the authors did not conduct personal interviews with the family members of the company, the authors do not have “insiders’ view” on the company development. Also, it is a century-old company, and many historical data cannot be obtained, so some of the developments would not be fully explained and understood.
Practical implications
It can let family business owners, staffs working in family business and professionals serving family business know better that although there are negative sides of family business, their positive sides should not be underestimated. If a proper mechanism can be rightly executed, its negative side could be large reduced, whereas its positive side could be better enhanced.
Social implications
This paper can offer insightful implication to the society that family business, in fact, is highly dynamic. It not only creates jobs by offering services and producing goods but stimulates economic development as family the fertile ground for breeding entrepreneurship.
Originality/value
There is no analysis in the academia in exploring the Li & Fung Group’s development from the perspective of leadership and ownership competition. So, the originality of this paper is very high.
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This paper aims to give a brief review on behavioral economics and behavioral finance and discusses some of the previous research on agents' utility functions, applicable risk…
Abstract
Purpose
This paper aims to give a brief review on behavioral economics and behavioral finance and discusses some of the previous research on agents' utility functions, applicable risk measures, diversification strategies and portfolio optimization.
Design/methodology/approach
The authors also cover related disciplines such as trading rules, contagion and various econometric aspects.
Findings
While scholars could first develop theoretical models in behavioral economics and behavioral finance, they subsequently may develop corresponding statistical and econometric models, this finally includes simulation studies to examine whether the estimators or statistics have good power and size. This all helps us to better understand financial and economic decision-making from a descriptive standpoint.
Originality/value
The research paper is original.
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This chapter examines China’s corporate governance and accounting environment that shapes the adoption of internationally acceptable principles and standards. Specifically, it…
Abstract
This chapter examines China’s corporate governance and accounting environment that shapes the adoption of internationally acceptable principles and standards. Specifically, it examines international influences, including supranational organizations; foreign investors and international accounting firms; domestic institutional influences, including the political system, economic system, legal system, and cultural system; and accounting infrastructure. China’s convergence is driven by desired efficiency of the corporate sector and legitimacy of participating in the global market. Influenced heavily by international forces in the context of globalization, corporate governance and accounting practices are increasingly becoming in line with internationally acceptable standards and codes. While convergence assists China in obtaining legitimacy, improving efficiency is likely to be adversely affected given that corporate governance and accounting in China operate in an environment that differs considerably from those of Anglo-American countries. An examination of the corporate governance and accounting environment in China suggests heavy government involvement within underdeveloped institutions. While the Chinese government has made impressive progress in developing the corporate governance and accounting environment for the market economy, China’s unique institutional setting is likely to affect how the imported concepts are interpreted and implemented.
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Kam Cheong Li and Billy Tak-Ming Wong
This paper aims to present a comprehensive overview of the patterns and trends of publications on artificial intelligence (AI) in personalised learning. It addresses the need to…
Abstract
Purpose
This paper aims to present a comprehensive overview of the patterns and trends of publications on artificial intelligence (AI) in personalised learning. It addresses the need to investigate the intellectual structure and development of this area in view of the growing amount of related research and practices.
Design/methodology/approach
A bibliometric analysis was conducted to cover publications on AI in personalised learning published from 2000 to 2022, including a total of 1,005 publications collected from the Web of Science and Scopus. The patterns and trends in terms of sources of publications, intellectual structure and major topics were analysed.
Findings
Research on AI in personalised learning has been widely published in various sources. The intellectual bases of related work were mostly on studies on the application of AI technologies in education and personalised learning. The relevant research covered mainly AI technologies and techniques, as well as the design and development of AI systems to support personalised learning. The emerging topics have addressed areas such as big data, learning analytics and deep learning.
Originality/value
This study depicted the research hotspots of personalisation in learning with the support of AI and illustrated the evolution and emerging trends in the field. The results highlight its latest developments and the need for future work on diverse means to support personalised learning with AI, the pedagogical issues, as well as teachers’ roles and teaching strategies.
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Albert P.C. Chan, Yang Yang, Francis K.W. Wong, Daniel W.M. Chan and Edmond W.M. Lam
– The aim of this study is to investigate wearing comfort of summer work uniforms judged by construction workers.
Abstract
Purpose
The aim of this study is to investigate wearing comfort of summer work uniforms judged by construction workers.
Design/methodology/approach
A total of 189 male construction workers participated in a series of wear trials and questionnaire surveys in the summer of 2014. They were asked to randomly wear two types of work uniforms (i.e. uniforms A and B) in the two-day field survey and the subjective attributes of these uniforms were assessed. Three analytical techniques, namely, multiple regression, artificial neural network and fuzzy logic were used to predict wearing comfort affected by the six subjective sensations.
Findings
The results revealed that fuzzy logic was a robust and practical tool for predicting wearing comfort in terms of better prediction performance and more interpretable results than the other models. Pressure attributes were further found to exert a greater effect than thermal–wet attributes on wearing comfort. Overall, the use of uniform B exhibited profound benefits on wearing comfort because it kept workers cooler, drier and more comfortable with less work performance interference than wearing uniform A.
Originality/value
The findings provide a fresh insight into construction workers’ needs for work clothes, which further facilitates the improvement in the clothing tailor-made design and the enhancement of the well-being of workers.
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Maxwell Fordjour Antwi-Afari, Heng Li, Johnny Kwok-Wai Wong, Olugbenga Timo Oladinrin, Janet Xin Ge, JoonOh Seo and Arnold Yu Lok Wong
Sensing- and warning-based technologies are widely used in the construction industry for occupational health and safety (OHS) monitoring and management. A comprehensive…
Abstract
Purpose
Sensing- and warning-based technologies are widely used in the construction industry for occupational health and safety (OHS) monitoring and management. A comprehensive understanding of the different types and specific research topics related to the application of sensing- and warning-based technologies is essential to improve OHS in the construction industry. The purpose of this paper is to examine the current trends, different types and research topics related to the applications of sensing- and warning-based technology for improving OHS through the analysis of articles published between 1996 and 2017 (years inclusive).
Design/methodology/approach
A standardized three-step screening and data extraction method was used. A total of 87 articles met the inclusion criteria.
Findings
The annual publication trends and relative contributions of individual journals were discussed. Additionally, this review discusses the current trends of different types of sensing- and warning-based technology applications for improving OHS in the industry, six relevant research topics, four major research gaps and future research directions.
Originality/value
Overall, this review may serve as a spur for researchers and practitioners to extend sensing- and warning-based technology applications to improve OHS in the construction industry.
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Tamara Korenman and Agnieszka Kozielska
This lesson utilizes Good Fortune: My Journey to Gold Mountain, a well-written autobiography that tells of one family’s story of immigration to the US through Angel Island in the…
Abstract
This lesson utilizes Good Fortune: My Journey to Gold Mountain, a well-written autobiography that tells of one family’s story of immigration to the US through Angel Island in the 1930s. This lesson can be used in a secondary school classroom to discuss controversial issues related to immigration quotas and discrimination. The book demonstrates the great desire of immigrants to survive and provokes thoughts and feelings that move adolescents to reflection in speaking and writing.
Jilnaught Wong, Norman Wong and Willow Yangliu Li
This paper aims to examine the financial statement impact resulting from the tax depreciation on buildings that was reinstated on 25 March 2020 as part of the New Zealand…
Abstract
Purpose
This paper aims to examine the financial statement impact resulting from the tax depreciation on buildings that was reinstated on 25 March 2020 as part of the New Zealand Government’s coronavirus (COVID-19) tax support package. The COVID-19 pandemic and the tax relief created an accounting response to map the environment to accounting reports, reversing previously recognized deferred tax liabilities and increasing reported income as a result.
Design/methodology/approach
This is an exploratory and descriptive study to understand the accounting response and impact on companies’ financial statements following a COVID-19 tax relief to support businesses in a dire financial situation as the effects of COVID-19 took hold.
Findings
First, the accounting response provided the appropriate mapping from the COVID-19 environment to accounting reports. Second, the financial statement impacts are material, especially for companies with extensive holdings of buildings that are held for use. Third, while the accounting relief was immediate, the economic (cash flow) support does not occur until a year later.
Research limitations/implications
The financial statement impacts are based on a subset of NZX 50 companies with the available information at the time of writing. However, they do not compromise the external validity of the findings because the tax depreciation relief applies to other listed companies, unlisted public and private companies, trust, partnerships and individuals.
Practical implications
The New Zealand Government could have been more helpful to businesses by allowing an immediate depreciation deduction in the 2020 year as opposed to implementing it from 2021. Further, it could have legislated a backlog depreciation deduction from 2010 – when the depreciation on buildings was disallowed – to 2020.
Originality/value
This paper documents the evolution of the accounting for deferred taxes when the New Zealand Government withdrew the tax depreciation in 2010, how NZ IAS 12 evolved as a result of that event and now the reversal effect with the reinstatement of the tax depreciation during COVID-19. The paper also blends in the accounting responses and considers whether they are opportunistic or efficient.