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To enhance the understanding of the antecedents of students' career adaptability, this study employs the crossover model to explore the potential transfer of career adaptability from headteachers to students and the underlying mechanisms involved.

This study examined the proposed moderated mediation model using matched survey data collected from 37 headteachers and 1,598 students in Chinese higher vocational colleges.

Headteachers’ career adaptability is positively related to students’ career adaptability via students’ psychological capital. An increased frequency of headteacher–student interactions strengthened the indirect relationship between headteachers' career adaptability and students' career adaptability.

The findings suggest that, under certain conditions, headteachers’ career adaptability could be transferred to students via students’ psychological capital.

The authors study and compare the effects of three CEO compensation restricting policies issued by the Chinese government in 2009, 2012 and 2015. This paper aims to shed light on the conditions under which CEO compenstation can be effectively regulated without negatively affecting firm performance.

These policies targeted state-owned enterprises (SOEs), especially central state-owned enterprises (CSOEs). Using these policies as natural experiments, the authors investigate how their effects differ on CEO compensation, firm performance and two known performance-decreasing mechanisms: perk consumption and tunneling activities.

The authors show that restricting CEO pay does not necessarily backfire in terms of deteriorating firm performance. This non-decreasing firm performance can be achieved by restricting perk consumption and tunneling activities while introducing CEO pay regulations.

The authors exploit a powerful experimental setting in the context of China. The evidence contributes to the literature on CEO pay regulations and is relevant to the managerial decisions of policy makers and boards of directors.

Online health monitoring of large complex equipment has become a trend in the field of equipment diagnostics and prognostics due to the rapid development of sensing and computing technologies. The purpose of this paper is to construct a more accurate and stable grey model based on similar information fusion to predict the real-time remaining useful life (RUL) of aircraft engines.

First, a referential database is created by applying multiple linear regressions on historical samples. Then similarity matching is conducted between the monitored engine and historical samples. After that, an information fusion grey model is applied to predict the future degradation trajectory of the monitored engine considering the latest trend of monitored sensory data and long-term trends of several similar referential samples, and the real-time RUL is obtained correspondingly.

The results of comparative analysis reveal that the proposed model, which is called similarity-based information fusion grey model (SIFGM), could provide better RUL prediction from the early degradation stage. Furthermore, SIFGM is still able to predict system failures relatively accurately when only partial information of the referential samples is available, making the method a viable choice when the historical whole life cycle data are scarce.

The prediction of SIFGM method is based on a single monotonically changing health indicator (HI) synthesized from monitoring sensory signals, which is assumed to be highly relevant to the degradation processes of the engine.

The SIFGM can be used to predict the degradation trajectories and RULs of those online condition monitoring systems with similar irreversible degradation behaviors before failure occurs, such as aircraft engines and centrifugal pumps.

This paper introduces the similarity information into traditional GM(1,1) model to make it more suitable for long-term RUL prediction and also provide a solution of similarity-based RUL prediction with limited historical whole life cycle data.

This paper examines the relationship between accounting outsourcing and audit lag. Accounting outsourcing may reduce misstatement risk, reducing the amount of audit effort necessary and thereby decrease audit lag. Alternatively, outsourcing may increase the amount of coordination necessary between the auditor, client management and the outside accounting service provider and thereby increase audit lag.

The accounting outsourcing/audit lag relationship is examined among closed-end mutual funds. These funds often outsource their accounting functions and disclose the names and services provided by any company providing services to the fund. These disclosures permit a consistent measurement of whether the fund outsources their accounting functions or performs them in-house.

This paper finds a positive relationship between accounting outsourcing and audit lag; outsourcing funds have audit lags that are two to three days longer than those not outsourcing their accounting. The results are robust to different specifications, controls for the distinctive characteristics of closed-end funds and consideration of endogeneity.

Closed-end funds could consider the increased time necessary to complete the audit when deciding whether to outsource their accounting functions.

By identifying a unique setting in which outsourcing data can be consistently obtained and analyzed (i.e. closed-end funds), this is the first study to empirically evaluate the relationship between accounting outsourcing and audit lag.

China’s swift economic rise, as symbolized by the first Chinese Olympics and by surpassing Japan to become the world’s second largest economy despite the recent global financial meltdown, has been accompanied by a transformation of Chinese foreign policy behavior. After spending the last decade emphasizing China’s “peaceful rise” or “peaceful development,” Beijing has begun to expound its policy preferences and territorial claims more forthrightly, even assertively. The purpose of this chapter will be to consider the origins, consequences, and likely future of the new Chinese foreign policy in the wake of the leadership transition at the 18th Party Congress in 2012 and the 12th National People’s Congress in 2013.

Following China entered the World Trade Organisation in November 2001, attention has been paid worldwide to the current Chinese legal system, political policies, and the development of economic reform. Recent debates on corporate governance in China have become a global topic of interest. The corporate governance reform is now the centre of the enterprise reform. This paper evaluates the development of corporate governance reform in China and identifies its changes in legislation on corporate control. This paper provides evidence to show that China has been making significant progress in the development of corporate governance reform. It concludes that China has established a fundamental legal framework for corporate governance. The changes in regulations on corporate control indicate that the development of a more sophisticated corporate governance system is under way. However, corporate governance reform in China is still at an early stage of development. The existing problems are still significant. Laws and legal institutions have experienced difficulties keeping up with the changes that have been taking place in China. The rights of selecting management of state‐owned enterprise still remain in the hands of the state. The reform of the banking system lags behind the development of the market economy and state‐owned banks are still under government's control. The paper argues that in Chinese context as far as the rights of selecting management remain in state's hand, the independent board of directors will have less power to achieve the goals in corporate control. Thus the agency problems will not be solved, and it is very difficult to excise and protect minority shareholders' interest. In today's Chinese market the corporate governance cannot provide the protection of minority investors' interests. This paper also argues that it is very dangerous for individual investors to invest in the Chinese market and they have to bear higher risks. This paper suggests that increasing the Sophistication of the corporate governance system of both internal and external control is the key for the Chinese market. This is because the Chinese context is very complicated. There are so many regulations and laws applied in business practice. Different companies and enterprises apply different laws. This paper points out when a national corporate governance system is established it should serve the whole economic market. Thus the further reform of state‐owned enterprises and also the banking system should take place so that China can build up a real economic market structure according to international regulations. This paper also suggests that in the long‐term, building up a cultural background for applying corporate governance system is very important in Chinese society. Improving the culture in the social environment could help to improve the corporate governance in business practices.

China has achieved continuous economic growth and become more integrated with the global economy since the start of the current financial crisis in late 2008. As the second largest economy in the world, China's political policies, economic and social development have influence on global economy. Attention has been paid worldwide to the current Chinese legal system, political policies and the development of economic reform since China entered the World Trade Organisation in November 2001. The corporate governance reform is the centre of the enterprise reform. In September 1999, The Fourth Plenum of the Chinese Communist Party's 15th central Committee identified that corporate governance is the core of the modern enterprise system. In recent years China has made significant progress in developing the foundations of a modern corporate system. There are more than 1,200 companies which have successfully diversified their ownership through public listing and 80% of small and medium size companies have been transformed into non-state-owned enterprises. More and more state-owned enterprises are on the way to transforming into corporations. China has formed a legal framework for corporate governance.

The purpose of this paper is to semantically annotate the content of digital images with the use of Semantic Web technologies and thus facilitate retrieval, integration and knowledge discovery.

After a review and comparison of the existing semantic annotation models for images and a deep analysis of the characteristics of the content of images, a multi-dimensional and hierarchical general semantic annotation framework for digital images was proposed. On this basis, taking histories images, advertising images and biomedical images as examples, by integrating the characteristics of images in these specific domains with related domain knowledge, the general semantic annotation framework for digital images was customized to form a domain annotation ontology for the images in a specific domain. The application of semantic annotation of digital images, such as semantic retrieval, visual analysis and semantic reuse, were also explored.

The results showed that the semantic annotation framework for digital images constructed in this paper provided a solution for the semantic organization of the content of images. On this basis, deep knowledge services such as semantic retrieval, visual analysis can be provided.

The semantic annotation framework for digital images can reveal the fine-grained semantics in a multi-dimensional and hierarchical way, which can thus meet the demand for enrichment and retrieval of digital images.

This paper outlines the rapid rise of China's fintech companies over the past decade with a focus on their globalization strategies as they enter their next phase of development.

The author examines China's current and prospective influence on global financial digitization trends, and assesses both domestic and foreign opportunities and challenges confronted by China's fintech firms as they look to expand abroad.

The Chinese government is experimenting with a radically new fintech system and a regulatory regime in response to it. Chinese ambitions to expand fintech influence through private companies and the state-led “digital RMB” (e-CNY) will likely provoke a wave of “digital protectionism” among developed nations to protect internal digital payments.

This paper is an original economic history research on China's fintech industry.