Xian Wang, Yijian Zhao, Qingyi Wang, Huang Yixing and Gabedava George
This paper focuses on the orientation of the economy expressed in the communication of the Central Economic Work Conference (CEWC) of China and its relation with the stock market…
Abstract
Purpose
This paper focuses on the orientation of the economy expressed in the communication of the Central Economic Work Conference (CEWC) of China and its relation with the stock market. This study seeks to explore which orientation of the economy may have a stronger impact on the rise of the stock market. It proposes words connoting orientation of the economy (WOE) that is closely related to the stock market, and different WOE has different impacts on the stock market in terms of intensity. The study aims to provide investors with better investment strategies by identifying the stronger developmental WOE.
Design/methodology/approach
The paper opted for an exploratory study using the textual analysis approach, based on a corpus of 28 CEWC communications spanning from 1994 to 2021. The raw corpus amounted to 50,754 words in total that are treated with noise reduction method and record an effective corpus of 39,591.
Findings
The paper provides empirical insights into the close relationship of the WOE of the CEWC to the stock market, and different WOE has different impacts on the stock market in terms of intensity. It suggests that WOE connoting development may forecast a rising stock market if it is nearly 40% higher than the other two WOEs by impact index.
Research limitations/implications
As WOE is only proven in the CEWC, this paper has its limitations in the scope of samples. It is necessary to apply WOE to more Central Bank communication (CBC) and countries. It is desirable to apply the Gunning–Fog index.
Practical implications
The paper includes implications for investors to read out the orientation of the economy and the degree of different WOEs. Investors are keener to know “what” degree of the CEWC leads to the rise/fall of the stock market. The impact index can be an indicator of a tendency of the stock market, which upgrades the rationality of investment decisions.
Social implications
This paper fulfills words connoting the orientation of economy as an identified linguistic feature, which the impact of CEWC on stockmarket can be measured.
Originality/value
Previous academic research studies mostly focus on the impact on stock market from the language features of CBC, rather than that from the more influential body, CEWC communication. This study seeks to provide the relationship of CEWC communication and the time length of the impact on the stock prices.
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Yuto Kitamura, Jing Liu and Moon Suk Hong
Despite children’s academic excellence in East Asian countries, school education in this region faces a range of challenges to build inclusive and quality education for all. This…
Abstract
Despite children’s academic excellence in East Asian countries, school education in this region faces a range of challenges to build inclusive and quality education for all. This chapter aims at examining how these challenges occur and what actions have been taken to deal with them. By focusing on China, Japan, and the Republic of Korea, the chapter first reviews reforms of school education since the 1990s in these countries. The subsequent sections then present educational disparity and a new mode of teaching and learning in these countries. It concludes by addressing that East Asian countries must explore more common ground for building a more collective sense and identity to share responsibility for building a resilient, inclusive and sustainable world through global citizenship education and education for sustainable development.
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Ting Jin, Wei Shao, Deborah Griffin and Mitchell Ross
This study aims to explore the perceptions about Chinese brands from the point of views of young Chinese consumers.
Abstract
Purpose
This study aims to explore the perceptions about Chinese brands from the point of views of young Chinese consumers.
Design/methodology/approach
A qualitative method is used including focus groups and in-depth personal interviews with young Chinese consumers who are currently living and working in Australia.
Findings
Two key findings emerge from the results, namely, young Chinese consumers attach symbolic values to Chinese brands and Chinese brands are perceived positively by young Chinese consumers.
Research limitations/implications
This study demonstrates that symbolic values (such as pride, lifestyle, feeling of home and being happy) constitute one of the primary motivations for young Chinese consumers’ purchase of domestic brands. The results of this study challenge the traditional view that Chinese brands are perceived negatively in the Chinese market.
Originality/value
This is one of the very few studies investigating how young Chinese consumers perceive brands from their home country rather than foreign brands.
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The purpose of this paper is to review the major systemic educational reforms that China has undertaken over the past three decades and analyze the reasons behind their different…
Abstract
Purpose
The purpose of this paper is to review the major systemic educational reforms that China has undertaken over the past three decades and analyze the reasons behind their different degrees of success.
Design/methodology/approach
Two running themes are identified among various reforms on the Chinese educational system: decentralization and marketization. The authors explore the driving forces behind these reforms and discuss whether the reforms were successful or not.
Findings
In conclusion, the authors highlight four takeaway lessons of Chinese educational reforms.
Originality/value
This is an original discussion of educational reforms in China in the contexts of decentralization and marketization.
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Gaoming Zhang, Yong Zhao and Ning Li
The relatively short history of internet colleges in China offers a glimpse of the potential of online education in the country and also reveals many of the problems involved in…
Abstract
Purpose
The relatively short history of internet colleges in China offers a glimpse of the potential of online education in the country and also reveals many of the problems involved in institutionalizing online education in an established system. This paper aims to present the development of online higher education in China by reviewing the development of “internet colleges”, examine the unique features of online higher education and the challenges it faces, and discuss the future directions of online higher education in China.
Design/methodology/approach
By reviewing major policies on online education in China and the development of “internet colleges” in the past two decades, this paper reviews the development of online higher education in China.
Findings
The development of online higher education in China has unique features: central control and the support from learning support centers affiliated with “internet colleges”. To further develop online higher education in China, it has to address two major challenges it is facing now: perceived low quality and prestige, and limited opportunities for international collaboration. Some of the problems are universal, such as quality assurance and the perception of quality and prestige. Some are unique to China, such as the direct involvement of the Ministry of Education in setting guidelines and regulations about online educational programs (though similar problems could arise in other centralized education systems where the government, rather than the market and the public, plays a major role).
Originality/value
The vast educational market in China and the potential of online education also present interesting opportunities for foreign higher education institutions.
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Heidi Ross, Ran Zhang and Wanxia Zhao
This chapter examines the changing state–university–student relationships in post/socialist China since the late 1980s. We begin with an introduction to four salient themes in…
Abstract
This chapter examines the changing state–university–student relationships in post/socialist China since the late 1980s. We begin with an introduction to four salient themes in scholarship on Chinese post/socialism that are highly relevant to higher education: globalization, gradualism, civic society, and a critique of holism. These themes help us explain interrelated educational trends that affect the state–university–student relationship: the globalization, “massification,” and stratification of higher education; the redefined role of the state in university governance and management; higher education marketization and privatization; and the quest for meaning and (e)quality in and through higher education. Our general argument is that during the “socialist” period the main relationship central to higher learning was between the state and students. Universities were agents of the state; from a legal point of view, indeed, universities did not have an independent status from the state. In the “post-socialist” era the university–student relationship has become more significant. We examine this reconfiguration through two case studies, one on the development of college student grievance and rights consciousness, and the other on reforms in higher education student services administration. When looked at from the point of view of the state, we see that appropriation and implementation of policies and regulations shaping student rights and services are in partial contradiction with state policies to accelerate economic growth and bolster party authority. From the point of view of universities, we see institutions grappling with how to deliver on forward-looking structures and actions while navigating between the state's policy mandates and growing expectations and demands of its student and business stakeholders. From the point of view of students, we see how constrained agency, uncertainty, and the power of the credential motivates social praxis. At all levels of the state–institution–student relationship actors are employing a kind of pragmatic improvisation (one of the salient features of post/socialism) captured by the well-known Chinese proverb “groping for stones to cross the river.” This saying is an apt metaphor for the tentative searching by state, institution, and individual for a safe foothold in the post/socialist world.
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Hai-xi Jiang and Nan-ping Jiang
A more accurate comprehension of data elements and the exploration of new laws governing contemporary data in both theoretical and practical domains…
Abstract
Purpose
A more accurate comprehension of data elements and the exploration of new laws governing contemporary data in both theoretical and practical domains constitute a significant research topic.
Design/methodology/approach
Based on the perspective of evolutionary economics, this paper re-examines economic history and existing literature to study the following: changes in the “connotation of production factors” in economics caused by the evolution of production factors; the economic paradoxes formed by data in the context of social production processes and business models, which traditional theoretical frameworks fail to solve; the disruptive innovation of classical theory of value by multiple theories of value determination and the conflicts between the data market monopoly as well as the resulting distribution of value and the real economic society. The research indicates that contemporary advancements in data have catalyzed transformative innovation within the field of economics.
Findings
The research indicates that contemporary advancements in data have catalyzed disruptive innovation in the field of economics.
Originality/value
This paper, grounded in academic research, identifies four novel issues arising from contemporary data that cannot be adequately addressed within the confines of the classical economic theoretical framework.
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Lihua Wang, Joel Nicholson and Jun Zhu
The purpose of this paper is to provide a comprehensive review and critique of what we already know about pay systems in Chinese state‐owned enterprises, to identify the gaps in…
Abstract
Purpose
The purpose of this paper is to provide a comprehensive review and critique of what we already know about pay systems in Chinese state‐owned enterprises, to identify the gaps in the literature and to stimulate more research in this area.
Design/methodology/approach
The paper first describes the policy issues at the macro‐level (government policies) in order to put micro‐level pay practices in a pertinent context. Then the paper provides a detailed review and critique on current empirical studies on pay practices in Chinese enterprises, their antecedents and consequences. Finally, the paper identifies potential research questions and provides some directions for future research.
Findings
The paper concludes from the extensive review of the current literature that the following research areas merit attention: Why do some firms pay their employees more than other firms? Why do we observe different types of internal pay structures among firms? What are the consequences of these different structures? Why is the link between pay and performance weak in some firms but strong in others? Under what conditions pay‐for‐performance enhances firm performance?
Originality/value
The paper is one of the most comprehensive reviews of the literature on compensation practices of Chinese companies.