Search results

At present, the number of corporates certified by ISO14001 in China is ranked first in the world. This paper aims to explore the effectiveness of ISO14001 certification and the moderating effect of financial performance and external institutional pressures on the effectiveness.

This paper selects Shenzhen and Shanghai A-share listed companies in the heavy polluting industry from 2010 to 2017 as the research sample, and studies the impact of ISO14001 certification on corporate environmental performance and the moderating effect of financial performance and external institutional pressures.

This paper finds that ISO14001 certification has a positive impact on corporate environmental performance; corporate financial performance has a positive moderating effect in the relationship between ISO14001 certification and corporate environmental performance; government regulation, industry competition and media supervision also have positive moderating effects; and corporate environmental information disclosure has not yet had a positive moderating effect.

Most of the current empirical research on this topic are carried out in the context of developed countries, and lack empirical evidence from developing countries. This paper will help to make up for this deficiency. In addition, this paper will help explain why the effectiveness of ISO14001 certification generates variation in different corporates and under what conditions it will play a positive role.

This study aims to investigate the relationship between the ownership structure of firms and the private benefits of control through an analysis of Chinese listed firms.

Using a sample of Chinese firms, cases were examined where there had been a transaction involving non‐tradable stock. The cases where there had been stock transactions which both did and did not involve the transfer of control within a single year were selected. The difference between these two types of transaction was used to estimate the private benefits of control in Chinese listed firms. Regression analysis was used to explore the relationship between ownership structure and private benefits of control in Chinese listed firms.

The results show that the average private benefit of control is 18.52 percent in China. The regression results show a significant, positive relationship between the controlling shareholders, the combined shareholdings of the second to fifth largest shareholder and private benefits of control. However, there is a negative but insignificant relationship between the tradable share value and private benefits of control. With regard to the relationship between managerial shareholding and private benefits of control, the regression results show a positive but insignificant relationship.

Further insights into the private benefits of control can be obtained by inspecting the change around major corporate events involving significant ownership changes. In this study, the focus was on non‐tradable stock. Investigating all stock would be a fruitful area for future research.

In China, firms should optimize the ownership structure and curb expropriation by controlling shareholders. This would help to promote a sound development of Chinese listed firms and the capital market.

The research provides useful information on the impact of ownership structure on private benefits of control in a sample of listed firms in China.

The purpose of this paper is to explore how firms’ disclosure standards influence the syndicated loan market, with an emphasis on loan syndicate structure and composition.

To empirically investigate the effects of corporate disclosure on bank loan syndicate structure and composition, the authors hand-match Dealscan, Worldscope, and other databases and construct a sample across 11 emerging markets.

The authors found that lead banks retain less ownership and form a less-concentrated loan syndicate when borrowers have superior disclosure policies. The authors also concluded that lead banks select more foreign participants in a loan syndicate and these members retain more ownership when borrowers have high disclosure rankings. Finally, the authors present evidence that the relationship between corporate disclosure and bank loan syndicates is more significant for firms with better governance.

The findings suggest that corporate disclosure has a significant influence on financing arrangements, even in a weak governance environment.

The National People’s Congress (NPC) of People’s Republic of China, the highest organ of state power, is popularly seen as a rubber-stamp entity. However, it has been substantially evolving its roles to accommodate the governance discourses within China’s political system over the decades. This study aims to explore the changes of governance discourse of the NPC within China’s political system through which to offer a thorough understanding of the NPC’s evolving substantial role in current China.

This study deploys a historical approach to explore the changes of governance discourse of the NPC that has seen a growing importance in China’s political agenda, as argued by this study.

The authors find that the NPC has been substantially evolving its role within China’s political system in which the Chinese Communist Party has created different governance discourses. Besides, the NPC and its Standing Committee have asserted its authority as a substantial actor within China’s political system. The NPC is no longer functioned as a rubber-stamp institution, though it is still popularized as a rubber stamp by many scholars.

This study is a historical elaboration on the development of NPC under three governance discourses. It might be, to some extent, relatively descriptive in nature.

This study, therefore, sheds some light on a revisit on the governance discourses in current China.

The purpose of this paper is to draw on triadic reciprocal determinism and social exchange theory to examine how “induced-type” and “compulsory-type” union participation influence union commitment and job involvement, and how union participation in the west differs from that in China. It also examines whether the role of both organizational justice and employee participation climate (EPC) functions in the Chinese context.

Cross-sectional data are collected from 694 employees in 46 non-publicly owned enterprises, both Chinese and foreign, in the Pearl River Delta region of China. A multi-level moderated mediation test is used to examine the model of this research.

Union participation is positively related to organizational justice, union commitment and job involvement. In addition, organizational justice acts as the mediator among union participation, union commitment and job involvement. Specifically, the mediating role of organizational justice between union participation and union commitment, and between union participation and job involvement, is stronger in high-EPC contexts than low-EPC contexts.

Instead of examining the impacts of attitudes on union participation, as per most studies in the western context, this research examines the impacts of union participation in the Chinese context on attitudes, including union commitment and job involvement. It also reveals the role of both organizational justice and EPC in the process through which union participation influences union commitment and job involvement.