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The Construction and Analysis of Financial Liberalization Index of China
Issue:
Volume 6, Issue 4, August 2017
Pages:
48-52
Received:
11 May 2017
Accepted:
3 June 2017
Published:
13 July 2017
Abstract: This paper reviews the literature on financial liberalization, defines financial liberalization as a comprehensive reflection of the following aspects: interest rate liberalization, credit control relaxation, measures to encourage competition, macro-prudential supervision, diversification of banking property rights, securities market reform, international financial liberalization. For the past five years, almost all the major events in the process of China's financial liberalization are sorted out and assigned, then this paper uses PCA to do empirical analysis and constructs CFLI(financial liberalization index of China).
Abstract: This paper reviews the literature on financial liberalization, defines financial liberalization as a comprehensive reflection of the following aspects: interest rate liberalization, credit control relaxation, measures to encourage competition, macro-prudential supervision, diversification of banking property rights, securities market reform, intern...
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Focusing on Corporate IT Capability and Alliance Performance: An Empirical Analysis Based on Corporate Alliances in China
Issue:
Volume 6, Issue 4, August 2017
Pages:
53-57
Received:
15 May 2017
Accepted:
14 June 2017
Published:
18 July 2017
Abstract: This paper studied the relationship between corporate information technology (IT) capability and alliance performance based on a sample of Chinese corporate alliances. With regression analysis, this paper found IT capability has significantly positive effect on alliance performance and knowledge acquisition plays a role as a mediator, while regional industrial factor plays a role as a moderator. That means the positive effect of IT capability on alliance performance is stronger in cross-region alliances than same-region alliances and is stronger in high-dynamic industry than low-dynamic industry. The foundings can provide some valuable suggestions for executives and related policy-makers, especially in emerging markets.
Abstract: This paper studied the relationship between corporate information technology (IT) capability and alliance performance based on a sample of Chinese corporate alliances. With regression analysis, this paper found IT capability has significantly positive effect on alliance performance and knowledge acquisition plays a role as a mediator, while regiona...
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Study on the Risk of Commercial Banks by the Debt-for-Equity Swap
Xiao Wang,
Xin-ming Chen,
De-yun Zhen,
Ke Gao
Issue:
Volume 6, Issue 4, August 2017
Pages:
58-60
Received:
19 July 2017
Published:
19 July 2017
Abstract: With China’s economy changing into the new normal, the business environment faced by commercial banks has undergone major changes. The real economy is facing many difficulties. The rising rate of non-performing loans has become a business problem which commercial banks have to face. Therefore, in this kind of condition, The debt-for-equity swap seems to be a good recipe for commercial banks to regain their confidence in management. However, the author thinks that the debt-for-equity swap will bring many risks to commercial banks: Financial risk, Liquidity risk, Cash Payment risk and Moral risk. Therefore, if the debt-for-equity swap will be carried out massively, it is not necessarily a good thing for the commercial Banks. So we need to take a cold look at the debt-for-equity swap.
Abstract: With China’s economy changing into the new normal, the business environment faced by commercial banks has undergone major changes. The real economy is facing many difficulties. The rising rate of non-performing loans has become a business problem which commercial banks have to face. Therefore, in this kind of condition, The debt-for-equity swap see...
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Negative Media Coverage and Corporate Social Responsibility —— Empirical Evidence from Chinese A - Share Listed Companies
Issue:
Volume 6, Issue 4, August 2017
Pages:
61-66
Received:
19 July 2017
Published:
19 July 2017
Abstract: This paper takes the listed companies of Shanghai and Shenzhen A-shares as the object of research from 2013 to 2015, and makes an empirical test on the effect of corporate social responsibility of listed companies from two aspects: Negative media coverage and property rights. The results of the research show that: The negative reports of media are positively related to the fulfillment of corporate social responsibility, the more negative reports of media, the higher the performance level of corporate social responsibility of listed companies; There is a positive correlation between the nature of property rights and the performance level of corporate social responsibility, the performance of corporate social responsibility of listed companies with state-owned enterprises is better; The total number of media reports is positively related to the fulfillment of corporate social responsibility, the more the number of media reports, the better the corporate social responsibility.
Abstract: This paper takes the listed companies of Shanghai and Shenzhen A-shares as the object of research from 2013 to 2015, and makes an empirical test on the effect of corporate social responsibility of listed companies from two aspects: Negative media coverage and property rights. The results of the research show that: The negative reports of media are ...
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Evaluation of Grey Forecasting Method of Total Domestic Coffee Consumption in Indonesia
Tien-Chin Wang,
Muhammad Ghalih
Issue:
Volume 6, Issue 4, August 2017
Pages:
67-72
Received:
19 July 2017
Published:
19 July 2017
Abstract: Indonesia is the one of the world’s top coffee producing and exporting countries. Meanwhile, in this study, only focus on forecasting the total of domestic coffee consumption in Indonesia applied the Grey differential model which is called GM (1,1) model of Grey theory to predict the amount of domestic coffee consumption in Indonesia from 1990 to 2017. According to the estimated result, the average residual error of the Grey forecast model is over 5 percent. The model predicts that the total of consumption will increase in each year. Based on the experimental results, this proposed method apparently not only improve the forecasting accuracy of the original Grey models but also provide a valuable reference for Indonesia coffee farmer and industries to make the action plan for the future.
Abstract: Indonesia is the one of the world’s top coffee producing and exporting countries. Meanwhile, in this study, only focus on forecasting the total of domestic coffee consumption in Indonesia applied the Grey differential model which is called GM (1,1) model of Grey theory to predict the amount of domestic coffee consumption in Indonesia from 1990 to 2...
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Board Characteristics, Audit Committee and Ownership Structure Influence on Firm Performance of Manufacturing Firms in India
Issue:
Volume 6, Issue 4, August 2017
Pages:
73-87
Received:
29 April 2017
Accepted:
15 June 2017
Published:
24 July 2017
Abstract: The study investigates the relationship and impact of corporate governance measures such as board characteristics, audit committee and Ownership Structure on the financial performance of the selected manufacturing firms listed in Bombay Stock Exchange (BSE). The study empirical in nature and applies panel data regression analysis to a sample of 357 manufacturing firms listed in BSE during the period 2006-2015. The study found that board size is positively and significantly linked to both the financial performance measures, i.e. Return on assets (ROA) and Return on Equity (ROE) but the negative and insignificant impact in case of Tobin’s Q. Audit committee independence is significant and negatively affected by ROE. The same promoters' shareholding is negatively and significantly related to all the financial measures and there is an insignificant negative relationship between institutional shareholding and both financial performance measures (Tobin’s Q and ROA). The study implies that to improve the performance and accordingly the value of firms, the percentage of promoters' ownership should be decreased as it has positive linkages with the financial performance. The board members have potential knowledge and expertise in the field should be increased as it has aligned with accounting based financial performance. Further, it will help the investors to pay special attention to the corporate governance, audit committee and type of ownership of firms while making the investments.
Abstract: The study investigates the relationship and impact of corporate governance measures such as board characteristics, audit committee and Ownership Structure on the financial performance of the selected manufacturing firms listed in Bombay Stock Exchange (BSE). The study empirical in nature and applies panel data regression analysis to a sample of 357...
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