This paper examines executive compensation in the subsidiaries of business groups in China. Analyzing a sample of China business groups (the so-called “XiZu JiTuan” in Chinese) from 2003 to 2012, we find convincing evidence of the use of Relative Performance Evaluation (RPE) in the executive...

This paper reports on an empirical analysis of 42,094 public/private companies in China and 21 Eastern European countries to grasp the actual state and determinants of board gender diversity in emerging market firms. We confirmed that firms in these countries are comparable to those in advanced...

Pyramidal structures are the common methods to organize enterprises, either private or state-owned around the world. This study considers both political cost and agency cost theory in pyramidal structures constructed by Chinese government mainly for governmental decentralization. Although this...

Recent research suggests that unequal access to home country institutional resources affects firm internationalization strategies. We add to this debate, based on an analysis of state-owned (SOEs) and non-state-owned (NSOEs) Chinese mining firms, by developing a more dynamic and multi-layered...

Starting with the framework of New Institutional Economics, this Comment examines the institutional arrangements of Chinese and U.S. governance, and then scrutinizes their respective policy responses to the financial collapse of 2008. The latent thesis is that, notwithstanding differences in...

This article examines the transformation of clothing manufacturing in China with a focus on institutional support, technological upgrading and global production chains. The evidence shows that reforms and integration into global production chains has rapidly expanded China’s exports but it has...

This article examines how global production networks have benefited technological upgrading in the semiconductor industry in China. The evidence shows that trade has impacted positively on technological capabilities. The empirical evidence show that 93 percent of firms were engaged in...

What is missing in the literature on industrial clusters is the quantitative and empirical statement of the network structure of industrial cluster. In order to further the research of the structure of cooperative and coordinated relations among all kinds of organizations in cluster, the paper...

In this study we examine the effects of trade liberalization on domestic backward vertical integration in which a domestic upstream firm (target) is acquired by a domestic downstream firm. We first build a relationship-specific investment model to guide and provide insights to our empirical...

How did Chinese merchants remedy opportunism in a prevailing scenario of weak state enforcement during the Spanish period in the Philippines? The paper attempts to analyze 19th century historical accounts in elucidating how the utilization of guanxi sanctions provides useful insights in...