State-owned Enterprises (state-owned + enterprises)

Distribution by Scientific Domains


Selected Abstracts


Changing Patterns of Industrial Relations in Taiwan

INDUSTRIAL RELATIONS, Issue 3 2003
Shyh-Jer Chen
This article examines changing patterns of industrial relations (IR) in Taiwan. Although trade unions have become more autonomous since the lifting of martial law in the mid-1980s, trends such as the privatization of state-owned enterprises, industrial restructuring, flexible employment practices, and importation of foreign workers hinder union development. The millennium may represent a turning point for workers and their organizations because the Democratic Progressive Party (DPP) replaced the Kuomintang (KMT) as the ruling party. This may further union independence and power because the DPP tends to be a more pro-labor party. However, balancing the interests of workers and employers will still be a challenge for the DPP, particularly given employer opposition to many of the DPP's labor policies. [source]


Learning organization in mainland China: empirical research on its application to Chinese state-owned enterprises

INTERNATIONAL JOURNAL OF TRAINING AND DEVELOPMENT, Issue 4 2004
De Zhang
This paper examines the applicability of the learning organization concept and its measurement in a Chinese context. Based on the theoretical framework proposed by Watkins and Marsick (1993, 1996, 1997), this paper identifies the differences in seven of the Dimensions of Learning Organization Questionnaire (DLOQ) between traditional state-owned enterprises (SOEs) versus independent listed companies and companies in service versus manufacturing industries in China. Results indicate that the Chinese version of the DLOQ demonstrated acceptable psychometric properties. Service companies exhibit better learning practices than manufacturing companies; however, the independently listed companies failed to show better learning practices than their unlisted counterparts. Implications for practice and future research are discussed. [source]


Current and Future Problems of Capital Accumulation in the Chinese Pension System

INTERNATIONAL SOCIAL SECURITY REVIEW, Issue 4 2000
Zhang Jinchang
The decree establishing a uniform system of basic pensions for employees in municipal and private enterprises, published by the State Council on 16 July 1997, reflects the Chinese Government's ultimate choice in favour of a partly private funded scheme to cover future pension needs. This article examines the reasons which led to this choice and asks how easy or otherwise it will be to find the capital to finance it. The authors believe that the partly private scheme is more advantageous than other methods and is right for China. Many issues, however, remain the focus of lively debate. In particular, a realistic coordination of individual and group accumulation is needed in order to avoid shortfalls in capital formation and the dangers of inadequate benefit provision. To safeguard the subsistence needs of former workers in state-owned enterprises, a system of equalization at national level is needed, and problems continue over how future pension insurance funds should best be managed. [source]


Voluntary Disclosure by State-owned Enterprises Listed on the Stock Exchange of Hong Kong

JOURNAL OF INTERNATIONAL FINANCIAL MANAGEMENT & ACCOUNTING, Issue 2 2002
Michael J. Ferguson
This study examines the impact of international capital market pressures on the voluntary disclosure of three types of information (strategic, financial, and non-financial) in the annual reports of former wholly state-owned People's Republic of China (PRC) enterprises, listed on the Stock Exchange of Hong Kong (SEHK). Consistent with a cost­benefit framework, we find that PRC H-Share firms disclose significantly more strategic and financial information than other SEHK firms. Additional analysis of disclosures in their home listings on the PRC exchanges, however, suggests an alternative explanation. The fact that these firms have been selected for "showcasing" in international capital markets may also play a role in our findings. While H-Share firm disclosures in the PRC also appear sensitive to management's assessment of the associated costs, the magnitude of differences across listing locations suggests that disclosure practices on the SEHK may also reflect the effects of state-encouraged disclosure policies. Our findings contribute to the understanding of disclosure behavior among former wholly state-owned enterprises and to the emerging literature on the efficacy of the privatization process. [source]


Returns to Education during the Reform of State-owned Enterprises in Hunan, People's Republic of China

LABOUR, Issue 3 2002
Xiaoyu Huang
The objective of this paper is to analyse the impact of education on personal earnings during the reform of state-owned enterprises, comparing 1995 with 1998 in Hunan, China, using the Mincerian earnings equation method. The results show that the rates of return to education increased, indicating that human capital has been better rewarded as the reforms of the Chinese economic structure have progressed. Moreover, the findings show that primary education receives the highest returns, followed by tertiary education. Middle school education obtains the lowest rewards, reflecting the effects of the reform of state-owned enterprises on middle school graduates on whom the unemployment impact of this change has been the greatest. [source]


Client Influence and the Contingency of Professionalism: The Work of Elite Corporate Lawyers in China

LAW & SOCIETY REVIEW, Issue 4 2006
Sida Liu
This study examines how the professional work of elite corporate lawyers is constructed by influence from different types of clients. The data presented include interviews with 24 lawyers from six elite corporate law firms in China and the author's participant-observation in one of the firms. For these elite Chinese corporate law firms, foreign corporations, state-owned enterprises, and private enterprises constitute their extremely diversified client types. Accordingly, lawyers' work becomes flexible and adaptive to accommodate the different demands of the clients. Meanwhile, client influence on lawyers' professional work is mediated by the division of labor within the corporate law firm: whereas partners have solid control over the process of diagnosis, inference, and treatment and thus enjoy a high degree of professional autonomy, associates are largely stripped of this cultural machinery in the workplace, and their work becomes vulnerable to client influence. As a result, client influence on professional work appears to decrease with a lawyer's seniority. [source]


RISING WAGES: HAS CHINA LOST ITS GLOBAL LABOR ADVANTAGE?

PACIFIC ECONOMIC REVIEW, Issue 4 2010
Dennis Tao Yang
We document dramatic rising wages in China for the period 1978,2007 based on multiple sources of aggregate statistics. Although real wages increased seven-fold during the period, growth was uneven across ownership types, industries and regions. Over the past decade, the wages of state-owned enterprises have increased rapidly and wage disparities between skill-intensive and labour-intensive industries have widened. Comparisons of international data show that China's manufacturing wage has already converged to that of Asian emerging markets, but China still enjoys enormous labour cost advantages over its neighbouring developed economies. Our analysis suggests that China's wage growth will stabilize to a moderate pace in the near future. [source]


The Choice of Private Versus Public Capital Markets: Evidence from Privatizations

THE JOURNAL OF FINANCE, Issue 6 2004
WILLIAM L. MEGGINSON
ABSTRACT We examine the impact of political, institutional, and economic factors on the choice between selling a state-owned enterprise in the public capital market through a share issue privatization (SIP) and selling it in the private capital market in an asset sale. SIPs are more likely in less developed capital markets, for more profitable state-owned enterprises, and where there are more protections of minority shareholders. Asset sales are more likely when there is less state control of the economy and when the firm is smaller. Our results suggest the importance of privatization activities in developing the equity markets of privatizing countries. [source]


Efficiency, Performance and Changing Corporate Governance in China's Township,Village Enterprises since the 1990s

ASIAN-PACIFIC ECONOMIC LITERATURE, Issue 1 2001
Russell Smyth
This article outlines some of the major challenges facing Chinese township,village enterprises (TVEs) since the 1990s. The authors argue that the internal mechanisms associated with the unique ownership structure of TVEs has allowed them to perform better than state-owned enterprises (SOEs). Since the mid-1990s, debt levels in the TVE sector have increased sharply. Most of the problems of TVEs have been magnified by the close relationship between local governments and enterprises, which was once one of their major strengths. Since the mid-1990s, local governments have come to regard TVEs with high levels of debt as a burden rather than an asset. In response local governments have moved to other, more indirect forms of governance over most TVEs under their control, while retaining direct control over the most successful. These alternative ownership structures include share-holding co-operatives and outright privatisation. [source]


From Public To Private: Evidence From a Transitional Economy Setting

AUSTRALIAN ACCOUNTING REVIEW, Issue 3 2009
Tyrone M. Carlin
The literature on public financial management reform has devoted comparatively little attention to the detail and effect of reform process implementation in developing economies. This study contributes to an understanding of this phenomenon by examining the impact of privatisation on a sample of previously state-owned enterprises in Vietnam. Using a detailed, financially focused methodology and drawing on data sourced from audited general purpose financial statements, our analysis suggests evidence of material variation in financial performance and position post-privatisation compared to the position observed immediately prior to privatisation. Specifically, our data suggest that after being privatised, firms generally exhibit reductions in profitability, some degree of improvement in working capital management, an increase in financial leverage accompanied by a higher degree of solvency risk and greater calls on cash resources for the purpose of funding capital expenditure. Our results assist with understanding the impact of privatisation as a reform technique in developing economies, and may help policymakers and managers better target areas of likely risk, during the process of transition from public to private ownership. [source]


L'impact de la commercialisation et de la privatisation sur l'efficacitée technique des sociéetées d,ÉEtat au Canada

CANADIAN JOURNAL OF ADMINISTRATIVE SCIENCES, Issue 4 2003
Richard Bozec
Résumé L'objectif de cette éetude est d'analyser I'impact de la privatisation sur I'efficacite technique d'un groupe de societes d'Etat au Canada. L'attention est toutefois portee sur les changements qui auront precede le transfen de propriete et qui visent a commercialiser les entre-prises. Au Canada, la commercialisation des entreprises du secteur public fut initiee vers le milieu des annees 80. Ces reformes se sont poursuivies par la privatisation de certaines societes d'Etat. Ce contexte particulier permet donc d'evaluer dans quelle mesure la commercialisation affecte la performance post-privatisation. Les resultats obtenus suite aux analyses multivariees suggerent que la commercialisation et la privatisation ont un impact positif et significatif sur l'efficacite technique des societes d'Etat. Les resultats revelent aussi qu'une fois les entreprises commercialisees, l'impact de la privatisation sur l'efficacite des entreprises devient non significatif. Abstract This study sets out to analyze the impact of privatization on the technical efficiency of some state-owned enterprises (SOEs) in Canada. It also focuses on the changes that are undertaken, prior to the transfer of property, in a bid to commercialize the corporations. In Canada, the commercialization of public sector enterprises started in the mid-1980s and the reforms were pursued with the privatization of SOEs. This specific context can be used to assess the impact of commercialization on the performance of public corporations in the post-privatization era. The results obtained following the multivariate analysis show that commercialization and privatization have a positive and significant impact on the technical efficiency of SOEs. They also show that once the corporations are commercialized, the impact of privatization on their efficiency becomes insignificant. [source]


Risk Management with Duration: Potential and Limitations

CANADIAN JOURNAL OF ADMINISTRATIVE SCIENCES, Issue 2 2000
Gerald O. Bierwag
This paper demonstrates the applicability of duration as a risk management tool for government organizations. Drawing on a real case, we present methodologies for quantifying (a) the durations of real assets on a government's balance sheet, and (b) the durations of the financial assets represented by shares in state-owned enterprises (SOEs). In the area of real physical assets on the balance sheet we focus on the highway system and on real estate owned by the government. The methodology for measuring durations of SOEs focuses primarily on an electrical utility. Our main conclusion is that it is feasible to derive excellent practical measures of the real durations of physical assets on a government's balance sheet. Far from being academic curiosities,such durations can be estimated with a fair degree of accuracy in practice. The paper also indicates some of the potential limitations of duration analysis as a risk management tool for such organizations. Résumé En tant que grand succès de la finance académique, l'analyse de durée profite d'une application étendue de la part des praticiens de différents millieux du secteur privé. Cet article démontre la possibilité d'utiliser les durées comme outil de gestion du risque dans les organisations gouvernementales. En se basant sur un cas réel, nous présentons les méthodes pour quantifier (1) les durées des valeurs réelles d'un bilan gouvernemental et (2) les durées des valeurs financières représentées par des parts dans des sociétés d'état. Pour ce qui est des valeurs physiques réelles du bilan, nous nous arr,tons sur le système autoroutier et sur les biens immobiliers possédés par le gouvernement. La méthode de mesure des durées des sociétés d'état focalise sur une compagnie de service électrique. Notre conclusion principale est qu'il est possible de tirer d'excellentes mesures pratiques des durées réelles des valeurs physiques du bilan financier d'un gouvernement. Loin d',tre de pures curiosités académiques, de telles durées peuvent ,tre, en pratique, estimées avec un degré raisonnable de précision. L'article mentionne de plus certaines limites potentielles de l'analyse de durée comme outil de gestion de risque pour de telles organisations. [source]