THE DEVELOPING ECONOMIES, Issue 3 2002
Yukihito SAT
This study shows that many bad loans now burdening Taiwan's financial institutions are interrelated with the society's democratization which started in the late 1980s. Democratization made the local factions and business groups more independent from the Kuomintang government. They acquired more political influence than under the authoritarian regime. These changes induced them to manage their owned financial institutions more arbitrarily and to intervene more frequently in the state-affiliated financial institutions. Moreover they interfered in financial reform and compelled the government to allow many more new banks than it had originally planned. As a result the financial system became more competitive and the qualities of loans deteriorated. Some local factions and business groups exacerbated the situation by establishing banks in order to funnel funds to themselves, sometimes illegally. Thus many bad loans were created as the side effect of democratization. [source]

The Impact of Financial and Tax Reporting Incentives on Option Grants to Canadian CEOs,

CONTEMPORARY ACCOUNTING RESEARCH, Issue 2 2000
KENNETH J. KLASSEN
Abstract This study explores the effects of financial and tax reporting incentives on options granted to chief executive officers in Canada. Extant studies with a similar objective (Yermack 1995; Matsunaga 1995) explore predominantly nonqualified U.S. option grants that are deductible to the extent that the options are in the money at the time of exercise. In contrast, Canadian firms do not get a tax deduction for their stock option grants at any time. In both countries, no expense is recorded for financial reporting purposes. As a result, the financial reporting and tax reporting trade-off is more pronounced in the Canadian setting of this study compared with the U.S. setting. We measure option granting behavior as the ratio of the Black-Scholes value of stock option grants to the sum of cash compensation and the value of stock option grants. Using a sample of 806 firm-year observations during the period 1993-95, we find that observed option grants are significantly correlated with proxies for short-run financial reporting incentives. We also find evidence that option granting behavior is correlated with proxies for tax incentives. [source]

Global Lessons from the AIDS Pandemic: Economic, Financial, Legal and Political Implications,by Bradly J. Condon and Tapen Sinha

DEVELOPMENT AND CHANGE, Issue 5 2009
Karunesh Tuli
No abstract is available for this article. [source]

Shaking table model test on Shanghai World Financial Center Tower

EARTHQUAKE ENGINEERING AND STRUCTURAL DYNAMICS, Issue 4 2007
Xilin Lu
Abstract The height of 101-storey Shanghai World Financial Center Tower is 492m above ground making it possible the tallest building in the world when completed. Three parallel structural systems including mega-frame structure, reinforced concrete and braced steel services core and outrigger trusses, are combined to resist vertical and lateral loads. The building could be classified as a vertically irregular structure due to a number of stiffened and transfer stories in the building. Complexities related to structural system layout are mainly exhibited in the design of services core, mega-diagonals and outrigger trusses. According to Chinese Code, the height 190 m of the building clearly exceeds the stipulated maximum height of for a composite frame/reinforced concrete core building. The aspect ratio of height to width also exceeds the stipulated limit of 7 for seismic design intensity 7. A 1/50 scaled model is made and tested on shaking table under a series of one and two-dimensional base excitations with gradually increasing acceleration amplitudes. This paper presents the dynamic characteristics, the seismic responses and the failure mechanism of the structure. The test results demonstrate that the structural system is a good solution to withstand earthquakes. The inter-storey drift and the overall behaviour meet the requirements of Chinese Design Code. Furthermore, weak positions under seldom-occurred earthquakes of seismic design intensity 8 are found based on the visible damages on the testing model, and some corresponding suggestions are proposed for the engineering design of the structure under extremely strong earthquake. Copyright © 2006 John Wiley & Sons, Ltd. [source]

Financial and Thermodynamic Equilibrium

ECONOMIC NOTES, Issue 3 2000
Antonio Roma
This paper explores general equilibrium asset pricing implications in a two-period model in which the production side explicitly describes the thermodynamic process unavoidably connected with production. We show that steady state of the production process, i.e. thermodynamic equilibrium, has a one-to-one correspondence with the absence of arbitrage possibilities. This provides an alternative definition of the absence of arbitrage. (J.E.L.: D5, G1, R3) [source]

Financial and business services , the driving force behind the UK's economic success

ECONOMIC OUTLOOK, Issue 3 2007
Article first published online: 6 AUG 200
First page of article [source]

Coding Response to a Case-Mix Measurement System Based on Multiple Diagnoses

HEALTH SERVICES RESEARCH, Issue 4p1 2004
Colin Preyra
Objective. To examine the hospital coding response to a payment model using a case-mix measurement system based on multiple diagnoses and the resulting impact on a hospital cost model. Data Sources. Financial, clinical, and supplementary data for all Ontario short stay hospitals from years 1997 to 2002. Study Design. Disaggregated trends in hospital case-mix growth are examined for five years following the adoption of an inpatient classification system making extensive use of combinations of secondary diagnoses. Hospital case mix is decomposed into base and complexity components. The longitudinal effects of coding variation on a standard hospital payment model are examined in terms of payment accuracy and impact on adjustment factors. Principal Findings. Introduction of the refined case-mix system provided incentives for hospitals to increase reporting of secondary diagnoses and resulted in growth in highest complexity cases that were not matched by increased resource use over time. Despite a pronounced coding response on the part of hospitals, the increase in measured complexity and case mix did not reduce the unexplained variation in hospital unit cost nor did it reduce the reliance on the teaching adjustment factor, a potential proxy for case mix. The main implication was changes in the size and distribution of predicted hospital operating costs. Conclusions. Jurisdictions introducing extensive refinements to standard diagnostic related group (DRG)-type payment systems should consider the effects of induced changes to hospital coding practices. Assessing model performance should include analysis of the robustness of classification systems to hospital-level variation in coding practices. Unanticipated coding effects imply that case-mix models hypothesized to perform well ex ante may not meet expectations ex post. [source]

Fallacies of High-Speed Hemodialysis

HEMODIALYSIS INTERNATIONAL, Issue 2 2003
Zbylut J. Twardowski
Chronic hemodialysis sessions, as developed in Seattle in the 1960s, were long procedures with minimal intra- and interdialytic symptoms. Financial and logistical pressures related to the overwhelming number of patients requiring hemodialysis created an incentive to shorten dialysis time to four, three, and even two hours per session in a thrice weekly schedule. This method spread rapidly, particularly in the United States, after the National Cooperative Dialysis Study suggested that time of dialysis is of minor importance as long as urea clearance multiplied by dialysis time and scaled to total body water (Kt/Vurea) equals 0.95,1.0. This number was later increased to 1.3, but the assumption remained unchanged that hemodialysis time is of minimal importance as long as it is compensated by increased urea clearance. Patients accepted short dialysis as a godsend, believing that it would not be detrimental to their well-being and longevity. However, Kt/Vurea measures only removal of low molecular weight substances and does not consider removal of larger molecules. Besides, it does not correlate with the other important function of hemodialysis, namely ultrafiltration. Whereas patients with substantial residual renal function may tolerate short dialysis sessions, the patients with little or no urine output tolerate short dialyses poorly because the ultrafiltration rate at the same interdialytic weight gain is inversely proportional to dialysis time. Rapid ultrafiltration is associated with cramps, nausea, vomiting, headache, fatigue, hypotensive episodes during dialysis, and hangover after dialysis; patients remain fluid overloaded with subsequent poor blood pressure control, left ventricular hypertrophy, diastolic dysfunction, and high cardiovascular mortality. Short, high-efficiency dialysis requires high blood flow, which increases demands on blood access. The classic wrist arteriovenous fistula, the access with the best longevity and lowest complication rates, provides "insufficient" blood flow and is replaced with an arteriovenous graft fistula or an intravenous catheter. Moreover, to achieve high blood flows, large diameter intravenous catheters are used; these fit veins "too tightly," so predispose the patient to central-vein thrombosis. Longer hemodialysis sessions (5,8 hrs, thrice weekly), as practiced in some centers, are associated with lower complication rates and better outcomes. Frequent dialyses (four or more sessions per week) provide better clinical results, but are associated with increased cost. It is my strong belief that a wide acceptance of longer, gentler dialysis sessions, even in a thrice weekly schedule, would improve overall hemodialysis results and decrease access complications, hospitalizations, and mortality, particularly in anuric patients. [source]

International Financial Rescues and Debtor-Country Moral Hazard,

INTERNATIONAL FINANCE, Issue 3 2004
Prasanna Gai
This paper examines whether recent international policy initiatives to facilitate financial rescues in emerging market countries have influenced debtors' incentives to access official sector resources. The paper highlights a country's systemic importance as a key characteristic that drives access to official sector finance. It estimates the effect of these financial rescue initiatives on IMF programme participation using a pooled probit model. The safety net permitting exceptional access is shown to have a greater marginal impact on official sector resource usage, the more systemically important the debtor country. The results can be interpreted as offering some support for the presence of debtor-country moral hazard. [source]

Special Call: E-Business and Electronic Financial and Business Reporting: Decline of the Age of Pacioli: The Impact of E-Business on Accounting and Accounting Education / Le déclin de l'ère Pacioli: l'incidence des affaires électroniques sur la comptabilité et la formation comptable

ACCOUNTING PERSPECTIVES, Issue 2 2004
GERALD TRITES
First page of article [source]

Rural Banking and Landless Labour Households: Institutional Reform and Rural Credit Markets in India

JOURNAL OF AGRARIAN CHANGE, Issue 4 2002
V.K. Ramachandran
Financial liberalization is a key component of programmes of orthodox structural adjustment. Financial reforms include, among other things, the removal of controls on interest rates and the abolition of programmes of directed credit. Here the effect of financial sector reform on rural banking and rural credit transactions in India is examined, with particular reference to landless labour households. First, the trends in selected indicators of rural banking at the national level over the last 30 years are reviewed. Secondly, longitudinal data for a village in Tamil Nadu are used to examine changes in patterns of indebtedness and credit transactions among landless labour households. It is argued that the exploitation of landless labour households in the credit market has intensified with the introduction of financial reforms. Lastly, the policy envisaged as an alternative to the formal credit sector in the countryside , the establishment of micro,credit projects , is examined critically. [source]

2009 Annual Index: A Supplement to the Africa Research Bulletin Economic, Financial and Technical Series

AFRICA RESEARCH BULLETIN: ECONOMIC, FINANCIAL AND TECHNICAL SERIES, Issue 2010
Article first published online: 3 AUG 2010
First page of article [source]

2008 Annual Index: A Supplement to Africa Research Bulletin Economic, Financial and Technical Series

AFRICA RESEARCH BULLETIN: ECONOMIC, FINANCIAL AND TECHNICAL SERIES, Issue 2009
Article first published online: 30 JUL 200
First page of article [source]

Pricing Double-Trigger Reinsurance Contracts: Financial Versus Actuarial Approach

JOURNAL OF RISK AND INSURANCE, Issue 4 2002
Helmut Gründl
This article discusses various approaches to pricing double-trigger reinsurance contracts,a new type of contract that has emerged in the area of ,,alternative risk transfer.'' The potential coverage from this type of contract depends on both underwriting and financial risk. We determine the reinsurer's reservation price if it wants to retain the firm's same safety level after signing the contract, in which case the contract typically must be backed by large amounts of equity capital (if equity capital is the risk management measure to be taken). We contrast the financial insurance pricing models with an actuarial pricing model that has as its objective no lessening of the reinsurance company's expected profits and no worsening of its safety level. We show that actuarial pricing can lead the reinsurer into a trap that results in the failure to close reinsurance contracts that would have a positive net present value because typical actuarial pricing dictates the type of risk management measure that must be taken, namely, the insertion of additional capital. Additionally, this type of pricing structure forces the reinsurance buyer to provide this safety capital as a debtholder. Finally, we discuss conditions leading to a market for double-trigger reinsurance contracts. [source]

Short Sellers and Financial Misconduct

THE JOURNAL OF FINANCE, Issue 5 2010
JONATHAN M. KARPOFF
ABSTRACT We examine whether short sellers detect firms that misrepresent their financial statements, and whether their trading conveys external costs or benefits to other investors. Abnormal short interest increases steadily in the 19 months before the misrepresentation is publicly revealed, particularly when the misconduct is severe. Short selling is associated with a faster time-to-discovery, and it dampens the share price inflation that occurs when firms misstate their earnings. These results indicate that short sellers anticipate the eventual discovery and severity of financial misconduct. They also convey external benefits, helping to uncover misconduct and keeping prices closer to fundamental values. [source]

RELATIONSHIPS AND UNDERWRITER SPREADS IN THE EUROBOND FLOATING RATE NOTE MARKET

THE JOURNAL OF FINANCIAL RESEARCH, Issue 2 2006
Michael G. Kollo
Abstract We examine the role of issuer-underwriter relationships in determining underwriter spreads for Eurobond floating rate notes from 1992 to 2002. Financial and nonfinancial firms with long-term relationships pay a higher underwriter spread. Financial issuers that switch underwriters receive a discounted spread that is invariant to the underwriter's reputation and quality of the issue. However, the discount is not evident for nonfinancial firms. For both financial and nonfinancial firms, spreads are higher for noninvestment grade issues and, within investment grade, increase as quality declines. We also find higher spreads when underwriting is syndicated, and a strong negative time trend consistent with increasing competitive pressures. [source]

Vulnerability in Research: Individuals with Limited Financial and/or Social Resources

THE JOURNAL OF LAW, MEDICINE & ETHICS, Issue 1 2009
Christine Grady
Individuals with limited resources are often presumed to be vulnerable in research. Concerns include the possibility of impaired decision making, susceptibility to undue inducement, and risk of exploitation. Although each of these concerns should be considered by investigators and IRBs, none justifies categorical exclusion of individuals with limited resources. [source]

The efficacy of glucosamine sulfate in osteoarthritis: Financial and nonfinancial conflict of interest

ARTHRITIS & RHEUMATISM, Issue 7 2007
Jean-Yves Reginster
First page of article [source]

The Sieve Model: An innovative process for identifying alternatives to custody evaluations

CONFLICT RESOLUTION QUARTERLY, Issue 3 2009
Robert B. Silver
This article reviews the development of the Sieve Model, conceived from dissatisfaction with adversarial processes that encouraged endless destructive fighting and depletion of financial and emotional family resources. Adversarial approaches discourage constructive problem solving and cooperation and are very hard on children. Rather than a piecemeal approach toward divorce, a systemic model was conceived. The Sieve Model is being implemented in the 20th Judicial Circuit of the State of Florida through differentiated case management, after a study revealed that protracted cases primarily involved disputes over children. Families are invited to use pertinent elements in an individualized fashion. Family law professionals are challenged to develop other solution-based efforts akin to mediation to assist families of divorce. The Sieve Model encourages participants to practice solving problems rather than creating them, decreasing divorce brutality and postjudgment conflicts. [source]

The prognosis of occupational contact dermatitis in 2004

CONTACT DERMATITIS, Issue 5-6 2004
Jennifer Cahill
The prognosis of occupational contact dermatitis (OCD) takes into account the extent of healing, effect on quality of life and employment, and financial costs for both the individual and the wider community. We reviewed 15 studies published between 1958 and 2002, reporting the complete clearance of dermatitis (range of 18,72%). 9 of the 15 studies reported a clearance rate of between 18 and 40%. Improvement was reported as an outcome in 3 studies between 1991 and 2002 (range of 70,84%). A number of common variables were identified as of possible influence. These include age, sex, atopy, patient knowledge, disease aetiology, duration of symptoms and job change; clinical, financial and social issues are also described. All of these factors need to be considered when managing a patient with OCD. Improved patient knowledge and early diagnosis may be associated with improved prognosis, whereas job change does not make a significant difference. Some patients will develop persistent post-occupational dermatitis, which has important implications for prognosis and workers' compensation. Only a small proportion of eligible patients receive workers' compensation, even though financially supported healing time soon after diagnosis may result in an improved prognosis. [source]

The Impact of Financial and Tax Reporting Incentives on Option Grants to Canadian CEOs,

Antecedents of Shareholder Activism in Target Firms: Evidence from a Multi-Country Study

CORPORATE GOVERNANCE, Issue 4 2010
William Q. Judge
ABSTRACT Manuscript Type: Empirical Research Question/Issue: This study seeks to better understand the antecedents of shareholder activism targeted at firms located in three common law countries (i.e., USA, UK, and Australia) and three civil law countries (Japan, Germany, and South Korea) during the 2003,07 time period. Research Findings/Insights: Our findings suggest that the antecedents of shareholder activism vary by the motivation of the activist. We demonstrate that activists target firms with two motives (a) to improve the financial performance, and (b) to improve the social performance of the firm. With respect to the target firm level antecedents, we find that firm size is unrelated to financial activism, but positively related to social activism; ownership concentration is negatively related to both financial and social activism; and prior profitability is negatively related to financial activism, but positively related to social activism. Further, these relationships in the case of financial activism are generally stronger in common law legal systems, whereas those in the case of social activism are generally stronger in environments with a greater level of income inequality. Theoretical/Academic Implications: Our findings suggest that future research should differentiate between the motivations of the activism event. Further, we find that while agency logic works well for financial activism, institutional theory provides stronger explanations for social activism. Overall, we demonstrate the complementary nature of these two theories in explaining shareholder activism. Practitioner/Policy Implications: We found that the "exposure" to shareholder activism varies by the motivation of the activist, and the nature of the firm and its national context. An understanding of these issues would help firms develop proper response strategies to activism events. [source]

Integrated Environmental and Financial Performance Metrics for Investment Analysis and Portfolio Management

CORPORATE GOVERNANCE, Issue 3 2007
Simon Thomas
This paper introduces a new measure, based on a study by Trucost and Dr Robert Repetto, combining external environmental costs with established measures of economic value added, and demonstrates how this measure can be incorporated into financial analysis. We propose that external environmental costs are relevant to all investors: universal investors are concerned about the scale of external costs whether or not regulations to internalise them are likely; mainstream investors need to understand external costs as an indication of future regulatory compliance costs; and SRI investors need to evaluate companies on both financial and social performance. The paper illustrates our new measure with data from US electric utilities and illustrates how the environmental exposures of different fund managers and portfolios can be compared. With such measures fund managers can understand and control portfolio-wide environmental risks, demonstrate their environmental credentials quantitatively and objectively and compete for the increasing number of investment mandates that have an environmental component. [source]

Corporate Governance and Intellectual Capital: some conceptualisations

CORPORATE GOVERNANCE, Issue 4 2001
James Keenan
One of the persistent problems facing corporate governance is the increasing shift toward knowledge-intensive organisations. This article focuses on the fiduciary responsibility of corporate governance for creating, developing, and leveraging the intellectual capital existing and embedded in the people, structures, and processes of the firm. Research and practice, traditionally concerned with governance responsibility for financial and physical capitals, has not much focused on the relations between governance and intellectual capital. Here, the authors' intellectual capital paradigm is overlayered on a recent taxonomy of systems and features of corporate governance. The result is an explication of the role and characteristics of corporate governance in relation to the intellectual capital of the firm. [source]

Corporate social responsibility in Dutch industry

CORPORATE SOCIAL RESPONSIBILITY AND ENVIRONMENTAL MANAGEMENT, Issue 4 2004
Jacqueline Cramer
This article addresses the experiences gained by 19 Dutch companies with corporate social responsibility (CSR). These companies joined the programme ,From financial to sustainable profit' of the National Initiative for Sustainable Development (NIDO), which ran from May 2000 until December 2002. They focused on two issues: assessing the added value of corporate social responsibility and implementing a structured approach. The Dutch experiment showed that the companies involved were able to specify the added value of CSR by elaborating the economic performance and/or parenting advantage. Unfortunately, a third type of value creation, viz. through protecting the company's reputation, was not elaborated. Moreover, the experiment revealed that among the 19 participating companies experiences were limited in implementing a structured approach towards CSR. By exchanging experiences the companies learned from each other. Such interactive learning turned out to be a helpful support, complementary to the general CSR literature on guidelines, indicators and best practice guides. Although this literature is rapidly growing, knowledge is still lacking in structuring CSR. Copyright © 2004 John Wiley & Sons, Ltd and ERP Environment. [source]

From financial to sustainable profit

CORPORATE SOCIAL RESPONSIBILITY AND ENVIRONMENTAL MANAGEMENT, Issue 2 2002
Prof. Jacqueline Cramer
This article explains why sustainable business has caught the spotlight at this particular time. Main drivers are the shift in power relationships between states, firms and households, the emergence of civil regulation and the communication through networks. The implication of this trend towards sustainable business is that firms will consciously need to focus on creating value not only in financial terms, but also in ecological and social terms. The challenge facing the business sector is how to set about meeting these expectations. Firms will need to change not only in themselves, but also in the way they interact with their environment. Copyright © 2002 John Wiley & Sons, Ltd. and ERP Environment [source]

Functional Management Competence and Growth of Young Technology-Based Firms

CREATIVITY AND INNOVATION MANAGEMENT, Issue 3 2008
Sören Salomo
Acknowledging an increased research interest into the success factors for young technology-based firms in the last decade, the present study serves two main purposes. First, we aim at developing a comprehensive concept of functional management competence in young technology-based firms. Functional management competence covers the understanding of and proficiency in managing specific functional tasks (Katz, 1974). As we focus on young technology-based firms, it is suggested that marketing, financial and technology management tasks are at the core of functional management competence. Second, we aim at delineating and validating an appropriate measurement model for functional management competence. In order to test the model's nomological validity, we investigate the impact of functional management competence on firm growth. Therefore, building on established firm development approaches, we propose a phase model for the development of young technology-based firms. Our study builds upon data from 212 young technology-based firms in the field of microtechnology, nanotechnology, electronics, optics and lasers. We use formative measurement models to establish valid and reliable constructs and a path model based on partial least squares modelling to investigate the performance effects. The results suggest that functional management competences generally are significant drivers of firm development speed. In particular, technology and marketing management competences are shown to impact development speed. While technology management competence is positively driving development speed, the marketing management competence impact on speed is mediated by competitive advantage of the new products developed by young technology-based firms. Financial management competence has no significant link to firm development speed. [source]

Walls of secrecy and silence

CRIMINOLOGY AND PUBLIC POLICY, Issue 3 2010
The Madoff case, cartels in the construction industry
Research Summary Most analysts of the causes of the contemporary credit crunch have concluded that the supervising agencies failed in their duties. The same is true for studies of several major fraud scandals, including the Madoff affair and the Dutch construction fraud. The remedy seems immediately obvious: more and better regulation and supervision. However, this line of reasoning seems somewhat simplistic by ignoring the question of how illegal activities can remain hidden for many years from supervising agencies, victims, and bystanders. This research article argues that the problem also lies in the successful concealment of illegal activities by the perpetrators and in the presence of silence in their social environment. Policy Implications The cases analyzed in this article suggest that financial misconduct also could be controlled by breaking the conspiracies of silence. The strengthening of supervision is unlikely to be effective without simultaneous efforts to encourage people to speak out and to give them incentives to want to know and to tell the truth. [source]

Due Diligence and "Reasonable Man," Offshore

CULTURAL ANTHROPOLOGY, Issue 4 2005
Bill Maurer
In the wake of an international crackdown against preferential tax regimes, Caribbean tax havens and other jurisdictions have adopted "due diligence" procedures to manage financial and reputational risk. Due diligence relies on qualitative forms of evaluation and defers grounded and definitive knowledge claims through continuous peer review. In doing so, it mirrors certain forms of ethnographic practice at a number of levels of scale. This article tracks the shifts in financial regulation from crime to harm and from certainty to scrutiny and reflects on their implications for ethnography,as a limited and open-ended process of evaluation warranted by qualitative forms of judgment. It seeks to complicate our picture of contemporary capitalisms by drawing attention to the nonquantifiable and the ethical that lie "inside" them. Where conventional forms of ethnographic critique might look to expose the political or economic interests behind actions, symbols, or social relationships, this article has a more modest goal: to try to understand the similarity of form between due diligence and anthropology. [source]

Supply Chain Strategy, Product Characteristics, and Performance Impact: Evidence from Chinese Manufacturers,

DECISION SCIENCES, Issue 4 2009
Yinan Qi
ABSTRACT Supply chain management has become one of the most popular approaches to enhance the global competitiveness of business corporations today. Firms must have clear strategic thinking in order to effectively organize such complicated activities, resources, communications, and processes. An emerging body of literature offers a framework that identifies three kinds of supply chain strategies: lean strategy, agile strategy, and lean/agile strategy based on in-depth case studies. Extant research also suggests that supply chain strategies must be matched with product characteristics in order for firms to achieve better performance. This article investigates supply chain strategies and empirically tests the supply chain strategy model that posits lean, agile, and lean/agile approaches using data collected from 604 manufacturing firms in China. Cluster analyses of the data indicate that Chinese firms are adopting a variation of lean, agile, and lean/agile supply chain strategies identified in the western literature. However, the data reveal that some firms have a traditional strategy that does not emphasize either lean or agile principles. These firms perform worse than firms that have a strategy focused on lean, agile, or lean/agile supply chain. The strategies are examined with respect to product characteristics and financial and operational performance. The article makes significant contributions to the supply chain management literature by examining the supply chain strategies used by Chinese firms. In addition, this work empirically tests the applicability of supply chain strategy models that have not been rigorously tested empirically or in the fast-growing Chinese economy. [source]