Relational dimensions of corporate governance in translation: networked governance in China and India

The effectiveness of corporate governance mechanisms has been a subject of academic research for many decades. Although the large majority of corporate governance studies prior to mid 1990s were based on data from developed market economies such as the U.S., U.K. and Japan, in recent years researchers have begun examining corporate governance in transition economies. A comparison of China and India offers a unique environment for analyzing the effectiveness of corporate governance. First, both countries state-owned enterprise (SOE) reform strategies hinges on the Modern Enterprise System characterized by the separation of ownership and control. Ownership of an SOE’s assets is distributed among the government, institutional investors, managers, employees, and private investors. Effective control rights are assigned to management, which generally has a very small, or even nonexistent ownership stake. This distinctive shareholding structure creates conflict of interest not only between management (insiders) and outside investors but also between large shareholders and minority investors. Moreover, because both governments desire to retain some control—in part through partial retained ownership of commercialized SOEs, further conflicts arise between politicians and firms. Second, directors in publicly listed firms in both countries are predominantly drawn from institutions with significant non-market objectives: the government and other state enterprises, particularly in China, and extended families, particularly in India. As a result, the effectiveness of internal governance mechanisms, such as the number of independent directors on the board and the number of independent supervisors on the supervisory committee, are likely to be quiet limited, although this has yet to be fully evaluated. Third, because of the political nature of the privatization process itself, typical external governance mechanisms, such as debt (in conjunction with appropriate bankruptcy procedures), takeover threats, legal protection of investors, product market competition, etc., have not been effective. Bank loans have traditionally been viewed as grants from the state designed to bail out failing firms. State-owned banks retain monopoly or quasi-monopoly positions in the banking sector and profit is not their overriding objective. If political favor is deemed appropriate, subsidized loans, rescheduling of overdue debt or even outright transfer of funds can be arranged with SOEs (soft budget constraints). In addition, a market for private, non-bank debt is limited in India and has yet to be established China. There is no active merger or takeover activity in Chinese stock markets to discipline management. Information available in the capital markets is insufficient to keep at arm’s length of the corporate decisions. In light of the above peculiarities, China and India share many of the typical institutional characteristics as a transition economy, including poor legal protection of creditors and investors, the absence of an effective takeover market, an underdeveloped capital market, a relative inefficient banking system and significant interference of politicians in firm management. Su (2005) finds that the extent of political interference, managerial entrenchment and institutional control can help explain corporate dividend policies and post-IPO financing choices in this situation. Allen et al. (2005) demonstrate that standard corporate governance mechanisms are weak and ineffective for publicly listed firms while alternative governance mechanisms based on reputation and relationship have been remarkably effective in the private sector. Because the peculiarities are significant in this context, the differences in the political-economies of the two countries are likely to be evident in such relational terms. In this paper we explore the peculiarities of corporate governance in this transitional environment through a systematic examination of certain aspects of these reputational and relationship dimensions. Utilising the methods of social network analysis we identify the inter-organisational relationships at board level formed by equity holdings and by shared directors. Using data drawn from the Orbis database we map these relations among the 3700 largest firms in India and China respectively and identify the roles played in these relational networks by the particularly characteristic institutions in each case. We find greatly different social network structures in each case with some support in these relational dimensions for their distinctive features of governance. Further, the social network metrics allow us to considerably refine proxies for political interference, managerial entrenchment and institutional control used in earlier econometric analysis.

Student Experience of E-Learning (SEEL)

The Student Experience of E-Learning project (SEEL) was an institutional response to the university’s HEA/JISC Benchmarking exercise (Ryan and Kandler, 2007). The study had a social constructivist approach which recognised the importance of listening to the student voice (JISC 2007) within the University of Greenwich context, to interpret the student experience of e-learning. Nearly 1000 students responded to an online survey on their approaches to, and their use of, learning technology. The quantitative and qualitative questions used included identifying study patterns, using specific online tools, within the context of learning and beyond, and student’s attitudes towards using e-learning in their studies. Initially, individual responses to questions were analysed in depth, giving a general indication of the student experience. Further depth was applied through a filtering mechanism, beginning with a cross-slicing of individual student responses to produce cameos. Audio logs and individual interviews were drawn from these cameos. Analysis of the cameos is in progress but has already revealed some unexpected results. There was a mismatch between students’ expectations of the university’s use of technology and their experiences and awareness of its possible use in other contexts. Students recognised the importance of social interaction as a vehicle for learning (Vygotsky 1978, Bruner 2006) but expressed polarised views on the use of social networking sites such as Facebook for e-learning. Their experiences in commercial contexts led them to see the university VLE as unimaginative and the tutors’ use of it as lacking in vision. Whereas analysis of the individual questions provided a limited picture, the cameos gave a truer reflection of the students lived experiences and identified a gulf between the university’s provision and the students’ expectation of e-learning and their customary use of technology. However it is recognised that the very nature of an online survey necessarily excludes students who chose not to engage, either through lack of skills or through disillusionment and this would constitute a separate area for study.

The introduction of social adaptation within evacuation modelling

In recent history, a number of tragic events have borne a consistent message; the social structures that existed prior to and during the evacuation significantly affected the decisions made and the actions adopted by the evacuating population in response to the emergency. This type of influence over behaviour has long been neglected in the modelling community. This paper is an attempt to introduce some of these considerations into evacuation models and to demonstrate their impact. To represent this type of behaviour within evacuation models a mechanism to represent the membership and position within social hierarchies is established. In addition, individuals within the social groupings are given the capacity to communicate relevant pieces of data such as the need to evacuate—impacting the response time—and the location of viable exits—impacting route selection. Furthermore, the perception and response to this information is also affected by the social circumstances in which individuals find themselves. Copyright © 2005 John Wiley & Sons, Ltd.

On "fitting in": the effects of social context and gender on big 5 trait expression.

[This is a summary of an Oral Presentation] The study explored the expression of Big 5 personality traits in three different social contexts (with parents friends and work colleagues) to test the prediction that personality is socially variable due to the motivation to ‘fit in’. The questionnaire-based method produced results that support this hypothesis; all Big 5 traits were significantly variable across contexts with Conscientiousness the least variable and Extraversion possessiveness. The results indicated that females reported being more distressed than males and older respondents reported being less distressed then younger respondents. The findings from this study contribute to the literature on online infidelity in terms of understanding differences in the way it is perceived.

A case study of the effectiveness of the electronic survey as a research tool for measuring students' experience of e-learning

This paper uses a case study approach to consider the effectiveness of the electronic survey as a research tool to measure the learner voice about experiences of e-learning in a particular institutional case. Two large scale electronic surveys were carried out for the Student Experience of e-Learning (SEEL) project at the University of Greenwich in 2007 and 2008, funded by the UK Higher Education Academy (HEA). The paper considers this case to argue that, although the electronic web-based survey is a convenient method of quantitative and qualitative data collection, enabling higher education institutions swiftly to capture multiple views of large numbers of students regarding experiences of e-learning, for more robust analysis, electronic survey research is best combined with other methods of in-depth qualitative data collection. The advantages and disadvantages of the electronic survey as a research method to capture student experiences of e-learning are the focus of analysis in this short paper, which reports an overview of large-scale data collection (1,000+ responses) from two electronic surveys administered to students using surveymonkey as a web-based survey tool as part of the SEEL research project. Advantages of web-based electronic survey design include flexibility, ease of design, high degree of designer control, convenience, low costs, data security, ease of access and guarantee of confidentiality combined with researcher ability to identify users through email addresses. Disadvantages of electronic survey design include the self-selecting nature of web-enabled respondent participation, which tends to skew data collection towards students who respond effectively to email invitations. The relative inadequacy of electronic surveys to capture in-depth qualitative views of students is discussed with regard to prior recommendations from the JISC-funded Learners' Experiences of e-Learning (LEX) project, in consideration of the results from SEEL in-depth interviews with students. The paper considers the literature on web-based and email electronic survey design, summing up the relative advantages and disadvantages of electronic surveys as a tool for student experience of e-learning research. The paper concludes with a range of recommendations for designing future electronic surveys to capture the learner voice on e-learning, contributing to evidence-based learning technology research development in higher education.

Exploration of the student experience of e-learning: beginning to bridge the learning divide

Introduction This proposal aims, through debate within symposium to explore the student experience of e-learning. The team facilitating the discussion will draw upon their experience of an HEA funded pathfinder project, the main aim of which was to collect learner stories about their experience of using technology in their everyday learning activities at the University of Greenwich across a range of programmes, levels, locations and student groups. Method The project design responded to the growing body of student voice literature and then utilised and built upon the JISC-funded studies that focussed on understanding the learner perspectives on the role of technology in learning, namely: • the LEX study which investigated a broad spectrum of technology use by eliciting rich data about learners’ feelings, beliefs and intentions towards e-learning (Creanor et al, 2006); • the LXP studies which explored disciplinary differences in uses of technology by university students through a variety of methodologies (Conole et al, 2006). Results The symposium will be organised as a round table discussion that will be structured into three sections: • Designing an online survey tool, and the results of our survey. • Exploring student stories. • What can learned from the project and taking the findings back to enhance learning. To stimulate discussion each section will start by asking the participants to discuss and debate a particular question, this will be followed by an interactive presentation by the respective member of the project team who will share the findings of the project and invite contributions to the resulting discussion from personal perspectives. The questions are: • What is effective learning within a context of digital technology? • What are the myths and truths about the identity of today's learners? • What practical changes need to happen in order to see real change? Conclusion The final section of the symposium will invite contributions from the participants in order to collate the views and perspectives of all the participants in order to focus the discussion on the following: • The issues that have arisen as a result of the round table debates. • New speculative approaches to enhancing the student experience. • A controversial stand to the future of Higher Education teaching and learning and the role and integration of technology within that education. The symposium will provide an opportunity to explore the predictive value of Student Experience of E-Learning Laboratory (SEEL) project.

The Students' Experience of E-learning

The Student Experience of E-learning Laboratory (SEEL) is a three year initiative that seeks to develop the University’s capacity to discover more about the impact of e-learning on our students in an attempt to narrow the gap between the digital natives and immigrants (Prensky, 2001). In its first year the project team have gathered data on the student experience of using technology in support of their learning from across the University. Initial analysis suggests we should listen more carefully to our students and may need to review some of our current practices in relation to e-learning and explore some new ways of working. In this workshop we will outline some of the findings and consider implications for our future practice.