Leader characteristics and styles in the SMEs of the People's Republic of China during the global financial crisis

This empirical study explores successful views and characteristics of leaders and employees in the SMEs of the People's Republic of China during the global financial crisis.

Seasonal intercomparison of observational rainfall datasets over India during the southwest monsoon season

The Indian monsoon is an important component of Earth's climate system, accurate forecasting of its mean rainfall being essential for regional food and water security. Accurate measurement of the rainfall is essential for various water-related applications, the evaluation of numerical models and detection and attribution of trends, but a variety of different gridded rainfall datasets are available for these purposes. In this study, six gridded rainfall datasets are compared against the India Meteorological Department (IMD) gridded rainfall dataset, chosen as the most representative of the observed system due to its high gauge density. The datasets comprise those based solely on rain gauge observations and those merging rain gauge data with satellite-derived products. Various skill scores and subjective comparisons are carried out for the Indian region during the south-west monsoon season (June to September). Relative biases and skill metrics are documented at all-India and sub-regional scales. In the gauge-based (land-only) category, Asian Precipitation-Highly-Resolved Observational Data Integration Towards Evaluation of water resources (APHRODITE) and Global Precipitation Climatology Center (GPCC) datasets perform better relative to the others in terms of a variety of skill metrics. In the merged category, the Global Precipitation Climatology Project (GPCP) dataset is shown to perform better than the Climate Prediction Center Merged Analysis of Precipitation (CMAP) for the Indian monsoon in terms of various metrics, when compared with the IMD gridded data. Most of the datasets have difficulty in representing rainfall over orographic regions including the Western Ghats mountains, in north-east India and the Himalayan foothills. The wide range of skill scores seen among the datasets and even the change of sign of bias found in some years are causes of concern. This uncertainty between datasets is largest in north-east India. These results will help those studying the Indian monsoon region to select an appropriate dataset depending on their application and focus of research.

Urban microclimates and urban heat island in Chongqing, China

Chongqing is the largest directly-controlled municipality in China, which is now undergoing a rapid urbanization. The urbanization rate increased from 35.6% in 2000 to 48.3% in 2007, and it is estimated to reach at least 70% by 2020. The question remains open: What are the consequences of such rapid urbanization in Chongqing in terms of urban microclimate? Furthermore, Chongqing is located within the Three Gorges Reservoir (TGR) region and the upper Yangtze River, where the Three Gorges Reservoir (TGR) project started in 1993 and was completed in 2010. As one of the biggest construction projects in the world with a rising water level of 175m and water storage capacity of about 39.3 billion m3, it would be interesting to investigate how such a gigantic project impacts the surrounding micro-environment, especially in Chongqing. Different research approaches are adopted in the study. Our literature review indicates present studies on the urban climate in Chongqing are mainly confined within the historical trend analysis of several weather stations operated by the Chongqing government, little is known about the spatial distribution of urban air temperature and how the local land cover influences the air temperature, especially when there are rivers running through the Chongqing urban area. To contribute to the present knowledge, a series of field measurement campaigns and numerical simulations were carried out. Two complementary types of field measurements are included: fixed weather stations and mobile transverse measurement. Numerical simulations using a house-developed program are able to predict the urban air temperature in Chongqing.

Urban integrated meteorological observations: practice and experience in Shanghai, China

Observations of atmospheric conditions and processes in citiesare fundamental to understanding the interactions between the urban surface and weather/climate, improving the performance of urban weather, air quality and climate models, and providing key information for city end-users (e.g. decision-makers, stakeholders, public). In this paper, Shanghai's urban integrated meteorological observation network (SUIMON) and some examples of intended applications are introduced. Its characteristics include being: multi- purpose (e.g. forecast, research, service), multi-function (high impact weather, city climate, special end-users), multi-scale (e.g. macro/meso-, urban-, neighborhood, street canyon), multi-variable (e.g. thermal, dynamic, chemical, bio-meteorological, ecological), and multi- platform (e.g. radar, wind profiler, ground-based, satellite based, in-situ observation/ sampling). Underlying SUIMON is a data management system to facilitate exchange of data and information. The overall aim of the network is to improve coordination strategies and instruments; to identify data gaps based on science and user driven requirements; and to intelligently combine observations from a variety of platforms by using a data assimilation system that is tuned to produce the best estimate of the current state of the urban atmosphere.

Asset recombination in international partnerships as a source of improved innovation capabilities in China

Purpose This paper examines how multinational enterprises (MNEs) and local partners, including suppliers, customers, and competitors in China, improve their innovation capabilities through collaboration. We analyse this collaboration as a three-way interaction between the ownership-specific (O) advantages or firm-specific assets (FSAs) of the MNE subsidiary, the FSAs of the local partner, and the location-specific assets of the host location. Design/methodology/approach Our propositions are examined through a survey of 320 firms, supplemented with 30 in-depth case studies, based in mainland China. Findings We find that the recombination of asset-type (Oa) FSAs and transaction-type (Ot) FSAs from both partners leads to new innovation-related ownership advantages, or ‘recombinant advantages’. Ot FSAs, in the form of access to local suppliers, customers or government networks are particularly important for reducing the liability of foreignness for MNEs. Originality/value The study reveals important patterns of reciprocal transfer, sharing, and integration for different asset categories (tacit, codified) and different forms of FSA and explicitly links these to different innovation performance outcomes. The paper reports on these findings, making an empirical contribution in an important context (China-based partnerships). We also contribute to conceptual developments, connecting various kinds of FSA, tacit and codifiable assets and ‘recombinant advantages’. Limited conceptual, methodological, and empirical contributions are made in linking asset integration with (measurable) innovation performance outcomes in international partnerships.

State capitalism and social responsibility in China's banking industry

China’s financial system has experienced a series of major reforms in recent years. Efforts have been made towards introducing the shareholding system in state-owned commercial banks, restructuring of securities firms, re-organising equity of joint venture insurance companies, further improving the corporate governance structure, managing financial risks and ultimately establishing a system to protect investors (Xinhua, 2010). Financial product innovation, with the further opening up of financial markets and the development of the insurance and bond market, has increased liquidity as well as reduced financial risks. The U.S. subprime crisis indicated the benefit of financial innovations for the economy, but without proper control, they may lead to unexpected consequences. Kirkpatrick (2009) argues that failures and weaknesses in corporate governance arrangements and insufficient accounting standards and regulatory requirements attributed to the financial crisis. Similar to the financial crises of the last decade, the global financial crisis which sparked in 2008, surfaced a variety of significant corporate governance failures: the dysfunction of market mechanisms, the lack of transparency and accountability, misaligned compensation arrangements and the late response of government, all which encouraged management short-termism, poor risk management, as well as some fraudulent schemes. The unique characteristics of the Chinese banking system are an interesting point for studying post-crisis corporate governance reform. Considering that China modelled its governance system on the Anglo-American system, this paper examines the impact of the financial crisis on corporate governance reform in developed economies, and particularly, China’s reform of its financial sector. The paper further analyses the Chinese government’s role in bank supervision and risk management. In this regard, the paper contributes to the corporate governance literature within the Chinese context by providing insights into the contributing factors to the corporate governance failure that led to the global financial crisis. It also provides policy recommendations for China’s policy makers to seriously consider. The results suggest a need for the re-examination of corporate governance adequacy and the institutionalisation of business ethics. The paper’s next section provides a review of China’s financial system with reference to the financial crisis, followed by a critical evaluation of a capitalistic system and a review of Anglo-American and Continental European models. It then analyses the need for a new corporate governance model in China by considering the bank failures in developed economies and the potential risks and inefficiencies in a current State controlled system. The paper closes by reflecting the need for Chinese policy makers to continually develop, adapt and rewrite corporate governance practices capable of meeting the new challenge, and to pay attention to business ethics, an issue which goes beyond regulation.

The post-financial crisis challenges for corporate governance and banking reform in China

The purpose of this paper is to review the impact of the global financial crisis on banking reform in China. The significant doubt concerning the efficiencies of Anglo-American model of corporate governance has raised a critical political question amongst scholars and practitioners as to whether China should continue to follow the U.K.-U.S. path in relation to financial reform. This conceptual paper provides an insightful review of the corporate governance literature and regulatory reports. After examining the fundamental limitations of the laissez-faire philosophy that underpins the neo-liberal model of capitalism, which promotes greater liberalization and less control, the paper considers the risks in opening China’s financial markets and relaxing monetary and fiscal policies. A critique of shareholder-capitalism is outlined in relation to the German’s “social market economy” styled capitalism. Through such analysis the paper explores a number of implications for China to consider in terms of developing a new and sustainable corporate governance model applicable to the Chinese context.

An integrated study of urban microclimates in Chongqing, China: historical weather data, transverse measurement and numerical simulation

Chongqing is the largest central-government-controlled municipality in China, which is now under going a rapid urbanization. The question remains open: What are the consequences of such rapid urbanization in Chongqing in terms of urban microclimates? An integrated study comprising three different research approaches is adopted in the present paper. By analyzing the observed annual climate data, an average rising trend of 0.10◦C/decade was found for the annual mean temperature from 1951 to 2010 in Chongqing,indicating a higher degree of urban warming in Chongqing. In addition, two complementary types of field measurements were conducted: fixed weather stations and mobile transverse measurement. Numerical simulations using a house-developed program are able to predict the urban air temperature in Chongqing.The urban heat island intensity in Chongqing is stronger in summer compared to autumn and winter.The maximum urban heat island intensity occurs at around midnight, and can be as high as 2.5◦C. In the day time, an urban cool island exists. Local greenery has a great impact on the local thermal environment.Urban green spaces can reduce urban air temperature and therefore mitigate the urban heat island. The cooling effect of an urban river is limited in Chongqing, as both sides of the river are the most developed areas, but the relative humidity is much higher near the river compared with the places far from it.

Evolving corporate social responsibility in China

With a unique cultural background and fast economic development, China’s adoption of corporate social responsibility (CSR) has become the center of discussion worldwide, and its successful implementation will have great significance for global sustainability. This paper aims to explore how CSR has given way to economic growth in China since the start of economic transition and its cultural, historical and political background, and how this has affected or been affected by the economic performance of firms. Thus, the recent calls for China to adopt CSR in its industries follow a period where the country arguably had one of the strongest implementations of CSR approaches in the world. This transition is considered in the context of a case study of a Chinese state-owned enterprise (SOE) and a group of small private firms in the same industrial sector in Zhengzhou City, Henan Province over a time span of eight years. While the CSR of the SOE has been steadily decreasing along with the change of ownership structure, its economic performance did not improve as expected. On the other hand, with a steady improvement in economic performance, the small private firms are showing a great reluctance to engage in CSR. The results indicate that implementation of CSR in China needs both the manager’s ethical awareness and the change of institutional framework. The results also raise the question as to whether CSR is a universal concept with a desired means of implementation across the developed and developing world.

Nodal variations and long-term changes in the main tides on the coasts of China

The long-term changes in the main tidal constituents (O1, K1, M2, N2, and S2) along the coasts of China and in adjacent seas are investigated based on 17 tide-gauge records covering the period 1954–2012. The observed 18.61 year nodal modulations of the diurnal constituents O1 and K1 are in agreement with the equilibrium tidal theory, except in the South China Sea. The observed modulations of the M2 and N2 amplitudes are smaller than theoretically predicted at the northern stations and larger at the southern stations. The discrepancies between the theoretically predicted nodal variations and the observations are discussed. The 8.85 year perigean cycle is identifiable in the N2 parameters at most stations, except those in the South China Sea. The radiational component of S2 contributes on average 16% of the observed S2 except in the Gulf of Tonkin, on the south coast, where it accounts for up to 65%. We confirmed the existence of nodal modulation in S2, which is stronger on the north coast. The semidiurnal tidal parameters show significant secular trends in the Bohai and Yellow Seas, on the north coast, and in the Taiwan Strait. The largest increase is found for M2 for which the amplitude increases by 4–7 mm/yr in the Yellow Sea. The potential causes for the linear trends in tidal constants are discussed.

Sea level extremes at the coasts of China

Hourly sea level records from 1954 to 2012 at 20 tide gauges at and adjacent to the Chinese coasts are used to analyze extremes in sea level and in tidal residual. Tides and tropical cyclones determine the spatial distribution of sea level maxima. Tidal residual maxima are predominantly determined by tropical cyclones. The 50 year return level is found to be sensitive to the number of extreme events used in the estimation. This is caused by the small number of tropical cyclone events happening each year which lead to other local storm events included thus significantly affecting the estimates. Significant increase in sea level extremes is found with trends in the range between 2.0 and 14.1 mm yr−1. The trends are primarily driven by changes in median sea level but also linked with increases in tidal amplitudes at three stations. Tropical cyclones cause significant interannual variations in the extremes. The interannual variability in the sea level extremes is also influenced by the changes in median sea level at the north and by the 18.6 year nodal cycle at the South China Sea. Neither of PDO and ENSO is found to be an indicator of changes in the size of extremes, but ENSO appears to regulate the number of tropical cyclones that reach the Chinese coasts. Global mean atmospheric temperature appears to be a good descriptor of the interannual variability of tidal residual extremes induced by tropical cyclones but the trend in global temperature is inconsistent with the lack of trend in the residuals.

Wave spectra assimilation in typhoon wave modeling for the East China Sea

The East China Sea is a hot area for typhoon waves to occur. A wave spectra assimilation model has been developed to predict the typhoon wave more accurately and operationally. This is the first time where wave data from Taiwan have been used to predict typhoon wave along the mainland China coast. The two-dimensional spectra observed in Taiwan northeast coast modify the wave field output by SWAN model through the technology of optimal interpolation (OI) scheme. The wind field correction is not involved as it contributes less than a quarter of the correction achieved by assimilation of waves. The initialization issue for assimilation is discussed. A linear evolution law for noise in the wave field is derived from the SWAN governing equations. A two-dimensional digital low-pass filter is used to obtain the initialized wave fields. The data assimilation model is optimized during the typhoon Sinlaku. During typhoons Krosa and Morakot, data assimilation significantly improves the low frequency wave energy and wave propagation direction in Taiwan coast. For the far-field region, the assimilation model shows an expected ability of improving typhoon wave forecast as well, as data assimilation enhances the low frequency wave energy. The proportion of positive assimilation indexes is over 81% for all the periods of comparison. The paper also finds that the impact of data assimilation on the far-field region depends on the state of the typhoon developing and the swell propagation direction.