Oil firm's demise lays China's crony capitalism bare

2018 ◽  
Keyword(s):  
Financial Risks ◽  
Private Companies ◽  
Content Type ◽  
Energy Company ◽  
Recent Deal ◽  
Apparent Loss ◽  
Crony Capitalism ◽  
Illegal Activities ◽  
The Military ◽  
China’S Economy

Subject The downfall of China CEFC Energy Company. Significance Chinese officials confirmed in late March that Chairman Ye Jianming of the China CEFC Energy Company is under investigation on suspicion of unspecified illegal activities. The energy and finance conglomerate, believed to be the world’s 222nd-largest company by revenue in 2017, has been on a worldwide investment spree. Its most recent deal was to acquire a 9.1-billion-dollar stake in Russia’s state-owned oil firm, Rosneft. However, with the apparent loss of political backing in China, the future of another of China’s largest private companies is in doubt. Impacts Ye will almost certainly be found guilty and receive a jail sentence. Some of the company’s backers in the Communist Party and the military will face investigation. China's government will seek an orderly reorganisation or breakup of the company, potentially involving a substantial bailout. Financial risks in China's economy may be revealed as further details of CEFC’s operations emerge.

Guinea-Bissau’s political turmoil will linger

2020 ◽  
Keyword(s):  
Constitutional Amendment ◽  
Political Crisis ◽  
Content Type ◽  
Election Result ◽  
Apparent Loss ◽  
Defence Spending ◽  
Military Support ◽  
Regional Leaders ◽  
Political Turmoil ◽  
The Military

Significance The country's political crisis has worsened over the past week, with rival administrations claiming power and the military appearing to throw its weight behind Embalo, a former general who was ‘inaugurated’ despite the Supreme Court failing to certify December’s election result. The Economic Community of West African States (ECOWAS), which previously accepted Embalo’s victory, has urged the military to refrain from involvement in the crisis and allow the court processes to be completed. Impacts Pereira’s apparent loss, coupled with Embalo's party's growing popularity, could see the PAIGC’s historical dominance in jeopardy. Should his victory be certified, Embalo will likely look to increase defence spending to ensure continued military support. Embalo will probably try to organise another inauguration ceremony this year, with regional leaders in attendance, to legitimise his rule. Pereira and the PAIGC will resist any constitutional amendment that would alter the largest party’s right to appoint the prime minister.

China will slowly move to target risks instead of GDP

2017 ◽  
Keyword(s):  
Central Bank ◽  
Financial Risks ◽  
Xi Jinping ◽  
Domestic Activity ◽  
Content Type ◽  
Producer Prices ◽  
Central Bank Governor ◽  
China’S Economy

Significance China's economy grew by 6.9% year-on-year in the April-June quarter of 2017, in line with the 6.5-7.0% target. Marked growth in exports drove GDP expansion and combined with higher producer prices and profitability to encourage domestic activity. At the Financial Work Conference on July 14-15, President Xi Jinping committed to tackling the financial risks. Impacts Above-target growth creates scope for more measures to reduce financial risks. Higher profitability, helped by rising factory-gate prices, should help to reduce the reliance on debt. China's central bank governor, an outspoken reformer, is expected to announce his retirement soon; his successor's role will be crucial.

scholarly journals Unpacking the package

2015 ◽  
Vol 12 (4) ◽  
pp. 346-376 ◽  
Author(s):  
Mark Evans ◽  
Basil Phillip Tucker
Keyword(s):  
Organisational Change ◽  
Clean Energy ◽  
Management Control ◽  
Theory And Practice ◽  
Structured Interviews ◽  
Informal Control ◽  
Content Type ◽  
Energy Company ◽  
Management Controls ◽  
Control Package

Purpose – The purpose of this paper is to explore the ways in which both formal and informal control, operating as a package, are implicated in responding to organisational change arising from the introduction of the Australian Federal Government’s Clean Energy Act (2011). Design/methodology/approach – This investigation is based on a review of archival data, and semi-structured interviews conducted with 15 staff at different hierarchical levels within an Australian renewable energy company. Findings – Although formal management control systems and informal control both played important roles in the organisation’s reorientation to organisational change, it was the latter form of control that predominated over the former. The influence of the prevailing organisational culture, however, was pivotal in orchestrating both formal and informal control efforts within this organisation. Originality/value – This study contributes to management control theory and practice in two ways: first, it provides much needed empirical evidence about the ways in which management controls act as a package; second, it offers insights into the relative importance of the components of a management control package in the context of a particular organisational change. In addition, it responds to Laughlin’s (1991) call for empirical “flesh” to be added to the skeletal framework he advocates to make this conceptualisation of organisational change, “more meaningful”.

China's economy will struggle to halt secular slowdown

2021 ◽  
Keyword(s):  
High Speed ◽  
Regression To The Mean ◽  
Content Type ◽  
Strong Force ◽  
Global Demand ◽  
The Mean ◽  
Productivity Gains ◽  
Global Growth ◽  
China’S Economy

Significance Comparisons with two formerly fast-growing Asian neighbours, Japan and South Korea, suggest that China will continue to slow for another decade. Analysis of global growth trends over 50 years points to a strong force of ‘regression to the mean’, meaning that continued high-speed growth is statistically unlikely. Impacts Continued Chinese economic slowing will reduce global demand for resources such as iron ore and coal. Achieving productivity growth will require deepening reforms to increase the role of the market, the private sector and competition. World Bank economists emphasise that imposing stricter financial discipline is a key step to enhancing market-based productivity gains.

Cienfuegos affair threatens Mexico-US security ties

2021 ◽  
Keyword(s):  
Human Rights ◽  
Political Influence ◽  
The Political ◽  
Security Cooperation ◽  
Content Type ◽  
The Military ◽  
Trump Administration

Significance The situation has highlighted several issues of concern around the influence of the Mexican military, the government’s reliance on it and the challenges Mexico and its security agencies face in trying to meet US demands while addressing domestic threats. Impacts Mexican militarisation was facilitated by Trump administration apathy on human rights; this will change under President Joe Biden. Increased US-bound migration, encouraged by Biden’s more humane rhetoric, will heighten the need for bilateral security cooperation. Future Mexican administrations will struggle to reverse the political influence the military has obtained.

Grey-based model for forecasting Mauritius international tourism from different regions

2017 ◽  
Vol 7 (2) ◽  
pp. 259-271 ◽  
Author(s):  
Medha Pirthee
Keyword(s):  
System Theory ◽  
Grey System Theory ◽  
International Tourism ◽  
Grey System ◽  
Private Companies ◽  
Content Type ◽  
System Models ◽  
Economic Decision Making ◽  
Tourism Sector ◽  
The Government

Purpose The purpose of this paper is to understand the trend and forecast the number of tourists from different regions of the world to Mauritius. Design/methodology/approach The paper adopts two grey system models, the even model GM(1,1) and the non-homogeneous discrete grey model (NDGM), to forecast the total number of international tourism to Mauritius and its structure from different regions tourist arrivals to Mauritius for the next three years. Grey system theory models were used to account for uncertainties and the dynamism of the tourism sector environment. The two models were applied as a comparison to obtain more reliable forecasting figures. Findings The results demonstrate that both of the grey system models can be successfully applied with high accuracy for Mauritian tourism prediction, and also the number of tourist arrivals to Mauritius shows a continued augmentation for the upcoming years. Practical implications Forecasting is meaningful since the Government of Mauritius, private companies or any concerned authority can adopt the forecasting methods exposed in this paper for the development of the tourism sector through managerial and economic decision making. Originality/value Mauritius is a charming travel destination. Through this paper, it can be seen that future tourism travel to Mauritius has been successfully predicted based on previous data. Moreover, it seems that the grey system theory models have not been utilised yet as forecasting tools for the tourism sector of Mauritius as opposed to other countries such as China and Taiwan.

NGOs management: a roadmap to effective practices

2018 ◽  
Vol 9 (4) ◽  
pp. 372-387 ◽  
Author(s):  
Mohammed Aboramadan
Keyword(s):  
Conceptual Framework ◽  
Design Methodology ◽  
Private Companies ◽  
Policy Makers ◽  
Business World ◽  
Content Type ◽  
Governmental Organizations ◽  
Non Governmental Organizations ◽  
One Year ◽  
Management Functions

Purpose From one year to another, more researchers join in the ever-growing field of interest of non-governmental organizations (NGOs). Nevertheless, the literature on NGOs management is not as rich as what has been developed for private companies and bodies in the business world. The purpose of this paper is to propose a framework for managing NGOs effectively. Design/methodology/approach Reviewing the literature on NGOs management from different areas, the paper proposes a conceptual framework. Findings The paper provides a conceptual framework on how different management functions are involved in a mutual framework for managing NGOs. Research limitations/implications The author needs to empirically test the suggested framework using qualitative and qualitative techniques. Originality/value The author’s perspective on NGOs management is a subject of great interest for different NGOs stakeholders including: donors, communities, volunteers, managers and policy-makers.

scholarly journals Business founding in biotech industry: process and features

2020 ◽  
Vol 43 (10) ◽  
pp. 1183-1219
Author(s):  
Biagio Ciao
Keyword(s):  
Knowledge Sharing ◽  
Risk Perceptions ◽  
Process Model ◽  
Inductive Method ◽  
Resource Analysis ◽  
Private Companies ◽  
Content Type ◽  
The Public ◽  
Biotech Industry ◽  
Financial Impacts

Purpose This paper aims to construct a process model of business founding in the biotech industry. Design/methodology/approach An inductive method is used, and five case studies analyzed. Data are coded by applying Gioia’s method. Findings Aspirant entrepreneurs conduct resource analysis and industry analysis to formulate research and development targets. They perform transactions and networks because they require resources, and they then deploy and coordinate these resources. Such coordination generates activities with social and financial impacts. Research limitations/implications The results are specific to the biotech industry. A future study could examine business founding processes in other industries (e.g. entertainment, fashion, public utilities and sport). Additionally, the paper argues that during the founding process entrepreneurs show little concern for knowledge-sharing risk, as they want to collaborate to implement their ideas. Quantitative papers could test the consequences of such behavior. Practical implications The process model provides insights into aspirant founders on how to start a business in the biotech industry. Originality/value The paper shows: the differences between the founding process in the biotech industry versus other industries; and the shape of the Bower–Burgelman model in the context of biotech business founding. The paper delineates how private companies discover competencies in the public sector; a model of technology transfer from public to private sector; entrepreneurs’ absence of risk perceptions regarding knowledge-sharing during founding; and how conferences can serve as vehicles for benchmarking in networking.

scholarly journals Chinese fintech companies and their “going out” strategies

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Alice Siqi Han
Keyword(s):  
Economic History ◽  
Design Methodology ◽  
Regulatory Regime ◽  
Chinese Government ◽  
Rapid Rise ◽  
Private Companies ◽  
Content Type ◽  
The Past ◽  
Digital Payments ◽  
Developed Nations

PurposeThis paper outlines the rapid rise of China's fintech companies over the past decade with a focus on their globalization strategies as they enter their next phase of development.Design/methodology/approachThe author examines China's current and prospective influence on global financial digitization trends, and assesses both domestic and foreign opportunities and challenges confronted by China's fintech firms as they look to expand abroad.FindingsThe Chinese government is experimenting with a radically new fintech system and a regulatory regime in response to it. Chinese ambitions to expand fintech influence through private companies and the state-led “digital RMB” (e-CNY) will likely provoke a wave of “digital protectionism” among developed nations to protect internal digital payments.Originality/valueThis paper is an original economic history research on China's fintech industry.

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