Convergence In China Research Articles

Media Convergence: On Idea Transformation of Management

Media convergence has become an unavoidable subject in the development of China's television media. However, the media convergence in China's radio and television industry is far from mature. Still experimenting, it only sees superficial, unstable and unsustainable media cooperation. Against this background, the direction and path of media convergence are determined by the middle and senior management's awareness and understanding of it. The paper tries to highlight this point by discussing the significance, necessity and urgency of idea transformation among middle and senior management.

Convergence in China’s high-tech industry development performance: a spatial panel model

ABSTRACTAt present, there exist both regional-scale and regional performance differences in China’s high-tech industry development. Performance differences will inevitably affect resource allocation in regional high-tech industry and in the upgrading of industrial structure. Thus, this article conducts a systematic study of convergence issues in China’s high-tech industry development performance by adopting the spatial panel econometric method and related approaches.First, to measure the comprehensive performance of China’s high-tech industry development, the study applies the Malmquist index and efficacy coefficient method from the perspective of R&D efficiency and economic efficiency; then, by adopting a spatial autoregressive (SAR) panel data model, it studies the absolute convergence and convergence mechanism of China’s provincial high-tech industry development performance from 2001 to 2013. The results indicate the existence of distinct absolute convergence in China’s high-tech industry development performance since the 21st century, which is mainly due to technology diffusion. The convergence rate of central China is notably faster than that of other regions.

Who Benefits From IFRS Convergence in China?

We study the ex ante stock market reactions to events leading up to China’s convergence to International Financial Reporting Standards (IFRS). The literature consistently shows that the benefits of mandatory IFRS convergence are concentrated in countries with stronger legal enforcement and investor protection. Given that these institutional characteristics are weaker in China relative to more developed Western economies, whether mandating IFRS will benefit the Chinese capital market is an interesting and important, but unanswered question. We find that the Chinese stock market reacts favorably to events leading up to IFRS convergence, and this effect is more pronounced among firms with greater dependence on external capital. This result suggests the market anticipates that such firms will benefit more from IFRS convergence, possibly because of improved financial reporting quality and access to external financing. Additional tests confirm that the value relevance of accounting numbers for these firms is higher following IFRS convergence.

Who Benefits from IFRS Convergence in China?

We study the ex ante stock market reactions to events leading up to China’s convergence to International Financial Reporting Standards (IFRS). The literature consistently shows that the benefits of mandatory IFRS convergence are concentrated in countries with stronger legal enforcement and investor protection. Given that these institutional characteristics are weaker in China relative to more developed Western economies, whether mandating IFRS will benefit the Chinese capital market is an interesting and important, but unanswered question. We find that the Chinese stock market reacts favorably to events leading up to IFRS convergence, and this effect is more pronounced among firms with greater dependence on external capital. This result suggests the market anticipates that such firms will benefit more from IFRS convergence, possibly because of improved financial reporting quality and access to external financing. Additional tests confirm that the value relevance of accounting numbers for these firms is higher following IFRS convergence.

The bumpy road towards network convergence in China: The case of over-the-top streaming services

The decoupling of content and distribution platform has changed television irrevocably. Potential opportunities promised by the integration of telecommunications, broadcast and Internet networks means television has become a strategic highland for relevant stakeholders including industry players and state regulators. In China, network convergence has been on the state agenda since the turn of the century, but has remained stubbornly hard to move forward. This article starts with a brief overview of the state policy development in relation to the three-network convergence. It then zooms in onto the case of over-the-top streaming as a microcosm of the convergence project by examining two critical moments in its development trajectory, highlighting a short-lived early experiment in 2005 and a more recent wave of solutions since 2010. It offers a contextualised analysis of market evolution and state regulatory approaches in this space as power negotiations play out in multiple dimensions including those between the state and market, between the central and local, and between sectorial interests. By doing so, this article reveals contestations, contradictions and challenges in the state-engineered convergence project.

Energy Efficiency Convergence in China: Catch-Up, Lock-In and Regulatory Uniformity

This paper examines alternative hypotheses of beta convergence for different measures of energy efficiency. We collect a novel set of prefecture-level data that substantially extend the breadth of the datasets ever used in this literature. GMM estimators are then used to empirically test the national and club convergence of energy efficiency among these prefectures. We find strong evidence for prefecture-level national and club convergence in energy efficiency. In particular, the listed key environmental protection (KEP) prefectures, prefectures in central and western regions and prefectures not listed as resource-based (RB) converge faster than the non-KEP prefectures, prefectures in eastern region and RB prefectures. Sensitivity analyses suggest that these results are robust to alternative measures of energy efficiency and GMM specifications.

Whose cost of equity capital reduces after IFRS convergence and why? Heterogeneity evidence from Chinese stock market

This paper extends the studies of IFRS convergence in China by analysing heterogeneity with respect to the reduction in the cost of equity capital, and investigating the potential causes of that heterogeneity using the sample of listed A-share companies of 2004–2010. This paper finds that state-owned companies have experienced a greater cost reduction than non-state-owned companies. The further analyses find that institutional settings and management incentives are critical driving factors for state-owned companies benefiting more from IFRS convergence. These findings not only enrich the literature by providing direct evidence to reveal and explain the heterogeneity in the reduction in the cost of equity capital caused by IFRS convergence in China, but also contribute to the appraisal of the convergence. To implement IFRS-converged accounting standards in transitional economies such as China, it is important to strengthen the development of external marketisation and the governance of incentives for earnings management.

Does mandatory IFRS convergence constrain rounding manipulations in accounting? Evidence from Chinese firms

This study has two objectives: (1) to extend existing rounding phenomenon literatures on reported earnings and revenues to Chinese public firms and (2) to examine whether mandatory IFRS convergence in China constrains such rounding manipulations. We analyse interim earnings and revenue numbers over the period of 1990-2011. These reported accounting numbers show an unusual reporting pattern, which suggests that Chinese firms round up earnings and revenues. We then compare rounding manipulations in earnings and revenues before and after IFRS convergence. We find that profit firms round up their earnings more often and that loss firms round up their revenues more often after the mandatory IFRS convergence. Such a result may suggest that converging to IFRS does not discourage rounding manipulations.

IS CHINA’S URBANIZATION CONVERGENT?

In this study, we apply a stationarity test with a flexible Fourier function proposed by Enders and Lee [Oxford Bulletin of Economics and Statistics, 74 (2012) 574–599] to test the convergence of China’s urbanization. We find that our approximation has greater power to detect U-shaped and smooth breaks than the linear method if the urbanization is, in fact, a stationary non-linear process. It shows that the stationarity of the urbanization level varies across different regions where urbanization levels are convergent mainly in the middle- and low-income regions in China, while the high-income regions’ urbanization is divergent. This, in turn, shows that most of the regions, especially high-income regions, have their own economic evolution rules due to the degree of openness in the economy and urbanization process.

Technology business incubators and regional economic convergence in China

ABSTRACTPrevious researches often claim the benefits of technology business incubators (TBIs). There is, however, little systematic evidence of TBIs’ role in promoting local economic growth in China where regions are in different development stages. Furthermore, no study has examined TBIs’ contribution to economic convergence. This paper aims to answer this question, based on panel data of Chinese national technology business incubators and the host cities from 2008 to 2012. The results indicate that there exists economic convergence both nationwide and in the western regions of China and no evidence has been found in the eastern and midland regions. Initial analysis without considering the incubator’s characteristics showed that TBIs do not accelerate economic convergence nationwide. We further take the incubator’s characteristics into consideration. We find that non-state-owned TBIs and specialised TBIs can speed the converging process while state-owned TBIs and diversified TBIs have no influence on the process of regional economic convergence.

Spatial Econometric Analysis of Urban and County-level Economic Growth Convergence in China

Economic growth convergence, one of the classical assumption in regional economic growth, has been perplexing. There are many empirical studies trying to test if there is regional convergence in China. In this article, we bring new information of the finer spatial scale to the existing literature by using neoclassical convergence analysis, cross-sectional specifications, panel data models, and spatial econometric techniques to test the convergence hypothesis across 2,286 cities and counties in China. Empirical findings from cross-sectional data and spatial panel data show that significant absolute β and conditional β convergence are present in gross domestic product per capita after controlling for investment return rate, human capital, savings rate, population growth, technology advancement, capital depreciation rate, and initial technology level. We also find spatial agglomeration in urban and county economic growth is strong, and spatial effects are significant. Urban and county economic growth convergence rates for 1992–2010 show a gradually accelerated development trend. We present significant evidence that levels of investment, human capital, and initial technology impose significant facilitating effects on city and county economic growth, while savings and population growth have significant negative effects. And city and county economic growth differ in terms of convergence levels and influential factors.

Neoproterozoic stratigraphic correlation of Subei-Huainan in China

Subei-Huainan in the southeastern margin of the North China platform is a key area of convergence of China’s north-south stratigraphic correlation of Neoproterozoic. Due to the lack of fossils, the Neoproterozoic stratigraphic correlation is still a difficulty in this area. The division of Neoproterozoic strata and the establishment of the correlation framework of the stratigraphic sequences have been done through recognizing the regularity of meter-scale cycles by measuring the outcrop of Neoproterozoic strata and using the Fischer diagram and the sea-level curve of transgressive-regressive by the maximum flooding sedimentary and molar teeth carbonate sedimentary. The maximum flooding sedimentary which becomes cycle sequence comparison of sign is isochronous in the same basin and is a key of cycle sequence comparison although paleogeographic environment and sedimentary sequence may be different in the sedimentary strata of the same geologic time. Molars carbonates, having specific geological distrution time and depositional environment and mainly developing in the ramp environment of the platform edge in the 1500-650 Ma, are the new symbol of the stratigraphic correlation in the Neoproterozoic. Because of the missing of the fossil record, the maximum flooding and the molar-teeth carbonate sedimentary, as the new research ideas, are used in stratigraphic division and correlation.

Regional income inequality in China revisited: A perspective from club convergence

Growing income inequality in China has elicited considerable concern, and consensus has not been reached regarding whether regional income converges into one common steady state. The controversy may be attributed to the various definitions and methodologies for testing convergence. This study analyzes regional income inequality and convergence in China from the perspective of club convergence proposed by Phillips and Sul (2007). Instead of one convergence at the national level, we determine that provincial incomes are converging into two clubs: seven east-coastal provinces (Shanghai, Tianjin, Jiangsu, Zhejiang, Guangdong, Shandong, and Fujian) and Inner Mongolia are converging into a high income club, and the remaining provinces are converging into a low income club. In addition, we obtain strong evidence that income inequality within a club decreases, while that between clubs deteriorates over time. Between-club inequality is associated with investment in physical and human capital, as well as population growth rates.

Structural decomposition of economic convergence in China's resources based cities

Structural decomposition of economic convergence in China's resources based cities

The Convergence of China’s Foreign and Domestic Investment Regimes and China’s Investment Treaty Commitments

The Ministry of Commerce of the People’s Republic of China has issued a Draft Foreign Investment Law that proposes to cause the convergence of the PRC’s foreign and domestic investment regimes. That convergence in its current form will result in existing rights of foreign investors being extinguished or compromised. We discuss the loss of such rights in the light of the types of investors’ remedies that are currently provided for under China’s Bilateral Investment Treaties. In doing so, we show how the issues raised by the newly proposed investment regime can be framed as claims under the various standards of PRC treaty protection and the particular complexities that arise for consideration. This article is an assessment of the propensity and prospect of future arbitration claims concerning a complex draft law that, whether legislated in its current or in an amended form, will have significant commercial and economic implications. This matter is probably the single most important issue today in China corporate practice and we believe it has a strong investment law and arbitration dimension that demands to be explored and explained.

Carbon dioxide emissions and interregional economic convergence in China

This paper examines the effect of carbon dioxide (CO2) emissions on economic convergence among Chinese provinces from 1998 to 2012 using the framework of environmental total factor productivity (ETFP). We modify the standard β-convergence model to incorporate undesirable outputs such as CO2 emissions. The bootstrap method is subsequently applied to estimate the values of ETFP, and the system generalized method of moments (GMM) estimator is employed to test for convergence. The results indicate that there is imperfect interregional economic convergence in China, which is supported by gross domestic product (GDP) and CO2 emissions. However, the convergence process is inefficient due to the ‘catching up’ convergence trend of per capita CO2 emissions in China. This paper also finds that the variation in the capital stock and labour does not support the hypothesis that all of the provinces can converge to a steady state.

The Role of Foreign Direct Investment on Income Convergence in China after Early 1990s from a Spatial Econometric Perspective

AbstractThis paper introduces foreign direct investment (FDI) as an endogenous variable based on a neoclassical model of economic growth and investigates the impact of FDI on income convergence in China using provincial panel data from 1991 to 2007. A spatial model is later exploited to further examine the effect of FDI on convergence in China in light of remarkable and positive spatial correlations among neighboring regions. Results of estimates confirm the role of FDI inflow as a significant driving force to promote conditional convergence in China after the early 1990s. They also confirm that the non‐spatial classical model underestimates the impact of FDI on regional economic growth and also underestimates the speed of convergence.

Spatial rebalancing and industrial convergence in China

Our study documents the recent narrowing of the coast-inland divide in China. We argue that this rebalancing reflects, with a time lag, the catching up process which has been at work in the industry of the inland region since the end of the 1990s. The pattern is in line with the rapid and unconditional convergence observed in China's manufacturing industry over this period. The convergence of labor productivity suggests that advanced coastal regions have transferred capital and technology to the interior.

Energy Efficiency Measures and Convergence in China, Taking into Account the Effects of Environmental and Random Factors

This paper measures energy efficiency in China using the three-stage data envelopment analysis (DEA) model and then tests the convergence of China’s energy efficiency. The study finds that environmental factors and random factors both have significant impacts on energy efficiency. After eliminating the influences of environmental and random error factors, the results present that the pure technical efficiency improves and the scale efficiency decreases, but pure technical efficiency is far lower than scale efficiency in terms of energy utilization, which indicates that low pure technical efficiency is the main factor constraining China’s energy efficiency. China’s energy efficiency presents obvious regional differences, and the energy efficiency in eastern regions is higher than that in midwestern regions. Based on the matching relationship between energy efficiency and input level, China can be regionally divided into four energy utilization modes: high efficiency and high input mode, high efficiency and low input mode, low efficiency and high input mode, and low efficiency and low input mode. Nationally, the difference in regional energy efficiency should maintain a relatively high level in the short term; divergence occurs in terms of pure technical efficiency and overall technical efficiency, while scale efficiency manifests a significant absolute convergence feature. Differential energy strategy should be carried out according to the features of different districts. Eastern regions should decrease the dependence on external energy, and develop advanced techniques with lower energy consumption. The improvement of energy efficiency in Midwest regions should depend on changing a traditionally highly energy-intensive industrial structure, undertaking clear industrial transfer from the east, excavating latent energy savings with the high-energy industry sector, and accelerating the transformation to an intensive pattern. Strengthening the energy corporation of China not only enhances energy efficiency in eastern regions but also improves energy efficiency in midwestern regions by spillover effect. Accordingly, it could improve energy efficiency balance and robustness.

Elite, the convergence of China and America in transition from an uncertain future

New world with breathtaking speed are forming in front of our eyes. Immediate and speed of events is so that everyone, including politicians and ordinary people remain in the line of unwitting. Suddenly the world has smaller and yet more discrete, it seems that such a situation is partly due to the changing of nature and the emerging international system as a result, the subsequent pattern of power sharing between countries is a major transformation. Looking for a big change on the international level has been revised the most foreign policy countries, which were caused the context of the convergence and competitiveness in the Relationship countries. In the center of the developments is rotations that have taken place in the global distribution of economic and political power. An obvious example of this rotation is the emergence of China as an emerging power that the increasingly capabilities has to challenge the world domination. This article seeks to answer the fundamental question whether America will be able to meet these challenges (emerging as a strategic emerging powers) associated with Chinese? And whether China is willing to join? Article The following is within the scope of the conclusions of intellectual elite, familiar name in international relations and comparative study of the hard and soft power of two countries sought to test the hypothesis with the rise of the fifth generation of Chinese and often their look of technocratic and Western at things and from one side fade the role of ideological, and increase trade between the two countries and America's efforts to attract Chinese about all kinds of contributing leverage to solve the economic problems that caused by the crisis of capitalism in the first degree and gaining some political support in order to reduce costs and strict supervision and effective control over the other Party China with Accepting this topic That elites of this two countries know the convergence of these two countries in the anarchy strains world for the benefit of both countries; It appears that the convergence of this two countries is unlikely in the near future.