Capital Occupation Research Articles

Do Private Benefits of Control Affect Corporate Social Responsibility? Evidence from China

In this study, we examined whether private benefits of control can influence corporate social responsibility performance. We used both separations between cash flow and control rights and the length of the longest control chain to measure private benefits of control. Consistent with the private benefits motive, we found that firms with greater divergence between cash-flow rights and control rights, with longer control chains, are associated with lower corporate social responsibility performance. Further, we found that earnings management and capital occupation by the controlling shareholder are the two effective channels through which private benefits of control affect corporate social responsibility. Additionally, this negative association is more pronounced for firms located in regions with low degree of law environment and with CEOs appointed by the largest shareholder. Additional robustness tests using alternative CSR measurements, and two-stage least squares (2SLS) regression support the main findings. This study highlights a new determination channel of private benefits of control and practically guides the introduction of corporate social responsibility activities in emerging markets.

攝政王 도르곤의 北京 점령과 遷都의 실행

攝政王 도르곤의 北京 점령과 遷都의 실행

A Study on the Relationship between the Shareholding Ratio of the Controlling Shareholders and the Capital Occupation under the Different Capital Structures

Based on Hansen’s “threshold panel regression model” [1], this paper studies the relationship between shareholding ratio and capital occupation of listed companies in consideration of the difference of capital structure of the company, through the double threshold test method to determine the threshold value. The results show that there is a significant interval effect between the proportion of controlling shareholders and capital occupation of listed companies, but there is no “inverted U” relationship expected. The relationship between the two is due to the high ratio of assets to liabilities. And the “inverted U” relationship appears when the asset-liability ratio is low; the shareholding ratio of the controlling shareholder of the listed company is negatively correlated with the capital occupation, and when the asset-liability ratio is high, the two are positive related. We analyze the above-mentioned results from the cost and motivation of controlling shareholders of listed companies in China, and put forward some policy suggestions for listed companies, the main creditor banks and the regulators.

The Man Who Captured Washington: Major General Robert Ross and the War of 1812 by John McCavitt and Christopher T. George

Reviewed by: The Man Who Captured Washington: Major General Robert Ross and the War of 1812by John McCavitt and Christopher T. George Jonathon Hooks The Man Who Captured Washington: Major General Robert Ross and the War of 1812. By John McCavitt and Christopher T. George. Campaigns and Commanders. ( Norman: University of Oklahoma Press, 2016. Pp. xiv, 297. $29.95, ISBN 978-0-8061-5164-9.) Americans familiar with the sole instance of occupation of the nation's capital by a foreign power know well the role Britain's Robert Ross played in that event. After pushing aside a hastily assembled American force composed mainly of militia, Ross entered Washington, D.C., on August 24, 1814. Though in the city for only twenty-four hours, the British burned most of the public buildings while sparing almost all of the private dwellings. Ross's brief presence left its mark on the United States. Congress briefly considered relocating the capital city, the Capitol and the Executive Mansion underwent significant reconstruction, and Congress approved a program to improve [End Page 670]coastal fortifications so that another foreign incursion would never take place. Despite the influence Ross's victory had on the United States, he has mostly been forgotten in the United States and in his home country. John McCavitt and Christopher T. George shed new light on General Ross and the significance of his triumph in their recent biography of this somewhat overlooked commander. McCavitt and George trace Ross's life from his childhood in Ireland to his death just outside Baltimore, Maryland, only weeks after he victoriously entered Washington. Included in their coverage of the general'slife is a chapter dedicated to his service in the Napoleonic Wars. The authors believe this portion of Ross's career has failed to receive the attention it deserves. McCavitt and George cast Ross as a popular leader who demonstrated efficiency and personal bravery in battle. They also argue that Ross fiercely protected the soldiers he commanded from censure whenever they stood accused of harassing or abusing civilians. His time fighting the French provided Ross with numerous opportunities to demonstrate these characteristics. While stationed in Malta, Ross did not hesitate to stand up for subordinates accused of damaging civilian property. McCavitt and George also praise Ross for leading his men in a successful rearguard action against the French during the Peninsula War. The bulk of this biography focuses on Ross's three-week campaign in Maryland during the late summer of 1814. McCavitt and George portray him as a brave, decisive soldier who keenly evaluated the strength and condition of the American militia facing him at the battle of Bladensburg just outside the District of Columbia. The authors characterize Ross's behavior in Washington as somewhat chivalrous. Although he obviously ordered the destruction of public buildings, he spared civilian property and burned government structures only because his superiors ordered him to do so. Even Ross's death less than a month later outside Baltimore is depicted as another moment of gallantry, as the young general rode well ahead of his troops to determine the strength and position of American forces defending the threatened city. According to McCavitt and George, Ross's early demise cast a pall on his recently acquired fame resulting from his capture of Washington. This biography accomplishes its goal of introducing readers to Ross's military skill and accomplishments. Using veterans' memoirs, government records, a wide array of newspapers, and recently composed secondary sources that focus on the Chesapeake invasion, McCavitt and George have consulted a very reliable collection of sources. The result of their research familiarizes readers with the talents and personality of the British general who did what no other military leader has done since—captured the capital of the United States. Jonathon Hooks Mississippi University for Women Copyright © 2017 The Southern Historical Association

The Third Party Logistics Partner Selection of B2C E-Commerce Enterprise

In recent years, with the rapid development of Internet, e-commerce enterprises in China is at an alarming rate of sustainable development, the B2C e-commerce in the online shopping market accounted for a large proportion, with the rapid change of the market and customer needs to establish a flexible distribution service is one of the many e-commerce companies need to solve. Using self logistics capital occupancy bigger; the logistics alliance, with the risk of internal information disclosure; and on the third party logistics, not only capital and manpower can be effectively used, helps enterprises to strengthen the core business. Therefore, it is very important to choose the appropriate third party logistics providers to reduce operating costs and improve the market influence. This paper analyses the existing problems in the third party logistics, the establishment of a more complete index system, according to the actual situation of the suppliers, using the improved AHP method and the entropy coefficient method to get the comprehensive weight, finally get the approximation method to meet the business requirements of the logistics service providers use the ideal, for commercial enterprises to third party logistics service provider selection and puts forward some available models.

Consideration in non-tradable shares reform: the compensation for benefit expropriation

Purpose – The purpose of this paper is to investigate the main determinants of consideration in China's non-tradable shares reform. The primary objective is to dig into the institutional factors that affect consideration in China's non-tradable shares reform. Design/methodology/approach – The authors examine a sample of 846 state-owned enterprises (SOEs) that have finished the non-tradable shares reform during 2005-2009. Using the multiple liner regression, the authors discuss the important factors which affect consideration. Findings – The authors find that ownership reconstruction form and capital occupation are very important determinants of consideration. The main factor which affects controlling shareholders’ capital occupation is the form of ownership reconstruction. Capital occupation of incompletely ownership reconstructed companies is more serious than those of complete ownership reconstructed companies. Furthermore, companies of incomplete ownership reconstruction and higher capital occupation paid higher consideration as a compensation for the expropriation of tradable shareholders’ benefit during the shares split period. Originality/value – This study provides not only a deeper understanding of the reform of non-tradable shares but also an important empirical reference for reform of SOEs in China.

Partial privatisation and firm performance: evidence from China's state-owned enterprises

This paper investigates the performance changes of 390 state-owned enterprises (SOEs) in China during 2000–2008 with the existence of share issue privatisation (SIP), and analyses the macro and micro determinants of these changes. We find that SIP significantly improves SOEs’ output and efficiency, and the performance changes vary along with different macro and micro factors. Economic growth, industry regulations, regional marketisation, institutional investors, and equity refinancing are positively related to performance changes. However, capital market development, control of large shareholders, contest of shareholders, and capital occupation exhibit significant negative impacts on firms’ performance changes.

Requirements Analysis on the Highway Emergency Resource Based on Fuzzy Comprehensive Evaluation

In order to allocate the highway emergency resources rationally, with the timeliness, importance, scarcity and capital occupancy of the emergency supplies used as evaluation indexes, this paper use the analytic hierarchy process to determine the weight of each index, and use fuzzy comprehensive evaluation method to evaluate the emergency resource demands. The paper provides a comprehensive evaluation of resource requirements for highway emergency resources ,such as the highway patrol car, sweeper truck, fire engines, medical vehicles and wrecker. Through qualitative and quantitative analysis, the results are rational,effective and more consistent with reality, on which can be based in emergency resource allocation.

Partial privatisation and firm performance: evidence from China's state-owned enterprises

This paper investigates the performance changes of 390 state-owned enterprises (SOEs) in China during 2000–2008 with the existence of share issue privatisation (SIP), and analyses the macro and micro determinants of these changes. We find that SIP significantly improves SOEs’ output and efficiency, and the performance changes vary along with different macro and micro factors. Economic growth, industry regulations, regional marketisation, institutional investors, and equity refinancing are positively related to performance changes. However, capital market development, control of large shareholders, contest of shareholders, and capital occupation exhibit significant negative impacts on firms’ performance changes.

Child Abuse and Disability in an Ontario Community Sample: Does Social Capital Matter?

Researchers have established a link between abuse and disability, but most abused individuals do not experience disability. While some survivors are severely harmed by their experiences of abuse, other survivors of similar exposure appear to have no long-term health problems. Can the presence of social capital account for these differences? Cross-sectional data from the Ontario Health Supplement were used to assess the association between child abuse, age, social capital (social connections and disruptions in living circumstances and relationships), cultural capital (education and occupation) and financial capital (money) and disability in a female community sample (n=4238). The results suggest that abuse (physical and sexual) and financial capital are associated with disability, but not social capital.

Guildsmen, religious reform and the search for the common good: the role of the guilds in the early Reformation in Augsburg

ABSTRACTThis article examines the forces that shaped the responses of the urban commons to the Reformation in Augsburg. Developing work by Blickle and others, it considers the extent to which traditional communal ideals were reflected in measures to construct a system of ‘sacral corporatism’. An examination of the attitudes of guildsmen towards communal values and institutions shows variation in their views, even on such basic points as the identification and imposition of the ‘common good’. Case studies show how predominantly poor weavers were attracted to the call to enforce communal principles as a means of defending their status and incomes. To this end they welcomed evangelical teaching, for it provided scriptural and ethical endorsements of corporate action. In contrast, members of the butchers' guild, who were involved in a capital intensive occupation, resisted communal restraints on their freedom to trade and make profits. The butchers' opposition to the Reformation rested more on their rejection of ‘sacral corporatism’, as advocated by reformers in Augsburg, than on support for Catholicism. Augsburg shows the significance of communal values in the urban Reformation, but it demonstrates that these were neither static nor uniformly accepted. On the contrary they were themselves the subject of dispute.