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| 1 |
ID:
113837
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2012.
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| Summary/Abstract |
The aim of this collection is to analyse the nature of the Association of Southeast Asian Nations (ASEAN) and to consider its future. Given that regional integration is not simply an outcome but a complex and multidimensional process, the prognostic assessments of ASEAN made in this volume are drawn up from examinations of the Association's historical background, economic interplays, political culture, diplomatic norms, institutional governance, and geopolitical surroundings. Reflecting on the conception and shifting dynamics of ASEAN, the essays expound major pressure points on the Association's ambitious agenda for building "one community" with "one vision" and "one identity" among its members, and for staying in the "driver's seat" of all regional initiatives in the wider East Asia.
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| 2 |
ID:
086582
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2009.
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| Summary/Abstract |
Lin, Cai, and Li [Lin, Y., Cai, F., Li, Z., 1998. Competition, policy burdens, and state-owned enterprise reform. American Economic Review 88, 422-327] argue that under information asymmetry, SOE managers can use state-imposed policy burdens as excuses of poor performance and make the State accountable for it. The argument implies that turnover-performance sensitivity of SOEs decreases as policy burdens increase and that such impact depends on the extent of information asymmetry. Accordingly, this paper empirically explores how policy burdens affect top management turnover of Chinese listed firms between 2000 and 2005. We find that high surplus labor significantly reduces the sensitivity of chairman turnover to performance for state-controlled firms, while private firms do not exhibit such a pattern. Furthermore, our results show that high surplus labor reduces the turnover-performance sensitivity more for firms with greater information asymmetry. Overall, we find strong evidence supporting the implications of Lin, Cai, and Li [Lin, Y., Cai, F., Li, Z., 1998. Competition, policy burdens, and state-owned enterprise reform. American Economic Review 88, 422-327]. In addition, we find that chairman turnover of Chinese firms is sensitive to different performance measures for state-controlled firms and private firms.
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| 3 |
ID:
132640
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2014.
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| Summary/Abstract |
There has been much attention paid to oil security in China in recent years. Although China has begun to establish its own strategic petroleum reserve (SPR) to prevent potential losses caused by oil supply interruptions, the system aiming to ensure China×s oil security is still incomplete. This paper describes and provides evidence for the benefits of an auxiliary strategic oil policy choice, which aims to strengthen China×s oil supply security and offer a solution for strategic oil operations with different holding costs. In this paper, we develop a multi-dimension stochastic dynamic programming model to analyze the oil stockpile delegation policy, which is an intermediate policy between public and private oil stockpiles and is appropriate for the Chinese immature private oil stockpile sector. The model examines the effects of the oil stockpile delegation policy in the context of several distinct situations, including normal world oil market conditions, slight oil supply interruption, and serious oil supply interruption. Operating strategies that respond to different oil supply situations for both the SPR and the delegated oil stockpile were obtained. Different time horizons, interruption times and holding costs of delegated oil stockpiles were examined. The construction process of China×s SPR was also taken into account.
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