Organizational Imprinting and Response to Institutional Complexity: Evidence from Publicly-Traded Chinese State-Owned Firms in Hong Kong

2017 ◽  
Vol 13 (2) ◽  
pp. 345-373 ◽  
Author(s):  
Yifan Wei
Keyword(s):  
Hong Kong ◽  
Central Government ◽  
Stock Exchange ◽  
Organizational Response ◽  
Institutional Complexity ◽  
Organizational Responses ◽  
Organizational Attributes ◽  
State Directors ◽  
Chinese State ◽  
Organizational Imprinting

ABSTRACTThis study seeks to answer the following question: What are the organizational attributes that influence organizational responses to institutional complexity? Building on core ideas of organizational imprinting, I argue that organizational response is influenced by the imprint from the dominant logic of organizing during the founding period and from the institutional position an organization possessed at founding. Empirically, I examine the variation in board composition of Chinese state-owned firms listed in the Hong Kong Stock Exchange market. It is found that state-owned firms founded in the market logic dominant period tend to have more non-state directors on the board in that they were organized around the prescription of the market logic and more responsive to shareholders’ demands for legitimacy reasons. Besides, state-owned firms founded by central government agencies tend to have fewer non-state directors because they were born at the center of the socialist system to accomplish strategic goals of the central government and non-state directors may challenge the vested interests. This study contributes to the organizational imprinting and institutional literature and resonates with the contemporary call for a more systematic examination of organizational attributes that influence organizational responses to institutional complexity.

International accounting standards in French companies in the 1990s: an institutionalization contested by US GAAP

2020 ◽  
Vol 33 (8) ◽  
pp. 2027-2051
Author(s):  
Philippe Touron ◽  
Peter Daly
Keyword(s):  
Stock Exchange ◽  
Accounting Standards ◽  
Organizational Response ◽  
International Accounting ◽  
International Accounting Standards ◽  
Institutional Complexity ◽  
Organizational Responses ◽  
Content Type ◽  
Conflicting Demands ◽  
Us Gaap

PurposeThe paper analyzes four cases of IAS adoption (Aérospatiale in 1989; Usinor in 1991; Coflexip in 1993; and Péchiney in 1995) to better understand the instructional logics behind the use of alternative or additional standards by French companies in the early 1990s.Design/methodology/approachThe study employs multiple case studies to explain how and why the heterogeneity of adoption (IAS versus US GAAP) is a response to institutional complexity.FindingsThis research shows that French companies adopted IAS as long as they were not required to use US GAAP by their financial backers. The results highlight how the companies combine logics to respond to the complexification of the field. The authors outline how endorsement of logics by outside carriers (auditors, financial analysts, stock exchange commissions) and framing of logics by managers evolve in time and space within this complexification process.Research limitations/implicationsThis study contributes to the institutional complexity literature in that it focuses on distinct organizational responses to multiple institutional logics. More precisely, the choice of standards in primary consolidated accounts are viewed as an organizational response to compatible and conflicting demands from several levels: home countries, transnational areas and host countries with the aim of raising funds in the US.Originality/valueThis research makes a distinct link between institutional complexity and international accounting standards and US GAAP.

CROSS-BOUNDARY AIR POLLUTION CONTROL UNDER “ONE COUNTRY, TWO SYSTEMS”: PERSPECTIVES FROM HONG KONG–GUANGDONG COLLABORATION

2017 ◽  
Vol 65 (03) ◽  
pp. 601-625
Author(s):  
TING YIN TIFFANY WONG ◽  
YUAN XU ◽  
YOUNGHO CHANG
Keyword(s):  
Air Pollution ◽  
Hong Kong ◽  
Pollution Control ◽  
Local Governments ◽  
Central Government ◽  
Necessary Conditions ◽  
Air Pollution Control ◽  
Two Systems ◽  
One Country Two Systems ◽  
Effective Collaboration

This study aims to examine how “One Country, Two Systems” has shaped and influenced the collaboration on cross-boundary air pollution control between the governments of the Hong Kong Special Administrative Region and the Guangdong province. The presence of the Chinese central government significantly fostered the start of this collaboration, but the implementation and collaborative relationship were relatively weak and unsustainable due to the two local governments’ largely different interests, goals and political demands. We found that the emphasis on “One Country” especially after 2003 led to the signature of more joint agreements in comparison with what the emphasis on “Two Systems” did between 1997 and 2003. Joint agreements appear to be necessary conditions for effective collaboration, but too many of them without satisfying implementation could have resulted in less concrete benefits. A balanced stress on “One Country” and “Two Systems” might bring an appropriate number of joint agreements with good implementation for more effective collaboration.

Hong Kong’s institutional incongruities and its tourism policy

2015 ◽  
Vol 4 (3) ◽  
pp. 312-329 ◽  
Author(s):  
Chiew Ping Yew
Keyword(s):  
Hong Kong ◽  
Political System ◽  
Central Government ◽  
Institutional Arrangements ◽  
Content Type ◽  
Business Interests ◽  
Tourism Policy ◽  
The Government ◽  
The Individual ◽  
Policy And Planning

Purpose – With a focus on Hong Kong tourism policy, the purpose of this paper is to explain the Hong Kong government’s conundrum in addressing society’s concerns and controversies over the massive influx of mainland tourists in recent years. Design/methodology/approach – This paper adopts the approach of historical institutionalism, in which the notion of structural-power takes centre stage. It outlines some notable trends in Hong Kong’s tourist arrivals and highlights some of the controversies that have arisen before delving into how existing institutional arrangements and key actors have shaped Hong Kong’s tourism policy amid the city’s shifting social, political and economic contexts. Findings – The prevalence of business interests and the ideology of economism largely explain the Hong Kong government’s stasis in tackling the problems stemming from the large inflow of mainland visitors. Institutional arrangements in the post-handover period have further empowered the business class, giving it an edge over the unelected executive that lacks a popular mandate. Therefore, even if the central government has signaled its willingness to adjust the Individual Visit Scheme (IVS) policy, the Hong Kong government is unlikely to propose significant cuts to the inflow of IVS arrivals. Without further political reforms to boost the executive’s legitimacy and accountability to the Hong Kong people, it is doubtful that the government may emerge from its predicament in the near future. Originality/value – Through the lens of tourism policy and planning pertaining to inbound mainland visitors, this paper aims to assess the current state of governance in Hong Kong. It not only offers a timely look into Hong Kong’s political system 17 years after handover but also explores the extent to which apparent dysfunctions in the city’s governance today are a consequence of institutional incongruities in its political system.

scholarly journals Stock Market Manipulation on the Hong Kong Stock Exchange

2014 ◽  
Vol 8 (4) ◽  
pp. 105-140 ◽  
Author(s):  
Dionigi Gerace ◽  
Charles Chew ◽  
Christopher Whittaker ◽  
Paul Mazzola
Keyword(s):  
Hong Kong ◽  
Stock Market ◽  
Stock Exchange ◽  
Market Manipulation ◽  
Hong Kong Stock Exchange

scholarly journals Hong Kong stock exchange opens to biotechs

2018 ◽  
Vol 36 (6) ◽  
pp. 482-482
Author(s):  
Shannon Ellis
Keyword(s):  
Hong Kong ◽  
Stock Exchange ◽  
Hong Kong Stock Exchange

Exchanges

2011 ◽  
Author(s):  
Ruben Lee
Keyword(s):  
New York ◽  
Hong Kong ◽  
Case Studies ◽  
Stock Exchange ◽  
New York Stock Exchange ◽  
London Stock Exchange ◽  
York Stock Exchange ◽  
Futures And Options ◽  
Penny Stocks

This chapter presents a series of case studies illustrating how specific exchanges have actually been governed in particular contexts. The following institutions and contexts are described in turn: the proposed iX merger between Deutsche Börse and the London Stock Exchange (LSE), and its subsequent collapse, in 2000; the “Penny Stocks Incident” at Hong Kong Exchanges and Clearing Ltd. in 2002; the attempted takeover of the LSE by NASDAQ over the period 2006–8; Euronext's purchase of London International Financial Futures and Options Exchange in 2001; the resignation of the chairman/CEO of the New York Stock Exchange in 2003; and the purchase by the “Murakami Fund” of a major block of shares in the Osaka Securities Exchange in 2005. A few brief general lessons from each case study are also identified.

From Low Cost to Global Leadership: Computime (Hong Kong) Leads Through Innovation

2017 ◽  
pp. 1-14
Author(s):  
Robert C. Wolcott ◽  
Michael J. Lippitz
Keyword(s):  
Hong Kong ◽  
Developing Economies ◽  
Stock Exchange ◽  
Innovation Management ◽  
Low Cost ◽  
Leading Edge ◽  
Management Tools ◽  
Contract Manufacturing ◽  
Family Enterprises ◽  
Professional Management

The case describes the evolution between 1999 and 2008 of a family-owned contract manufacturing company into a publicly traded, US$400 million global firm. The son of the founder, Bernie Auyung, assumed the CEO position with the company during this period and has worked with his father to build a broader, professional management team. In the process the company has applied a range of leading-edge innovation management and strategy tools that put it far ahead of most Chinese peer companies. Computime provides an exceptional model for other companies in developing countries looking to evolve from a low-cost competitor into a global leading company with its own technologies and brands. Students are asked to assume Bernie's role and suggest the path forward. The teaching note describes what the team actually did, and addresses the questions raised at the end of the case.Computime provides an exceptional example of how to evolve from an entrepreneur-led startup competing on low cost and the vision of the founder to a global, professionally managed company listed on a major exchange (the Hong Kong Stock Exchange in this case). Students are also able to explore a company in the process of instituting many of the leading innovation management tools described in classes focused on innovation management. The case would also be quite valuable for classes focused on the challenges facing family enterprises that must evolve beyond the control of a visionary founder. It resonates particularly well with students in developing economies both in Asia and beyond.

Does Government Pay Attention to the Public? The Dynamics of Public Opinion and Government Attention in Posthandover Hong Kong

2019 ◽  
Vol 32 (4) ◽  
pp. 641-658
Author(s):  
Chuanli Xia ◽  
Fei Shen
Keyword(s):  
Hong Kong ◽  
Public Opinion ◽  
Central Government ◽  
Time Series Data ◽  
Theory And Practice ◽  
Series Data ◽  
The Public ◽  
Government Response ◽  
Dynamic Relationships ◽  
Public Opinion Polls

Abstract Government response to public opinion is essential to democratic theory and practice. However, previous research on the relationship between public opinion and government attention predominantly focuses on western societies. Little is known about such relationship in nonwestern or nondemocratic societies. Drawing upon time-series data of public opinion polls and government press releases, this study examines the dynamic relationships between public opinion and government attention in posthandover Hong Kong. The findings reveal that the responsiveness of the Hong Kong government to public opinion varies across issue domains and is constrained by the political power from the central government in Beijing.

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