Thesis (doctoral)--Universiẗat Hamburg, 2005. / Includes bibliographical references (p. 273-301).

This research aims to examine the interactions, transformation and implications of the government-business relations of entrepreneurial families in Mainland China, Taiwan, and Hong Kong. The similarities and differences of their operational patterns, strategies and impacts are also investigated. Establishing the political dimension as the foundation for this study enables this research to enrich the understanding of Chinese entrepreneurial families and address the gaps of conventional theories. Three influential entrepreneurial families in the cross strait tri-region—the Rong family in Wuxi, the Koo family in Taiwan and the Fok family in Hong Kong—are examined, with the application of clientelism and corporatism as the theoretical framework for analysis. Traditional Chinese values on business and businessmen are integrated into the theoretical discussion that serves as the basis of critical review of conventional theories and formulation of a new government-business relations theory relevant to the context of Chinese societies. All assumptions leading to such a theory are substantiated through conducting historical reviews and empirical analysis. This research primarily adopts a qualitative approach, using multiple case studies, historical and literature review, document analysis (including opened secret archives), in-depth interviews and field research. The research argues that such relations are rooted in the traditional Chinese cultural values and ideologies. With the support of party-state apparatus, or state apparatus, as well as operational mechanisms at both an individual and organizational level, the party-state-led or government-led government-business relations are established and sustained through various pathways. They also come as an embodiment of political alliance as the individual and organizational frameworks of corporatism interact and modify each other. It is asserted that an underlying mechanism is in constant operation to sustain the relational dynamics, but that such a mechanism cannot be explained in terms of legal considerations. The government-business relations of Chinese entrepreneurial families present cooperation but not opposition, and emphasize mutual dependence, trust and loyalty, which cannot be satisfactorily interpreted with clientelism. Public interests, or at least the coexistence of public and private interests, characterize the collaboration between the two parties in question. This research further reveals that entrepreneurial families undertake more political costs and risks than general family enterprises. This in turn provides proof of both the positive and the negative sides of political capital, which can potentially evoke extreme effects and constitute unstable factors for the development of entrepreneurial families. This understanding deviates from the past discourse which upholds the view that participation in government-business relations brings reasonable expectations about acquiring more interests on the part of entrepreneurial families. A comprehensive analysis of the involved interests and costs, opportunities and crises, as well as contributions and disadvantages confronting entrepreneurial families as a consequence of engaging in such government-business relations?as well as the manifestation of the distinctive operational models underlying such relations?are the important contributions made by this research. / published_or_final_version / Humanities and Social Sciences / Doctoral / Doctor of Philosophy

This thesis presents various dynamic models of corporate decisions to address two main issues: investment distortions caused by debt financing and cash flow sensitivities. In the first chapter, four measures of investment distortion are computed. First, the effect of financing frictions is examined. The tax benefit of debt induces firms to increase their debt capacity and to invest beyond the first-best level on average. The cost of this investment distortion outweighs the tax benefit of debt. Second, Myers's (1977) debt overhang problem is examined in a dynamic framework. Debt overhang obtains on average, but not in low technology states. Third, there is no debt overhang problem in all technology states when debt is optimally put in place prior to the investment decision. Finally, the cost of choosing investment after the debt policy is examined. Equity claimants lose value by choosing to invest after their debt is optimally put in place because they do not consider the interaction between their investment choice and the debt financing conditions. The second chapter explores the impact of financial constraints on firms' cash flow sensitivities. In contrast to Fazzari, Hubbard, and Petersen (1988), cash flow sensitivities are found to be larger, rather than smaller, for unconstrained firms than for constrained firms. Then, why is investment sensitive to cash flow? In the two models examined in the second chapter, the underlying source of investment opportunities is highly correlated with cash flows. Investment may be sensitive to cash flow fluctuations simply because cash flows proxy for investment opportunities. This leaves two important questions. Can this chapter suggest a better measure of investment opportunities than Tobin's Q? Not a single measure for both the unconstrained and constrained firm models. Can this chapter suggest an easily observable measure of financial constraint? Yes: large and volatile dividend-to-income ratios.

Thesis (PhD) -- Swinburne University of Technology, Australian Graduate School of Entrepreneurship, 2006. / Submitted for the degree of Doctor of Philosophy - Australian Graduate School of Entrepreneurship, Swinburne University of Technology, 2006. Typescript. Includes bibliographical references (p. 251-263).

Thesis (Ph. D.)--United States International University, 1989. / Includes bibliographical references (leaves 156-159).

Thesis (Ph. D.)--University of Tennessee, Knoxville, 1992. / Vita. Includes bibliographical references (leaves 165-174).

Thesis (Ph. D. in Management)--Vanderbilt University, Aug. 2007. / Title from title screen. Includes bibliographical references.

The purpose of this study was to investigate and foster corporate citizenship (CC) in the SA taxi industry. The primary objective of this study was to foster corporate citizenship in the South African taxi industry by investigating the determinants that would increase CC in the SA taxi industry. The study gathered quantitative information about CC, identified which factors influence CC in the taxi industry and investigated which of these factors are the most important determinants that would increase the CC in the industry in South Africa. This study was intended to contribute to building the body of knowledge for the implementation and fostering of corporate citizenship programs. In particular, the researcher hoped that the framework provided in this study would outline the practical strategies that the taxi organisations should take in developing targeted, long-term partnerships with the communities in which they operate. Convenience sampling was used to select one hundred (100) participants. The response rate was ninety-six percent (96%). The sample was structured to include the directors, deputy directors, senior managers, managers and the drivers of the taxi organisations in twenty-three districts in the Eastern Cape. These participants were taken from the body that incorporates all the taxi associations in Eastern Cape called the Eastern Cape Bus and Business Chamber (ECBTBC). The empirical results revealed that in order to increase corporate citizenship within the SA taxi industry there should be an increase in its human resource management, operations management and the dynamic externalism of its members. The findings also revealed that the social cynicism should be decreased within this industry.

This thesis presents various dynamic models of corporate decisions to address two main issues: investment distortions caused by debt financing and cash flow sensitivities. In the first chapter, four measures of investment distortion are computed. First, the effect of financing frictions is examined. The tax benefit of debt induces firms to increase their debt capacity and to invest beyond the first-best level on average. The cost of this investment distortion outweighs the tax benefit of debt. Second, Myers's (1977) debt overhang problem is examined in a dynamic framework. Debt overhang obtains on average, but not in low technology states. Third, there is no debt overhang problem in all technology states when debt is optimally put in place prior to the investment decision. Finally, the cost of choosing investment after the debt policy is examined. Equity claimants lose value by choosing to invest after their debt is optimally put in place because they do not consider the interaction between their investment choice and the debt financing conditions. The second chapter explores the impact of financial constraints on firms' cash flow sensitivities. In contrast to Fazzari, Hubbard, and Petersen (1988), cash flow sensitivities are found to be larger, rather than smaller, for unconstrained firms than for constrained firms. Then, why is investment sensitive to cash flow? In the two models examined in the second chapter, the underlying source of investment opportunities is highly correlated with cash flows. Investment may be sensitive to cash flow fluctuations simply because cash flows proxy for investment opportunities. This leaves two important questions. Can this chapter suggest a better measure of investment opportunities than Tobin's Q? Not a single measure for both the unconstrained and constrained firm models. Can this chapter suggest an easily observable measure of financial constraint? Yes: large and volatile dividend-to-income ratios. / Business, Sauder School of / Graduate

The primary objective of this dissertation is to determine the factors that have shaped the corporate financial reporting practices in Bahrain. Prior researchers have offered two explanations, environmental factors and cultural importation, for the emergence of financial reporting practices in developing countries. The environmental explanation suggests that a nation's financial reporting practices will be shaped by its socioeconomic structure. The cultural importation explanation states that the desire for international legitimacy creates incentives for developing nation to adopt Western financial reporting practices. Bahrain provided an excellent environment in which to examine the two explanations since its public and closed corporations have similar economic characteristics. Only public corporations are legally required to publish financial reports. I posited that public corporations would try to gain legitimacy for their published reports by adopting Western standards, while closed corporations would not have a similar incentive. I used an interpretive framework to analyze the Bahrain socioeconomic environment and to examine the general financial reporting practices of Bahraini corporations. I found that closed corporations provided data responsive to the Bahraini environment. Public corporations, however, adopted International Accounting Standards. My analysis supported prior researchers7 findings that colonialism, the need for international legitimacy, and international audit firms were important factors in gaining acceptance for Western accounting practices. The adoption of Western financial reporting practices may be dysfunctional to a developing nation like Bahrain if these practices do not provide relevant information about corporate performance. Therefore, Bahrain, as well as other developing countries, needs to proceed cautiously before adopting Western corporate reporting practices.