Thesis (Ph. D.)--Chinese University of Hong Kong, 2005. / Includes bibliographical references (leaves 265-280).

Thesis (Ph.D.)--The Chinese University of Hong Kong, 2005. / Adviser: Kevin Au. Includes bibliographical references (p. 265-279)

The study of leadership is one of those disciplines that invoke fierce debate among scholars and at the centre of the leadership debate lies the many approaches to the discipline that are employed by scholars and these approaches have led to different definitions of the discipline such as the trait theory of leadership, the behavioural theory of leadership and the contingent theory of leadership. This study was undertaken for two main reasons. Firstly, to investigate the leadership behaviour of deputy directors of the Department of Agriculture and secondly, to establish how those leadership behaviour of deputy directors impacted on the employee morale of their subordinates. The study was conducted within the public administration environment and it was conducted using the leadership behaviour theory whose main assumption is that leadership is a relationship between the leader and the followers and as such, the behaviour of the leader has direct impact on the morale of the followers. The key leadership behaviour that were used for the study came from the Leadership Practices Inventory (LPI) survey instrument that was developed by Kouzes and Posner (2002) and five key factors were identified as central to the study of leadership behaviour for the purpose of this study. Firstly, leaders are expected to act exemplary (model the way) by ensuring that what they say is what they do. Secondly, leaders are expected to inspire a shared vision so that their followers are able to assimilate the vision being pursued. Thirdly, leaders are expected to challenge the existing institutional processes and systems so that all resources can be directed towards the realisation of the new vision. Fourthly, leaders are expected to enable their followers to act by creating an environment that is conducive to effective service delivery and fifthly, leaders are expected to encourage their followers to endure where challenges seem overwhelming so that followers should not be discouraged and give up. Since the study was conducted within the public administration environment, its main purpose was to discover how frequently do deputy directors engage in those five factors. The study yielded mixed results where in some of the factors, deputy directors engaged frequently whereas in the other factors, they had infrequent engagement. The participants to this study were grouped into three categories: deputy directors (as leaders being evaluated), and directors and subordinates (as observers). The study used the Likert scale where the data was interpreted by means of graphs. / Public Administration and Management

The study of leadership is one of those disciplines that invoke fierce debate among scholars and at the centre of the leadership debate lies the many approaches to the discipline that are employed by scholars and these approaches have led to different definitions of the discipline such as the trait theory of leadership, the behavioural theory of leadership and the contingent theory of leadership. This study was undertaken for two main reasons. Firstly, to investigate the leadership behaviour of deputy directors of the Department of Agriculture and secondly, to establish how those leadership behaviour of deputy directors impacted on the employee morale of their subordinates. The study was conducted within the public administration environment and it was conducted using the leadership behaviour theory whose main assumption is that leadership is a relationship between the leader and the followers and as such, the behaviour of the leader has direct impact on the morale of the followers. The key leadership behaviour that were used for the study came from the Leadership Practices Inventory (LPI) survey instrument that was developed by Kouzes and Posner (2002) and five key factors were identified as central to the study of leadership behaviour for the purpose of this study. Firstly, leaders are expected to act exemplary (model the way) by ensuring that what they say is what they do. Secondly, leaders are expected to inspire a shared vision so that their followers are able to assimilate the vision being pursued. Thirdly, leaders are expected to challenge the existing institutional processes and systems so that all resources can be directed towards the realisation of the new vision. Fourthly, leaders are expected to enable their followers to act by creating an environment that is conducive to effective service delivery and fifthly, leaders are expected to encourage their followers to endure where challenges seem overwhelming so that followers should not be discouraged and give up. Since the study was conducted within the public administration environment, its main purpose was to discover how frequently do deputy directors engage in those five factors. The study yielded mixed results where in some of the factors, deputy directors engaged frequently whereas in the other factors, they had infrequent engagement. The participants to this study were grouped into three categories: deputy directors (as leaders being evaluated), and directors and subordinates (as observers). The study used the Likert scale where the data was interpreted by means of graphs. / Public Administration and Management

Corporate interlocks between U.S. firms are a long-studied issue, and the apparent influence of these interlocks can be examined by applying theories of capitalism vs. the state arguments in examining the actual policy power that these interlocks potentially wield. This study investigates the link between corporate executives of the United States petroleum and military-defense industries, and examines the implications of the interlocking directorates that exist between these two industries, along with the strength of ties to government through former lawmakers and bureaucrats seated on these boards. The purpose of this research is to uncover evidence as to whether these interlocks and social network-ties are being utilized to further mutual interests of both these industries, along with the state, notably U.S.-led or U.S.-financed military or covert actions in petroleum-rich regions across the globe. The analysis reveals that interlocking directorates between the petroleum and defense industries show a high frequency of interlocks relative to other industries, along with a strong connection to government. This study points to the potential that oil-rich regions may have undergone U.S. military and covert interventions in an effort to not only gain access to petroleum, but to further the economic interests of the petroleum and defense industries. These findings lead to the conclusion that a real "Syriana," as in the plot of the 2005 film, may have been executed on two primary occasions during the George W. Bush administration. / Ph. D.

China has been undergoing economic reform and institutional transition from a planned economy to a market economy in the past twenty years. An important product of this is the emergence of interlocking directorates, a director who sit on multiple directorate boards of corporations. The formation of interlock network reflects the ongoing changes at economic, social and corporate levels. Its functioning mechanisms are also embedded within China's unique institutional environments. Given this background, this dissertation seeks to examine the corporate network of directorship interlocks in China, specifically with regard to the following three research questions. First, what is the corporate interlock network structure? Second, why do firms form directorship interlocks? And third, how does directorship interlock influence firm performance? / Cross-sectional data from 949 listed firms in 1999 and panel data from 284 listed firms spanning eight years (1994-2001) were employed to examine the interlock network structure and test the propositions. The results show that, first, directorship interlock network reflects the key structural features of Chinese economy. Second, the formation of interlocks reflects the inter-organizational demand and the demand of external interest group coalitions. Third, due to governance failure and institutional voids, interlock network acts as a social cohesion device and enables the emerging managerial class to exploit modern corporations to the detriment of shareholders' interests. This exploitation has dampened firm performance and economic growth. Such exploitation is constrained under concentrated ownership structure and under the ownership structure with high level of state ownership. / The dissertation contributes to the current literature in the following ways. First, it reports the first examination of the structural aspect of Chinese economy. Second, borrowing the conventional wisdom in directorship interlock literature, the dissertation incorporates China's unique institutional environments in examining the antecedents and consequences of directorship interlock, transcending the narrow theoretical synthesis of current interlock studies. Third, it highlights the complex "agency problem" that has emerged during the process of China's economic development---"managerial class exploitation." Fourth, it highlights the important role of a concentrated ownership structure and state ownership in constraining and facilitating the "managerial class exploitation". The dissertation provides significant insights in the fields of transitional economy, corporate governance, and directorship interlock network. / The dissertation makes four major propositions. First, the corporate network of interlocking directorates reflects key structural aspects of the Chinese economy. Second, directorship interlock may act as a strategy helping corporations to manage inter-organizational relationships and environmental uncertainty during the institutional transition. It may also act as a device for external interest groups to counterbalance the internal corporate power and exercise their control. Third, directorship interlock may perform two functions with opposing effect on firm performance. One is to act as an inter-organizational strategy to fill the institutional voids and enhance firm performance when the market fails. The other is to act as a social cohesion device to exploit institutional voids, facilitate managerial class exploitation, and dampen firm performance when governance fails. Fourth, ownership structure is an important factor in moderating directorship interlock network effects on firm performance during the institutional transition. / Ren Bing. / "August 2005." / Adviser: Kevin Au. / Source: Dissertation Abstracts International, Volume: 67-07, Section: A, page: 2653. / Thesis (Ph.D.)--Chinese University of Hong Kong, 2005. / Includes bibliographical references (p. 265-280). / Electronic reproduction. Hong Kong : Chinese University of Hong Kong, [2012] System requirements: Adobe Acrobat Reader. Available via World Wide Web. / Electronic reproduction. [Ann Arbor, MI] : ProQuest Information and Learning, [200-] System requirements: Adobe Acrobat Reader. Available via World Wide Web. / Electronic reproduction. Ann Arbor, MI : ProQuest Information and Learning Company, [200-] System requirements: Adobe Acrobat Reader. Available via World Wide Web. / Abstract in English and Chinese. / School code: 1307.

Mergers and acquisitions (M&A) evolved as alternative governance structures for firms seeking to combine resources with other firms, access larger markets, or acquire strategic assets. In spite of managers’ enthusiasm about the practice, studies show mixed results regarding post-acquisition performance of acquiring firms. The impact of acquisitions on the performance of acquiring firms has therefore remained inconclusive. A few reasons for this have been suggested and recent meta-analytic research efforts indicate that studies in M&A may have ignored variables that have significant effects on post-acquisition performance. In a bid to extend the literature on M&A and identify cogent variables that impact on acquisition performance, this dissertation draws on social network theory to advance a proposition for the value-of-ties. This was done by examining the impact of directorate interlocks on acquisitions specifically and organizational strategy in general. A non-experimental cross-sectional study of 98 interlocked directorate companies simultaneously involved in acquisitions was conducted. Several multiple regression analyses were conducted and the results obtained suggest that there is a positive linear relationship between director interlocks and post-acquisition performance and that to some extent this relationship is moderated by acquisition experience. The study also showed that director interlocks have a negative linear relationship with acquisition premium. This study complements the body of knowledge on acquisitions and network theory. It also successfully combined a multi-level approach to research on organizations and strategic management.

The goal of this dissertation thesis is to expand the current knowledge in the area of corporate governance in the Czech Republic. The document consists of several parts. First, a brief introduction to the field of corporate governance is provided. The introduction is followed by the analysis of the data sample in the context of corporate governance, and the search for a potential relationship between the implementation of the principles of corporate governance and financial performance of companies. The next part offers a theoretical introduction to the theory of networks with an emphasis on social and economic networks. In the final part, the empirical network of interlocking directorates in the Czech Republic is presented. The discussion is focused on the structure of the network and its comparison with structures in real business environment in the Czech Republic, and with similar networks from other countries.

Este trabalho tem por objeto a análise dos critérios de submissão de atos de concentração envolvendo fundos de investimento para apreciação pelo Conselho Administrativo de Defesa Econômica (CADE), com enfoque nos fundos de private equity. Nos últimos anos os fundos de investimento têm adquirido crescente importância na economia brasileira em setores estratégicos. No entanto, o tratamento pela autoridade antitruste brasileira das operações destes veículos se revela instável resultando em certa insegurança sobre quais devem ser submetidas ao controle de concentrações. Assim, este trabalho propõe uma forma de se acessarem essas operações que ao mesmo tempo atenda aos objetivos visados com o controle das estruturas no Direito Concorrencial brasileiro e não crie obstáculos à atuação destes importantes veículos para a economia moderna. Para tanto, buscou-se respaldo na experiência de países onde a tradição antitruste e o fenômeno analisado são muito mais antigos do que no Brasil. No entanto, uma vez que nem mesmo nestes países a questão está livre de revisões periódicas e alguma controvérsia, este trabalho não tem como pretensão apresentar uma solução definitva para o problema. O primeiro capítulo expõe o objeto de estudo, seu funcionamento e sua importância para a economia. No segundo capítulo são abordados os objetivos do controle de estruturas no Brasil, os critérios de conhecimento de operações pela autoridade concorrencial brasileira e a sua interpretação pelo CADE, notadamente no que toca aos fundos de investimento. No terceiro capítulo são abordadas as ligações estruturais entre concorrentes mais relevantes do ponto de vista concorrencial quando se trata de aquisições perpetradas por fundos de investimento: participações minoritárias e interlocking directorates. / The purpose of this dissertation is to analyze the requirements a transaction involving investment funds, notably private equity funds, shall meet to be subject to merger control by the Brazilian antitrust authority (CADE). In recent years, investment funds have gained increasing importance for the Brazilian economy in strategic sectors. However, the treatment of transactions involving these entities by the Brazilian antitrust authority is unstable resulting in uncertainty about which transactions should be subject to merger control. Therefore, this work proposes a way to access such transactions that both meets the objectives pursued with the merger control under the Brazilian antitrust law and does not create obstacles to the functioning of these important vehicles for the modern economy. To this end, we sought support in the experience of countries where the tradition of antitrust and investment funds is much older than in Brazil. However, since even in these countries the issue is subject to periodic review and some controversy, this work does not claim to present a definitive solution to the problem. Chapter one aims to present the subject matter, its operation and importance to the economy. Chapter two sets out the objectives of merger control in Brazil, the applicable thresholds and their interpretation by CADE, especially with regard to investment funds. Chapter three deals with the the most relevant structural links among competitors under the competitive point of view when it comes to investment funds: minority shareholdings and interlocking directorates.

Este trabalho tem por objeto a análise dos critérios de submissão de atos de concentração envolvendo fundos de investimento para apreciação pelo Conselho Administrativo de Defesa Econômica (CADE), com enfoque nos fundos de private equity. Nos últimos anos os fundos de investimento têm adquirido crescente importância na economia brasileira em setores estratégicos. No entanto, o tratamento pela autoridade antitruste brasileira das operações destes veículos se revela instável resultando em certa insegurança sobre quais devem ser submetidas ao controle de concentrações. Assim, este trabalho propõe uma forma de se acessarem essas operações que ao mesmo tempo atenda aos objetivos visados com o controle das estruturas no Direito Concorrencial brasileiro e não crie obstáculos à atuação destes importantes veículos para a economia moderna. Para tanto, buscou-se respaldo na experiência de países onde a tradição antitruste e o fenômeno analisado são muito mais antigos do que no Brasil. No entanto, uma vez que nem mesmo nestes países a questão está livre de revisões periódicas e alguma controvérsia, este trabalho não tem como pretensão apresentar uma solução definitva para o problema. O primeiro capítulo expõe o objeto de estudo, seu funcionamento e sua importância para a economia. No segundo capítulo são abordados os objetivos do controle de estruturas no Brasil, os critérios de conhecimento de operações pela autoridade concorrencial brasileira e a sua interpretação pelo CADE, notadamente no que toca aos fundos de investimento. No terceiro capítulo são abordadas as ligações estruturais entre concorrentes mais relevantes do ponto de vista concorrencial quando se trata de aquisições perpetradas por fundos de investimento: participações minoritárias e interlocking directorates. / The purpose of this dissertation is to analyze the requirements a transaction involving investment funds, notably private equity funds, shall meet to be subject to merger control by the Brazilian antitrust authority (CADE). In recent years, investment funds have gained increasing importance for the Brazilian economy in strategic sectors. However, the treatment of transactions involving these entities by the Brazilian antitrust authority is unstable resulting in uncertainty about which transactions should be subject to merger control. Therefore, this work proposes a way to access such transactions that both meets the objectives pursued with the merger control under the Brazilian antitrust law and does not create obstacles to the functioning of these important vehicles for the modern economy. To this end, we sought support in the experience of countries where the tradition of antitrust and investment funds is much older than in Brazil. However, since even in these countries the issue is subject to periodic review and some controversy, this work does not claim to present a definitive solution to the problem. Chapter one aims to present the subject matter, its operation and importance to the economy. Chapter two sets out the objectives of merger control in Brazil, the applicable thresholds and their interpretation by CADE, especially with regard to investment funds. Chapter three deals with the the most relevant structural links among competitors under the competitive point of view when it comes to investment funds: minority shareholdings and interlocking directorates.