Corporation governance, performance and CEO turnover evidence from listed companies in China
- Authors: Pi, Lili , Lowe, Julian , O'Connor, Christine
- Date: 2004
- Type: Text , Conference paper
- Relation: Paper presented at the 4th Teaching, Learning and Research Conference (IERA), Ballarat, Australia : 22nd - 25th November, 2004
- Full Text: false
- Reviewed:
- Description: E1
- Description: 2003000813
Innovation and change in the Victorian fine art cluster
- Authors: Giblin, Deidre , Lowe, Julian
- Date: 2007
- Type: Text , Conference paper
- Relation: Paper presented at 4th International AGSE Entrepreneurship Research Exchange: Regional Frontiers of Entrepreneurship Research 2007, Brisbane Graduate School of Business, Queensland University of Technology, Queensland : 6th-9th February 2007
- Full Text: false
- Description: Principal Topic: This research is investigating the scope and relationships of the fine arts and associated sectors before, during and after disruption of the National Gallery of Victoria’s (NGV) core activities over the period 1999 to 2003. The significance of the research is to examine the effect of the NGV’s scaled down operations and understand what happens to an industry and business relationships when a key player moves out of and then re-enters a market. The NGV has long been a dominant figure within the Victorian fine art cluster and, for the purpose of this research, has been used to investigate the way small / medium enterprises (SMEs) may be affected when a key player (one that has in the past dominated the cluster) is forced temporarily to assume a weaker role. The research focuses on the interactions and inter relationships between the NGV and SMEs specifically and the repercussions of dislocation within the cluster. The investigation will determine if the NGV’s dislocation and consequent re-entry as two separate entities has a bearing on the innovation and system behaviour of the cluster and its consequent adaptability to change in a turbulent environment. The fine art cluster together with other cultural enterprises are part of the Victorian cultural environment which has been experiencing turbulent times over the past decade (1995 to 2005) due to the Federation funds that were made available by the Australian and state governments. Specifically Melbourne’s cultural landscape changed extensively due to the high incidence of development that occurred. The speed of change was also a significant factor as the Federation funding meant that everything had to open before 2001, that is, before the centenary of Federation. The level of change in Victoria’s cultural landscape was not only in its physical infrastructure but also ensured dramatic organisational change within the institutions. The extent of the turbulence faced by the cultural institutions during this period of change demonstrates that the fine art and cultural art clusters were seen to be laggards, ’latent clusters ’ (Rosenfeld 1997:11) or ’defenders’ (Slater and Olsen 2000) in terms of governance processes, internal organisational structure, processes, management styles and innovation. The Federation funds offered an opportunity for a consistent redevelopment strategy, which was a catalyst for change in the fine art and cultural clusters that might not otherwise have happened. Methodology/Key Propositions: This longitudinal study undertaken over five years will analyse the nature of the market place as well as the interactions and relationships between players. The impact on this market or cluster will then be observed and compared over four stages, that is, before the NGV closed for refurbishment, during the period of dislocation, upon re-entry of the restructured NGV as two separate entities and 18 months after its re-entry. These investigations will not only help illuminate changes in the functional characteristics and relationship between the NGV and SMEs, but most importantly will answer the fundamental premise that the fine art cluster does exist. The question to ask is, do the institutions and their behaviour over this period of time ’fit’ within the definition of a cluster? A cluster has been defined as a complex system capable of initiating a synergetic process where interconnected organisations and associations are linked by commonalities, complementarities and rivalry. The interconnections between cluster members can be explicit and implicit, that is, as informal social systems or as formal structures. A second aspect of a cluster is that of proximity which may be geographic or functional. This connectivity and synergy transforms the local experience of each member where they can be expected to define their relations vis-`a-vis rivals and with markets. Consequently, the position a cluster member occupies is a matter of great strategic importance and reflects its power and influence and how it may influence the actions of other actors. The significance of this study lies in two areas. First, it is about the key player closing down and reopening as two separate entities (operational innovation). Second, the fine art cluster has a different dynamic from other clusters in that the main player derives its power from its expertise, trust and legitimacy; that is, its reputation. There is a focus on the intangible values of the product and its peripheral services, rather than its control through product and product innovation. In this case the dimension investigated is innovation since the aspect of cluster functioning under investigation is how clusters can provide an environment where change is either actively enhanced or standardized (through incremental innovation). An individual firm’s innovative status (ie accumulated knowledge and continuity of innovative activity), it’s networking activity and knowledge transfer channels as well as the information and management behaviour of the firm determine a cluster’s propensity to be innovative (Spielkamp and Vopel 1999). Hence, the key question for research needs to determine the nature of the cluster’s operations and inter-relationships, that is, does dislocation of the dominant player affect the way the fine art cluster operates (that is, level of innovation) and change the inter-relationships between members? Results and Implications: This research will provide information on how fine art businesses, including some that are competitors, interrelate, and if the dominant player’s dislocation and consequent re-entry has a bearing on the innovation and system behaviour of the cluster. The NGV’s 1999 to 2003 redevelopment and consequent scaled down operation provides a unique opportunity to examine the effects of dislocation of the dominant player on the way a cluster functions and its propensity to be innovative.
- Description: 2003005187
Charting a future for SMEs : Revolution or evolution?
- Authors: Lowe, Julian , Harman, Jessie
- Date: 2004
- Type: Text , Journal article
- Relation: Small Enterprise Research - The Journal of SEAANZ Vol. 12, no. 1 (2004), p. 2-4
- Full Text: false
- Reviewed:
- Description: 2003003725
An emerging model of absorptive capacity in China
- Authors: Lowe, Julian , Tian, Feng
- Date: 2006
- Type: Text , Conference paper
- Relation: Paper presented at R&D Management Conference 2006, Lake Windermere, Cumbria : 5th-7th July 2006
- Full Text: false
- Description: This research is about the take – up of Western ideas and Western knowledge in Chinese organizations. The research addresses the fundamental issues for Chinese companies as recipients of the knowledge and also addresses the issues of understanding knowledge diffusion processes and the strategic management of growing an organization that is based, partly, on externally sourced capital and technology. Specifically, using the Cohen and Levinthal (1990) notion of absorptive capacity (ACAP), the paper reports on some preliminary findings on ACAP in China, and sets out a model that will be used for further empirical work.
- Description: 2003004652
Being smart and being green : Entrepreneurial innovation in challenging times
- Authors: Braun, Patrice , Lowe, Julian
- Date: 2009
- Type: Text , Conference paper
- Relation: Paper presented at 32nd Institute for Small Business & Entrepreneurship Conference, ISBE 2009, Liverpool, UK : 3rd-6th November 2009
- Full Text:
- Description: In difficult times business operators are looking for clever and affordable ways to grow their enterprises. This paper seeks to make a contribution to a better understanding of proactive environmental and innovation strategies for SMEs and the interaction between demand and supply towards sustainable and innovative business practices. The paper discusses the combined outcomes of the exit survey of a greening small business 2008 pilot program and the entry survey for the 2009 online training and networking version of the program, which fuses environmental, business and ICT- enabled skilling to enhance both SME entrepreneurship and innovation. The study suggests that SME business sustainability cannot be reduced to an oversimplified business case and that pro-environmental strategy adoption and behaviour, and particularly behavioural change, is highly complex. The outcomes of this research are expected to contribute to good practice in environmental and innovation skilling for SMEs, especially skilling that differentiates between supply and demand side skilling and brings together the two sides in a proactive resource acquisition, knowledge transfer and networking environment.
- Description: 2003007572
A case study of clustering in regional Australia : Public policies and private action
- Authors: Lowe, Julian , Thompson, Helen , Lynch, David , Braun, Patrice
- Date: 2006
- Type: Text , Conference paper
- Relation: Paper presented at the 30th annual conference of the Australian and New Zealand Regional Science Association International, Beechworth, Victoria : 26th September, 2006
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- Reviewed:
- Description: The paper starts with an evaluation of a group of ICT organizations in a regional Victorian town and using a range of qualitative and quantitative data evaluates whether there is a cluster emerging and if so what are the processes of clustering that underpin this. Using archival and interview data the paper then examines key events and turning points in the development of what might be identified as a nascent cluster (Rosenfeld, 1997). In the context of current public policy that directly or indirectly supports ‘clustering’, the paper then assesses the effectiveness of public policy versus private action in the development of regional agglomerations of organisations and institutions that may be called clusters.
- Description: E1
- Description: 2003001802
Small business clustering : The benefits of local network learning
- Authors: Braun, Patrice , McRae-Williams, Pamela , Lowe, Julian
- Date: 2005
- Type: Text , Conference paper
- Relation: Paper presented at the APEC Symposium on SME Clustering, Taiwan : 8th March - 10th, 2005
- Full Text: false
- Reviewed:
- Description: E1
- Description: 2003001221
The shareholder's structure and CEO turnover in Chinese listed companies
- Authors: Zhao, Chao , Lowe, Julian , Pi, Lili
- Date: 2005
- Type: Text , Journal article
- Relation: Reform Vol. 131, no. 1 (2005), p. 93-100
- Full Text: false
- Reviewed:
- Description: C1
- Description: 2003001142
Economic clusters, new venture creation and growth
- Authors: McRae-Williams, Pamela , Lowe, Julian , Taylor, Peter
- Date: 2005
- Type: Text , Journal article
- Relation: Regional Frontiers of Entrepreneurship Research Vol. 2, no. (2005), p. 135-148
- Full Text: false
- Reviewed:
- Description: C1
- Description: 2003001145
The nature of the regional SME
- Authors: Lowe, Julian , Henson, Sam
- Date: 2006
- Type: Text , Journal article
- Relation: Small enterprise research: The journal of SEAANZ Vol. 14, no. 1 (2006), p. 64-81
- Full Text: false
- Reviewed:
- Description: In this paper, theories of strategic competitiveness are used as the building blocks for alternative models of the regional firm. These models are used to develop a typology of firms that attempts to explain the fit between a small firm and its regional location. The standard theories based on "industry organization", "resources", and "dynamic capabilities" explain much of the variation observed in the case studies , however a more complete coverage of the regional effects on the nature of firm organization and strategy are provided by introducing "evolutionary" and "infrastructure" based paradigms. The typology is illustrated and discussed, using findings from a qualitative, case-based study of small, Western Victorian firms. Economic and social activity in many regional areas of Australia and the world is in decline, and regional enterprises are an important target of many policy initiative designed to rejuvenate and sustain regions. But what is the nature of regional firms, and what drives their successful development and competitiveness?
- Description: C1
- Description: 2003001724
Trust in rural areas
- Authors: Braun, Patrice , Lowe, Julian
- Date: 2005
- Type: Text , Conference paper
- Relation: Paper presented at the 2nd National Conference on the Future of Country Towns, Bendigo, Australia : 11th July, 2005
- Full Text:
- Reviewed:
- Description: E1
- Description: 2003001148
Firm Performance, corporate governance, and CEO turnover : An empirical study from China
- Authors: Pi, Lili , Lowe, Julian , Zhao, Chao
- Date: 2009
- Type: Text , Conference paper
- Relation: Paper presented at 23rd ANZAM Conference 2009: Sustainable Management and Marketing, Melbourne, Victoria : 1st-4th December 2009
- Full Text: false
- Description: This study examines the impacts of firm performance and mechanisms of corporate governance on CEO turnover by using a sample of 325 companies listed on the Chinese stock markets over the ten-year period 1997-2006. A negative relationship between CEO turnover and firm performance has been found in this study. For mechanisms of corporate governance, the proportion of independent directors is negatively associated with CEO turnover. Similarly, serving as the representative of the largest shareholder in the company significantly reduces the likelihood of CEO turnover, While CEO turnover is unrelated to whether CEOs are representatives of any other top ten largest shareholders. Moreover, neither CEOs’ shareholdings nor state shareholdings influence CEO turnover.
- Description: 2003007599
Beyond clusters : Current practices & future strategies
- Authors: Lowe, Julian , Braun, Patrice , McRae-Williams, Pamela
- Date: 2005
- Type: Text , Conference proceedings
- Full Text: false
- Description: "These conference proceedings document the research of participants and include topics specific to clusters, networks, regional development, information and communication technologies, and competitiveness." -- Preface.
Managing community relationships and corporate reputation - A stakeholder perspective
- Authors: Tuck, Jacqueline , Lowe, Julian , McEachern, Steven
- Date: 2006
- Type: Text , Conference paper
- Relation: Paper presented at International Mine Management 2006, Carlton, Victoria : 16th October, 2006 p. 305-313
- Full Text: false
- Reviewed:
- Description: This paper reports on an ongoing research program to evaluate the impact a mining company's reputation(s), with its various stakeholder groups, has on a company's ability to sustain competitive advantage. Integral to this study is to develop an understanding of the relationships between mining companies and their stakeholders, and the importance of corporate citizenship policies to reputation and hence to corporate sustainability.
- Description: E1
- Description: 2003001814
Small firms and regional towns : Towards a typology
- Authors: Lowe, Julian , Henson, Sam
- Date: 2005
- Type: Text , Conference paper
- Relation: Paper presented at the 2nd National Conference on the Future of Australian Country Towns, Bendigo, Australia : 11th -13th July, 2005
- Full Text:
- Reviewed:
- Description: The dominant forms of enterprise in Small Towns are, not surprisingly, small firms. But are these small firms different to their metropolitan counterparts, and are these differences related to their location in regional towns? In addition, are these regional small firms governed by different rules and principles? Overseas studies, generally focusing on firm start-ups, have identified differences between regional and urban enterprises, but the differences are usually small (Westhead, 1995). The explanatory variables identified vary from study to study but include access to finance, physical resources, employment levels, population density, industry structure, regional externalities, human capital, knowledge spillovers, and resource munificent regions as possible explanations for the variations (Armington & Acs, 2002; Keeble, 1997). In this paper, the basic proposition is that regional firms in Australia may be different, but they are not necessarily disadvantaged. Focusing on issues of firm behaviour and competitiveness the paper presents a typology of firms that attempts to explain the fit between a small firm and its regional location. The typology is illustrated and discussed, using preliminary findings from a qualitative, case-based study of small, Western Victorian firms.
- Description: E1
- Description: 2003001146
Understanding the regional demand for ambulance services
- Authors: Lowe, Julian
- Date: 2006
- Type: Text , Conference paper
- Relation: Paper presented at 2006 ANZRSAI Conference, Beechworth, Australia : 26th September, 2006 p. 208-218
- Full Text: false
- Reviewed:
- Description: E1
- Description: 2003001799
Marketing in a fast growth new venture : Is entrepreneurial marketing different?
- Authors: Lowe, Julian , Lowe, Ben
- Date: 2004
- Type: Text , Conference paper
- Relation: Paper presented at the ANZMAC 2004 Marketing Accountabilities and Responsibilities Conference, Wellington, New Zealand: 29th November, 2004
- Full Text: false
- Reviewed:
- Description: E1
- Description: 2003000999
Economic clusters, entrepreneurship and innovation
- Authors: McRae-Williams, Pamela , Lowe, Julian , Taylor, Peter
- Date: 2005
- Type: Text , Conference paper
- Relation: Paper presented at the 2005 Annual High Technology Small Firms Conference, Melbourne : 10th February, 2005
- Full Text: false
- Reviewed:
- Description: E1
- Description: 2003001177
The determinants of capital structure in Chinese listed companies
- Authors: Shen, Gensheng , Lowe, Julian , Da Shu, Wang
- Date: 2009
- Type: Text , Book
- Full Text: false
- Description: Traditional financial theories see capital structure as a result of mainly financial, tax and growth factors (Modigliani & Miller, 1958). But corporate governance theories (Jensen & Meckling, 1976) and business strategy theories (Barton & Gordon, 1988) suggest that ownership structure and ownership concentration, product diversification and asset specificity may also influence capital structure. Focusing on the examination of the determinants of capital structure in Chinese listed companies, this research goes beyond financial factors and considered business strategy and corporate governance approaches, and their impact on capital structure, in a transitioning Chinese context where institutions, expertise and regulatory processes are different to, but converging on, Western approaches. A panel data set of 1,098 Chinese listed companies for the period of 1991 to 2000 was collected from published sources, and conventional and innovative econometric methodologies were used to model a range of relationships between capital structure and its financial and non-financial determinants. The statistical approaches used in this study included Ordinary Least Squares Model and also Linear Mixed Model, which is a powerful tool to examine panel data where independence of explanatory variables is not assumed. The analysis also involved Hox’s model building procedures to measure model fit. The capital structure of listed companies in both the Shenzhen Stock Exchange and the Shanghai Securities Exchange is positively related to a firm’s tax rate, growth and capital intensity and negatively related to a firm’s profit and size. Other financial factors such as tangibility, risk and duration are non-significant. The capital structure of listed companies, particularly in the Shenzhen Stock Exchange, is positively related to product diversification and negatively related to asset specificity. The capital structure of listed companies in the Shanghai Securities Exchange is positively related to government ownership and ownership concentration of the largest shareholder and negatively related to legal person ownership and ownership concentration of the ten largest shareholders. The data and modelling support financial and non-financial determinants of capital structure. In particular, information asymmetry, business diversity and asset specificity have a significant impact on capital structure. In addition the empirical work in the study supports agency cost explanations of debt and equity. Finally the research demonstrates that the two main financial markets in China, Shenzhen and Shanghai, have operated differently but are converging towards a common norm. The research contributes to the general field of capital structure and provides valuable insights into the nature of the Chinese firm and the evolution of the Chinese financial system.
- Description: 2003006320
Building sustainable community businesses : A strategy for success
- Authors: Harman, Jessie , Campbell, Dianne , Lowe, Julian
- Date: 2004
- Type: Text , Conference paper
- Relation: Paper presented at 10th International Research Symposium on Public Management, Glascow, Scotland :
- Full Text: false
- Description: E1
- Description: 2003003710