Applying Z-score model to distinguish insolvent construction companies in China

Fierce competition in the construction industry in China in recent years has brought many challenges to construction contractors. It is important that any potential company insolvency be recognized at the earliest opportunity. Using financial ratios and the Altman Z-score modelling methodology, an insolvency warning model is developed in order to evaluate the performance of construction contractors in China. The model derived from this study has consistent predictability based on a three-year window of data. It combines seven financial ratios, covering a company’s finance of operation, profitability, solvency and cash flow. A single performance index is derived to differentiate whether a company has good financial standing or exhibits characteristics of insolvent companies. A mechanism to detect insolvent contractors is proposed for sustaining corporate development in construction. It is recommended for a contractor to develop a complete precaution system of financial crisis and have a regular checking of the key financial ratios as well as operation status so as to avoid insolvency.     

The double-edged sword of CEO/chairperson duality in corporatized state-owned firms: evidence from top management turnover in China

This study examines how board leadership structure (CEO duality) affects the corporate governance of corporatized state-owned firms where the state shareholders use these firms to serve both profit and non-profit objectives. We propose that CEO duality will generate a positive (negative) significant impact on the firms’ corporate governance when state owners tend to monitor their CEOs on the basis of profit (non-profit) considerations. We test our hypotheses by examining the relations between CEO duality and CEO turnover in Chinese listed companies that are ultimately controlled by central or local governments. We find that CEO duality is negatively related to turnover in marginal profit-making firms where turnover would be value-enhancing. This suggests that CEO duality is detrimental to these firms’ corporate governance because it entrenches relatively poorly performing CEOs. Duality is also negatively related to turnover in high-profitability firms where turnover would be non-value-enhancing. This suggests that CEO duality might positively contribute to the corporate governance of these firms by reducing the occurrence of non-value enhancing turnover. Overall, our study suggests that CEO duality is a double-edged sword in corporatized state-owned firms.     

QRA Model‐Based Risk Impact Analysis of Traffic Flow in Urban Road Tunnels

Road tunnels are vital infrastructures providing underground vehicular passageways for commuters and motorists. Various quantitative risk assessment (QRA) models have recently been developed and employed to evaluate the safety levels of road tunnels in terms of societal risk (as measured by the F/N curve). For a particular road tunnel, traffic volume and proportion of heavy goods vehicles (HGVs) are two adjustable parameters that may significantly affect the societal risk, and are thus very useful in implementing risk reduction solutions. To evaluate the impact the two contributing factors have on the risk, this article first presents an approach that employs a QRA model to generate societal risk for a series of possible combinations of the two factors. Some combinations may result in F/N curves that do not fulfill a predetermined safety target. This article thus proposes an “excess risk index” in order to quantify the road tunnel risk magnitudes that do not pass the safety target. The two‐factor impact analysis can be illustrated by a contour chart based on the excess risk. Finally, the methodology has been applied to Singapore's KPE road tunnel and the results show that in terms of meeting the test safety target for societal risk, the traffic capacity of the tunnel should be no more than 1,200 vehs/h/lane, with a maximum proportion of 18% HGVs.     

Cooperation, cost control and consumer focus are critical challenges for health care.

As we move into the 21st Century, the U.S. health care system faces tremendous challenges such as care for an aging and increasingly diverse population, escalating costs and limited resources. Government, consumers, hospitals and the insurance industry are positioning themselves for the future. Physicians need to do the same. Physicians must come to the table and assert leadership by working collaboratively with major stakeholders. Examine some steps that need to be taken to help shape the future of medicine.     

Mutuality in leader–subordinate empowerment expectation: Its impact on role ambiguity and intrinsic motivation

Drawing on leader role set theory, we examine the relationship between the congruence of leaders' and subordinates' empowerment expectations and subordinates' experiences of role ambiguity and intrinsic motivation. Based on cross-level polynomial regression analysis using 168 subordinates and 33 leaders, the results indicated that the relationship between congruence and role ambiguity and intrinsic motivation vary depending on whether leaders misevaluate subordinate empowerment expectations, as well as whether the expectations match. Specifically, subordinates had low role ambiguity and low intrinsic motivation when leaders' and subordinates' empowerment expectations matched at low levels and when leaders underestimated subordinates' empowerment expectations. However, subordinates had low role ambiguity and high intrinsic motivation when expectations matched at high levels. Furthermore, role ambiguity was high and intrinsic motivation was low when the leaders overestimated subordinates' empowerment expectations. Theoretical and practical implications are discussed.     

Understanding and Utilizing Parallel Processes of Social Interaction for Attachment-based Parenting Interventions

In an effort to meet both the parenting and treatment needs of substance-abusing women who are parents, residential drug treatment programs have been struggling to find the best approach. A qualitative-quantitative study of the parenting experience of mothers in residential drug treatment programs housing both mothers and their children found that relational processes characterized how these mothers perceived parenting as well as treatment. The findings presented the interplay and mutuality between a mother’s interactions (natural or facilitated) with the external social world that includes her child and those connected to the treatment facility and the internal formation of her sense of herself, her child, and others, along with the changes in both areas that took place in the facility. These findings lend important support to the use of attachment-based parenting interventions in residential drug treatment programs by drawing on these relational processes.

Social Bookmarking–Repository–Networking: Possibilities for Support of Teaching and Learning in Higher Education

Social bookmarking, repositories, networking, and other Web 2.0 technologies have the capacity to engage enormous numbers of ordinary people in networking, sharing, and working with digital resources. The Faculty of Education at The University of Hong Kong has been pioneering new educational applications. Through grants from the University we have developed a social bookmarking and repository system based on Web 2.0 ideas. RISAL—Repository of Interactive Social Assets for Learning has an unrealized potential to support teaching and learning at the University level. It is designed to facilitate and encourage sharing and collaboration of teachers and students with similar interests or learning foci across levels and programs. This form of learning support builds on and encourages the Web 2.0 culture of social networking and contribution of the individual to the community. In addition, the system is designed to incorporate compliance with Hong Kong's Copyright Ordinance (Creative Commons). The authors discuss the RISAL and describe its features and benefits that this system can offer to teaching and learning.     

Taiwanese Immigrant Entrepreneurs in Canada and Transnational Social Space

This article explores the migration of Taiwanese immigrant entrepreneurs to Canada and their transnationalism. Their presence in Canada is documented and described with statistical data on their demographic characteristics, human capital, and economic capital. An assessment of their transnationalism is provided by primary qualitative data gathered through in‐depth interviews. Overall, the review of the literature on Taiwanese migration to various countries, and their transnationalism, indicates that research has primarily been conducted in Australia and the United States, while it remained understudied in Canada. The article makes a case for contextualizing Taiwanese entrepreneurial migration in terms of a global immigration marketplace and the specific business migration programmes in Australia, United States, and Canada. Further, the article argues for the appropriateness of conceptualizing these Taiwanese entrepreneurs as operating within the theoretical framework of transnational social space. The findings on transnational social space include the importance of transnational familial networks, transnational business circuits, and transmigration. Transnational familial networks constitute a form of “capital” as the dispersal is a “resource”. The transnational business circuits include three types: (1) Asian production‐North American distribution; (2) retail chains; and (3) import‐export, all spatially distributed with their multiple national sites. In selected areas of the presentation and discussion of the data the policy implications of the findings are explored. These include discussion of the implications of this transnationalism on Canadian policies such as immigration, multiculturalism, business development, international trade, economic development, and citizenship. There is clearly a lack of harmonization among migration policy and other social and economic policies in Canada. While Canadian multiculturalism policy facilitates transnationalism, Canadian citizenship policy is shown to conflict with and discourage transnational practices.     

Collaboration in foundation grantor‐grantee relationships

Foundations take many forms and wield widespread influence within the nonprofit sector. One aspect of foundations that has received limited research attention is the relationship between the foundation and the grantee. Some authors have encouraged a reframing of this relationship to be more one of equals, where each party brings attributes valuable to the other and where collaboration can germinate and produce more effective philanthropy. This exploratory study suggests that the quality of these relationships varies widely and that it is often difficult to form collaborative ones. It identifies some of the earmarks of fruitful relationships and suggests some ways to replicate those successes. I hate foundation officers—they're all jerks! —Experienced nonprofit executive We care about these [nonprofit] organizations—it is through them that we do our work. —Senior foundation program officer