General Yue Fei has long been considered a symbol of loyalty and resistance in Chinese history. His legend has been circulating in various forms since the twelfth century. In the context of the emerging women-authored tanci narratives and the political disorder of late 19th century China, this article examines how the gentry woman author Zhou Yingfang 周颖芳 (1829–95) enriches the narratives of Yue Fei by inserting a number of domestic themes into her tanci adaptation. She redefines the virtues of both genders and expects transformed family dynamics. In considering scholarly interpretations of the tanci in the modern period, this article also argues that the May Fourth scholars tended to neglect and/or suppress Zhou Yingfang’s gendered consciousness in her alternative imagination of history.

In: Frontiers of Literary Studies in China

Abstract

This is an empirical study in the field of general education evaluation. Using data collected from three elite Chinese universities where general education is emphasized and promoted at institutional level, this study investigates the impacts of student background and extracurricular activities on student performance measured from the perspective of general education objectives, i.e., critical thinking, creativity, value judgment, decision-making, and communication skill. Female students perform significantly better in value judgment and decision-making, and students with higher socioeconomic status perform significantly better in decision-making and communication skill. Students with art talent perform significantly better in all the five skills. And high quality extracurricular activities are found to have positive effect on these skills, too.

In: International Journal of Chinese Education
In: Chinese Research Perspectives on the Environment, Special Volume

Abstract

Persistent expectations of renminbi (rmb) devaluation are one of the greatest threats to China’s macroeconomic stability. Market interventions backed by huge foreign exchange reserves and capital controls are not sufficient to eliminate the expectations of devaluation. Creating a market-based and flexible rmb exchange rate regime would be a key solution. The present paper compares the pro and cons of several policy options for eliminating devaluation expectations, and proposes to introduce, as a transition to a free-floating regime, a new exchange rate regime pegged to a currency basket with a wide band. The new regime should be able to give the rmb exchange rate enough flexibility to eliminate devaluation expectations and prevent excessive overshooting. To ensure a smooth transition, the new regime needs to be supported by some necessary controls over cross-border capital flows.

In: Reconstructing China’s Participation in the Global Order

Based on data of A-shares listed companies in China, this paper studies the relationship between managerial overconfidence and firms’ overinvestment behaviors. We first define a manager as an overconfident one if his or her company’s announced earnings forecast is higher than its actual earnings at least once in 2002-2004. After controlling such factors as growing opportunity, size, etc., we find that overconfident managers tend to over-invest and their overinvestment behaviors have higher sensitivity to cash flow generated by financing activities. In other word, when their firms obtain an abundant cash flow from financing activities, overconfident managers will over-invest, or vise versa. Contrary to other relevant studies, we find that the sensitivity between over-investment and free cash flow has little to do with managerial overconfidence. Robustness testing is conducted to verify the reliability of our conclusions. We also use “whether top managers increase their holdings of company shares within the observation period” as a substitute variable for managerial overconfidence and run the tests again, and the results are consistent with the above. Finally, findings of this paper indicate that it is necessary for firms to establish a scientific and rigorous investment managing mechanism.

In: Frontiers of Business Research in China

Based on data of A-shares listed companies in China, this paper studies the relationship between managerial overconfidence and firms’ overinvestment behaviors. We first define a manager as an overconfident one if his or her company’s announced earnings forecast is higher than its actual earnings at least once in 2002-2004. After controlling such factors as growing opportunity, size, etc., we find that overconfident managers tend to over-invest and their overinvestment behaviors have higher sensitivity to cash flow generated by financing activities. In other word, when their firms obtain an abundant cash flow from financing activities, overconfident managers will over-invest, or vise versa. Contrary to other relevant studies, we find that the sensitivity between over-investment and free cash flow has little to do with managerial overconfidence. Robustness testing is conducted to verify the reliability of our conclusions. We also use “whether top managers increase their holdings of company shares within the observation period” as a substitute variable for managerial overconfidence and run the tests again, and the results are consistent with the above. Finally, findings of this paper indicate that it is necessary for firms to establish a scientific and rigorous investment managing mechanism.

In: Frontiers of Business Research in China
In: Spotlight on China

In light of a series of ethical scandals in China in recent years, this research aims to develop a reliable and valid scale to measure ethical leadership, namely the “ethical leadership measure (ELM).” Our results show that ELM is strongly and positively correlated with scales for authentic leadership, ethical leadership, idealized influence, and a recently-developed leadership virtues questionnaire (LVQ); and negatively correlated with laissez-faire leadership and passive management by exception. ELM is also found to be positively related to followers’ job satisfaction, affective commitment, trust in leader, organizational citizenship behavior, and moral identity, and negatively related to followers’ intention to quit.

In: Frontiers of Business Research in China