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Some Western business leaders are moving into China without any clear knowledge of the many pitfalls they will encounter: the weak rule of law, forceful governmental intervention, a scarcity of managerial talent, the likelihood of counterfeiting, the fast paced business environment and surprisingly aggressive local competitors. This book uses case studies to both illuminate and examine these key managerial challenges. Each case focuses on a specific topic and is complemented with commentaries from professors and executives who have extensive front-line experience in China. The cases are the product of three-year research and are well-tested in MBA and executive courses. The authors' philosophy is that readers can learn most effectively through the experience of others captured in real cases! The book includes a broad range of companies, such as Emerson, Eli Lily, General Motors, Peugeot, Carrefour, Daimler-Chrysler, Picanol. It also includes more personal experiences concerning the many challenges of expatriate-living in China , some of whom have started their own businesses. The book provides concise but insightful analysis to help readers to get the most from the case studies. As a result, this book will help you get better prepared to face the varied challenges you will find in China. These cases complement the material presented in a previous work, China CEO: Voices of Experience from 20 International Business Leaders, also published by John Wiley & Sons.

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The call for corporate social responsibility is steadily escalating in the corporate agenda. Previous studies on the determinants of Corporate Social Performance (CSP) point to factors including the size of firms and the nature of industries, as well as the commitment of the leadership. This study explores how attributes of chief executives in Malaysia may affect the formulation and implementation of socially responsible policies and programmes of organizations. The suggestion is that companies with Malay chief executives demonstrate higher corporate social performance levels than companies with Chinese chief executives; and that the age of chief executives is a significant predictor of the CSP level. However, the education background of the chief executives has no noticeable effect on the level of CSP.

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Corporate social responsibility (CSR) as a common business practice has only recently established a foothold in developing countries. This is evidenced by a lack of literature in the area of CSR among these countries. In Malaysia, for instance, only a third of large businesses can be considered CSR active. The purpose of this paper is to determine if there is a link between CSR performance and financial performance among these large businesses. We compare the monthly average returns of a portfolio of CSR active companies (based on disclosure) against a portfolio of inactive CSR companies as well as against the market, represented by the Kuala Lumpur Stock Exchange Composite Index (KLSE-CI). Both risk unadjusted and risk adjusted returns were utilized in this study. In either case, we do not find strong statistical evidence to show that our CSR portfolio outperforms the market; neither does it beat the non-CSR portfolio. Nevertheless, based on the results obtained by similar studies in the US, UK and Australia, there is reason to believe that CSR active companies may outperform their counterparts when consumers, employees and other stakeholders increase the value they place on socially responsible activities of a firm. Our findings also imply that international investors looking for socially responsible companies in developing companies to invest in need not incur significant opportunity costs when carrying out their investment strategies. Given that developing countries like Malaysia feature strongly in international investment portfolios like the Morgan Stanley International Composite Index (MSCI), socially responsible investors could extend their portfolios internationally without compromising their rate of returns.

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corporate social responsibility ;  CSR ;  financial performance ;  Malaysia

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In a globalized business world it is often necessary to compare companies across national boundaries. This comparison often includes an examination of financial statements. While the harmonization of accounting standards continues to progress, there still remain differences in how accounting information is reported between companies located in different countries, especially with regard to the format used to present the balance sheet. It is consequently important that students be able to both identify these differences, and have a method for coping with them. Using three oil and gas firms from three different countries (Exxon in the United States, Sinopec in China, and Total in France), this paper provides a setting for students to identify differences in balance sheet formats across countries. The paper then introduces a standardizing model—the Statement of Financial Structure—that enables students to cope with these differences. In working with this Statement, students develop their financial analysis skills. In particular, the concept of working capital is reinforced, as is the importance of understanding the local business environment in order to interpret the numbers and ratios within the proper context.

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《呼唤法治的市场经济》收录了世纪之交以来作者的五十余篇文章，这些文章从理论和政策层面分析了当前社会病害的制度根源，指出权贵资本主义的危险，呼吁切实推进改革，建立公正法治的市场经济制度，对于传统社会主义经济和政治体制的捍卫者提出的一些重大问题，作者也做出了回答和辨析，希望与正在严肃思考中国的前途与未来的人们共同切磋。

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Book review

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La communication présente les résultats d'une recherche empirique destinée à décrire les méthodes de calcul des coûts de revient de cinq entreprises industrielles chinoises. Elle révèle des systèmes de calculs très simples, basés sur les coûts directs, présentant des faiblesses visibles et peu pertinents en regard des besoins du management de ces entreprises. Elle explore ensuite deux hypothèses permettant d'expliquer la faible maturité des systèmes de calcul des coûts dans ces entreprises : la première s'appuie sur des travaux historiques et sur l'environnement concurrentiel chinois, la seconde sur les caractéristiques culturelles des managers chinois.

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Chine ;  Coût ;  prix

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