Table Of ContentManaging the Asian Century
Check Teck Foo Editor
Diversity of
Managerial
Perspectives from
Inside China
Managing the Asian Century
Series editor
Purnendu Mandal, Singapore, Singapore
Managing the Asian Century provides a platform for scholastic discussions and
stresses the need for a holistic framework to understand Asia as an emerging
economic global powerhouse. Books published in this series cover Asia-centric
topics in economics, production, marketing, fi nance, entrepreneurship, education,
culture, technology, as well as other areas of importance to Asian economics. The
series publishes edited volumes based on papers submitted to international and
regional conferences that focus on specifi c Asia-Pacifi c themes, such as investment
in education, women’s rights, entrepreneurship, climate change, wage inequality,
challenges in governance, and corruption. Books in this series are of keen interest to
researchers and policy planners around the world and will be used by universities
for graduate and doctoral level studies.
More information about this series at h ttp://www.springer.com/series/13579
Check Teck Foo
Editor
Diversity of Managerial
Perspectives from Inside
China
Editor
Check Teck Foo
School of Management
Harbin Institute of Technology
Harbin, Heilongjiang , China
ISSN 2364-5857 ISSN 2364-5865 (electronic)
Managing the Asian Century
ISBN 978-981-287-554-9 ISBN 978-981-287-555-6 (eBook)
DOI 10.1007/978-981-287-555-6
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Foreword
C onfucius the Great Sage of Learning once said in Chinese: (cid:5424)(cid:2471)(cid:7481)(cid:11514) (k ai juan you yi ).
It is often rendered in English as: “You cannot open a book without learning something.”
More precisely: “Unroll a Scroll and Benefi t.” For during the Spring and Autumn period,
there are no books as we know of it now but scrolls of bamboo slips. Also the Chinese
characters are written differently, more alike to what is shown in Fig. 1 below:
Whatever its form, the principle embedded in this saying, however, applies with
equal force today to this substantial work D iversity of Managerial Perspectives from
Inside China . It is probably the fi rst book of its kind in the world to be emphasizing
a diversity of insights of professors from inside [of] C hina. Moreover in this book
are deep insights as derived by researchers through planned investigative research
utilizing empirical studies.
Fig. 1 Source: Circa 300 BCE Shanghai Museum (Wikipedia)
v
vi Foreword
Fig. 2 1966 Bilingual Edition (Source: Wikipedia)
T he late Mao Zedong himself had emphasized investigative approaches to
problem-s olving. Indeed there is in Mao’s Little Red Book (Fig. 2) ((cid:8715)(cid:1131)(cid:5213)(cid:16925)(cid:5509):
Máo Zhǔxí Yǔlù ) at Chapter 23 titled specifi cally as (cid:16947)(cid:7701)(cid:11844)(cid:12454)(cid:3)(tiao cha yan jiu)
that may be rendered as “Investigation and Study” or alternatively “Investigation
Through Research.”
I t is interesting here to quote the exact words of Mao Zedong from this Chapter.
He fi rst put it rhetorically as is his style:
(cid:1424)(cid:4649)(cid:1214)(cid:18131)(cid:19486)(cid:20168)(cid:1085)(cid:14125)(cid:2019)(cid:1144)?(ni dui yu na wen ti bu neng jue me)
Or as rendered in English: You can’t solve a problem?
Then he answered:
(cid:18131)(cid:7514), (cid:1424)(cid:4705)(cid:2539)(cid:16947)(cid:7701)(cid:18131)(cid:1114)(cid:19486)(cid:20168)(cid:11444)(cid:10720)(cid:10470)(cid:2748)(cid:4531)(cid:11444)(cid:2486)(cid:2594)(cid:2647)!(na wei ni jiu qu tiao cha na ge wen ti
de xian zhuang he ta de li shi ba!)
A gain in English: Well, get down and investigate the present facts and its past
history!
By design and selection from submissions, Editor and Research Professor Foo
Check Teck had stringed together a comprehensive selection of topics relevant to
management. The contributors are made through invitations to professors who had
made presentations at the Global Chinese Management Studies Conference in
Singapore (2012–2014).
The issues featured are those that should be of signifi cant concern to top manage-
ment. If you are managing an organization within China, this book should be part of
your essential reading. Unlike other books, many of the insights are gained through
professors embarking on empirical research. The four key themes are on gover-
nance, risk, technology, and value. Each of these is investigated with relevance to
situation in China.
Foreword vii
These topics are consistent with President Xi Jinping’s Four Comprehensives
((cid:3339)(cid:1114)(cid:1944)(cid:19858): sig ge quan mian): prosperous society, deepening reform, and gover-
nance of law and party. The fi rst theme on governance is resonated in the last two
comprehensives. Risk and technology relate to a continuing reform of economy
for prosperity.
What the West has so far yet to fully appreciate is the uniqueness of the Chinese
approach to management. There is a sharp contrast between the USA and China.
Unlike the USA which is young, approaching 239 years, China is so ancient.
Beginning 2100 BCE the country was already managed under a dynastic rule: the
Xia Emperors. Most relevant to scholars, written records of China can date as far
back as 5,000 years.
As exhorted by Mao Zedong, scholars doing research on Chinese management
should not altogether turn a blind eye to a deep, rich historical resource. According
to Foo Check Teck, a world-renowned scholar knows from his own research that the
classic text of the 2,500-year-old Art of War by Sun Tzu remains very relevant even
today for management.
M oreover in terms of size, the USA with 390 million, even though a superpower,
is smallish relative to China’s nearing 1.4 billion. What is often forgotten is that
China has the world’s largest ethnic group: 1.3 billion Han Chinese. Almost a fi fth
of the world’s population is integrated by common roots. Despite its signifi cance,
this culture is not adequately refl ected in Western management journals.
I hope this work by Professor Foo Check Teck, founding editor in chief of
Chinese Management Studies (SSCI) from our School of Management at Harbin
Institute of Technology, will provide deep insights to the readers on issues related to
governance, risk, technology, and values in the Chinese context. Perhaps, it may be
useful too to have an edition of this book in the Chinese language!
Harbin , Heilongjiang , China Bo Yu
August 2015
Contents
Part I Introduction
1 Overview: Governance, Risk, Technology, and Value .......................... 3
Check Teck Foo
Part II Governance
2 Managing CSR Inside China ................................................................. 19
Yuanhui Li and Check Teck Foo
3 Transformation and Institutional Change
of Corporate Governance ....................................................................... 35
Mian Du and Liang Gu
4 Emerging Polycentric Pattern in Governing Transitional China ....... 47
Xin Zhang
5 Accounting Information Fusion for Decision Making ......................... 67
Xinsheng Duan
Part III Risk
6 Early Warning System for Finance ....................................................... 85
Peng Wu , Lei Gao and Qiong Wang
7 New Consumers’ Perspective in Insuring Earthquakes ...................... 103
Jiaoju Ge , Jie Zhao , and Shoaib Nisar
8 Corporate Eleemosynary Behavior ....................................................... 115
Fei Wang and Jiuchang Wei
ix
