Research White Paper Series

China is home to a strong IPO market that has seen tremendous growth in recent times. Between 2008 and 2021, the country led the global IPO markets in terms of the number of IPO deals. By late 2021, over 4,500 Chinese companies had gone public. In 2022, China overtook the U.S. to take the number […]

Financial analysts are important information intermediaries who provide useful market information and insights into financial data for identifying opportunities, ultimately influencing investors’ decisions. Fund managers rely particularly heavily on financial analysts for information. This is because they need to have an information advantage over other investors in order to achieve superior returns for their portfolios. […]

Sell-side financial analysts play a crucial role in discovering and disseminating bad news about firms, not least because managers have a proclivity to keep unfavourable news about their firms under wraps. How do analysts acquire bad news? Upon obtaining such information, how do they convey it and what else do they do? Do social ties […]

Guanxi is an intangible resource that gives rise to intricate relational networks. For centuries, guanxi has been a building block of the Chinese business world. In 21st century China, this culturally distinct form of purposeful networking still matters, often shaping the behaviours and decisions of economic agents and exerting impact on management activities and firm […]

China’s Evolving Financial Sector and Its Global Importance China’s financial services sector has experienced burgeoning growth in the past two decades. Hong Kong and Shanghai rank among the top 10 Global Financial Centres in 2023, according to the Global Financial Centres Index 33. By the end of 2022, the country’s financial institutions had a total of […]

Auditors play an important role as gatekeepers who ensure the quality of financial reports, which represent a key information source on which many economic decisions are based. Because of the interactive nature of the audit negotiation and verification process, social ties with client executives or audit committee members are likely to influence the decisions of […]

Since ancient times, humans have observed astronomical phenomena and dreamed of exploring the worlds beyond ours. When Neil Armstrong first stepped on the moon’s surface on July 20, 1969, he said, “That’s one small step for a man, one giant leap for mankind.” Space exploration has served as an inspiration to humankind. Although space exploration […]

Accommodation and food are key elements in space travel. Orbital Assembly, a company that specializes in designing and constructing space stations, is planning to open luxury accommodations in space. It plans to launch two space stations with tourist accommodation. The first is the Voyager Station, which is expected to be opened in 2027 and is […]

The Growing Space Tourism Industry Have you ever imagined reaching for the stars, space walking on the moon, and watching Earth rising with a cup of coffee at a space hotel? For most people, getting to the space is nothing more than a dream. Although space travel sounds futuristic, it is turning into reality. Virgin […]

How has entrepreneurship evolved and what do entrepreneurs need to be aware of to succeed in 2023? The tremendous amount of socio-economic changes in China since the COVID-19 pandemic has shaken up the entire business landscape and created formidable challenges to entrepreneurs. The younger generation of entrepreneurs are now faced with these challenges. At the […]

What are the factors linking urban migration to the rise of entrepreneurism in recent years? For over 40 years, China has been undergoing a rapid and unprecedented urbanisation process, driven by the largest rural-to-urban migration in the country’s and the world’s history. This “great urban migration” kicked off as a result of the government’s economic […]

How important is former experience in running a business for entrepreneurs to “make it big”? Success stories such as those of Bill Gates and Mark Zuckerberg have reinforced the idea of the creative genius in entrepreneurship over the years, allowing the following belief to take root in the popular imagination: Business experience and schooling aren’t […]

As Generations Y and Z come of age, those who grew up in family business environments are increasingly facing challenging career choices. As Generations Y and Z come of age, those who grew up in family business environments are increasingly facing challenging career choices. Their challenge has been spurred by technological disruptions and unprecedented socio-economic […]

How should entrepreneurs adopt different strategies at different stages of institutional change? As China transforms itself from a planned economy to a market economy, policy and institutional changes play a crucial role in shaping entrepreneurial activities. Whether entrepreneurs succeed and thrive depends on the strategies they adopt while adapting to the ongoing institutional changes. Just […]

The Formidable Challenges Facing Entrepreneurs in 2023 The unprecedented socio-economic changes brought on by the COVID-19 pandemic have changed the business landscape around the world and in China. At the same time, pandemic-related challenges spurred the emergence of new technologies. Entrepreneurs actively responded to the rapid economic changes by coming up with innovative solutions and […]

A study finds that households employed by companies in high-emission industries reduce their holdings of risky assets in expectation of climate-related regulatory clampdowns Climate change is a challenge for both society and individuals. While many studies have shown that it affects the portfolio choices of institutional investors, less is known about how climate change affects […]

Climate change is becoming an increasingly significant aspect of our daily lives, and this is something that is being felt not only in our physical environment, but also in financial markets. This may also hold true in the opposite direction, as how investors behave can also affect the fight against global warming. In this white […]

Can rising awareness about climate change cause businesses to operate in a more environmentally friendly manner? Concerns over climate risks have increased among the public in recent years. In our previous studies, we confirmed that people’s beliefs about climate change tend to become stronger when they experience extreme weather personally. Also, both retail and institutional […]

Institutional investors are reducing their holdings of high-emission stocks due to increasing awareness of climate change risks Over 500 institutional investors with US$39 trillion in assets under management signed a statement in September 2022, advocating for governments to implement ambitious policies to combat the climate crisis effectively. A report also estimated that around 74 percent of institutional investors tend […]

Investing in the Era of Climate Change We live in an era of the unprecedented and rapid warming of the global environment due to human activities. So far, global temperatures have already risen by 1.1 degrees Celsius above pre-industrial levels, and the world has also witnessed a rise in the number of extreme weather and […]

Research finds retail investors revise their beliefs about climate change when directly experiencing the effects of warmer weather Climate change is slowly transforming our living environment, but it is not unusual for many people to not take this seriously until they experience it on a personal level. Because everyone has only a limited span of […]

COVID-19 and Supply Chains: Where Are We Today? The global economy has faced a series of extreme shocks over recent years, ranging from the COVID-19 pandemic to the U.S.-China trade war and Russia’s invasion of Ukraine. These dramatic changes have had far-reaching effects on globalisation, leading to a fundamental reversal of multilateral trade openness and […]

The spread of COVID-19 caused extraordinary disruption to global supply chains, as governments around the world battled to contain the virus and protect citizens, obtain medical supplies urgently, access millions of vaccines, and maintain the flow of essential goods. Amid the ensuing turmoil, some countries took steps aimed at moving supply chains out of mainland […]

Nearly five years after it was launched by Donald Trump, the U.S.-China Trade War shows no sign of abating. U.S. President Joe Biden, Trump’s successor, has kept tariffs in place and introduced wide-ranging bans in October 2022 on semiconductor exports to China that are aimed at slowing its military modernisation and development of high-tech industries. […]

As geopolitical tensions have risen over recent years, the reconstruction of the global supply chain has become increasingly intertwined with the economic and trade policies of individual states. Geopolitical tensions not only impact government policymaking, and the adjustments that companies and industries make to such policies but also affect the behaviour of companies that have […]

As the world emerges from the COVID-19 pandemic, businesses find themselves in an altered economic landscape in which the restructuring of the global supply chain is progressing at pace. As well as the disruption caused by the pandemic itself, companies are having to adapt to developments in the U.S.-China Trade War and new government-led trade […]

Is it possible to take advantage of how consumers look at digital information to enhance their evaluation of products?

Marketers should embrace the increasing use of audio and visual elements on social media to reap benefits for their brand

Restaurants and food outlets need to understand how the increasing use of self-service kiosks can affect consumer choice

How paying using electronic means can activate different mindsets among consumers that affect purchase choice

The two-prong challenge of the arrival of the digital age and the spread of the global pandemic has done much to change how people make purchases. Consumers are continuing their shift into digital shopping and increasing numbers of consumers around the world are shopping online for the first time, likely drawn by its convenience and […]

The Unstoppable Rise of Online Commerce in the New Normal COVID-19 has done much to change the purchase habits of consumers around the world, especially by significantly accelerating the adoption of online commerce. Around the world, retail stores shut down as countries entered lockdowns to prevent the spread of the virus during the start of […]

Auditors play an important role as gatekeepers who ensure the quality of financial reports, which represent a key information source on which many economic decisions are based. Because of the interactive nature of the audit negotiation and verification process, social ties with client executives or audit committee members are likely to influence the decisions of […]

Since ancient times, humans have observed astronomical phenomena and dreamed of exploring the worlds beyond ours. When Neil Armstrong first stepped on the moon’s surface on July 20, 1969, he said, “That’s one small step for a man, one giant leap for mankind.” Space exploration has served as an inspiration to humankind. Although space exploration […]

Accommodation and food are key elements in space travel. Orbital Assembly, a company that specializes in designing and constructing space stations, is planning to open luxury accommodations in space. It plans to launch two space stations with tourist accommodation. The first is the Voyager Station, which is expected to be opened in 2027 and is […]

The Growing Space Tourism Industry Have you ever imagined reaching for the stars, space walking on the moon, and watching Earth rising with a cup of coffee at a space hotel? For most people, getting to the space is nothing more than a dream. Although space travel sounds futuristic, it is turning into reality. Virgin […]

How has entrepreneurship evolved and what do entrepreneurs need to be aware of to succeed in 2023? The tremendous amount of socio-economic changes in China since the COVID-19 pandemic has shaken up the entire business landscape and created formidable challenges to entrepreneurs. The younger generation of entrepreneurs are now faced with these challenges. At the […]

What are the factors linking urban migration to the rise of entrepreneurism in recent years? For over 40 years, China has been undergoing a rapid and unprecedented urbanisation process, driven by the largest rural-to-urban migration in the country’s and the world’s history. This “great urban migration” kicked off as a result of the government’s economic […]

How important is former experience in running a business for entrepreneurs to “make it big”? Success stories such as those of Bill Gates and Mark Zuckerberg have reinforced the idea of the creative genius in entrepreneurship over the years, allowing the following belief to take root in the popular imagination: Business experience and schooling aren’t […]

As Generations Y and Z come of age, those who grew up in family business environments are increasingly facing challenging career choices. As Generations Y and Z come of age, those who grew up in family business environments are increasingly facing challenging career choices. Their challenge has been spurred by technological disruptions and unprecedented socio-economic […]

How should entrepreneurs adopt different strategies at different stages of institutional change? As China transforms itself from a planned economy to a market economy, policy and institutional changes play a crucial role in shaping entrepreneurial activities. Whether entrepreneurs succeed and thrive depends on the strategies they adopt while adapting to the ongoing institutional changes. Just […]

The Formidable Challenges Facing Entrepreneurs in 2023 The unprecedented socio-economic changes brought on by the COVID-19 pandemic have changed the business landscape around the world and in China. At the same time, pandemic-related challenges spurred the emergence of new technologies. Entrepreneurs actively responded to the rapid economic changes by coming up with innovative solutions and […]

A study finds that households employed by companies in high-emission industries reduce their holdings of risky assets in expectation of climate-related regulatory clampdowns Climate change is a challenge for both society and individuals. While many studies have shown that it affects the portfolio choices of institutional investors, less is known about how climate change affects […]

Climate change is becoming an increasingly significant aspect of our daily lives, and this is something that is being felt not only in our physical environment, but also in financial markets. This may also hold true in the opposite direction, as how investors behave can also affect the fight against global warming. In this white […]

Can rising awareness about climate change cause businesses to operate in a more environmentally friendly manner? Concerns over climate risks have increased among the public in recent years. In our previous studies, we confirmed that people’s beliefs about climate change tend to become stronger when they experience extreme weather personally. Also, both retail and institutional […]

Institutional investors are reducing their holdings of high-emission stocks due to increasing awareness of climate change risks Over 500 institutional investors with US$39 trillion in assets under management signed a statement in September 2022, advocating for governments to implement ambitious policies to combat the climate crisis effectively. A report also estimated that around 74 percent of institutional investors tend […]

Investing in the Era of Climate Change We live in an era of the unprecedented and rapid warming of the global environment due to human activities. So far, global temperatures have already risen by 1.1 degrees Celsius above pre-industrial levels, and the world has also witnessed a rise in the number of extreme weather and […]

Research finds retail investors revise their beliefs about climate change when directly experiencing the effects of warmer weather Climate change is slowly transforming our living environment, but it is not unusual for many people to not take this seriously until they experience it on a personal level. Because everyone has only a limited span of […]

COVID-19 and Supply Chains: Where Are We Today? The global economy has faced a series of extreme shocks over recent years, ranging from the COVID-19 pandemic to the U.S.-China trade war and Russia’s invasion of Ukraine. These dramatic changes have had far-reaching effects on globalisation, leading to a fundamental reversal of multilateral trade openness and […]

The spread of COVID-19 caused extraordinary disruption to global supply chains, as governments around the world battled to contain the virus and protect citizens, obtain medical supplies urgently, access millions of vaccines, and maintain the flow of essential goods. Amid the ensuing turmoil, some countries took steps aimed at moving supply chains out of mainland […]

Nearly five years after it was launched by Donald Trump, the U.S.-China Trade War shows no sign of abating. U.S. President Joe Biden, Trump’s successor, has kept tariffs in place and introduced wide-ranging bans in October 2022 on semiconductor exports to China that are aimed at slowing its military modernisation and development of high-tech industries. […]

As geopolitical tensions have risen over recent years, the reconstruction of the global supply chain has become increasingly intertwined with the economic and trade policies of individual states. Geopolitical tensions not only impact government policymaking, and the adjustments that companies and industries make to such policies but also affect the behaviour of companies that have […]

As the world emerges from the COVID-19 pandemic, businesses find themselves in an altered economic landscape in which the restructuring of the global supply chain is progressing at pace. As well as the disruption caused by the pandemic itself, companies are having to adapt to developments in the U.S.-China Trade War and new government-led trade […]

Is it possible to take advantage of how consumers look at digital information to enhance their evaluation of products?

Marketers should embrace the increasing use of audio and visual elements on social media to reap benefits for their brand

Restaurants and food outlets need to understand how the increasing use of self-service kiosks can affect consumer choice

How paying using electronic means can activate different mindsets among consumers that affect purchase choice

The two-prong challenge of the arrival of the digital age and the spread of the global pandemic has done much to change how people make purchases. Consumers are continuing their shift into digital shopping and increasing numbers of consumers around the world are shopping online for the first time, likely drawn by its convenience and […]

The Unstoppable Rise of Online Commerce in the New Normal COVID-19 has done much to change the purchase habits of consumers around the world, especially by significantly accelerating the adoption of online commerce. Around the world, retail stores shut down as countries entered lockdowns to prevent the spread of the virus during the start of […]