Corporate Governance in <scp>A</scp>sian Countries: Has <scp>C</scp>onfucianism Anything to Offer?

Miles, Lilian; Goo, SH

doi:10.1111/basr.12001

Cited by 27 publications

(23 citation statements)

References 41 publications

(28 reference statements)

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“…[3] Following a number of prior studies (e.g., Begley & Tan, 2001;Cernat, 2004;Miles & Goo, 2013;Mueller, 2006;Weimer & Pape, 1999) we therefore group countries according to their corporate governance traditions, rather than their geographical locations, and identify three distinct and relatively homogenous governance systems: the Anglo-Saxon, the Continental European, and the Confucian systems. , 1972;Berle & Means, 1932;Jensen & Meckling, 1976;Jensen & Ruback, 1983).…”

Section: On the Regional Expression Of The Global Sixth Wavementioning

confidence: 99%

The First Global Merger Wave and the Enigma of Chinese Performance

2016

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The first five merger waves were US-led events. In this article we show that the largely over-looked sixth wave (2003)(2004)(2005)(2006)(2007)(2008) emerged in all regions simultaneously. Because of this, and building upon interconnected literatures -which: (1) suggests that agency is a big predictor of merger performance; (2) distinguishes between three distinct governance traditions; and (3) argues that the Anglo-Saxon system puts the most effort into protecting investors and aligning interests, and the Confucian system the least -we predicted that Anglo-Saxon acquirers would create value in the sixth wave, and Confucian acquirers would destroy it. We find the opposite to be true and show that Chinese acquirers, in particular, created the most value in the sixth wave. In attempting to explain why, we find that China outperformed its Asian neighbors while doing the same thing, and outperformed its Western peers while doing what the literature suggests that they shouldn't do. This not only points to the limits of the generalizability of the existing literature, but supports the suggestion that China is 'different'. We call, therefore, for additional research into understanding Chinese and Confucian acquirers using the standard comparative merger data.2

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Section: On the Regional Expression Of The Global Sixth Wavementioning

confidence: 99%

The First Global Merger Wave and the Enigma of Chinese Performance

2016

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“…In the wake of the Great Cultural Revolution, when Confucianism was purged, Tu Wei‐Ming, a distinguished Confucian scholar, correctly presaged the revival of Confucianism in China (Tu , p. xviii). Today, Confucianism is indeed experiencing a revival and ascendancy as a major traditional value system (see Miles and Goo ; Mooney ; Osnos ).…”

Section: Confucianismmentioning

confidence: 99%

“…In stakeholder relationships, stakeholders are groups of human beings with stakes in a firm (Phillips et al ); the firm as a coexisting moral person—the Confucian firm—has an obligation to treat them with humaneness and benevolence. Confucian Ren thus forms a sound normative basis for stakeholder theory (see also Miles and Goo ).…”

Section: Confucianism As a Moral Basis For Stakeholder Theorymentioning

confidence: 99%

“…For instance, Chan and Romar both argue for the relevance of Confucianism in business ethics (Chan ; Romar ); Ip constructs a Confucian firm using Confucian concepts (Ip ). Miles and Goo make a case for the necessity and pertinence of applying Confucianism in corporate governance in Confucian societies (Miles and Goo ). Kit‐Chun goes a step further to explore an interaction between a Confucianism‐based culture and the economy (Kit‐Chun ).…”

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confidence: 99%

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Confucian Stakeholder Theory: An Exploration

Wu¹,

Wokutch²

2015

Business and Society Review

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Originated in the West, stakeholder theory is normatively anchored in Western value systems. Differences in value orientations and ethical systems in this global age call for culturally pertinent stakeholder theory. In this article, we argue that Confucianism forms an additional normative basis for stakeholder theory, appropriate for a Confucian context. We demonstrate it through application of Confucianism in major stakeholder relationships. The Confucian stakeholder theory provides a meaningful addition to the corpus of stakeholder literature.

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“…However, only a few studies were focused on Confucian value-based leadership in a multicultural society (Miles & Goo, 2013;Robertson & Hoffman, 2000;Wang, Wang, Ruona, & Rojewski, 2005). Although scholars have long considered how leaders communicate vision and values to establish a sense of purpose, they tend to overlook on how these messages can be useful to establish a shared sense of purpose, unity; especially in a multicultural country diversified by religious faith and background such as Malaysia.…”

Section: Introductionmentioning

confidence: 99%

Confucian Value-Based Leadership Communication: A study on Tun Dr. Mahathir Mohamad

Joyce¹,

Ahmad²

2017

JKMJC

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The study on leadership communication is one of the most often researched topics on leadership. However, there have been only a few studies focused on Confucian value-based leadership in a multicultural society. Therefore, this study is designed to develop a leadership communication model that works in an intercultural context. The aim of the study is twofold, first, is to identify the attributes of Dr. Mahathir's vision formation and vision articulation associated with Confucian values, which focus on leadership communication; and second, is to provide a Confucian model of leadership that can be applied by multi-cultural leaders. This study analysed 37 speeches and interviewed 15 Chinese leaders. Findings reveal that Dr. Mahathir applied numerous attributes in developing his speech content, such as value-based cores, growth and ideological goals to capture his audience's minds and hearts simultaneously. This study identifies three main attributes of Dr. Mahathir's vision articulation; they include clarity, inspirational imagery and challenge. Five Confucian values which are relevant to the Chinese community and Dr. Mahathir's leadership communication are also presented in this study. The Confucian values are Zhi (wisdom), Xin (trust), Xiao (filial piety), Ren (benevolence) and Zhong yong (moderation). This study also contributes to the expansion of the leadership communication research in Malaysia and other Asian countries.

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Corporate Governance in Asian Countries: Has Confucianism Anything to Offer?

Cited by 27 publications

References 41 publications

The First Global Merger Wave and the Enigma of Chinese Performance

The First Global Merger Wave and the Enigma of Chinese Performance

Confucian Stakeholder Theory: An Exploration

Confucian Value-Based Leadership Communication: A study on Tun Dr. Mahathir Mohamad

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