Pub Date : 2017-12-29DOI: 10.1108/JCEFTS-03-2017-0010
Fayyaz Ahmad, M. Draz, Su-chang Yang
The purpose of this paper is to examine the different factors that are influential on outward foreign direct investment (OFDI). A sample of four ASEAN countries is compared with dominant Asian economies for a period of more than three decades. Time series data starting from 1981 to 2013 was selected for analysis. A separate econometric model using OLS, with a battery of complementary tests, was estimated for every country to determine the variables affecting OFDI. Exchange rates, income and interest rates affect the OFDI of most of the countries. For comparatively advanced and dominant economies (i.e. China, Japan, Korea and India), openness is the influential variable, while in ASEAN countries income levels and exchange rates are the dominant factors. Overall, different types of endowments have a different impact for every country. Previous studies have primarily examined advanced countries’ OFDI. Our work adds to the literature by focusing on ASEAN economies and by making a comparison with Asian giants. Furthermore, the validity and stability of our model is tested with a series of specifications tests. In this way our work is a useful source of information for every stake holder.
{"title":"What Drives OFDI? Comparative Evidence from ASEAN and Selected Asian Economies","authors":"Fayyaz Ahmad, M. Draz, Su-chang Yang","doi":"10.1108/JCEFTS-03-2017-0010","DOIUrl":"https://doi.org/10.1108/JCEFTS-03-2017-0010","url":null,"abstract":"The purpose of this paper is to examine the different factors that are influential on outward foreign direct investment (OFDI). A sample of four ASEAN countries is compared with dominant Asian economies for a period of more than three decades. Time series data starting from 1981 to 2013 was selected for analysis. A separate econometric model using OLS, with a battery of complementary tests, was estimated for every country to determine the variables affecting OFDI. Exchange rates, income and interest rates affect the OFDI of most of the countries. For comparatively advanced and dominant economies (i.e. China, Japan, Korea and India), openness is the influential variable, while in ASEAN countries income levels and exchange rates are the dominant factors. Overall, different types of endowments have a different impact for every country. Previous studies have primarily examined advanced countries’ OFDI. Our work adds to the literature by focusing on ASEAN economies and by making a comparison with Asian giants. Furthermore, the validity and stability of our model is tested with a series of specifications tests. In this way our work is a useful source of information for every stake holder.","PeriodicalId":44245,"journal":{"name":"Journal of Chinese Economic and Foreign Trade Studies","volume":"11 1","pages":"15-31"},"PeriodicalIF":2.4,"publicationDate":"2017-12-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1108/JCEFTS-03-2017-0010","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44479709","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2017-12-29DOI: 10.1108/JCEFTS-08-2017-0024
Liaqat Ali, Jianing Mi, M. Shah, Syed Jamal Shah, Salim Khan, R. Ullah, Kausar Bibi
Purpose Road and transportation has a significant role in the prosperity, economic growth and development of a region. The main purpose of this study is to conduct an in-depth analysis of local residents’ attitude towards road and transport infrastructure (China–Pakistan economic corridor, CPEC) and the wider economic, social, cultural and environmental impact on local people. Design/methodology/approach Data were collected using a questionnaire survey from the local people. Factor analysis and structural equation modelling approach were used to test the relation between the observed and latent variables. Findings The result discovered that road infrastructure has significant socio-economic and cultural impacts that significantly affect the local people support for CPEC development. It also revealed that more promotion and awareness regarding benefits of the project for dwellers lead to more support of the local residents in the study area. Practical implications Information provided by this study will help policymakers to gain local resident support for the project and make policies accordingly for the future projects. Originality/value This study investigated the attitude and support of the local people based on the road infrastructure’s social, economic, cultural and environmental impact, which has never been examined in the existing literature.
{"title":"Local residents’ attitude towards road and transport infrastructure (a case of China Pakistan economic corridor)","authors":"Liaqat Ali, Jianing Mi, M. Shah, Syed Jamal Shah, Salim Khan, R. Ullah, Kausar Bibi","doi":"10.1108/JCEFTS-08-2017-0024","DOIUrl":"https://doi.org/10.1108/JCEFTS-08-2017-0024","url":null,"abstract":"Purpose \u0000 \u0000 \u0000 \u0000 \u0000Road and transportation has a significant role in the prosperity, economic growth and development of a region. The main purpose of this study is to conduct an in-depth analysis of local residents’ attitude towards road and transport infrastructure (China–Pakistan economic corridor, CPEC) and the wider economic, social, cultural and environmental impact on local people. \u0000 \u0000 \u0000 \u0000 \u0000Design/methodology/approach \u0000 \u0000 \u0000 \u0000 \u0000Data were collected using a questionnaire survey from the local people. Factor analysis and structural equation modelling approach were used to test the relation between the observed and latent variables. \u0000 \u0000 \u0000 \u0000 \u0000Findings \u0000 \u0000 \u0000 \u0000 \u0000The result discovered that road infrastructure has significant socio-economic and cultural impacts that significantly affect the local people support for CPEC development. It also revealed that more promotion and awareness regarding benefits of the project for dwellers lead to more support of the local residents in the study area. \u0000 \u0000 \u0000 \u0000 \u0000Practical implications \u0000 \u0000 \u0000 \u0000 \u0000Information provided by this study will help policymakers to gain local resident support for the project and make policies accordingly for the future projects. \u0000 \u0000 \u0000 \u0000 \u0000Originality/value \u0000 \u0000 \u0000 \u0000 \u0000This study investigated the attitude and support of the local people based on the road infrastructure’s social, economic, cultural and environmental impact, which has never been examined in the existing literature.","PeriodicalId":44245,"journal":{"name":"Journal of Chinese Economic and Foreign Trade Studies","volume":"11 1","pages":"104-120"},"PeriodicalIF":2.4,"publicationDate":"2017-12-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1108/JCEFTS-08-2017-0024","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44691619","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2017-12-29DOI: 10.1108/JCEFTS-06-2017-0018
Ying Han, Guohong Chen
The purpose of this paper is to clarify the influence of knowledge sharing on innovation performance from the knowledge-based dynamic capabilities perspective within industrial clusters.,This paper designed a five-point Likert questionnaire measuring knowledge sharing, dynamic capabilities, trust and innovation performance, and a sample was collected from the industrial clusters within Fujian province in China. Empirical analysis was applied to test the hypotheses.,Significant relationships were found between knowledge sharing and innovation performance. Three key characteristics of dynamic capabilities were distinguished, namely, knowledge acquisition capability, knowledge integration capability and knowledge creative capabilities. On this basis, further analysis found that dynamic capabilities played a mediating role in this relationship, and trust was a significant moderator.,This paper helps to understand the mechanism between knowledge sharing, knowledge-based dynamic capabilities, trust and innovation. Managers should focus on contributing to knowledge sharing activities, dynamic capabilities and trustful environment to improve innovation effectively.,This paper contributes to the burgeoning literature on the relationship between knowledge sharing and innovation performance in China. Further, it highlights the crucial role of cluster knowledge management in contributing to innovation and management practices.
{"title":"The relationship between knowledge sharing capability and innovation performance within industrial clusters: Evidence from China","authors":"Ying Han, Guohong Chen","doi":"10.1108/JCEFTS-06-2017-0018","DOIUrl":"https://doi.org/10.1108/JCEFTS-06-2017-0018","url":null,"abstract":"The purpose of this paper is to clarify the influence of knowledge sharing on innovation performance from the knowledge-based dynamic capabilities perspective within industrial clusters.,This paper designed a five-point Likert questionnaire measuring knowledge sharing, dynamic capabilities, trust and innovation performance, and a sample was collected from the industrial clusters within Fujian province in China. Empirical analysis was applied to test the hypotheses.,Significant relationships were found between knowledge sharing and innovation performance. Three key characteristics of dynamic capabilities were distinguished, namely, knowledge acquisition capability, knowledge integration capability and knowledge creative capabilities. On this basis, further analysis found that dynamic capabilities played a mediating role in this relationship, and trust was a significant moderator.,This paper helps to understand the mechanism between knowledge sharing, knowledge-based dynamic capabilities, trust and innovation. Managers should focus on contributing to knowledge sharing activities, dynamic capabilities and trustful environment to improve innovation effectively.,This paper contributes to the burgeoning literature on the relationship between knowledge sharing and innovation performance in China. Further, it highlights the crucial role of cluster knowledge management in contributing to innovation and management practices.","PeriodicalId":44245,"journal":{"name":"Journal of Chinese Economic and Foreign Trade Studies","volume":"11 1","pages":"32-48"},"PeriodicalIF":2.4,"publicationDate":"2017-12-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1108/JCEFTS-06-2017-0018","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42358063","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2017-10-09DOI: 10.1108/JCEFTS-05-2016-0015
K. Fung, Nathalie Aminian
Purpose - In this paper, the authors aim to examine some characteristics of the innovation system and policy in France and China. For comparison, they also highlight some high technology features of Silicon Valley and California. Design/methodology/approach - The authors study the characteristics of innovation in France and in China. The authors examine the technology systems and policies in both countries and compare their features with those in Silicon Valley. Findings - As far as France is concerned, it can be stated that the innovation system and policy are under transformation, going from a strong state involvement to a more decentralized framework. This evolution leads to a multi-level governance of the innovation system and to the emergence of new actors. For China, the most interesting development in China is the evolution of its internet-related sector. The authors argue here that the internet-driven economy is a radical, systemic technological change and it is rapidly growing in China. Originality/value - One of the earliest papers comparing the innovation policies and activities in France, China and Silicon Valley.
{"title":"Silicon Valley, France and China: a comparative study of innovation systems and policies","authors":"K. Fung, Nathalie Aminian","doi":"10.1108/JCEFTS-05-2016-0015","DOIUrl":"https://doi.org/10.1108/JCEFTS-05-2016-0015","url":null,"abstract":"Purpose - In this paper, the authors aim to examine some characteristics of the innovation system and policy in France and China. For comparison, they also highlight some high technology features of Silicon Valley and California. Design/methodology/approach - The authors study the characteristics of innovation in France and in China. The authors examine the technology systems and policies in both countries and compare their features with those in Silicon Valley. Findings - As far as France is concerned, it can be stated that the innovation system and policy are under transformation, going from a strong state involvement to a more decentralized framework. This evolution leads to a multi-level governance of the innovation system and to the emergence of new actors. For China, the most interesting development in China is the evolution of its internet-related sector. The authors argue here that the internet-driven economy is a radical, systemic technological change and it is rapidly growing in China. Originality/value - One of the earliest papers comparing the innovation policies and activities in France, China and Silicon Valley.","PeriodicalId":44245,"journal":{"name":"Journal of Chinese Economic and Foreign Trade Studies","volume":"10 1","pages":"194-214"},"PeriodicalIF":2.4,"publicationDate":"2017-10-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1108/JCEFTS-05-2016-0015","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48401040","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2017-10-09DOI: 10.1108/JCEFTS-06-2017-0016
M. Ferracane, Hosuk Lee-Makiyama
Purpose This paper aims to investigate China’s policy on digital trade with the objective to highlight the rationales behind such policy. Design/methodology/approach China’s policy on digital trade is assessed by analysing the main regulations imposed in the country in the period from 1985 to 2016 that have an impact on digital trade. Findings It was found that there are more than 70 measures imposed today that have a negative impact on digital trade. The measures are diverse and can be justified with several policy objectives, namely, industrial policy, public order and national security, and these support China’s fiscal and state-owned enterprise structure. Originality/value This paper analyses China’s policy on digital trade from a new perspective and provides insights on the rationales behind this policy.
{"title":"Diverging incentives for reforming China’s restrictions on digital innovations","authors":"M. Ferracane, Hosuk Lee-Makiyama","doi":"10.1108/JCEFTS-06-2017-0016","DOIUrl":"https://doi.org/10.1108/JCEFTS-06-2017-0016","url":null,"abstract":"Purpose \u0000 \u0000 \u0000 \u0000 \u0000This paper aims to investigate China’s policy on digital trade with the objective to highlight the rationales behind such policy. \u0000 \u0000 \u0000 \u0000 \u0000Design/methodology/approach \u0000 \u0000 \u0000 \u0000 \u0000China’s policy on digital trade is assessed by analysing the main regulations imposed in the country in the period from 1985 to 2016 that have an impact on digital trade. \u0000 \u0000 \u0000 \u0000 \u0000Findings \u0000 \u0000 \u0000 \u0000 \u0000It was found that there are more than 70 measures imposed today that have a negative impact on digital trade. The measures are diverse and can be justified with several policy objectives, namely, industrial policy, public order and national security, and these support China’s fiscal and state-owned enterprise structure. \u0000 \u0000 \u0000 \u0000 \u0000Originality/value \u0000 \u0000 \u0000 \u0000 \u0000This paper analyses China’s policy on digital trade from a new perspective and provides insights on the rationales behind this policy.","PeriodicalId":44245,"journal":{"name":"Journal of Chinese Economic and Foreign Trade Studies","volume":"10 1","pages":"259-280"},"PeriodicalIF":2.4,"publicationDate":"2017-10-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1108/JCEFTS-06-2017-0016","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43393490","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2017-10-09DOI: 10.1108/JCEFTS-05-2017-0013
S. Cheah, Shenghui Wang
Purpose This study aims to construct mechanisms of big data-driven business model innovation from the market, strategic and economic perspectives and core logic of business model innovation. Design/methodology/approach The authors applied deductive reasoning and case analysis method on manufacturing firms in China to validate the mechanisms. Findings The authors have developed an integrated framework to deduce the elements of big data-driven business model innovation. The framework comprises three elements: perspectives, business model processes and big data-driven business model innovations. As we apply the framework on to three Chinese companies, it is evident that the mechanisms of business model innovation based on big data is a progressive and dynamic process. Research limitations/implications The case sample is relatively small, which is a typical trade-off in qualitative research. Practical implications A robust infrastructure that seamlessly integrates internet of things, front-end customer systems and back-end production systems is pivotal for companies. The management has to ensure its organization structure, climate and human resources are well prepared for the transformation. Social implications When provided with a convenient crowdsourcing platform to provide feedback and witness their suggestions being implemented, users are more likely to share insights about their use experience. Originality/value Extant studies of big data and business model innovation remain disparate. By adding a new dimension of intellectual and economic resource to the resource-based view, this paper posits an important link between big data and business model innovation. In addition, this study has contributed to the theoretical lens of value by contextualizing the value components of a business model and providing an integrated framework.
{"title":"Big data-driven business model innovation by traditional industries in the Chinese economy","authors":"S. Cheah, Shenghui Wang","doi":"10.1108/JCEFTS-05-2017-0013","DOIUrl":"https://doi.org/10.1108/JCEFTS-05-2017-0013","url":null,"abstract":"Purpose \u0000 \u0000 \u0000 \u0000 \u0000This study aims to construct mechanisms of big data-driven business model innovation from the market, strategic and economic perspectives and core logic of business model innovation. \u0000 \u0000 \u0000 \u0000 \u0000Design/methodology/approach \u0000 \u0000 \u0000 \u0000 \u0000The authors applied deductive reasoning and case analysis method on manufacturing firms in China to validate the mechanisms. \u0000 \u0000 \u0000 \u0000 \u0000Findings \u0000 \u0000 \u0000 \u0000 \u0000The authors have developed an integrated framework to deduce the elements of big data-driven business model innovation. The framework comprises three elements: perspectives, business model processes and big data-driven business model innovations. As we apply the framework on to three Chinese companies, it is evident that the mechanisms of business model innovation based on big data is a progressive and dynamic process. \u0000 \u0000 \u0000 \u0000 \u0000Research limitations/implications \u0000 \u0000 \u0000 \u0000 \u0000The case sample is relatively small, which is a typical trade-off in qualitative research. \u0000 \u0000 \u0000 \u0000 \u0000Practical implications \u0000 \u0000 \u0000 \u0000 \u0000A robust infrastructure that seamlessly integrates internet of things, front-end customer systems and back-end production systems is pivotal for companies. The management has to ensure its organization structure, climate and human resources are well prepared for the transformation. \u0000 \u0000 \u0000 \u0000 \u0000Social implications \u0000 \u0000 \u0000 \u0000 \u0000When provided with a convenient crowdsourcing platform to provide feedback and witness their suggestions being implemented, users are more likely to share insights about their use experience. \u0000 \u0000 \u0000 \u0000 \u0000Originality/value \u0000 \u0000 \u0000 \u0000 \u0000Extant studies of big data and business model innovation remain disparate. By adding a new dimension of intellectual and economic resource to the resource-based view, this paper posits an important link between big data and business model innovation. In addition, this study has contributed to the theoretical lens of value by contextualizing the value components of a business model and providing an integrated framework.","PeriodicalId":44245,"journal":{"name":"Journal of Chinese Economic and Foreign Trade Studies","volume":"10 1","pages":"229-251"},"PeriodicalIF":2.4,"publicationDate":"2017-10-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1108/JCEFTS-05-2017-0013","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47049861","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2017-10-02DOI: 10.1108/JCEFTS-05-2017-0012
Yangqing Cheng, S. Hsu, C. Lo
Third-party payments were first introduced by the US firm PayPal. Soon after, China developed a localized version of PayPal – Alipay, which became the main payment method for online transactions in China. Currently, the number of global transactions conducted with Alipay is three times that of PayPal. In addition to online transactions, Alipay also integrates with mobile payment applications to provide offline services, making physical transactions more convenient for users. The authors, in this paper, aim to address how third-party payments technology seems to be playing out an innovation-imitation-catch up story.,Krugman (1966) proposed a general-equilibrium model of product cycles under perfect competition where high-tech products are innovated by an “advanced” country and imitated by a “developing” country. The competition between US–China online technologies (e.g. third-party payments) seems to be playing out this innovation-imitation-catch up story.,The USA has already put a lot of effort into the operations of credit cards and checks, as well as other infrastructure such as human resources and installation of relevant systems. China lacks the infrastructure for payments made with credit cards and checks, and therefore China’s opportunity cost of moving directly from cash transactions to third-party payments is much less than that of the USA, which is why China holds follower advantage in third-party payment markets.,The third-party payment technologies appear to be a good example of the argument made by Krugman (1966) regarding the US–China competition on advanced technology, which states that an imitator can catch up with an inventor when the former acquires comparative advantages against the latter.
{"title":"Innovation and imitation: Competition between the US and China on third-party payment technology","authors":"Yangqing Cheng, S. Hsu, C. Lo","doi":"10.1108/JCEFTS-05-2017-0012","DOIUrl":"https://doi.org/10.1108/JCEFTS-05-2017-0012","url":null,"abstract":"Third-party payments were first introduced by the US firm PayPal. Soon after, China developed a localized version of PayPal – Alipay, which became the main payment method for online transactions in China. Currently, the number of global transactions conducted with Alipay is three times that of PayPal. In addition to online transactions, Alipay also integrates with mobile payment applications to provide offline services, making physical transactions more convenient for users. The authors, in this paper, aim to address how third-party payments technology seems to be playing out an innovation-imitation-catch up story.,Krugman (1966) proposed a general-equilibrium model of product cycles under perfect competition where high-tech products are innovated by an “advanced” country and imitated by a “developing” country. The competition between US–China online technologies (e.g. third-party payments) seems to be playing out this innovation-imitation-catch up story.,The USA has already put a lot of effort into the operations of credit cards and checks, as well as other infrastructure such as human resources and installation of relevant systems. China lacks the infrastructure for payments made with credit cards and checks, and therefore China’s opportunity cost of moving directly from cash transactions to third-party payments is much less than that of the USA, which is why China holds follower advantage in third-party payment markets.,The third-party payment technologies appear to be a good example of the argument made by Krugman (1966) regarding the US–China competition on advanced technology, which states that an imitator can catch up with an inventor when the former acquires comparative advantages against the latter.","PeriodicalId":44245,"journal":{"name":"Journal of Chinese Economic and Foreign Trade Studies","volume":"10 1","pages":"252-258"},"PeriodicalIF":2.4,"publicationDate":"2017-10-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1108/JCEFTS-05-2017-0012","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49498822","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2017-10-02DOI: 10.1108/JCEFTS-06-2017-0015
C. Stern, M. Mäkinen, Zongxin Qian
Purpose - China is a country with the most number of operating peer-to-peer (P2P) lending platforms (approximately 2,000) worldwide. This study aims to provide an overview on FinTechs in China. It was examined why payment services and P2P lending are so popular in China and what are the determinants for the emergence of P2P lending platforms in different provinces in China. Design/methodology/approach - This study conducted a descriptive analysis of P2P lending in China and an empirical analysis of determinants of P2P lending in China. Findings - This descriptive analysis shows that the surge in the number of the P2P platforms in China follows an inverted U-shaped phenomenon. However, the outstanding balances of P2P lenders is still increasing, while average yields of P2P lenders have sharply plunged. The empirical findings indicate that P2P lending is more extensive in the region with more mobile phone subscriptions; outstanding balance of P2P lenders in region is negatively associated with the size of traditional banking sector; and the number of the P2P platforms in negatively related to the fixed assets investments in region, whereas average yield is positively associated with the fixed assets investments. Originality/value - Currently, almost no research papers with empirical analysis of FinTechs, especially P2P lenders, exist. This study estimates a simple model to find determinants of P2P lending.
{"title":"FinTechs in China – with a special focus on peer to peer lending","authors":"C. Stern, M. Mäkinen, Zongxin Qian","doi":"10.1108/JCEFTS-06-2017-0015","DOIUrl":"https://doi.org/10.1108/JCEFTS-06-2017-0015","url":null,"abstract":"Purpose - China is a country with the most number of operating peer-to-peer (P2P) lending platforms (approximately 2,000) worldwide. This study aims to provide an overview on FinTechs in China. It was examined why payment services and P2P lending are so popular in China and what are the determinants for the emergence of P2P lending platforms in different provinces in China. Design/methodology/approach - This study conducted a descriptive analysis of P2P lending in China and an empirical analysis of determinants of P2P lending in China. Findings - This descriptive analysis shows that the surge in the number of the P2P platforms in China follows an inverted U-shaped phenomenon. However, the outstanding balances of P2P lenders is still increasing, while average yields of P2P lenders have sharply plunged. The empirical findings indicate that P2P lending is more extensive in the region with more mobile phone subscriptions; outstanding balance of P2P lenders in region is negatively associated with the size of traditional banking sector; and the number of the P2P platforms in negatively related to the fixed assets investments in region, whereas average yield is positively associated with the fixed assets investments. Originality/value - Currently, almost no research papers with empirical analysis of FinTechs, especially P2P lenders, exist. This study estimates a simple model to find determinants of P2P lending.","PeriodicalId":44245,"journal":{"name":"Journal of Chinese Economic and Foreign Trade Studies","volume":"10 1","pages":"215-228"},"PeriodicalIF":2.4,"publicationDate":"2017-10-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1108/JCEFTS-06-2017-0015","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43171155","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2017-08-21DOI: 10.1108/JCEFTS-08-2017-0025
K. Fung, Xiaolan Fu
{"title":"Introduction to the special issue on innovation and the digital economy of China and the Silicon Valley","authors":"K. Fung, Xiaolan Fu","doi":"10.1108/JCEFTS-08-2017-0025","DOIUrl":"https://doi.org/10.1108/JCEFTS-08-2017-0025","url":null,"abstract":"","PeriodicalId":44245,"journal":{"name":"Journal of Chinese Economic and Foreign Trade Studies","volume":"1 1","pages":""},"PeriodicalIF":2.4,"publicationDate":"2017-08-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1108/JCEFTS-08-2017-0025","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46836774","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2017-08-01DOI: 10.1108/JCEFTS-11-2016-0031
Abolaji Daniel Anifowose, Izlin Ismail, Mohd Edil Abd. Sukor
Purpose The purpose of this paper is to present the essential role that currency order flow plays in the foreign exchange markets of emerging economies in the determination of their currencies in the short and the long-run against major currencies of the world, which cannot be over emphasized, most especially against the US dollar. Insomuch that, if some of these emerging economies can be successfully transmitted into full development, it would be a good model for other emerging economies and the world at large. Design/methodology/approach A hybrid model (portfolio shift model) proposed by Evans and Lyons (2002a, 2002b) is extended to analyze a data set of every quarter of an hour currency order flow and currency exchange rate fluctuations of Thai Baht (THB) against the US$ for the period of six years (January 2010 to December 2015). To reflect the pressure of currency excess demand, the authors construct a measure of currency order flow in the Thailand currency exchange market. Vector autoregression model is applied to estimate the effectual role of currency order flow in the determination of exchange rate for the THB against the US$. Findings Currency order flow indeed accounted for a sizeable and significant portion of the fluctuations in the THB and the US$ exchange rate. Originality/value Insomuch that, the results show that currency order flow has significant explanatory power in the emerging markets economy to capture the THB exchange rate variability, and it then brings to the attention of the Thailand Monetary Authority the importance that should be attached to the market microstructure.
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