Renmin University of China

About: Renmin University of China is a education organization based out in Beijing, Beijing, China. It is known for research contribution in the topics: China & Population. The organization has 11325 authors who have published 15498 publications receiving 238419 citations. The organization is also known as: Renmin University & People's University of China.

From Voids to Sophistication: Institutional Environment and MNC CSR Crisis In Emerging Markets

Abstract: Why do multinational corporations (MNCs) frequently encounter corporate social responsibility (CSR) crises in leading emerging markets in the new century? Existing research about institutional impacts on MNC CSR has developed a void-based account about how the flawed institutional system allows misdeeds to happen. But the fact that such misdeeds have turned into increasing CSR crises in the new century along with institutional change is rarely taken into account. This paper combines studies of institutional voids, institutional entrepreneurship and stakeholder theory to develop a concept of institutional sophistication, which refers to both the top-down maturation of the regulatory system that standardizes firm behavior and the bottom-up diversification and intensification of grassroots initiatives that redefine stakeholder membership. Based on this concept, we developed a framework to comprehensively demonstrate how both institutional voids and sophistication drive the MNC CSR crisis in leading emerging markets. Empirically, we established an original database that includes 309 publicized CSR crises encountered by major foreign MNCs in China, India and Russia, 2000-2011. Through a content analysis, the paper reveals six common sophistication processes that drive the MNC crisis across contexts and also specifies stakeholder strategies that make these processes happen and vary by social problems and national contexts. We also discussed the value of studying corporate social irresponsible behavior in understanding the institution-MNC relationship.

Institutional Environment, Firm Ownership and IPO First-Day Returns: Evidence from China

Abstract: We examine two inconclusive issues in the IPO underpricing literature. It is unclear if private firms or government-owned firms (SOEs) underprice their IPOs more and how institutional environment affects IPO underpricing. Using a much larger China IPO sample of SOEs, we conclude that SOEs underprice their IPOs more. Specifically, SOEs controlled by the central government (CSOEs) underprice their IPOs 27 percentage points more than that of private firms whereas SOEs controlled by local governments (LSOEs) underprice 7 percentage points more. Using the National Economic Research Institute Index of Marketization (NERIIM) to measure institutional environment, we find that one index score improvement in institutional environment associates with a two percentage-point reduction in IPO underpricing. Importantly, better institutional environment reduces IPO underpricing most effectively for private firms, followed by LSOEs, and the least for CSOEs.

Intrinsic magnetic topological insulator phases in the Sb doped MnBi2Te4 bulks and thin flakes

Abstract: Magnetic topological insulators (MTIs) offer a combination of topologically nontrivial characteristics and magnetic order and show promise in terms of potentially interesting physical phenomena such as the quantum anomalous Hall (QAH) effect and topological axion insulating states. However, the understanding of their properties and potential applications have been limited due to a lack of suitable candidates for MTIs. Here, we grow two-dimensional single crystals of Mn(SbxBi(1-x))2Te4 bulk and exfoliate them into thin flakes in order to search for intrinsic MTIs. We perform angle-resolved photoemission spectroscopy, low-temperature transport measurements, and first-principles calculations to investigate the band structure, transport properties, and magnetism of this family of materials, as well as the evolution of their topological properties. We find that there exists an optimized MTI zone in the Mn(SbxBi(1-x))2Te4 phase diagram, which could possibly host a high-temperature QAH phase, offering a promising avenue for new device applications.