The Changing Nature of Sino-Foreign Business Relationships, 1842-1941

During the second half of the nineteenth century, foreign business enterprises relied considerably upon the service of compradors to extend their economic interests in the Chinese economy. Utilised initially to overcome the barriers presented by language difficulties, compradors were employed by western firms to undertake a variety of tasks covering both supervisory and co-ordination functions. With the growth of industrial interest by foreign businesses during the twentieth century, however, the comprador system fell into disrepute and during the 1930s was largely abandoned.This paper employs research based on primary source materials to trace this institutional transition for two specific cases. The Kailan Mining Administration (KMA), whose origins are to be found as an Anglo-Belgian free-standing company, took control of both the Kaiping and Lanchow coal mines in 1912. In order to expand its sales, the company employed the services of the comprador Liu Hongsheng who successfully built up the company’s market around Shanghai. In doing so, however, Liu became an important force in coal distribution in his own right, leading to tensions that were resolved through the creation of a joint venture operation called the Kailan Sales Administration (KSA) in 1925.British-American Tobacco (BAT) was set up in 1902 to administer the foreign markets of the American Tobacco Company and Britain’s Imperial Tobacco Company. In China, a distribution system was created using many Chinese collaborators of whom two were of particular importance. Wu Ting Seng, a member of the Chinese gentry, played a crucial intermediating role for the western company in a variety of its dealings with the Chinese. Cheang Park Chew, on the other hand, was an influential Cantonese merchant whom BAT used to distribute its goods throughout the Shanghai region. In both cases, BAT chose to alter the institutional arrangements with these collaborators from the contractual form to joint venture partnerships, unsuccessfully in the case of Wu, but with phenomenal success in the case of Cheang’s mercantile enterprise, the Wing Tai Vo Tobacco Corporation

The Evolution of Shopping Center Research: A Review and Analysis

Retail research has evolved over the past sixty years. Christaller\u27s early work on central place theory, with its simplistic combination of range and threshold has been advanced to include complex consumer shopping patterns and retailer behavior in agglomerated retail centers. Hotelling\u27s seminal research on competition in a spatial duopoly has been realized in the form of comparison shopping in regional shopping centers. The research that has followed Christaller and Hoteling has been as wide as it has been deep, including literature in geography, economics, finance, marketing, and real estate. In combination, the many extensions of central place theory and retail agglomeration economics have clearly enhanced the understanding of both retailer and consumer behavior. In addition to these two broad areas of shopping center research, two more narrowly focused areas of research have emerged. The most recent focus in the literature has been on the positive effects large anchor tenants have on smaller non-anchor tenant sales. These positive effects are referred to as retail demand externalities. Exploring the theoretical basis for the valuation of shopping centers has been another area of interest to researchers. The primary focus of this literature is based in the valuation of current and expected lease contracts

High-Wage Workers and High-Wage Firms

We study a longitudinal sample of over one million French workers and over 500,000 employing firms. Real total annual compensation per worker is decomposed into components related to observable characteristics, worker heterogeneity, firm heterogeneity and residual variation. Except for the residual, all components may be correlated in an arbitrary fashion. At the level of the individual, we find that person-effects, especially those not related to observables like education, are a very important source of wage variation in France. Firm-effects, while important, are not as important as person-effects. At the level of firms, we find that enterprises that hire high-wage workers are more productive but not more profitable. They are also more capital and high-skilled employee intensive. Enterprises that pay higher wages, controlling for person-effects, are more productive and more profitable. They are also more capital intensive but are not more high-skilled labor intensive. We also find that person-effects explain 92% of inter-industry wage differentials

Federated Embedded Systems – a review of the literature in related fields

This report is concerned with the vision of smart interconnected objects, a vision that has attracted much attention lately. In this paper, embedded, interconnected, open, and heterogeneous control systems are in focus, formally referred to as Federated Embedded Systems. To place FES into a context, a review of some related research directions is presented. This review includes such concepts as systems of systems, cyber-physical systems, ubiquitous computing, internet of things, and multi-agent systems. Interestingly, the reviewed fields seem to overlap with each other in an increasing number of ways