Sparsely Aggregated Convolutional Networks

We explore a key architectural aspect of deep convolutional neural networks: the pattern of internal skip connections used to aggregate outputs of earlier layers for consumption by deeper layers. Such aggregation is critical to facilitate training of very deep networks in an end-to-end manner. This is a primary reason for the widespread adoption of residual networks, which aggregate outputs via cumulative summation. While subsequent works investigate alternative aggregation operations (e.g. concatenation), we focus on an orthogonal question: which outputs to aggregate at a particular point in the network. We propose a new internal connection structure which aggregates only a sparse set of previous outputs at any given depth. Our experiments demonstrate this simple design change offers superior performance with fewer parameters and lower computational requirements. Moreover, we show that sparse aggregation allows networks to scale more robustly to 1000+ layers, thereby opening future avenues for training long-running visual processes.Comment: Accepted to ECCV 201

Absorptive Capacity And A Failed Cross-Border M&A

Purpose – Chinese companies are increasingly using cross-border mergers and acquisitions (M&A) to source knowledge or strategic assets. For many, global acquisitions have proven to be highly problematic and value-destroying. The purpose of this paper is to address this critical acquisition failure issue from an absorptive capacity perspective. Design/methodology/approach – Guided by the framework that focuses on how acquiring a firm’s weak absorptive capacity damages its ability to assimilate, integrate and apply external new knowledge, one high-profile Chinese failed acquisition: TCL acquisition of France’s Thomson’s TV business in 2004 is analyzed empirically. Findings – Acquisition performance of Chinese overseas M&A is found to be substantially affected by the acquiring firm’s absorptive capacity at multiple dimensions. Research limitations/implications – The absorptive capacity construct provides an insightful account for differentials in Chinese overseas M&A performance. Practical implications – For decision makers interested in formulating and implementing overseas M&A strategy, appropriate evaluation of their own firms’ absorptive capability should be the first step to take. Originality/value –This is the first paper to apply absorptive capacity arguments to Chinese resource-driven M&A strategy, and will prompt business academicians and practitioners to think about M&A strategy in new and innovative ways

Chinese Outward Direct Investment Research: Theoretical Integration and Recommendations

This article reports a detailed analysis of 138 peer-reviewed articles in 41 journals published in the last 12 years (2001–2012) that focus on Chinese outward foreign direct investment from a theoretical advancement perspective. It assesses how the topic has been explored both conceptually and empirically and identifies the substantive contributions to the literature using a thematic analysis. The article argues that research on the international expansion of Chinese multinational corporations offers a unique opportunity to extend and develop extant theorizing in four primary research streams: the latecomer perspective; Chinese state and government influences; the dynamics of firms and institutions; and the liability of foreignness. Building on the results of this analysis, the article offers five recommendations as promising ways to open up theoretical inquiry: (1) cross-fertilization among the four research streams; (2) integration of resource- and institution-based theories with other theoretical lenses; (3) research on the process dimensions using a longitudinal approach; (4) adoption of multi-levels of analysis; and (5) consideration of the wider emerging market literature

Absorptive Capacity and Failed Cross Border M&A

Purpose – Chinese companies are increasingly using cross-border mergers and acquisitions (M&A) to source knowledge or strategic assets. For many, global acquisitions have proven to be highly problematic and value-destroying. The purpose of this paper is to address this critical acquisition failure issue from an absorptive capacity perspective. Design/methodology/approach – Guided by the framework that focuses on how acquiring a firm\u27s weak absorptive capacity damages its ability to assimilate, integrate and apply external new knowledge, one high-profile Chinese failed acquisition: TCL acquisition of France\u27s Thomson\u27s TV business in 2004 is analyzed empirically. Findings – Acquisition performance of Chinese overseas M&A is found to be substantially affected by the acquiring firm\u27s absorptive capacity at multiple dimensions. Research limitations/implications – The absorptive capacity construct provides an insightful account for differentials in Chinese overseas M&A performance. Practical implications – For decision makers interested in formulating and implementing overseas M&A strategy, appropriate evaluation of their own firms’ absorptive capability should be the first step to take. Originality/value –This is the first paper to apply absorptive capacity arguments to Chinese resource-driven M&A strategy, and will prompt business academicians and practitioners to think about M&A strategy in new and innovative ways

Chinese Outward Direct Investment Research: Theoretical Integration and Recommendations

This article reports a detailed analysis of 138 peer-reviewed articles in 41 journals published in the last 12 years (2001–2012) that focus on Chinese outward foreign direct investment from a theoretical advancement perspective. It assesses how the topic has been explored both conceptually and empirically and identifies the substantive contributions to the literature using a thematic analysis. The article argues that research on the international expansion of Chinese multinational corporations offers a unique opportunity to extend and develop extant theorizing in four primary research streams: the latecomer perspective; Chinese state and government influences; the dynamics of firms and institutions; and the liability of foreignness. Building on the results of this analysis, the article offers five recommendations as promising ways to open up theoretical inquiry: (1) cross-fertilization among the four research streams; (2) integration of resource- and institution-based theories with other theoretical lenses; (3) research on the process dimensions using a longitudinal approach; (4) adoption of multi-levels of analysis; and (5) consideration of the wider emerging market literature

Absorptive Capacity And A Failed Cross-Border M&A

Purpose – Chinese companies are increasingly using cross-border mergers and acquisitions (M&A) to source knowledge or strategic assets. For many, global acquisitions have proven to be highly problematic and value-destroying. The purpose of this paper is to address this critical acquisition failure issue from an absorptive capacity perspective. Design/methodology/approach – Guided by the framework that focuses on how acquiring a firm’s weak absorptive capacity damages its ability to assimilate, integrate and apply external new knowledge, one high-profile Chinese failed acquisition: TCL acquisition of France’s Thomson’s TV business in 2004 is analyzed empirically. Findings – Acquisition performance of Chinese overseas M&A is found to be substantially affected by the acquiring firm’s absorptive capacity at multiple dimensions. Research limitations/implications – The absorptive capacity construct provides an insightful account for differentials in Chinese overseas M&A performance. Practical implications – For decision makers interested in formulating and implementing overseas M&A strategy, appropriate evaluation of their own firms’ absorptive capability should be the first step to take. Originality/value –This is the first paper to apply absorptive capacity arguments to Chinese resource-driven M&A strategy, and will prompt business academicians and practitioners to think about M&A strategy in new and innovative ways

Relative Gains Problem and Case Studies of Economic Cooperation in East Asia

Relative gains problem basically means unequal cooperative payoffs disproportionately favoring partners. With the relative gains problem widely accepted as a serious impediment to international cooperation, some scholars have theoretically argued or modeled several conditions that are most likely to foster a state\u27s sensitivity to relative gains and thus substantially affect the prospects for cooperation. But little empirical work has been done to date. The central objective of this dissertation is to test whether those theoretical propositions can be supported by empirical evidence. For this purpose, we have deducted three hypotheses: (1) If a state faces military threat and zero-sum political competition from another state, then it will be extremely sensitive to relative gains, thereby restricting economic interactions favoring the rival state; (2) If a state believes that its partner is a rising power in a changed system, then it will show increasing sensitivity to relative gains and seek for its bargaining power; and (3) If a cooperative arrangement is likely to put a state in a competitive disadvantage and hurt its long-term growth, then it will be acutely sensitive to such relative losses and will not cooperate. The hypothesized causal relationships are tested via three cases: Taiwan\u27s restriction of its economic interactions with China since 1979, Japan\u27s reduction of its ODA commitment to China in the fourth loan package, and China\u27s rejection of the flying geese model since the mid-1980s. The hypotheses in both Taiwan and ODA cases are strongly supported by the evidence, while the evidence for actual policy outcomes (i.e., non-cooperation) in the flying geese model is mixed. Therefore, the relative gains approach has a formal deductive logic and parsimonious power in analyzing cooperation barriers in East Asia. The study has also three policy implications. First, largely because of defensive cooperation, relative gains concerns do not always jeopardize or eliminate cooperation. Second, even high relative gains concerns may not be fully reflected in policy outcomes, since the extent to which they are ultimately translated into policy is constrained by many other factors. And third, due to strong relative gains concerns, no formal economic bloc in East Asia could be created in the near future, and the continuation of US military presence in the region is highly necessary