...ABSTRACT This article has reviewed research results of reaction of share prices to earnings announcements from both China and developed countries, and has used event study method to focus on earnings announcements and share prices of all 29 real estate companies listed in Shanghai A-share market from 31 July 2012 to 30 Jun 2013. The event date was selected on the day when earnings for the year 2012 were announced. The method for calculating normal performance of shares was market model. The result of study showed that there was no significant reaction of share prices to earnings announcement containing good news in event window during [-30, -1] and [-1, +1], except 6 days before announcement day, 1 day before announcement day, and there was a significant reaction of share prices of real estate sector in Shanghai A-share market to earnings announcements containing good news in event window during [+1, +30]. For earnings announcements containing bad news, according to event study, we found no significant reaction of share prices of real estate sector in Shanghai A-share market in the event window between [-30, -1], [-1, +1] and [+1, +30], except 18 days and 7 days before earnings announcement day, 9 days, 21 days and 30 days after earnings announcement day. And we reached the conclusion that the real estate sector in Shanghai A-share does not conform to semi-strong form market efficiency. Key words: earnings announcement, share price, efficient market hypothesis, event...
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...such as soup and spaghetti without those stringy satisfying noodles. The Chinese people have made spectacular inventions such as great fabrics like silk to innovative combat aids such as Gunpowder and possibly even noodles. In my quest to win a trip to china, this essay will expose the inventions I find to be of the greatest significance to society (Henry, 2011). Gunpowder, was accidentally invented, the intended use of the substance was to create immortality in humans. Gunpowder did not create immortality, but was lethal if used in explosives. It was made from potassium nitrate, charcoal and sulfur. The Chinese learned of the mixtures power, and soon used it in fire explosives such as hand grenades (Clark, 2013). The Compass was originally designed to point the “true south”, but had since been used to point to the North. The first Compasses were made of magnetic iron ore, called lodestone. Lodestone becomes highly magnetized when struck by lightning, and points between the North and South Pole. Men would balance the device on a flat surface, and leave it outside during storms, in order for it to hit by lighting for the needle to move. Women would place the compass on dining tables, as a decorative piece (Clark, 2013). Paper was invented by Cai Lun, which started out as a mixture of wood fibers and water. It was then pressed onto strips of long woven cloths and bamboo. The weave in the cloth allowed the moisture to dry,...
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...such as soup and spaghetti without those stringy satisfying noodles. The Chinese people have made spectacular inventions such as great fabrics like silk to innovative combat aids such as Gunpowder and possibly even noodles. In my quest to win a trip to china, this essay will expose the inventions I find to be of the greatest significance to society (Henry, 2011). Gunpowder, was accidentally invented, the intended use of the substance was to create immortality in humans. Gunpowder did not create immortality, but was lethal if used in explosives. It was made from potassium nitrate, charcoal and sulfur. The Chinese learned of the mixtures power, and soon used it in fire explosives such as hand grenades (Clark, 2013). The Compass was originally designed to point the “true south”, but had since been used to point to the North. The first Compasses were made of magnetic iron ore, called lodestone. Lodestone becomes highly magnetized when struck by lightning, and points between the North and South Pole. Men would balance the device on a flat surface, and leave it outside during storms, in order for it to hit by lighting for the needle to move. Women would place the compass on dining tables, as a decorative piece (Clark, 2013). Paper was invented by Cai Lun, which started out as a mixture of wood fibers and water. It was then pressed onto strips of long woven cloths and bamboo. The weave in the cloth allowed the moisture to dry, resulting...
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...TIBETAN STREET ART This paper will be examining ways ideas of Tibetan Art are being changed through the use of street art/graffiti. To do so it will give a brief overview of: street art/graffiti, Tibetan Art and Western Religious Art, as much of Tibet Art is religious in nature. Using this information it will address the question of the paper and look at any similarities between the ways Tibetans have adopted street art/graffiti and Western street art/graffiti. It will also examine the reactions of the Chinese Communist authorities not only to Tibetan Art and street art/graffiti but Tibetan culture in general. Graffiti is unsolicited markings on public or private property, the word graffiti coming from the Italian graffito, meaning ‘to scratch’. In recent years, the word graffiti has also been used to refer to a particular style of art, painted legally or not. It “…is art removed from art’s own precious arena; it inhabits the everyday world of people…is the art of the general. First and foremost its purpose is to focus the public’s sense of space. It has to be immediate, forceful”[1]. The reasons given for graffiti/street art are diverse. Banksy, probably the most well known graffitist in the world says “Although you might have to creep about at night and lie to your mum it’s (graffiti) actually one of the more honest art forms available. There is no elitism or hype, it exhibits on the best walls a town has to offer and nobody is put off by the price of admission.”[2] ...
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...Industrial Relations in China :A Case Study of Foxconn Suicides Abstract As globalization affected the whole world, the contradiction between leaders and labors has become a world-wide problem. In China, a series of employees’ suicides attracted the public and media’s concentration to consider this problem. A Taiwanese electronics corporation, is acting as the protagonist in this issue and now earning an internationally notorious reputation of running sweatshops. This paper analyze the cause of ongoing trend of exploitation of workers in China with the example of Foxconn, and examine the reasons behind those suicides from the perspective of management, workers and related laws. Based on the fundamental information of China, to illustrate my own analysis about this case from ethical and legal point, and to criticize Foxconn’s management strategy, industrial relations and the gaps of Chinese laws. Keywords: workers’ exploitation, China, Foxconn, suicides, inustrial relations 1. Introduction 1.1 Background and significance of the topic With the rapid development of Chinese economy and the increasing globalization of business competition, the various types of enterprises in China have been booming development, rapid increases in the number and size of foreign investment in China to hire to do business, and further reform of state-owned enterprises increase, the private sector, the number and the number of employees of private enterprises in recent years, is also...
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...modern capable force making them a peer threat in capabilities, assets, and economic resources. China in the world’s largest communist regime and has the political stance of growth at any cost. China possesses a strong economy which provides them the financial stability to increase spending on military and technology advancement. The United States has taken notice and has reassessed their regional priority forcing them to implement additional security measures. The Chinese Military a United States Peer Threat The People’s Liberation Army The Chinese military, also known as the People’s Liberation Army (PLA), has become a focal point for the U.S. National Security Strategy. The PLA is the U.S.’s closest adversary in size, capability, and technology, making them a peer threat. History The PLA traces its origins to the August, 1927 Nanchang Uprising of the communists and the nationalists ("People’s Liberation Army History," 2011). The combination of land, sea, and air forces from the Communist Party of China (CPC) and the People’s Republic of China (PRC) was initially called the Chinese Workers and Peasants Red Army. Between 1934 and 1935 the Red Army encountered multiple conflicts against Generalissimo Chiang Kai-Shek (CPC) and took part in the Long March. The Long March (1934-1936) was a 6,000 mile march that relocated the communist revolutionaries’ from Southeast China to the Northeast. The second Sino-Japanese War (1937-1945) lasted through the thirties and into...
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...GIS 3117 Modern China Spring, 2014 Dr. Amy Y. Situ-Liu (Please use Blackboard internal email for your communication with the instructor. In case of an emergency that prevents you from accessing to your computer, please leave your voice mail at 652-4314, and then email me afterward) Orientation: Location: Textbooks (required): China Since 1949 By Linda Benson, Longman, 2nd edition, 2011 China: The Balance Sheet – What the World Needs to Know About the Emerging Superpower By Fred Burgsten and others, 2006 China Road By Rob Gifford, Random House, 2008 Video Programs: All assigned programs are available on “Video on Demand” provided in our library homepage. Most of them are ready for you to review. But since they are online programs, a few may be not available by the times you click the links. If so, just skip that one and watch the others. Please try both “by segment” or “by title” for your search. Course Description: China, the most populous country, is an excellent "laboratory" for the social scientific study of political, economic and social behavior. The Twentieth Century alone has seen many changes in China's fundamental institutions: from imperial courts to military regimes and single-party police states, from rural households to international stock-holding companies, and from foot-binding and slavery to mass movements and democracy protests. The latest development in the last decade has led to the calling...
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...system, leading to the fluctuation of the life span of an individual depending on a number of conditions. Amongst these conditions are the individuals specific geographic location, age, and life style. This paper is structured as a series of relevant questions and answers to report on the description of these pollutants there affects on our bodies. What are the pollutants? And how do they affect our bodies? In order to understand how air pollution affects our body, you must under stand exactly what this pollution is. The pollutants that harm our respiratory system are known as particulates. Particulates are the small solid particles that you can see through a ray of sunlight. They are products of incomplete combustion in engines (example: automobile engines), road dust, and wood smoke. Billions of tons of coal and oil are consumed around the world every year. When these fuels burn they produce smoke and other by-products into the atmosphere. Although wind and rain occasionally wash away the smoke given off by power plants and automobiles, much still remains. Particulate matter (soot, ash, and other solids), usually consist of unburned hydrocarbons, carbon monoxide, sulfur dioxide, various nitrogen oxides, ozone, and lead. These compounds undergo a series of chemical reactions in the presence of sunlight, the result is smog (a term used to describe a noxious mixture of fog and smoke) The smog in this photograph of Beijing,...
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...Cultures In this paper, I will be reviewing the business ethics found in two countries, each from a different continent. The two countries I have chosen are China and Mexico. The articles I have located for this research are both drawn from the University Library, the first one being Business Ethics and Social Responsibility in Contemporary China, by St. Clair and Norris, the second being Introduction to Central America and Mexico: Efforts and obstacles in creating ethical organizations and an ethical economy, by Collins and Whitaker. I will be reviewing China first, followed by Mexico. Chinese Business Ethics In their article, St. Clair and Norris examine the source of Chinese business ethics from multiple angles. Socially, culturally, and politically, the business atmosphere is quite different in China than it is here in the US. There is, really, no formal culture or system of business ethics for the general, private business sector (St Clair & Norris, 2011). Since its induction into the World Trade Order in 2001, China has modified its business regulations quite significantly to ensure that its businesses operate within the WTO guidelines. However, transition and reform aside, centralized decision making, internal bargaining, and bureaucratic red tape still seem to be the norm, despite the decentralization of many industries and the growth of consumerism. This turn towards progressive business ethics could be due to the recent scandals that China has been through, including...
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...CHE0315 DISADVANTAGES OF FIREWORKS ON HEALTH AND ENVIRONMENT Name of Group Member 1. Nur Izzati binti Abdul Latif 153692 2. Nurhalida binti Abdul Rasid 154082 3. Aifa Syazwani bt Awang Damit 150415 4. Sarah Atiqah bt Abdul Rahim 155656 Group Number: 09 Name of Lecturer: Asiah binti Mohd Shafiee Course: Allied Health Science Semester: 1 PROJECT PLANNING OBJECTIVES. 1. To analyze the function of every substance in the fireworks. 2. To study the properties of substance that cause damage towards health and environment. 3. To find the solution on how to reduce the damage of fireworks. 4. To investigate the rate of damage that cause by fireworks to health and environment. DIVISION OF WORKS. Name Tasks | Nur Izzati bt Abdul Latif. | Nurhalida bt Abdul Rashid | Aifa Syazwani bt Awang Damit | Sarah Atiqah bt Abdul Rahim. | Objectives | | | * | | Division of work | * | | | | Timeline | | * | | | Introduction | * | | | | Discussion of Issues | * * History of fireworks. * Development of fireworks. | * * Properties of fireworks. | * * The type of fireworks. | * * How do fireworks work. | Analysis of Issues | | * * Disadvantages...
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...in Riordan Manufacturing, Mark Netizal, contracted Team B a sustainability company to develop and implement a sustainability plan. He decided to assess the company’s current business practices and allow Team B full access to perform their sustainability audit. Team B ventured and completed the audit finding some new practices that can help Riordan Manufacturing and also identified that Riordan Manufacturing was already leading the industry with some current practices. Current Business Practices Audit Riordan Manufacturing is a manufacturing company that produces plastic products, plastic injection moldings, medical products and fan blades and fan housing products. Riordan has three locations inside the United States and a manufacturing plant in the Republic of China. The company by the name Team B has performed a sustainability plan for Riordan Manufacturing in which will provided access to their company’s current business practices. Riordan Manufacturing’s vice president of operations contracted Team B to develop efficient sustainable practices to help promote more environmentally friendly company that can lead its industry to new levels of sustainability. Team B’s audit inspected the following stages of Riordan Manufacturing’s: California’s receiving and mixing stages, Georgia’s molding and mold fabrication stages, Michigan’s trimming and labeling stages and the Republic of China’s assembly, packaging and shipping plants. Team B (T.B.) performed their audit of the...
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...‘How little things could make a big change’ fRANCISCA gUAJARDO – Felipe Lecaros Part I What issue do you want to ilustrate in your story? The issue about our story Is based in our own experiences, about disloyal people that used to be in our life, but for different circumstances in our separated life, they are not part of it anymore. The main issue is about trust and how this can break really strong relationships, where based on the definition of ‘being willing to depend on the behavior of others and accept a certain vulnerability, assuming that others will not betray us’, so when that ‘other’ person betray you, you are in front of a disloyal person that you cannot rely on him or her. What concepts did you choose to ilustrate the issue you have chosen? The main concepts that we chose and the main reasons were: * Trust We used this concept because they were friends, and Nicolas didn’t have the money to started the business, so their friend trust in all the effort that he put in developed the business and they put more money or their pockets to pay the part of Nicolas. * Fear We used the term Fear, because George worked for more than 2 years to get that money and he felt fear to loss that amount of money, that he worked so hard to get it. * Intuition This concept it used because George had an intuition about that something was missing in the business plan, that was only because he didn’t know all the process that Nicolas follow, George always had...
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...Society like Qing China had an influential ideology in making laws which is Confucianism. Specifically in this paper, I will focus on Chastity law in Qing China. Most of scholars, who had previous studies about the law, had written from the viewpoint of state that is based on patriarchal system. It makes sense somehow because states were the lawmakers and law was exercised as an instrument to control and maintain the state power at that time. So, in this paper, I would like to see the chastity law from the view point of women because I study that there is gender inequality and the consequence problems of chastity law in Qing society. I also think that the Qing law served the interest of the women of the rich household but not the poor women. For example, it is hard for a common widow to survive while keeping chastity since they are economically weak. In one study, it mentions that the widow populations were dramatically increasing dynasty by dynasty in China since 17th century. Thus, at one glance, chastity law seemed to be successful in its application to society. However, I do not think that the rise of widow population means the chastity law is perfect. Thus, my hypothesis is that whether the widows really satisfied with chastity law that was strictly imposed on them. In other words, I would examine whether all widows follow the chastity law or not. Also, I would also examine that weather the chastity law is the protection of widows or not. In case of poor widows, they might...
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...in Kabul. There is ample evidence confirming that the | |Haqqanis were behind the June 28th attack against the Inter-Continental Hotel in Kabul and the September 10th truck bomb attack that killed five Afghans and | |injured another 96 individuals, 77 of whom were U.S. soldiers," Muller said on September 22, in front of a Senate committee, adding in his testimony that "in | |supporting these groups, the government of Pakistan, particularly the Pakistani Army, continues to jeopardize Pakistan's opportunity to be a respected and | |prosperous nation with genuine regional and international influence." | |Mullen's words provoked strong reactions, but many U.S. politicians seemed to agree with the...
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...dollhouse furniture made from picture frame scraps, they realized the market potential and decided switch to toy manufacturing. In 1959, Mattel created their most popular toy, the Barbie doll. Inspired by paper dolls, Barbie was a three dimensional doll with which “little girls could play out their dreams.” Throughout the decades Mattel has continued to create and market popular toys, (Hot Wheels and He-man) merge with successful manufacturers, (Fisher Price and Tyco) partner with children’s program companies, (Disney, Sesame Street, and Nickelodeon) obtain licenses and rights to manufacture popular lines (Cabbage Patch Dolls and Harry Potter merchandise) and acquire other companies (Pleasant Company). Since its conception, the Mattel Company has done a lot to make sure it is considered a trustworthy company for children and the community. The corporation established a children’s charity, called the Mattel Children’s Foundation. In 1997 the company created the Global Manufacturing Principles, making them the first company to create a framework to ensure manufacturing would be conducted through consistent standards on a global level. In 1998 they started a $25 million multi-year donation to the UCLA children’s hospital, which is now called the Mattel Children’s Hospital at UCLA. However, Mattel has not always been able to maintain their image of child-like innocence. The corporation has had numerous complaints that they’ve stolen ideas for their toy-lines from children who have entered...
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