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"This book systematically defines and analyses the rise of Chinas innovation system and Chinese corporate governance model. Chinas achievement in artificial intelligence and high technology innovation has attracted the global attention. The countrys innovation system and Chinese model arose during the period between the mid-1990s and the first decade of 21 century, making it one of the leading countries in those fields. This revised and expanded edition examines the Chinese innovation business model based on the basic concept of firms governance structure. It builds upon five dimensions: ownership and shareholding structure; interrelation between employer and employee; interrelation between firms; financing pattern and performance criteria; and innovation system and core competitiveness. This book also compares Chinas innovation system with the American model and with the European model exemplified by Germany."

China's extraordinary economic growth is inspiring research from a wide spectrum of fields to explain the phenomenon: What are the primary drivers of China's economic growth? Can it be sustained? Can the Chinese business model be emulated by other countries? What long-term effects will China's economic growth have on the global economy? In this volume, Chun Liao explores these issues in the context of firms' governance structures, arguing that China's dual business system of state-owned enterprises and private enterprises is uniquely suited to the challenges of economic development in the twenty-first century. On the one hand, China's state-owned enterprises are characterized by state coordination, bank financing, insulation from the stock market fluctuations, and incremental productivity-enhancing innovations, which are similar to the firms in the business systems of coordinated market economies (like Germany and Japan). On the other hand, China's private enterprises are characterized by private (often family) ownership, hard budget constraints, profit maximization, and more risky radical innovation, which are similar to the firms in the business systems of liberal market economies (like the US and the UK). Based on the state controlling shareholding in the state sector, the boundary between the state sector business system and private sector business system is clear. This dual type system is contrasted with those in liberal market economies and those in coordinated market economies, where only one type system dominates. Drawing from empirical data and industry analysis over the past 15 years, Liao provides unparalleled access to the dynamics of the Chinese economy, including ownership structure, management design, labor-management relations, business infrastructure, capitalization (including role of banks and financial institutions, private investment, and FDI) in both the public and private sectors. In the process, she analyzes both opportunities and challenges.

The globalization of trade has numerous environmental implications. Trade results from a geographic separation of consumption and production. This creates a mechanism for consumers to shift environmental pollution to other countries. China is now the world third biggest trader and the second biggest trade partner of EU. China has also overtaken the U.S. as the world biggest CO2 emitter since 2005. As China's biggest trade partner, EU has a large trade deficit with China, but on the other hand, CO2 emissions embodied in Sino-EU trade are much more unbalanced than the trade imbalance itself. EU avoided a huge amount of CO2 emissions through trading with China. This lowers CO2 emissions in the EU and facilitates EU meeting its CO2 emission reduction targets, but it creates additional environmental burdens for China. In this paper, the dual imbalances between China and the EU, its mechanism, and policy implications will be presented.

We show that a welfare maximizing planner in a Cournot oligopoly can easily implement the socially optimal outcome by offering the firms a per unit subsidy in return for upfront fees. The planner announces a subsidy and auctions it off to a limited number of firms. It is shown that if at least one firm is excluded and not subsidized, the socially optimal outcome can be achieved while the planner runs no deficit. The planner does not impose any regulation on the firms. They accept his offer willingly and voluntarily. Yet, every firm makes zero net profit and consumers extract the entire surplus.

In this paper, we focus on price competition between several multiproduct firms which produce differentiated systems, each consisting of two complementary products. It is shown here that if firms are restricted to pure component pricing (bundling is not allowed) whenever components produced are compatible, pure strategy equilibrium may not exist. With the use of bundling strategies, pure strategy equilibrium always exists. For the pure component pricing case we provide a full characterization for the existence of a pure strategy equilibrium.

The talents of scientific and technological (sci-tech) innovators are crucial in maintaining the competitiveness of an organization. Based on organizational support theory, we examined the stimulation and effectiveness of sense of work gain in a survey of 459 sci-tech innovators under
three types of paternalistic leadership: authoritarian, benevolent, and moral. The results showed that authoritarian leadership was negatively related to innovators' task performance, whereas both benevolent and moral leadership were positively related to their task performance. For sense
of work gain, all three dimensions (survival, relationship, and growth gain) mediated the relationship between authoritarian leadership and task performance, and relationship gain and growth gain mediated the relationships between both benevolent and moral leadership, and task performance.
Organizational support positively moderated the relationships between the three dimensions of sense of work gain and task performance. The findings provide theoretical and practical references for improving innovators' sense of work gain and task performance.