Social capital can serve as informal governance in weak investor-protection regimes. Using hand-collected data on entrepreneurs’ political connections and firm ownership, we construct several original measures of social capital and examine their effect on the performance of entrepreneurial firms in China after their initial public offerings. Political connections or a high percentage of external investors tend to enhance firm performance, but intragroup related-party transactions commonly lead to performance decline. These forms of social capital have a strong influence on the performance (...) of Chinese firms, whereas formal governance variables such as board size or board independence have little effect. Although social capital may serve as an informal governance mechanism and effectively substitute for formal governance mechanisms in an emerging market, this role of social capital raises several ethical concerns, notably the development of rent-seeking and crony capitalism. (shrink)
Inspired by Friedrich Nietzsche's idea of philology and William Gass's concept of transreading, Huiwen (Helen) Zhang employs “transreader” to suggest the integration of four roles in one: reader, translator, writer, and scholar. “Transreader” recognizes that close reading, literary translation, creative writing, and cultural hermeneutics are interdependent activities with intertwined goals: to transfer, transvalue, transform, and transcend the canon. From this perspective, Lu Xun, China's Nietzsche, is a twentieth-century transreader of the canon, and his prose poem “Revenge (The Second)” delivers a (...) self-referential ethics of transreading. Zhang's transreading of this poem shows why slow reading is today more necessary than ever, in what sense translation is a universal dilemma, how humanity grows when its expression grows more subtle, and that transreading opens a space for genuine communication. (shrink)
The financial market is a highly complex and dynamic system that has great commercial value; thus, many financial elite are drawn to research on the subject. Recent studies show that machine learning methods perform better than traditional statistical ones. In our study, based on the characteristics of financial sequence data, we propose a wrapped ensemble approach using a supervised learning algorithm to predict stock price volatility of China’s stock markets. To check our new approach, we developed an intelligent financial forecast (...) system and used the Hushen 300 index data to test our model; it proves that our model performs better than a single algorithm. We also compared our model with the famous ensemble approach of bagging, and the result shows that our model is better. (shrink)
One important element of globalization is the dissemination of western educational ideals and organizational frameworks through educational development projects. While postcolonial theory has long offered a useful critique of this expansion, it is less clear about how educational development that eschews neo-imperialist tendencies might proceed. This problem poses a question that requires philosophical reflection. However, much of comparative and international development education ignores philosophical modes of inquiry. Moreover, as Libbrecht (2007) argues, philosophy all too often sees itself as synonymous with (...) the Euro-American intellectual tradition, thus ignoring indigenous educational thought that might more appropriately guide local educational development. Drawing on John Dewey's (1938) call for deeper and more inclusive plans of operations in response to social conflicts and Jurgen Habermas (2008) call for ?reciprocal learning processes? and ?cooperative acts of translation,? we will attempt to reach beyond our individual philosophical borders to explore the necessity and possibilities of comparative philosophy of education by sharing three examples of our current efforts to apply philosophical analysis to international educational development. These examples will articulate and embody the necessity and the challenges of applying philosophical analysis to educational development work. (shrink)
This book addresses an often-ignored theme in the mission of the current Chinese education reform: cultivating students’ individuality as a foundation of learning. Moreover, it tries to revive the Confucian tradition of self-cultivation while building a connection with the western idea of individuality to provide a meaningful resource for the current reform of Chinese education.