Purpose - This paper aims to investigate the economic consequence of the tax reductive strategy on stock price. The authors' theory, empirically reinforced, suggests managerial tax aggressiveness endangers the corporation through a heightened risk in stock price crashing. Information opacity worsens the situation by reinforcing the relationship. Policymakers should emphasize two aspects: market openness and tighter institutional monitoring. The evidence shown in this paper demonstrates that these two weaken the tax aggressiveness impact on risk of a crashing stock price.Design/methodology/approach - The sample in this paper consists of 9,702 observations from listed firms from 2008 to 2013 in China. The tax rate is manually collected and all the other original data used in this study are sourced from Wind and China Capital Market and Accounting Research databases. Both logistic regression and ordinary least squares regression methods are used to test the hypothesis in this paper.Findings - One key insight is in tax aggressiveness to be strongly correlated with a greater risk of future stock price crashing. The authors also found information opacity to exert a positive moderating effect. That is, the higher the information opacity, the stronger and more positive the correlation between tax aggression and stock price crash risk. However, the market process and an institutional investor have opposite, negative impacts. An open market environment reduces their correlativeness. Similarly, stronger institutional vigilance leads to an attenuation of such a co-relationship.Practical implications - The findings of this paper have wide policy implications for management and control by authorities of listed corporations. Aggressiveness in management of corporate taxes accentuates the risks borne by stockholders. If so, internally within the corporation, such aggression shown by management, if not proscribed, could be subject to scrutiny, possibly by an independent committee. Externally, this may be countered by the authority in emphasizing three key factors: openness in information sharing, the market environment and tighter institutional monitoring.Originality/value - This study provides a consequential theory of aggressive management of tax, rigorously analyzed and strongly, empirically supported. Overall, aggressiveness in tax management is related with assumption of higher risks in the crashing of stock price. The relationship is enhanced through information opacity, but reduced via market environment and institutional monitoring.

PurposeThe aim of this paper is to illustrate how scholars may adopt a multi‐method – not just multidisciplinary – approach on research on conflict management. Taking the Diaoyu Islands as a case, the author draws on literature from management, political sciences, war, military studies, history, etymology and culture. In the process, the author deepens, enriches and expands the Thomas‐Kilman (T‐K) model for mapping out possible solutions in resolving conflicts: not just between people at workplaces but for between states as well. For instance, the author explains why the Diaoyu Islands conflict, if not amicably resolved may well lead to obliteration (integrated as part of the model) in resolving the conflict via a nuclear outbreak. Third World War may just be sparked off with Russia aligned with China against Japan and the USA.Design/methodology/approachOf all the issues in management, conflict management is the most culturally embedded. Through a multi‐method approach, the author illuminates the complexity of the Diaoyu Islands case. Literature from past empirical war studies are reviewed to suggest the geography of the islands (proximity, borderless, richness of resources) makes war highly probable. Past Chinese‐Japanese hatred (utilizing visual imagery), antagonism andguanxiare reviewed in exploring their impacts on outcomes (see model). Etymological research is attempted using English, Japanese and Chinese words, characters and pictograms that are related to concepts within the T‐K model. To better grasp how young Chinese feel towards the Diaoyu Islands and the Japanese, the author conducted some field research in Harbin, China. The continuing Chinese angst against Japanese is explained through war imagery: there remains in young Chinese an unquenchable thirst for exacting revenge on the Japanese. In a search to uncover ways of resolving the dispute, a further, extended study is undertaken onancientChinese pictograms: for example, whether a 5,000 years old Chinese concept of compromisezhe zhong(Graphic 1; oracular bones) or splitting into halves may be relevant. The role of time in conflict management is discussed in relation to the Diaoyu Islands.FindingsBy providing the WWII visual imagery as a backdrop to Chinese‐Japanese antagonism, the author explains to readers why the Diaoyu Islands is such a complex case to resolve. Also in his fieldwork, he highlights that theyoungerChinese are as equally indignant about Japanese unethical grabbing, “thieving” behaviour. In their minds, such behaviour harks back to the blatant seizure of Manchuria and Japanese puppetry of Manchukuo. Through the Diaoyu Islands case, the T‐K model and theory of conflict management is broadened, enriched and enhanced. The paper illustrates how in conflicts that involve cultures are very different from the West, for instance very ancient civilizations like China and India, authors should take a multi‐method approach and explore the issues and search for solutions far more deeply.Originality/valueVery few scholars seek to integrate the two streams of research in resolving conflict as illustrated through this paper: management and social sciences (e.g. political sciences, military and war studies). Conflict is about people and therefore integral use of multi‐methods needs to be used.

PurposeIn the Western world, Carl Jung was the first to posit a theory of synchronicity to explain the startling divinatory power of the I Ching. Yet long before his time and unbeknownst to the West, the Chinese had already institutionalized as their tradition, simple practices for enabling decisions grounded on the synchronous concept. The purpose of this paper is to explain the process from within the context of Chinese Buddhist spirituality.Design/methodology/approachThe approach here is to provide the background of Han Chinese Buddhism in modern China and within it, the wide practices of Kuan Yin spirituality and introducing the tools that the Chinese devised for consulting the Goddess of Mercy, as Kuan Yin is otherwise known. Then a discussion is made, for the first time, of the underlying mechanics as well as the mind and energy aspects. Having so introduced the religious background, spirituality, tools and mechanics, the processes of temple consultations for decisions are then explained. In the discussion, a framework for classifying decisions is outlined along with probability concepts. There is also the requirement for the inquirer to seek a metaphorical interpretation of the poetic imagery as contained in the Qian (a slip of paper).FindingsThrough writing this paper, the author wishes readers, both managerial and those in research, to understand what is still the approach (even more widely in China now than before) in how the Chinese – in and outside of China – approach the task of making major, complex decisions. These practices which date from antiquity clearly suggest the Chinese had gone beyond Jungian synchronicity in translating the theory into practice for decision making. In other words, they had long recognized the need for tools, techniques and approaches to help them make complex, difficult decisions: decisions that often go beyond the rational boundaries of the mind.Practical implicationsWith the rising impact of the Chinese on the global economy and society, there is clearly a need for works that explain major Chinese processes such as the making of decisions. The art of decision making by the Chinese on the basis of what Jung theorized as synchronicity should become much better understood by researchers and managers.Originality/valueThere are very few academic papers exploring the process of Kuan Yin consultation in decision making by the Chinese. Yet this can be seen across many temples in everyday China and overseas Chinese communities as well as in Japan, Korea and Vietnam. The understanding of such processes is necessary for anyone, who wishes to grasp the minds of the Chinese as regards the process involved in the making of major decisions.

PurposeThe purpose of this paper is to suggest an emerging paradigm by synthesizing what is presented at an Asian Productivity Organization (APO) study meeting. The meeting focuses on business strategy development. The author acts as the Chief Facilitator during the meeting. The paradigm is intended to help CEOs of firms in Asia to re‐model their businesses in light of rising, innovative China.Design/methodology/approachThe APO (Japan) and China Productivity Center (Taipei, Taiwan) recently organized a Taipei study meeting. The theme of the meeting was on “post‐global financial crisis, (small, medium sized enterprises) SMEs' business development strategy”. In‐depth, rich experiences were shared during the discussion following the presentations. Founding CEOs, Presidents and senior leaders from industry were involved from the following countries: India, Indonesia, Iran, Japan, Korea, Malaysia, Philippines, Singapore, Taiwan, Thailand, and Vietnam. Reflecting upon the materials presented, the author develops, through synthesis, an emerging Asian paradigm for evolving newer business models as part of organizational strategy development.FindingsPeople always compete in the future. For businesses, besides keeping old customers, it is about the winning of contracts. For example, in the telecom industry, there is intense competition to produce newer, more innovative hand‐held devices. In the coming years, products using Chinese innovation will actively compete in the global marketplace. This pan‐Asia paradigm is useful for CEOs to begin to think about re‐shaping their business model to compete in the next wave.Originality/valueSince the industrial age and up to very recently, ideas, concepts, methods, techniques, inventions, innovations and business models have been “borrowed” from the West by Asians and adapted to local environments. With the global crisis and consequently a deep weakening of Europe and the USA, there is a growing consensus among top management in Asia: that new thinking on management, for example in business modeling, ought to be drawn from the East. Thus, it is timely for the APO to be organizing such a study meeting.

ificial Intelligence (AI) is now widely used across a wide variety of fields. Yet, there are so far very few reported in-depth experimental studies utilising artificial intelligence in modelling cognitively of how the brain or mind processes aesthetics. In this paper, we document our study of aesthetical judgements via Artificial Neural Network (ANN). A technology inspired from neuronal processes of the brain is here enabled through training to derive meanings from symbolic designs. The insights gained from our cognitive neurodynamic modelling of the processes are presented. To the best of our knowledge, ours is probably the first prototypical artificial judge of aesthetics ever created: one capable of assessing designs in a human-like fashion.

Purpose - On September 18, 2007, the Federal Reserve Open Market Committee took a major step by cutting the federal funds rate by one-half a percent (50 basis points). The only time this had happened in the USA was immediately after the September 11, 2001 attacks. Then the sub-prime derivatives market threatened to engulf the US economy under a dark cloud of uncertainty. The purpose of this paper is an attempt to draw lessons relevant to international financial strategy from the US sub-prime crisis.Design/methodology/approach - This paper presents reflections upon the sub-prime derivatives market that had begun to evolve since 1993. Reviewing the situation from then until as late as of October 18, 2007, five key lessons are conceptualized. Where possible, insights on the major lessons to be drawn are rendered through simple diagrams.Findings - Five major lessons may be drawn from the sub-prime turmoil. For easy citation, these are presented as idioms: "Do not put all bad eggs in one basket," "Excessive demand outbalances risk and return," "Robustness of actions for resolving a crisis," "Banks to stay respectable as banks," "Outcome of innovation, greed, and politics." In conclusion, all these lessons are integrated through an overview.Practical implications - These lessons are explained in a manner so as to render them useful for both practitioners in the financial industry globally and a broader audience of interested readers. In particular, a thinking approach to learning is emphasized. Financial innovators are reminded of the wisdom of the ancients (eggs in a basket), and the applications of artificially intelligent forecasts of financial futures; specifically, US$ exchange rates are brought into the discussion.Originality/value - This is an original piece of thinking on what lessons may be drawn from a major highly turbulent event: the sub-prime crisis. It is an event that is a direct consequence of innovation in the financial markets.

Human recognition of patterns is one underlying key to knowledge development. Yet pattern recognition as the basis for generating knowledge is only recently emphasized in the literature. It is through classification of objects (eg. butterflies) and establishing taxonomy that fields of knowledge are established. Also intelligence emerges through human beings cognizant of types within a typology. The empirical meaning of artificial intelligence (AI) in this cognitive sense is explored here: recognizing and then classifying objects through identifying patterns. Here we document our attempts to model expertise to construct a typology of Tibeatan dzis . We simulate expertise that required visual, cognitive and memory accessing capabilities. Whilst there is adequate literature on pattern recognition of two- dimensional objects (eg. Chinese characters), there are relatively fewer studies on the construction of artificially intelligent systems of 3D objects. Yet in the real world, objects that are classified are more often three-dimensional than of the two dimensions.

9 We theorize that organizing learning activities in high-technology firms differs from those in 10 conventional manufacturing. Using controls, we found empirical support for our hypotheses, which are 11 due to market turbulence. High-technology-driven firms had to face a rapidly changing, highly volatile 12 environment with disruptive and destructive changes. Inspired by our findings, we suggest an 13 extension to the Burns and Stalker’s idea of the ‘‘organic’’ firm—a neural firm paradigm in 14 interpreting people–technology interactions. For high-technology firms having to cope with market 15 turbulence, we argue for ‘‘plasticity’’ in organizing. D 2002 Published by Elsevier Science Inc. 16

We theorize that organizing learning activities in high-technology firms differs from those in conventional manufacturing. Using controls, we found empirical support for our hypotheses, which are due to market turbulence. High-technology-driven firms had to face a rapidly changing, highly volatile environment with disruptive and destructive changes. Inspired by our findings, we suggest an extension to the Burns and Stalker's idea of the “organic” firm—a neural firm paradigm in interpreting people–technology interactions. For high-technology firms having to cope with market turbulence, we argue for “plasticity” in organizing.