Publications Database

Welcome to the new Schulich Peer-Reviewed Publication Database!

The database is currently in beta-testing and will be updated with more features as time goes on. In the meantime, stakeholders are free to explore our faculty’s numerous works. The left-hand panel affords the ability to search by the following:

  • Faculty Member’s Name;
  • Area of Expertise;
  • Whether the Publication is Open-Access (free for public download);
  • Journal Name; and
  • Date Range.

At present, the database covers publications from 2012 to 2020, but will extend further back in the future. In addition to listing publications, the database includes two types of impact metrics: Altmetrics and Plum. The database will be updated annually with most recent publications from our faculty.

If you have any questions or input, please don’t hesitate to get in touch.


Search Results

Saravade, V., Chen, X., Weber, O., & Song, X. (2022). "Impact of Regulatory Policies on Green Bond Issuances in China: Policy Lessons From a Top-Down Approach", Climate Policy, 1-12.

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Abstract This study examines whether the green bond policies of major Chinese financial regulators’ have a direct and positive impact on the green bond market. Using Chinese green bond issuances from 2012 to 2019, we analyze green bond issuer response to top-down regulatory policies post 2014. Using a difference-in-difference model, we find a direct positive influence of green bond regulatory policies on issuance amounts. Additional analysis shows that specific issuer characteristics like ownership type (government-owned), industry type (green industry), and sector type (financial issuer) have a stronger positive reaction to policy announcements and led to the issuance of more green bonds. Our results highlight the supporting role of financial regulators in advancing the green finance agenda in China.

Nedopil, C., Dordi, T., & Weber, O. (2021). "The Nature of Global Green Finance Standards—Evolution, Differences, and Three Models", Sustainability, 13(7), 3723.

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Abstract (1) Background: Green finance standards have proliferated with much need for harmonization to accelerate global green financial flows. However, little is known on the nature of green finance standards that accelerates differentiation, rather than harmonization. Therefore, we embark to answer the question what the nature of green finance standards is and specifically how green finance standards have evolved in major economic systems driven by different actors and leading to differences and commonalities over time and environmental focus area. (2) Methods: To analyze the question, we build a model based on institutional and standards theory and apply text analysis and statistical methods to analyze 84 green finance standards issued from 1998 to 2020. (3) Results: we find clear evidence that green finance standards evolve depending on economic governance types (e.g., market-based, government-based and in weak institutional environments), environmental focus areas (e.g., pollution, climate, biodiversity) and depend on actors in government, intermediaries and developing financial institutions. We also show that this development has been dynamic over the last few decades. We further test and confirm three models of green finance standards: output-based, input-based and process standards that have evolved. With the findings, we aim to provide a better foundation for both research and policy in future green finance standard research, development and harmonization.

Peng, S., Bewley, K. and Graham, C. (2021). "On Theoretical Engorgement and the Myth of Fair Value Accounting in China: A Reply", Accounting, Auditing and Accountability Journal, 34(1), 54-57.

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Abstract Purpose: This article is a reply to “On theoretical engorgement and the myth of fair value accounting in China” Nobes (2019) from the authors of “Adaptability to fair value accounting in an emerging economy: A case study of China's IRFS convergence” (Peng and Bewley, 2010) and “The Winding Road to Fair Value Accounting in China: A Social Movement Analysis” (Bewley et al., 2018). Design/methodology/approach: This article engages directly with the arguments of the criticism. Findings: This article argues that the author of the commentary misunderstands the purpose, content and findings of both papers. By providing only a narrowly focused technical analysis of the new Chinese accounting standards, the author fails to see that their qualitative research approach reveals important, complex social and political factors at play in China's attempts to adopt modern international accounting principles. The commentary expresses a view that accounting is a neutral technology that needs only to be clearly defined and enumerated to be correctly implemented, whereas this research takes a much broader and deeper perspective. The authors seek to understand how China was able to successfully adopt fair value accounting standards in 2006, whereas an earlier attempt to introduce fair value in 1998 had led to abuse of fair value measurements and the eventual repeal of fair value regulations in 2001. Practical implications: This article helps clarify the purpose of qualitative accounting research, the role of theory in such research and the usefulness of theory in describing and explaining empirical case facts related to changes in accounting standards, particularly in an international context. Originality/value: This article contributes to a better appreciation of qualitative accounting research.

Liu, Y., Chen, S., Bell, C. and Tan, J. (2020). "How Do Power and Status Differ in Predicting Unethical Decisions? A Cross-national Comparison of China and Canada", Journal of Business Ethics, 167(4), 745-760.

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Abstract This study examines the varying roles of power, status, and national culture in unethical decision-making. Most research on unethical behavior in organizations is grounded in Western societies; empirical comparative studies of the antecedents of unethical behavior across nations are rare. The authors conduct this comparative study using scenario studies with four conditions (high power vs. low power × high status vs. low status) in both China and Canada. The results demonstrate that power is positively related to unethical decision-making in both countries. Status has a positive effect on unethical decision-making and facilitates the unethical decisions of Canadian participants who have high power but not Chinese participants who have high power. To explicate participants’ unethical decision-making rationales, the authors ask participants to justify their unethical decisions; the results reveal that Chinese participants are more likely to cite position differences, whereas Canadian participants are more likely to cite work effort and personal abilities. These findings expand theoretical research on the relationship between social hierarchy and unethical decision-making and provide practical insights on unethical behavior in organizations.

Bell, C., Min, Y.A. and Stein, A.M. (2020). "Does “the servant as leader” Translate Into Chinese? A Cross-cultural Meta-analysis of Servant Leadership", European Journal of Work and Organizational Psychology, 29(3), 315-329.

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Abstract Servant leadership is a popular style of ethically-based leadership developed in the cultural context of the United States and other Anglo-Saxon (Anglo) countries with a similar culture and managerial context. However, much of the empirical research on this leadership style has been conducted in China, a country with very different cultural and managerial traditions. It is not known whether the results of research conducted in China can be integrated into a general theory of servant leadership. It is also unknown whether servant leadership, which is widely promoted as an effective leadership style in Anglo countries, will be equally effective for all employee outcomes in China. To answer these questions, we perform a meta-analysis of servant leadership research (k = 112, n = 35,716) which compares the effects of servant leadership on employees in China with its effects on employees in Anglo countries. Results show that there is no significant difference in effect sizes between Chinese and Anglo employees for job performance, organizational citizenship behaviour, creative behaviour, affective commitment, and job satisfaction. The effect of servant leadership on leader-member exchange may be stronger for Anglo employees. Implications for servant leadership theory and managerial practices in China are discussed.

Aulakh, P.S., Cui, L. and Hu, H. (2019). "State Capitalism and Performance Persistence of Business Group Affiliated Firms: A Comparative Study of China and India", Journal of International Business Studies, 50(2), 193-222.

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Abstract Business groups emerged in developing economies through direct or indirect support from the state in order to overcome a variety of institutional voids and/or to further state objectives of economic growth. However, the efficacy of this organizational form and its associated governance structures have been debated given the dual possibility of business groups to allocate resources amongst its affiliates for crosssubsidization or winner-picking. We argue that elements of the institutional environment comprising of the state’s approach to organizations and the political context of these interactions vary across countries, thereby influencing business groups’ resource allocation strategies and affecting the persistence of affiliated firms’ superior performance. Contrasting the types of state capitalism in China and India, we develop and test our hypotheses. We find that the effect of business group affiliation on firms’ superior performance persistence is stronger in a state-led system of state capitalism (e.g., China) than in a cogoverned system (e.g., India) and that this divergence of the business group effect is weakened as affiliated firms internationalize. Our findings have implications for understanding business groups across institutional contexts and the influence of diversity in the types of state capitalism on organizational strategies.

Huang, D., Pan, Y. and Xu, J. (2019). "Intra-Firm Subsidiary Grouping and MNC Subsidiary Performance in China", Journal of International Management, 25(2), 1-16.

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Abstract Many multinational corporations (MNCs) operate multiple subsidiaries in a foreign country. Drawing upon literature of organizational network and business group, we hypothesize that the number of subsidiaries of an MNC has an impact on subsidiary financial performance in China. We further hypothesized two moderating effects, namely subsidiary's country of origin and subsidiary size. The results show that subsidiary grouping effect is more salient for subsidiaries from Japan and South Korea, and that larger subsidiaries are less affected by the subsidiary grouping effect. Our empirical results were based on a sample of 40,315 MNC subsidiaries in China. The findings underscore the importance of group-based competitive advantages of MNC subsidiaries in international business.

Weber, O. (2018). "Corporate Sustainability and Financial Performance of Chinese Banks", Sustainability Accounting, Management and Policy Journal, 8(3), 358-385.

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This paper analyzes the connection between the sustainability performance of Chinese banks and their financial indicators to explore whether sustainability regulations can be implemented without decreasing the financial performance of the banking sector.


The study examined reports and websites of Chinese banks, categorized different corporate sustainability aspects and conducted panel regression and Granger causality to analyze cause and effect variables.


The environmental and social performance of Chinese banks increased significantly between 2009 and 2013. Furthermore, a bi-directional causality between financial performance and sustainability performance of Chinese banks has been found. Based on institutional theory, this interaction may be influenced by the Chinese Green Credit Policy.

Research limitations/implications

The findings suggest that corporate sustainability performance and financial performance are not a trade-off but correlate positively. Further research is needed to analyze the effect of financial regulations, such as the Chinese Green Credit Policy.

Practical implications

According to the good management theory by Waddock and Graves (1997) that claims a positive impact of corporate social performance on financial performance, Chinese banks can invest in corporate sustainability to increase their financial success and re-invest parts of the additional returns – also called slack resources – in sustainability activities.

Social implications

Chinese banks are able to influence the economy to become greener and less polluting without sacrificing financial returns.


This is the first study to explore the sustainability performance of Chinese banks, including their products and services.

Zhang, H.J., Young, M. Sun, W. and Tan, J. (2018). "How Chinese Companies Deal with a Legitimacy Imbalance when Acquiring Firms from Developed Economies", Journal of World Business, 53(5), 752-767.

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Abstract Chinese companies are increasingly pursuing acquisitions from developed economies (DE) with varying degrees of success. Because of their late-comer and emerging-economy (EE) status, Chinese firms are often perceived as having less legitimacy than the firms they are acquiring. In this study, we examine how Chinese companies’ deal with this legitimacy imbalance by investigating five cases where Chinese firms acquired firms from more developed economies. We find that there is a difference in internal and external legitimacy vis a vis internal and external stakeholders, and that their relative importance changes over the course of the merger process. External legitimacy is more important in the pre- and during- merger stages, while internal legitimacy plays a more important role in the post- merger stage. In addition, we find that during the three stages of the merger process, Chinese MNEs utilize various strategies in an attempt to address the legitimacy imbalance when entering a developed economy, such as relationship building, cooperation with co-investors, allowing the acquired company to operate independently in the first few years, and operational commitment. We discuss the implications of these findings for researchers and practitioners and suggest future research directions.

Bewley, K., Graham, C. and Peng, S. (2018). "The Winding Road to Fair Value Accounting in China: A Social Movement Perspective", Accounting, Auditing and Accountability Journal, 31(4), 1257-1285.

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Abstract Purpose: The purpose of this paper is to examine China’s stop-start adoption of fair value accounting (FVA) into its national accounting standards. The paper analyzes how FVA standards promoted by transnational organizations were eventually adopted in China despite its conservative accounting traditions. Design/methodology/approach: The study uses archival records and an analytic framework adapted from the studies of social movements to identify the institutional factors that differ between China’ first unsuccessful attempt to adopt FVA and its second successful attempt. Findings: Shared interests of elite national and international groups, creation of social infrastructure, marshaling of key resources, and specific actions to frame FVA standards are found to be crucial factors supporting FVA reform in China. Practical implications The study helps advance our understanding of dissemination of international accounting regulations in non-Western societies. The findings can help accounting standard setters to avoid costly failures. Originality/value: The study provides a structured analysis of the propagation of global accounting regulations. It exposes the factors in the failure and success of FVA adoption in China.