Asian Post-Crisis Management Corporate and Governmental Strategies for Sustainable Competitive Advantage

by Haley, Usha V. C.; Richter, Frank-Jürgen

• ISBN13: 9780333949641
• ISBN10: 0333949641
• Format: Hardcover
• Copyright: 2002-05-03
• Publisher: Palgrave Macmillan

Summary

A decade ago, a writer from Fortune magazine wrote in the preface to Kim Woo Chong's book, Every Street is Paved with Gold, that Kim, the Daewoo empire's founder, "personifies the drive and imagination that makes East Asia a dynamic center of economic growth." Kim fled South Korea in late 1999, shortly after his empire crashed. From his initial exile post in Frankfurt, he submitted his resignation from all the Daewoo group's companies. He has left no clue about his whereabouts since then.Kim Woo Chong's meteoric rise as one of Asia's most powerful tycoons, and his equally spectacular fall, symbolize the Asian miracle and the prolonged crisis that threatended to destroy it in 1997 and that still hangs over the economic landscape. The system's flaws became apparent in mid-1999, when Kim acknowledged that his companies, which had acquired a global reach in a debt-fueled expansion binge, could not pay their creditors. By the time the banks that took over the Daewoo group had calculated $80 billion in liabilities, Kim was changing addresses in Europe. For Asia, lessons from the crisis indicate that traditional methods of operation through debt financing and over-investing will fail. This lesson and others are explored in Asian Post-Crisis Management . Contributers: Usha C.V. Haley - Masaaki Kotabe & Shruti Gupta - Yasuhiro Arikawa & Hideaki Miyajima - George T. Haley - Brij N. Kumar, Yunshi Mao & Susanne Birgit Ensslinger - Nancy E. Landrum & David M. Boje - Xue Li, John Kidd, & Frank-Juuml;rgen Richter - Malcolm Cooper - Yi Feng & Baizhu Chen - Howard V. Perlmutter - Sek Hong Ng & Malcolm Warner - Thomas Clarke - Keun Lee - Caroline Benton & Yoshiya Teramoto - Fred Robins - Michael A. Santoro & Chang-su Kim - Beverly Kitching - Hock-Beng Cheah & Melanie Cheah

Author Biography

Usha C.V. Haley is Associate Professor, Department of Management, University of Tennessee, Knoxville.

Frank-Jnrgen Richter is director for Asia, at the World Economic Forum, Geneva.

Table of Contents

List of Tables	x
List of Figures	xii
Notes on the Contributors	xiii
Part 1 Introduction
Post-crisis Management Strategies in Asia: An Overview	3	(14)
Usha C. V. Haley
Part 2 Post-crisis Corporate Strategies
Corporate Responses to the Asian Financial Crisis	17	(17)
Masaaki Kotabe
Shruti Gupta
Corporate Finance and its Impact on Corporate Strategy after the Bubble: Is the Long-term Strategy of Japanese Firms Really Changing?	34	(19)
Yasuhiro Arikawa
Hideaki Miyajima
Internet-based Strategies in Asia's Post-crisis Emerging Economies	53	(11)
George T. Haley
Global Strategic Management of German MNCs in China: Patterns and Determinants of Sustainable Competitive Advantage in the Aftermath of the Asian Crisis	64	(17)
Brij N. Kumar
Yunshi Mao
Birgit Ensslinger
Kairos: Strategies Just in Time in the Asian Athletic Footwear Industry	81	(21)
Nancy E. Landrum
David M. Boje
The Realization of Meanings: Understanding Expatriates' Needs in the Asian Post-crisis Environment	102	(33)
Xue Li
John B. Kidd
Frank-Jurgen Richter
Part 3 Post-crisis Governmental Strategies
Vietnam: Is Doi Moi the Way Forward in Post-crisis Asia?	135	(19)
Malcolm Cooper
Trade Policy Management, Industrial Characteristics and WTO: A Case Study of China	154	(22)
Yi Feng
Baizhu Chen
China's Choices: Scenarios for China in the Context of an Emerging Global Civilization	176	(25)
Howard V. Perlmutter
Part 4 Organizational Restructuring and Corporate Governance
Strategic Convergence or Divergence: Comparing Structural Reforms in Chinese Enterprises	201	(25)
Sek Hong Ng
Malcolm Warner
Crisis and Reform in Corporate Governance in Asia	226	(26)
Thomas Clarke
Corporate Governance and Restructuring in Korea: Before and After the Crisis	252	(29)
Keun Lee
Revolutionizing Japanese Corporate Governance	281	(20)
Caroline Benton
Yoshiya Teramoto
Part 5 Post-crisis Business Environments
Here There be Dragons: Opportunities and Risks for Foreign Multinational Corporations in China	301	(20)
Usha C. V. Haley
Impact of the Asian Crisis on Capitalism in Post-crisis Asian Business Environments	321	(32)
Fred Robins
Political Risk After the Asian Financial Crisis: A Proposal to Consider the Significance of Uneven Political and Economic Transformation	353	(8)
Michael A. Santoro
Chang-Su Kim
Women, the Disabled and Ethnic Minorities in Business in Contemporary China	361	(35)
Beverley Kitching
Sustainable Development and Sustainable Management: Promoting Economic, Ecological and Social Sustainability in Post-crisis Asia	396	(39)
Hock-Beng Cheah
Melanie Cheah
Part 6 Epilogue
Afterword	435	(3)
Frank-Jurgen Richter
Index	438