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Purpose – Although the existing literature indicates the strategy of decentralization adopted by the Chinese government has permitted the introduction of transnational higher education (TNHE) into mainland China at its very beginning in the 1980s, relatively little research has been conducted to explore the effects of the ensuing-released policies on the development of TNHE after then, especially at institutional level. The purpose of this paper is to fill this research gap by presenting data/information about recent development of TNHE in China and analyzing teachers’/students’ perceptions of autonomy enjoyed by the newly emerging cooperation type, Sino-foreign cooperation universities. Design/methodology/approach – Based upon the purposive sampling method, we chose University A and B as case studies in this research to ensure the representativeness, since they cooperate separately with the major exporters of TNHE in China. In addition, key informants and snowball sampling were adopted to select our respondents. In total 5 administrative staff and 12 students were interviewed to evaluate their working/ learning experience there. The detailed information about the interviewees are listed as Appendix. Findings – The fieldwork conducted in 2014 and 2015 reveals the governance model toward Sino-foreign cooperation universities could be categorized as predominantly decentralized. Specifically, the authors listed the most obvious aspects showing the different level of autonomy enjoyed by different cooperation types below: the internal administrative structure, the enrollment capacity, the criteria of admission and the quality assurance method. Originality/value – This paper critically explores how local education bureaus regulate these TNHE programs in general and monitor the operation of the overseas university campuses being founded in China in particular. In addition, this paper also reports the field interviews with faculty members and students, particularly their evaluation of working/learning experiences in the field of TNHE. Most important of all, this paper critically reflects upon the changing educational governance and explores what regulatory regime could better conceptualize the changing state-TNHE relations in China.

The aim of the article is to provide a scientific and analytical substantiation of the key directions of the transformation of Ukraine’s entrepreneurial environment under conditions of full-scale war, taking into account regional asymmetry, cluster changes, and sectoral shifts, which allows outlining the prerequisites and limitations for the restoration of business activity during the wartime and postwar periods. The article is dedicated to the study of the transformation of entrepreneurial activity in Ukraine under the conditions of the full-scale war that began in 2022. It analyzes the impact of the war shock on the business environment through macroeconomic losses, destruction of the production and infrastructure base, disruption of logistics chains, mass business relocation, and the strengthening of territorial asymmetry in economic development. The features of the recovery of business activity in regional and sectoral dimensions have been studied, and structural shifts in entrepreneurship have been outlined, in particular the growth of the role of small and medium-sized businesses, the service sector, IT, and agro-processing amid the decline of capital-intensive and infrastructure-dependent industries. The importance of cluster initiatives in creating new points of economic growth in relatively safe regions and their role in enterprise cooperation and integration into European value chains has been substantiated. The impact of changed regulatory regimes and national anti-crisis measures on business conditions, as well as the adaptive and behavioral strategies of entrepreneurs in conditions of high uncertainty, has been analyzed. It is concluded that the further trajectory of the recovery of the entrepreneurial environment in Ukraine will be determined by the consistency of support policies, institutional capacity, and predictability of regulatory rules in the wartime and postwar periods.

Despite forces struggling to reduce global warming growing stronger, there has been mixed success in generating substantive policy implementation, while the global spread of the coronavirus has prompted strong and far-reaching governmental responses around the world. This paper addresses the complex and partly contradictory responses to these two crises, investigating their social anatomies. Using temporality, spatiality, and epistemic authority as the main conceptual vehicles, the two crises are systematically compared. Despite sharing a number of similarities, the most striking difference between the two crises is the urgency of action to counter the rapid spread of the pandemic as compared to the slow and meager action to mitigate longstanding, well-documented, and accelerating climate change. Although the tide now seems to have turned towards a quick and massive effort to restore the status quo—including attempts to restart the existing economic growth models, which imply an obvious risk for substantially increasing CO2 emissions—the article finally points at some signs of an opening window of opportunity for green growth and degrowth initiatives. However, these signs have to be realistically interpreted in relation to the broader context of power relations in terms of governance configurations and regulatory strategies worldwide at different levels of society.

Distribution system planning is a multifaceted topic involving financial, regulatory, and system level analysis. The wide nature of the topic warrants a holistic study considering all aspects of analysis. The distribution utility is a natural monopoly that is subjected to utility regulation. The regulator can impact customer experience by strategically influencing the planning decisions of the utility. Hence, this paper reviews the existing utility regulation methods in the context of the distribution system and their efficacy in improving certain reliability and efficiency objectives. A two‐bus system is used to demonstrate the impact of classical models in alleviating reliability and efficiency issues through demand response. Further, a review is conducted on distribution system planning models without a regulatory regime, and suitable models for holistic analysis are identified. A two‐person complete information regulator and utility game with a comprehensive distribution system model at the lower level is proposed. A framework based on the Mixed Integer Bilevel Linear Program (MIBLP) is discussed to find the equilibrium point of the proposed game.

Robust regulation has become a pursuit in risk governance of offshore drilling operations over the recent decade. However, the idea of robust risk regulation has not been fully developed in China. This paper aims to explore what affects the robustness of risk regulation and how can a robust regulatory regime for offshore drilling operations be achieved in China. It begins with an identification of risks and values of the offshore petroleum industry, highlighting that robust regulation is the primary means to manage such risks in offshore drilling operations. It then discusses dimensions of regulatory robustness and assesses and compares regulatory regimes for this high-risk offshore petroleum industry in the United Kingdom, Norway, the United States and China. In specific, the Chinese paths to govern the risks of offshore operations are summarized. A key theoretical debate on regulating offshore drilling operations is which regulatory modes can better facilitate the robustness of risk regulation. The command-and-control regulation and self-regulation represent two primary regulatory modes of offshore risk regulation. The former is strongly dependent upon public enforcement while the latter emphasizes internal continuous improvement of the offshore petroleum industry. To develop robust offshore regulation in China, this paper suggests that a certain combination of the two modes is necessary to deliver optimal regulatory outcomes.

Banking crises inevitably bring forth more and different regulation of banks, and the global crisis from mid-2007 to early 2009 was no exception as the aftermath of the crisis witnessed one of the biggest-ever upheavals in international banking regulation. The regulatory pendulum has had a long history, as bank regulation has varied in ambition and complexity over many decades. This article is intended to question whether the new regulatory regime for banks implies disproportionate and excessively complex regulation, with attendant and unnecessary private and social costs. We identify several pressures tending towards over-regulation. In particular, as regulation has a cost, but no price, it may falsely be viewed as a “free good” with a consequent tendency for it to be both over-demanded and over-supplied by risk-averse regulators. Whilst each addition to regulation taken alone might seem to satisfy cost–benefit criteria, a large number of apparently desirable regulations may mean that the totality of regulation becomes disproportionate for the key regulatory objectives. Cost–benefit analysis should, therefore, also be applied to the totality of regulation. Historically, the focus of regulatory regimes has been on reducing the probability of bank failures (with a tendency for rules escalation) rather than minimising the costs of those failures that do occur. There can be a trade-off between the two in that the lower are the costs of bank failure (via, for instance, strong resolution arrangements) the less need there could be for regulation to lower the probability of bank failures. The debate needs to be about the appropriate weight to be given to these two important dimensions of the regulatory regime.

Purpose This paper aims to provide an overview of different issues related to jurisdictional arbitrage found in general regulatory arbitrage literature and their projection to the specific area of cryptoasset regulation. Design/methodology/approach By distinguishing any parallel, analogous and neighbouring concepts, this paper attempts to clarify the notion of jurisdictional arbitrage. By discussing certain aspects and effects of three regulatory regimes, BitLicense, 5th Anti-Money Laundering Directive (AMLD5) and the European Commission’s Proposal for a Regulation on Markets in Crypto-assets (MiCa), it makes clear that national/State/regional policymakers have already failed to create arbitrage-proof regulatory frameworks by acting exclusively within their jurisdictional limits. Against this background, this paper discusses briefly regulatory competition and international harmonisation as alternative solutions to inappropriate and ineffective national/regional legislative approaches. Findings Based on a structured theoretical analysis, this paper reaches three important findings. First, academics, international bodies and other commentators use inaccurately the general concept of “regulatory arbitrage” to refer to the specific problem of jurisdictional arbitrage creating in this way an interpretative confusion; second, commentators confuse jurisdictional conflicts with jurisdictional arbitrage; third, the solutions to this regulatory problem can actually be found in its underlying causes. Originality/value To the best of the author’s knowledge, this is the first specific-issue paper on jurisdictional arbitrage in the context of cryptoasset regulation and aims to trigger further academic discussion on this evolving phenomenon and inform the development of future cryptoasset regulation combatting this problem.

This article analyses a recent policy change in higher education in Hong Kong to determine the significance of politics in the conceptual understanding of higher education governance. To achieve this objective, the article examines the tension between the global agenda, which is characterised by neoliberal ideology and practices, and local needs, which explain the political interests of governments in higher education policy and justify government intervention in higher education. The article initially delineates neoliberal reforms in the 2000s and subsequently reviews the ideology of governance and the regulatory regime in the Hong Kong higher education system. Then, it analyses the recent policy change. Based on this analysis, the article argues that higher education governance in the city is undergoing a paradigm shift, with which the essence of governance has shifted from managing globalisation to managing the tension embedded in the global-local dynamics of agenda setting in higher education policy.

This empirical study innovatively investigates how the choice of a pass-through business entity and corresponding regulatory regime influence firms’ earnings management (EM) behaviors by testing on the UK Real Estate Investment Trust (REIT) conversion. A substantial proportion of UK non-REIT publicly traded property companies (LPCs) have chosen to become REITs since the UK REITs were launched in 2007. We conduct a series of tests on a database containing UK LPCs and REITs from 2000 to 2019 and find that conversion into pass-through business entity regimes like REITs that enjoy more favorable tax treatment but face more restrictions leads to more accrual earnings management (AEM) activity, but less real earnings management (REM) activity.