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    Three essays on corporate finance studies in China : a thesis presented in fulfilment of the requirements for the degree of Doctor of Philosophy in Finance at Massey University, Palmerston North, New Zealand
    (Massey University, 2023-11-13) Yue, Shuai
    This thesis investigates three aspects of listed firms in the Chinese market. The first essay in the thesis examines the impact of state ownership on firm performance using hand collected ownership data of firms with state-private mixed ownership structures. We find a U-shaped relationship between state ownership and firm performance. At lower levels, state ownership has a negative association with firm performance, but beyond a certain threshold (e.g., 55% for ROA and 44% for Tobin's Q), state ownership becomes positively associated with firm performance. This finding indicates a trade-off between the negative effects of grabbing hand and the monitoring benefits of state owners. In addition, the introduction of strategic investors moderates the influence of state ownership on firm performance. The results show that the U-shaped impact of state ownership on firm performance diminishes after the introduction of strategic investors, implying that strategic investors may mitigate the underperformance observed around the threshold state ownership levels. The second essay focuses on the corporate information environment. It investigates the behaviour of firms with politically connected executives regarding information disclosure when subject to government inspection influences. China initiated the central environmental protection inspection in 2016. We find that while firms with politically connected executives generally exhibit lower stock price crash risk, these politically connected firms are more prone to crash risk when subject to inspection influences than firms without political connections. Further, we examine whether the inspection effect on crash risk varies based on the type of political connections developed by executives, namely achieved and ascribed political connections. Our results show that firms with executives having achieved political connections are related to higher crash risk when under government inspection influences, but no significant impact is observed for firms with executives having ascribed political connections. The final essay examines the influence of firms’ exposure to economic policy uncertainty (EPU) on environmental investment and investigates whether firm size plays a significant role in this relationship. We find that although small firms are generally associated with lower levels of environmental investment compared to large firms, there is a positive association between small firms’ EPU exposure and environmental investment, indicating that small firms are more inclined to invest in environmental initiatives when facing higher EPU exposure.
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    The impact of corporate political connections and political instability on audit fees and earnings quality in Pakistan : a thesis presented in partial fulfilment of the requirements for the degree of Doctor of Philosophy in Accountancy at Massey University, Albany, New Zealand
    (Massey University, 2018) Ahmad, Fawad
    This study investigates the impact of corporate political connections on audit fees and earnings quality. Prior literature reports that politically connected companies pay higher audit fees and have poor earnings quality. The key motivation of this study hinges on the argument that in some institutional settings, there can be multiple power sources with dissimilar degrees of resource allocation and decision making abilities. This will affect the costs and benefits accrued to politically connected companies. For example, Pakistan has two visibly distinct power sources, political institutions, and the military. Political institutions are fragile and politicians are prone to public, media, and judicial scrutiny. The military has emerged as a key power player enabling them to command the process of resource allocation. Based on this visible distinction of the power streams, this study segregates politically connected companies in Pakistan into two groups, companies connected to the political elites, termed as civil connected companies and military connected companies. This study also examines the impact of political instability on audit fees and earnings quality. Prior literature examining the impact of political instability reports that political instability results in higher business risk and poor economic performance. Prior auditing literature reports that auditors charge a price premium from high risk clients. Prior earnings quality literature reports that poor economic performance results in poor earnings quality. By combining these streams of literature, this study investigates the auditing and earnings quality implications of political instability. Essay 1 of this study investigates the political determinants of audit fees in the context of Pakistan. The results indicate that civil connected companies pay significantly higher audit fees while military connected companies pay significantly lower audit fees relative to non-connected companies. The findings for political instability indicate that political instability has a positive association with audit fees. Nonetheless, this positive association is weaker for military connected companies relative to non-connected companies. Results for the interaction effect for civil connected companies are not significant. Essay 2 of this study investigates the political determinants of earnings quality in Pakistan. Earnings quality is measured by the level of absolute magnitude of discretionary accruals and earnings persistence. The results indicate that civil connected companies report a significantly higher level of absolute magnitude of discretionary accruals indicating poor earnings quality, while the earnings persistence results are not significant for civil connected companies. The discretionary accruals results for military connected companies are not significant. Nevertheless, military connected companies have more persistent earnings indicating better earnings quality. Essay 2 also examines the impact of political instability on earnings quality. Results indicate a significant negative association between political instability and the level of absolute magnitude of discretionary accruals; and between political instability and earnings persistence. The interaction effects show that the negative association between political instability and the level of absolute magnitude of discretionary accruals is stronger for civil connected companies and not significant for military connected companies. The negative association between political instability and earnings persistence is weaker for military connected companies and not significant for civil connected companies. This study adds to the literature that aims to provide a deeper understanding of the relation between political connections, political institutions, and its auditing and earnings quality outcomes. The study adds to the existing political connections literature by identifying the military as a source of significant power. It also adds to the auditing and financial reporting literature by identifying political instability as a variable which significantly affects the audit fees and earnings quality.
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    Speaking up and being heard : an analysis of young people's participation in civic activities : a thesis presented in partial fulfilment of the requirements for the degree of Master in Social Work at Massey University, Palmerston North, New Zealand
    (Massey University, 2015) Henley, Zoey
    This research highlights the need for young people to be active participants in civic activities. This means going beyond engaging them in the process, by ensuring they have opportunities to help design, develop and review their participation and consider how to act upon the information they identify; generating positive outcomes for young people generally. When youth participation is successful it contributes to shaping young people as the next generation’s leaders. To facilitate successful youth participation adults need to understand what participation processes young people find helpful and unhelpful. This research explored young people’s views on the facilitators and barriers for youth participation in civic activities. To support an understanding of these processes this research explored the views of young people currently involved with a Youth Council, through seven semi-structured qualitative interviews. This data was thematically analysed using a deductive approach, and was underpinned by relevant literature and the Culture of Participation framework (Kirby, Lanyon, Cronin, & Sinclair, 2003). This research produced several key findings. Youth councils provide young people with a forum to learn and develop skills as the next generation’s leaders by teaching them new skills and offering them a safe place to explore and participate in civic activities. Young people need and appreciate adults who support their participation through behind-the-scenes support and encouragement, which does not take over or lead processes. Young people must be able to contribute to the design and development of youth centric participation processes through regular reviews and evaluations. And finally adults must view youth positively as their perception of adolescence affects the success of young people’s participation.
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    Maori activism across borders, 1950-1980s : a thesis submitted in partial fulfilment of the requirements for the degree of Doctor of Philosophy at Massey University (Manawatu Campus), New Zealand
    (Massey University, 2015) Johnson, Linda
    This thesis examines Maori activism across borders and is structured around two key themes, the creation, use and control of space, and New Zealand’s race relations reputation. It is set against a backdrop of global currents, events and ideologies which entered New Zealand and stimulated Maori activism. The overarching argument in this thesis is that Maori activists progressively created a space for themselves internationally in a variety of venues, to have their claims, grievances and realities accepted. To do so they had to subvert and challenge the discourse which confined and defined them as a privileged indigenous people who lived in a position of equality with Pakeha in a country reputed to have the best race relations in the world. I argue that the ‘privilege’ discourse shaped the form which their activism took and how, in the process of successfully contesting that discourse, they created a space for Maori in an emerging indigenous people’s activist network. A key purpose of this thesis is to demonstrate the importance of New Zealand’s good race relations reputation as a determinant of both government policy and Maori actions. I demonstrate the lengths that the New Zealand government went to in order to maintain an image of ‘one people’. Threading through the thesis are the actions of the government in restricting or mediating space in order to stifle any oppositional discourse and present a positive image of race relations. Alongside this is the agency and actions of Maori and the ways in which they subverted the dominant race relations discourse and created space for an oppositional narrative, first in New Zealand and then internationally. While Maori agency played a major role in this process, they were also the beneficiaries of a global shift which prioritised the elimination of racial discrimination, the liberation of colonised peoples, and saw a growing recognition of the oppression of indigenous people and the abrogation of their rights. All played a role in opening up a space for Maori activists to use and take their claims into international forums including the United Nations, the World Council of Indigenous Peoples, and the Russell Tribunal. This thesis demonstrates the centrality of racial discrimination in opening up New Zealand to international scrutiny, and national discussion. Through an examination of three key events in the late 1950s and early 1960s I argue that this raised a political awareness and politicised many Maori which was reflected in a less accommodating attitude, growing unrest and discontent. Race relations shifted to a central position in New Zealand. Discontent was exacerbated by proposals designed to accelerate integration and bring to a satisfactory close the 'one people' imperative. It played a part in the emergence of radical Maori activism. Internationally, the opposite occurred and for much of the 1960s New Zealand’s reputation was enhanced. From this contact was made with indigenous people who came into New Zealand to study race relations and New Zealand’s integration policies. With this came identification between Maori and indigenous peoples, understandings of similar historical and contemporary experiences, and a similar world-view. At the same time Maori began moving out across borders and making contact with indigenous people and communities. It was a soft activism and it can be seen as the first stage of awareness of each other and their place within an indigenous world. Finally, this thesis demonstrates the movement of radical Maori activists into a variety of international spaces and venues. It sheds light on how they used international spaces, the geographic extent of their activism, and the shift from mainly single issue events into an emerging independence movement across the Pacific. Thus they became part of a large network of indigenous activists who came together at conferences, and provide support and solidarity at protest actions. Moderate Maori activists moved along a different route which took them into the first transnational pan-indigenous organisation with a global perspective, the World Council of Indigenous Peoples. Collectively, as a result of these actions, Maori activists created a variety of spaces in New Zealand and internationally where they gained recognition for their grievances. Moreover they played a significant role in creating and sustaining organisations which advocated on behalf of indigenous peoples.
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    The new Christian conservatism : an analysis of a social movement, 1970-1997 : a thesis presented in fulfilment of the requirements for the degree of Master of Philosophy in Sociology at Massey University
    (Massey University, 1997) Saxton, Peter John Waring
    This thesis analyses the social and political mobilisation of groups of conservative Christians in the period 1970 to 1997, via a theory of cultural articulation. Previous ways of accounting for moments of conservative Christian activism, such as the secularisation thesis, are critiqued for their inability to account for the periodic resurgence of such activism in New Zealand, particularly in the period since 1988. Alternatively, cultural articulation theory forces an analysis of the multi-dimensional determinants of mobilisation, by taking advantage of the subjective, structural, dramaturgical, and institutional approaches to cultural analysis, and by placing a focus on how a social movement interacts with changes in the social/cultural/political environment. By tracing several key moments in New Zealand's recent history, the mobilisation of conservative Christians is therefore explained in terms of the opportunities these moments gave for the formation, development, and continuing articulation of a conservative Christian ideology. This "exploration" revealed a critical moment around 1988 when, although many factors were predictive of a busy period of activism, the mobilising ideology of Christian Conservatism became hindered by a lingering tradition of church-state separation. The solution for conservative Christians, in the form of a New Christian Conservatism, was the result of an ideological innovation which re-mobilised the movement, by claiming that all spaces were political and hence contestable. This re-narration of their core ideology was matched with a greater flexibility, and professionalism, in the movement's articulations with its environment in the 1990s. Two examples of the New Christian Conservatism are highlighted as evidence of the movement's potential with this new ideology, as the identity of conservative Christians was re-moulded to suit the political culture in the 1990s. The New Christian Conservatism is finally posited as a movement that challenges the prevailing legitimacy of political pluralism in New Zealand, and which has the potential, if properly organised, to gain entry into the formal political sphere under MMP. However, this can only be achieved if the movement overcomes the fundamental problems of accommodation and compromise, issues which have prevented the movement from expanding in influence to date.
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    E-whanaungatanga : the role of social media in Māori political engagement : a thesis presented in partial fulfilment of the requirements for the degree of Master of Philosophy in Development Studies at Te Kunenga ki Pūrehuroa, Massey University, Palmerston North, New Zealand
    (Massey University, 2013) Waitoa, Joanne Helen
    Social media are used increasingly worldwide to connect people and points of view. This thesis explores the role social media can play in enhancing Maori development via political engagement. It investigates the efficacy of using social media to increase Maori political awareness and participation using the Mana Party Facebook pages as a case study. It also examines the opportunities and implications of social media for indigenous development in general. Themes in the literature on social media and indigenous development include: identity politics; language revitalisation and cultural preservation; activism; knowledge management; networking and collaboration; and business and marketing. This qualitative study was informed by Kaupapa Maori and empowerment theories. It involves interviews with the Mana Party president, Mana Party Facebook page moderators, and users of the Mana Party Facebook pages. The interviews explored the objectives and outcomes of using social media to raise political awareness of Maori, finding that Mana Party objectives were met to varying degrees. It also found that social media has both positive and negative implications for indigenous development. Social media aligns with tikanga Maori through Tino Rangatiratanga and whanaungatanga. However, it can conflict with tikanga Maori due to lack of respect, cultural misappropriation, sharing sacred information, subversion of traditional hierarchy and absence of a ‘seen face’. There are thus tensions in the use of social media for political engagement among indigenous peoples. Finally, the thesis offers a framework of how to use social media with indigenous groups that emphasises the positive and mitigates the negative aspects of the platform.
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    Too many hats : exploring the possibilities for women's political empowerment within Cook Islands civil society : a thesis presented in partial fulfilment of the requirements for the degree of Master of Philosophy in International Development at Massey University, Manawatu, New Zealand
    (Massey University, 2013) Stenson, Barbara-Anne
    This thesis explores the possibilities for women’s political empowerment beyond numbers represented in national parliament. Women’s perspectives and contributions to policy decision making are seen as a key factor in a nation’s development and women’s representation in national parliament is a key indicator of the Millennium Development Goal Three on Gender Equality and Women’s Empowerment. However, this thesis argues that there are other forms of political empowerment beyond numbers in national parliament that should be considered Pacific women have the lowest representation in national parliaments globally. The international community is encouraging Pacific countries to increase the number of women in national parliaments by introducing gender quotas. However, there has been little investigation into women’s political voices in Pacific societies outside of national parliament. This thesis thus investigates how women’s political empowerment is understood within Cook Islands civil society and explores the various ways in which women in Cook Islands civil society exercise political power. A gender and development empowerment approach formed the theoretical basis for this research. Moser’s (1989) ideas on the triple role of women and practical and strategic gender needs were used as tools of analysis. Fieldwork took place over four weeks in the Cook Islands in mid-2012. Development research principles, as well as Pacific methodologies, guided the fieldwork which utilised a mixed methods approach. The findings of this study show that despite women being underrepresented in national parliament women do exercise political power within Cook Islands civil society. Women often use strategies to exercise political power indirectly, through context-specific and culturally acceptable ways so as to maintain important social and political relationships. Women work collaboratively with government and many contribute to policy development and implementation. Despite this however, women are being stretched in their roles within the community by neoliberal donor and government policies and programmes. The main implications of the findings, and the conclusion of the thesis, is that development policy and practice must take into consideration women’s multiple roles and recognise that advocacy work within civil society is an important strategic gender need. Civil society advocacy should be supported by donor programmes to encourage women to be politically involved in their country’s development.