Sovereign Wealth Funds in China: The Perspective of National Energy Strategy

You, Miao; Han, Liyan

doi:10.1016/j.egypro.2011.03.208

Cited by 8 publications

(2 citation statements)

References 7 publications

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“…In addition to the aforementioned themes, several studies highlight other positive implications of SWFs' investment activities for home countries. For instance, Miao and Liyan (2011) design a theoretical model to analyse the investment strategies of the Chinese SWFs and illustrate how SWFs can help in reducing the overall risk in the economy by investing in industries that have a strong negative correlation with the domestic economy. Similarly, Haberly (2011) explores SWFs' potential to pursue "state-led global alliance capitalism" (Haberly, 2011, p. 23).…”

Section: Impact Of Sovereign Wealth Funds On Home Countriesmentioning

confidence: 99%

The impact and implications of SWFs: a systematic review of literature

Garg

Shukla

2021

QRFM

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Purpose This paper aims to systematically review all available evidence on the implications of sovereign wealth funds (SWFs) for various stakeholders (recipients of sovereign investment, home countries, which incorporate SWFs and the world at large) and offer future research directions. Design/methodology/approach A systematic literature review (SLR) technique is used to review 102 handpicked articles for the period 2005‐2019. Findings This review reveals that the literature on the impact of SWFs emerged only during the financial crisis of 2008–2011 and much of it is qualitative in nature. The literature is lopsidedly focused on the impact of SWFs on target firms and there has been a limited empirical investigation of the impact on other stakeholders. There is a lack of consensus in several areas, which calls for additional research. Few areas, which have not been addressed in the literature and can be taken up by future researchers include the impact of SWFs on macroeconomic fundamentals and stock markets of recipient countries, especially emerging economies; implications of SWFs for alternative asset classes; impact on the welfare of citizens and internationalization strategies of home countries; impact on initial public offerings and unlisted corporations; and impact on innovativeness, efficiency and corporate governance practices of target firms. Originality/value To the best of the authors’ knowledge, this is the first paper to use the SLR technique to review the literature on SWFs. It considers the impact of SWFs on all stakeholders and covers both qualitative and quantitative literature published over a long period of 2005‐2019. It also systematizes all available evidence on this theme and identifies important research gaps, which may be helpful for academicians, practitioners and policymakers.

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Section: Impact Of Sovereign Wealth Funds On Home Countriesmentioning

confidence: 99%

The impact and implications of SWFs: a systematic review of literature

Garg

Shukla

2021

QRFM

View full text Add to dashboard Cite

show abstract

“…However, this enthusiasm has masked some nuances: the Norwegian SWF has, for example, always tended to shun private equity (Bernstein et al, 2013:225). Political controversies have resulted in considerable pressure on China's SWF to make greater use of third party fund managers; the response of the fund has been partial (Sun et al, 2014:660), but may be prompted by a desire to diversify risk (Miao & Liyan, 2011).…”

Section: Examples Of Swfsmentioning

confidence: 99%

New investor categories, agility and HRM: The case of Sovereign Wealth Funds

Cumming

Filatotchev

Reinecke

et al. 2020

Human Resource Management Review

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This article reviews the existing literature on SWFs and the firm, focusing particular attention on the implications of the rise of SWFs strategic agility and HRM. This paper outlines three main channels through which sovereign wealth fund (SWF) investment has implications for employees. First, SWFs influence macroeconomic environments, and hence affect labor conditions. Second, institutional conditions in different countries shape the behavior of SWFs around the world, which in turn has implications for HR strategy and practice. Fourth, SWFs can have a direct effect on the corporate governance and hence HR strategies and employees of organizations in which they invest. We review and discuss these three channels and outline avenues for future research.

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Bibliography

2012

The New Economics of Sovereign Wealth Funds

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Sovereign Wealth Funds in China: The Perspective of National Energy Strategy

Cited by 8 publications

References 7 publications

The impact and implications of SWFs: a systematic review of literature

The impact and implications of SWFs: a systematic review of literature

New investor categories, agility and HRM: The case of Sovereign Wealth Funds

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