效率与公平视角下企业及政府的资源配置决策

考虑企业及政府资源配置中效率与公平目标的不同内涵,采用"客户嫉妒"和"个体变权"刻画不同主体的决策行为,分别引入公平参数建立多目标决策模型,并提出基于客户和决策者偏好的公平参数选择方法,实现效率与公平的权衡。将模型转化为变分不等式,设计修正投影算法求解。通过算例进一步分析了不同主体的决策行为差异、公平参数的选择及影响。研究表明：企业与政府的效率最优决策相近,但公平最优决策差异明显;客户公平偏好越高,企业资源配置的分化特征反而越显著;政府决策者公平偏好越高,所有个体间资源配置趋于均等。     

上市公司财务治理与政府管制——基于"结构-行为-绩效"框架的分析

上市公司财务治理的政府管制作用受到发达国家较大关注，国内关于公司财务治理层面的政府管制机制研究较少。本文基于“结构－行为－绩效”框架。分析上市公司财务治理管制的“结构－行为－绩效”内涵与互动机制。     

财务保守行为:基于中国上市公司的实证研究

财务保守行为是指企业在较长的一段时间内持续地采用低财务杠杆的财务政策的一种行为。与传统的资本结构管理观点相比,保守的财务政策更加注重获得财务灵活性以防范风险和捕捉未来的投资机会,是一种崭新的资本结构管理的观点。本文运用LOGIT非线性回归模型,基于中国上市公司的经验数据,分别从产业组织、资本市场和治理结构3个方面考察了影响财务保守行为的主要因素并进行了理论分析。实证结果表明:由产品市场竞争决定的企业本身的内源融资能力是财务保守行为产生的最为重要的原因,而这种能力主要取决于企业所处的市场环境、政府管制和产业组织情况;资本市场的估价状况对于财务保守行为有重大的影响,我国股价高估的资本市场环境,以及二元割裂、一股独大的治理结构使得非流通股股东偏好从增发和配股中获取利益,客观上造成了上市公司的股权融资偏好行为,而这种偏好表现在资本结构上,就是财务保守行为,可以称之为企业融资战略对于财务保守行为的影响;最后,我们没有发现足够的证据支持财务保守行为和公司竞争战略之间有足够的联系,说明我国的上市公司在资本结构管理方面较少地考虑到资本结构和产品市场竞争之间的互动与协调,企业战略管理的水平尚待进一步地提高。     

连续垄断的上下游企业在价格管制条件下的产品定价研究

本文在连续垄断的上下游企业所带来的"双重加价"问题的基础上,针对一体化过程中存在较大的交易成本而不适宜一体化的情形,分析了在价格上限管制和投资报酬率管制的条件下,上下游企业的产品定价行为。作者认为,在价格上限管制的条件下,产品的价格将大大降低;在投资报酬率管制下,产品价格将有可能比没有政府管制时高,因此,应辅之以产量管制。     

共享式治理：地方治理现代化的实践逻辑

地方治理现代化是当前国家治理研究领域重要的议题之一,其治理效果直接关系到国家治理现代化的成败。当前,我国地方政府在处理政府与社会关系时出现"错位""越位"等问题,需要引入地方治理现代化概念重新理顺地方治理过程中的复杂观念及利益诉求。地方治理现代化既是规范行政行为和社会行为的一系列制度和法律,同时也是政府治理和社会治理二者之间相互制约、相互促进的有机统一体,其核心在于制度分权和多元共治的内在本质。因此,地方治理现代化应当坚持观念转向,从统治走向治理;坚持效度转向,从全能管控走向有限治理;坚持功能转向,从管制走向服务。     

转轨时期政府规制过程的制度缺陷及其治理

(一 )政府规制过程的一般性制度安排美国经济学家丹尼尔·史普博中对政府规制过程下了这样的定义:“管制的过程是由被管制市场中的消费者和企业 ,消费者偏好和企业技术 ,可利用的战略以及规则组合来界定的一种博奕”①。实现规范的政府规制过程需要一系列制度安排 ,就其内部关系看 ,主要有两方面含义:1 .必须确立相互独立又相互制约的行为主体。被规制产业是政府规制的直接制约对象。在市场经济条件下 ,企业是独立的商品生产者 ,政府一般不干预企业经营。然而 ,当其处于自然垄断等行业、或其生产经营行为具有负的外部性而可能侵犯消费者及公…     

政府管制与企业垂直整合——刘永行“炼铝”的案例分析

本文分析刘永行“炼铝”的案例,考察了政府管制与企业垂直整合间的关系。研究发现,由于政府官员有着不同于社会大众的私人利益及政府决策的信息劣势,政府管制导致了资源配置的失效,由此提高了市场交易的成本和不确定性。为了降低成本和不确定性,企业具有垂直整合的动机,通过内部的组织生产代替外部的市场交易。本文的研究结果表明,政府管制改变了市场交易成本和企业内部组织成本的对比关系,从而影响了企业的经营边界。而且,管制也不是绝对的,企业通过自身经营行为的调整可以绕过政府管制。     

试析服务型政府建设

目前我国正处于社会转型的关键时期,这既是经济社会发展的黄金时期,也是矛盾的凸显期。而政府现行管制型的治理理念和模式无法适应目前的社会转型和经济转型,在管制型的治理理念和模式下,政府在行政理念、政府职能、政府体制、政府运行体制、行为方式等方面都存在诸多不适,这些不适现象都严重阻碍了社会经济的顺利发展和结构转型。因此,必须进行政府治理理念的更新和治理模式的再造,建设服务型政府。     

培育“新行政精神”

未来中国改革,重在建立"服务政府、责任政府、法治政府、廉洁政府和创新政府"。这五大政府理念是"新行政精神"的基础架构。"新行政精神"具体可概括为十大理念。一是法治精神。要依据法律治理行政机关做出的行为而非管制公民的活动。二是理性精神。要在不同价值之间找到各自的分量,     

利益激励视角下地方政府行为偏好与环境规制效应分析

行为偏好直接反映了地方政府的利益诉求,对环境规制效应存在着显著影响。地方政府行为偏好的产生以信息不对称和目标函数差异为重要条件,同时受到晋升激励机制的导向影响。由于地方政府行为偏好与环境规制效应显著正相关,因而应从中央政府激励与监督地方政府、地方政府激励与监督环境规制部门双重路径增强环境规制效果。在这个过程中,需要中央政府和地方政府整合民众与企业诉求,制定科学合理的环境规制利益激励与监督引导机制,促进生态与经济和谐发展。     

Does Ownership Form Matter for Corporate Social Responsibility? A Longitudinal Comparison of Environmental Performance between Public,Private, and Joint‐venture Firms

This study examines whether a firm's ownership form has any influence on its social performance. Conventional wisdom suggests that public (publicly traded) corporations are more susceptible to corruption and socially irresponsible behavior than privately owned corporations because of the intense short‐term profit maximization pressure from shareholders and the lack of sufficient monitoring mechanisms. This study introduces an alternate perspective in thinking about the relationship between ownership form and corporate social responsibility. This study reasons that public corporations are more likely to become socially responsible because of their greater exposure to external influence and greater dependence on external actors with diverse interests. Using a panel data on the pollution management practices of 118 industrial facilities over a 13‐year period, this study shows that public corporations were indeed subject to greater external pressure to reduce pollution, and the pressure led to consistently stronger environmental performance.     

When Boards Matter: The Case of Corporate Social Irresponsibility

While academic research has made remarkable progress in understanding corporate social responsibility (CSR), we have scant understanding of corporate social irresponsibility (CSiR). This paper adopts a stakeholder‐agency perspective towards CSiR to ask two related questions: (1) What board‐level structures can monitor management to reduce CSiR? and (2) What are the conditions that render board monitoring more effective? Employing a unique objective measure of CSiR and a sophisticated system generalized method of moments with dynamic panel model on a sample of publicly listed firms in the USA between 2002 and 2015, this paper demonstrates how firms with a specific board‐level governance bundle (i.e. a large, more independent board, with a board CSR committee, a higher proportion of women within boards with frequent director activity) are better equipped to reduce irresponsible behaviours, both in terms of number of irresponsible incidents as well as in terms of their economic costs to the firm. Moreover, the effectiveness of this governance bundle sustains under conditions of high institutional ownership and high board remuneration. This paper has implications for CSR and corporate governance literatures, as well as for managers and policymakers.     

CSR投入下产品质量决策与专利授权合同设计

良好的专利授权有助于激发企业持续创新的动力，实现专利技术的商业化和产业化，而产品质量则是决定企业能否取得市场竞争优势的关键。本文针对由专利持有企业和品牌企业组成的系统，考虑市场需求信息不对称以及品牌企业承担社会责任（Corporate social responsibility， CSR），研究品牌企业产品质量决策和专利授权合同设计问题，进而分析CSR投入对各个企业利润、消费者剩余以及社会福利的影响。研究结果表明：不同市场条件下，专利持有企业会策略性地设计专利授权合同形式，即选择仅包含"一次性固定授权费"或者"一次性固定授权费+版税提成"的专利授权合同；品牌企业CSR投入并不会影响专利授权合同的形式，但会提高一次性固定授权费；CSR投入会促使品牌企业提高产品质量，但并不一定会导致产品销售价格的提高；CSR投入虽然会降低品牌企业利润，但能有效提升专利持有企业利润、消费者剩余和社会福利。     

Financial Returns of Corporate Social Responsibility,and the Moral Freedom and Responsibility of Business Leaders

A number of theorists have proposed mechanisms suggesting that corporate social responsibility produces better financial results. Others subscribe to the theory that, realistically, less ethical means are necessary. This article contains an analysis of these perspectives drawing on observations from evolutionary game theory and nature. Based on these analyses, it is concluded that the financial returns of corporate social responsibility and irresponsibility (CSR and CSI) are equal on average. The explanation is that CSR and CSI aredriven to a state of equilibrium, because if one or the other were to offer higher profits, it would attract more players who would compete for the best opportunities until there was no difference in average profit. Existing empirical research generally shows a positive correlation between CSR as measured and corporate financial performance. It is argued that what is actually causing that finding is probably not CSR but management skill. More skillful managers, whether actually responsible or irresponsible, are able to obtain both higher profits and greater credit in imperfect measures of CSR. Next it is shown that this theory of equal returns implies greater moral freedom and therefore responsibility for business leaders. It is concluded that this insight can intensify the interest of decent business leaders in vigorously championing CSR.     

考虑政府补贴与企业社会责任的两级供应链优化

企业社会责任问题日益受到管理者和研究者关注。研究随机需求下由一个供应商与一个零售商组成的分散式供应链，探讨政府补贴对供应链最优生产与社会责任投入决策的影响，并比较分析了分别由供应商与零售商主导下供应链的运作效率。结果表明，在集中式供应链中价格弹性对采购数量和企业社会责任总投入量的影响更为显著；而在分散式供应链中加入政府补贴因素，会使总收益呈现出倒U形的发展趋势，且零售商主导的分散式供应链会因政府补贴的减少表现出迅速下降的趋势；此外增加政府补贴，会使得供应商主导的分散式供应链中的供应商降低其企业社会责任投入，但对于零售商主导的分散式供应链的影响却不大。     

晋升激励、地域偏爱与企业环境表现:来自A股上市公司的经验证据

晋升激励和地域偏爱是影响地方政府官员决策行为的关键因素。本文以2009-2015年沪深A股上市企业为样本，探讨官员更替对企业环境表现的影响，并分别从晋升激励和地域偏爱两个角度切入分析这种影响背后的机制。研究发现，地方政府换届后，若继任官员来自本地调任，则当地企业的环境表现将得到改善；而若继任官员来自异地调任，则当地企业的环境表现将发生恶化。这一研究结论在解决可能的内生性问题、改变度量指标、考虑滞后反应、进行安慰剂测试、调整样本及控制其他可能的遗漏变量等一系列稳健性测试后仍然成立。进一步研究发现，异地调任的继任官员出于晋升激励的动机而倾向于降低地方环境治理水平；而本地调任官员出于对曾经任职地区的地域偏爱而更重视当地环境治理。本文创新性地从地方官员的晋升激励和地域偏爱视角探讨企业的环境社会责任，为理解地方官员的决策模式和企业环境责任行为提供了新思路。     

Philosophical speculations on systems design

Belief in the value of the scientific method as a means of implementing improvement in social systems (here called “systems design”—SD) raises important philosophical questions concerning, inter alia, the meaning of “scientific method”, of “improvement”, and of social reality. One underlying problem is that of the “self reflecting paradox”; e.g. the content and validity of the scientific method can only be discovered by the application of the scientific method. Similarly, SD has its own “social reality” through which it perceives that of its client. “Improvement” is bound up with ethics but ethics does not admit the limitation of obligation to one sub-system, therefore improvement requires the recognition of sub-system linkages. Paradoxically, again, the “improver” is himself part of the total system and bears its impress. Implementation (of improvement) meets the paradox that SD on SD is needed to judge the worth of the SD proposal. The pragmatic escape from the paradox identifies SD with a heuristic role in social progress but presupposes the possibility of progress. “Implementation” secures the possibility of such progress. The second major problem is that SD requires a social reality in which individuals have visible goals; but the “inner world” of individual goals is unknown and cannot be tracked from observable responses. In any case, Kant's moral precept requires that individuals be valued as ends rather than means. Much of SD uses them as means. Though SD is and must be practised, such philosophical speculation raises SD's self knowledge and points the neat paradox of its technical precision won at the price of its fundamental woolliness.     

The Mirror Effect: Corporate Social Responsibility,Corporate Social Irresponsibility and Firm Performance in Coordinated Market Economies and Liberal Market Economies

We investigate the classic management debate of agency versus institutional pressures through the application of the varieties of capitalism literature. In particular, we examine corporate social responsibility (CSR), corporate social irresponsibility (CSiR) and their relationships with firm performance in two types of capitalist systems: coordinated market economies (CMEs) and liberal market economies (LMEs). We note that while the CSR literature has tended to develop a balanced view on the influence of agency and institutional pressures, the CSiR literature has tended to emphasize the influence of agency. The latter appears to be a result of the fundamental attribution bias, where irresponsible corporate behaviours are attributed to individual managers or organizations, rather than the institutional environment. Our results, which include five years of data across 16 countries, show significantly greater CSR and significantly lower CSiR in CMEs compared with LMEs. Further, we find a positive relationship between CSR and firm performance in CMEs but not LMEs, and a negative relationship between CSiR and firm performance in LMEs but not CMEs. Overall, our results demonstrate the influence of the institutional environment, suggesting that corporate behaviours mirror the external environment.     

Social Identification and Corporate Irresponsibility: A Model of Stakeholder Punitive Intentions

Scholars hypothesize that retaliations against corporate social irresponsibility (CSI) are more likely when observers share the social identity of the victims. We present a model that explains in‐group bias against irresponsibility and identify collective narcissism as a moderator of this effect. Experiment 1 demonstrates that the effect of identity on retaliations is mediated by the perceived similarity of the victims which reinforces feelings of sympathy towards the victims and anger towards the corporation. These emotions drive stakeholders’ attitudes and retaliations. Our study shows that appraisals of the victims of CSI are an important antecedent of stakeholders’ emotions and behavioural intentions. Our evidence also demonstrates that sympathy, an emotion neglected by past research in this area, has a unique effect on individuals’ reactions. Experiment 2 demonstrates that social identity biases in individual punitive intentions are moderated by individuals’ level of collective narcissism. Collective narcissists see out‐group victims as very dissimilar from the self, whereas individuals with low levels of collective narcissism do not differentiate between victims of CSI on the basis of their identity. We extend knowledge on stakeholders’ reactions to CSI and offer insights to organizations promoting campaigns against irresponsible behaviour or managing the fallout from cases of corporate irresponsibility.     

社会责任消费行为量表研究

在创建和谐社会的进程中,消费者的社会责任日益受到政府和公众的重视.在文献回顾的基础上,界定社会责任消费行为的概念,结合深入访谈的结果初步形成这一概念的构成维度,通过大规模问卷调查建立中国消费者SRCB-China量表.研究发现,社会责任消费行为由9个维度构成,即保护环境、节约能源、保护动物、监督企业和维权、支持企业的负责任行为、抵制企业的反责任行为、支持中小企业、适度消费、支持国货.数据显示,SRCB-China量表具有较好的内部一致性信度、内容效度、收敛效度、区别效度和校标效度.