冗余资源、企业网络位置与多元化战略

以875家上市公司的连锁董事网络为研究样本,讨论了冗余资源、企业网络位置和多元化战略的关系。将冗余资源区分为可用冗余、可恢复冗余和潜在冗余3类;将网络位置分为网络的中心位置和网络的中介位置2个维度,并采用中心度指标和结构洞指标对企业的网络位置进行测量。研究结果表明,不同类型的冗余资源均与企业多元化程度显著正相关,而网络位置所发挥的调节作用却因冗余资源的类型而有所区别。     

Strategy,core competencies and human resource development

HRD's traditional approach to competency focuses on superior individual performance. The concept of a core competency in the strategic literature, as reviewed here, considers it as an organizational capability that provides sustained competitive advantage. That model is examined and implications for HRD practice noted.     

企业的进入与研究开发策略

现有文献大都只考虑企业进入某项目的等待投资的期权. 而实际上,企业进入某项目后, 还具有研究与开发的实物期权. 通过建立新的模型,本文在此考虑了这种研究与开发的实物期 权,分析得出了企业进入某项目的最优时机及进入后进行研究与开发的最优时机,同时也得到 了等待投资和研究与开发这两种实物期权的价值. 进一步得到了企业的最优进入策略与企业 所具有的研究开发期权无关,但该项目的等待投资的期权价值与研究开发期权正相关.     

Technology Learning, Technology Strategy and Competitive Pressures

This paper develops some hypotheses concerning technological learning in firms. The hypotheses are examined using a detailed study of Europe's leading dedicated biotechnology firm, Celltech Ltd. It relates how the competitive pressures facing the company, and similar US companies, have changed over the past decade, and how Celltech's technology strategy has placed considerable emphasis on technological learning in order to maintain its competitive position compared with large, multinational pharmaceutical companies. Some of the features of technological learning are examined, including: its purposive character; its differential and complex nature; its internal and external components; the complementary nature of the company's technology and human resource development strategy; and the importance of organizational considerations.     

股权比例、大股东"掏空"策略与全流通

本文从股票价值的现金股利模型和Ohlson模型出发,得出非流通股价值基本上由现金股利或非法侵占所决定的结论.非流通股股东实现其股权价值最大化的途径有两个派发现金股利和侵占公司资源.单方和多方博弈的结果表明,控股股东持有的股份比例越高,侵占公司资源的可能性越低;在大股东数量少、第一大股东持股比例较低的情况下,大股东可能会合谋侵占公司资源,导致上市公司资源被侵占的程度增大;随着大股东数量的增多,上市公司资源被侵占的可能性和程度都会降低;在股权极其分散(全流通)的条件下,大股东仍有极大的动机侵占上市公司资源,经验结果支持以上的推论.     

多元化经营战略、核心竞争力框架与股权结构

我国上市公司有不少已落入了多元化经营战略"陷阱",表现为公司主营业务利润比重较低,导致公司价值的减少.只有通过收购兼并、管理权接管来实现上市公司降低多元化经营程度,才能提升公司的核心竞争力.但是,我国上市公司的股权结构不利于这种转变的实现.本文利用近几年上市公司的统计资料对这一问题进行了演绎推理与定量分析,得出了以下结论只有通过多种途径实现股权结构由国家绝对控股模式向法人相对控股模式转变,才能促进我国上市公司摆脱多元化经营"陷阱",提升公司的核心竞争力.     

发展战略、休克疗法与经济转型

本文构筑了一个两部门的动态一般均衡模型,对前苏联和东欧国家实施"休克疗法"转型后产量大幅下降以及产业结构深度重组的现象给出了一个全新的理论解释。在转型前,政府采用扭曲性政策扶持重工业部门,新上台的政府试图采用"休克疗法"尽快取消这些扭曲性政策。结果是,失去政策扶持的重工业部门回报率下降,可流动的生产要素从该部门流出,导致其他非流动性的生产要素出现闲置和废弃,最终可能导致总产出下降。我们给出了"休克疗法"以后经济转型的数值模拟例子,结果表明,一个国家在转型之前的经济扭曲程度越高,其产出下降的幅度就越大;而且,在相同的扭曲程度下,相对落后的国家在转型后的经济恢复速度会更快;另外,我们的模型也能预测转型后产业结构的大幅度调整。     

Risk Preferences,Probability Weighting,and Strategy Tradeoffs in Wildfire Management

Wildfires present a complex applied risk management environment, but relatively little attention has been paid to behavioral and cognitive responses to risk among public agency wildfire managers. This study investigates responses to risk, including probability weighting and risk aversion, in a wildfire management context using a survey‐based experiment administered to federal wildfire managers. Respondents were presented with a multiattribute lottery‐choice experiment where each lottery is defined by three outcome attributes: expenditures for fire suppression, damage to private property, and exposure of firefighters to the risk of aviation‐related fatalities. Respondents choose one of two strategies, each of which includes “good” (low cost/low damage) and “bad” (high cost/high damage) outcomes that occur with varying probabilities. The choice task also incorporates an information framing experiment to test whether information about fatality risk to firefighters alters managers' responses to risk. Results suggest that managers exhibit risk aversion and nonlinear probability weighting, which can result in choices that do not minimize expected expenditures, property damage, or firefighter exposure. Information framing tends to result in choices that reduce the risk of aviation fatalities, but exacerbates nonlinear probability weighting.     

Strategy,cross-subsidization and the “business portfolio”

Business portfolio analysis is becoming an increasingly important and indeed critical element in strategy analysis, and the problem of cross subsidization will almost certainly become an issue of some importance for managements under the influence of the new Price Commission. This article analyzes the problem of developing corporate strategy on the basis of the individual contributions which inter-dependent groups of services and products make to the company's profitability, stability and future potential.     

我国民营企业政治关联、多元化战略与公司绩效

本文以我国2002-2005年在沪深证券交易所上市的民营企业为样本,综合考察了政治关联与多元化对公司绩效的共同影响,探讨企业政治关联是否具有多元化效应,这种多元化效应是否真正促进了企业绩效的实现。本文研究结果发现:第一,无政治关联企业的多元化与公司业绩关系呈倒U型,具有政治关联的企业多元化与公司业绩关系呈逆L型;第二,具有政治关联的企业更可能实施多元化,尤其是非相关多元化;第三,有政治关联的民营企业在进行国际化发展时,更有可能通过非相关多元化战略进行扩张,但是对于无政治关联的企业,则更可能通过专业化战略拓展海外市场。进一步,本文发现,国际化与相关多元化在一定程度上存在着替代关系,而与非相关多元化存在一定程度的互补关系;第四,具有政治关联企业的多元化(包括相关多元化与非相关多元化)比无政治关联企业更可能促进企业短期经营状况的改善,即会计绩效的提高;但具有政治关联企业的非相关多元化将对未来的绩效表现产生负面影响,即损害公司的市场价值。     

政府法规、制造战略选择与企业绩效的关系研究

基于环境-战略-绩效的研究范式,构建了政府法规、制造战略及企业绩效间关系的理论模型.以江苏省135家中小企业为调查对象,利用结构方程模型进行实证研究.研究结果表明:政府法规对成本、质量、创新均有显著的正向影响;成本、质量与创新对财务绩效有显著的正向影响;质量、创新对非财务绩效有显著的正向影响,而成本对非财务绩效没有显著的影响.据此提出了促进中小企业发展的政策建议与其制造战略选择的策略.     

利益相关者压力、企业环境伦理与前瞻型环境战略

近年来环境污染问题严重,利益相关者对企业的环境行为提出了更高的要求。已有研究基于利益相关者理论分析了企业环境战略行为,但忽视了企业环境行为自我规范的作用以及管理者自身的道德动机、环境领导力等因素的影响。 基于利益相关者理论、自然资源基础观理论和领导力理论,探讨利益相关者压力对企业环境伦理和前瞻型环境战略的影响,建立一个从“被动”环境行为自我规范到“主动”实施环境战略的中介和调节模型。通过对环保压力较大的227家制造业企业的问卷调查,应用SPSS和Mplus统计分析软件以及多元回归分析方法,实证检验利益相关者通过企业环境伦理对前瞻型环境战略的作用机理。 研究结果表明,利益相关者压力对企业环境伦理和前瞻型环境战略都有显著的正向影响;企业环境伦理正向影响前瞻型环境战略,且在利益相关者压力与前瞻型环境战略间有显著的中介作用;管理者道德动机正向调节利益相关者压力对企业环境伦理的影响;环境领导力正向调节企业环境伦理对前瞻型环境战略的影响;竞争优势期望正向调节利益相关者压力对前瞻型环境战略的影响。 研究结论丰富了自然资源基础观理论和领导力理论,扩展了对企业环境伦理和企业环境战略的研究,从管理者道德动机、环境领导力和竞争优势期望的视角为企业实施环境战略提供一个全新的方案;激励企业管理者将环境问题视为企业获得竞争优势的机会而非威胁,积极应对来自利益相关者的环境压力,提高环境领导力;为企业有效实施环境战略、绿色发展和可持续发展提供理论参考和管理启示。     

经济全球化与跨国公司战略选择

本文在对经济全球化背景、全球性战略特点以及三种主要的全球性战略和不同的国际战略联盟形式进行广泛分析的基础上指出跨国公司实施全球性战略并非是一种经济全球化趋势下的时髦选择,是否需要采用全球性的战略导向,采用何种类型的全球性战略,通过建立何种形式的国际战略联盟来实施全球参与的战略,关键要适应公司所处的外部环境和行业环境,要符合公司现有的能力,要服务于跨国公司特定的战略目标,同时要对多种影响因素进行综合的考虑,有针对性地设计、有选择地实施最能实现自身竞争优势的战略形式.     

Competitive Advantage, Quality Strategy and the Role of Marketing

The improvement of product and service quality has been widely discussed in the literature as an appropriate competitive strategy for achieving sustainable competitive advantage. However, neither the linkage between competitive strategy and quality, nor the role of marketing in the implementation of quality-based competitive strategy, has received detailed attention in the marketing and strategy literatures. This paper explores the interface between marketing and quality management in seller organizations, by developing a contingency model of quality strategy. This model is grounded in the literatures of marketing, strategy and quality management, and the perceptions of managers uncovered in exploratory interviews.     

多元化战略、高管持股分布设计与公司治理

多元化战略实施过程中高管持股作为一种长期激励机制其设计是否合理将直接影响企业战略收益的实现,在文献回顾的基础上分析高管持股利益趋同效应对多元化战略成功实施的积极意义以及公司治理强弱对高管持股效应的影响.对沪深两市2005年674家上市公司的数据进行实证分析,结果表明提高高管持股激励强度能有效改善多元化战略的实施效果,但高管持股分布设计差异影响利益趋同效应的发挥.公司治理作为企业战略实施的保障机制,可以有效地避免高管持股的壕沟防御效应.企业应该从高管持股分布设计和公司治理等多个维度同步建设入手,为多元化战略的成功实施创造条件.     

Strategy restoration

Discussions of strategic change generally assume that managers strive to break free from the constraints of their organization's past so that they can forge ahead into the future. However, some organizations instead opt to reinterpret and reenact abandoned strategies drawn from their own history. Such actions are largely unaccounted for in the literature on strategic change. Accordingly, we propose here a conceptualization of a distinct type of strategic change that we call “strategy restoration.” We first outline how strategy restoration fills a gap in current understandings of strategic change. We then elaborate conditions that motivate and enable organizations to pursue strategy restoration rather than other types of strategic change. Two components of the framework—organizational traditionality and memory—characterize the organization itself, and two—nostalgia and perceptions of the organization's authenticity—characterize the market in which the organization operates. The proposed conceptualization of strategy restoration and discussion of its underlying mechanisms carry implications for researchers and managers.