日本东京大学理工科的学术组织与创新

学术组织创新是学术繁荣的制度保证 ,也是任何一流大学的成功奥秘。作为日本理工科龙头老大的东京大学 ,在二战后 5 0年的发展历程中 ,向世人提供了工程教育和研究中的三种特色鲜明的学术组织模式。这种学术组织模式对中国建设世界一流大学有重要借鉴意义     

Managing C-suite conflict: The unique impact of internal and external governance interfaces on top management team reflexivity

The ability of Top Management Teams (TMTs) to reflect critically on their own actions represents an important element of effective TMT decision making and governance effectiveness. This paper therefore examines how the TMT-board interface internal to the organization, as well as the TMT interface with the external supervisory authority, shape TMT reflexivity. Drawing from governance and psychological theories, we posit that cognitive conflict at the TMT-board interface can escalate by increasing levels of affective TMT-board conflict, and hereby, harm TMT reflexivity if not managed well. This proposition was tested in a multisource team-level data set collected in the field among TMTs (N = 111 TMT members) and their supervisory boards (N = 152 board members) of 56 Dutch insurance companies. The findings demonstrate that the link between cognitive and affective TMT-board conflict is mitigated by board membership influx. Yet in cases where conflict escalation does occur, its subsequent impact on TMT reflexivity hinges on the degree to which an external supervisory authority monitored TMT actions. The results illustrate that TMT decision making processes can be effectively influenced by internal and external TMT-governance interfaces, yet at different conflict stages, and through different governance actions.     

Enforcing cooperation in public goods games: Is one punisher enough?

We experimentally investigate a finitely repeated public goods game setting where, in each round, access to sanctioning power is exclusively awarded to one single player per group. We show that our central ‘Top Contributors as Punishers’ institution – a mechanism by which a player needs to be the highest contributor in her group in order to earn the right to sanction others – is extremely effective in raising cooperation and welfare due to turnover in the top contributor role and to top contributors’ willingness to substantially sanction others. Our findings yield implications for the design of mechanisms intended to foster cooperation in social dilemma environments.     

机顶盒发展初探

对机顶盒在因特网和有线电视网两方面不同的发展思路进行了介绍 ,提出了机顶盒在我国的发展重点     

Top management departures in cross-border acquisitions: Governance issues in an international context

This study examined top management team departures in U.S. manufacturing firms acquired by a foreign multinational during the six-year period following acquisition. Results indicated that greater cultural distance between the United States and the home country of the foreign multinational, higher levels of international integration in the target industry, and poor preacquisition performance in the U.S. target company were related to greater postacquisition top management departures. These effects were moderated significantly by the foreign acquirer’s international business and U.S. acquisition experience and showed different patterns over the short-term, intermediate-term, and long-term. Implications for future research on top management teams involved in cross-border acquisitions are discussed.     

高新技术企业领导集体有效性的理想与差距研究

企业高层领导集体(Top M anagem ent Team s,TMTs)是对企业影响最大的一个小团队。高新技术企业在我国的高速发展对TMTs的有效性提出了新的挑战。在对高新技术企业高层领导团队成员的半结构化访谈,并在对访谈结果进行编码的基础上,分析了TMTs领导者和成员对理想集体和本集体的差距的特征评价。结果发现,TMTs更关注管理制度、沟通、人才的维系与培养、管理知识与管理人才等。管理制度规范化是被领导者和成员提及频率最高的理想集体的特征;而制度规范化的缺乏是领导者提及频率最高的差距,缺乏管理知识和管理人才为其他成员提及频率最高的差距,还就不同绩效企业之间的TMTs评价差异进行了比较。     

The determinants of top management pay

Agency theory argues that companies need to structure their top management pay so as to attract, retain, motivate, and reward senior executives. It is implicit in this literature that managers should be rewarded for performance and that company size should not be a significant determinant of compensation. Empirical evidence in many countries has concluded, however, that size is a major determinant of management remuneration and the pay-for-performance link is very weak. This study examines the determinants of senior executives’ remuneration and bonus payments in Hong Kong companies using recently available data. We examine both the level of pay and changes in pay. Corporate size is found to be a major explanator of remuneration levels and of changes in the pay of the CEO and executive directors. Accounting profitability is also a significant explanator of compensation. Performance, as measured by stock returns, has little or no statistically significant relationship with pay; in fact, some of the results show negative relationships. Some share ownership characteristics have influences on the levels of remuneration. In particular, share ownership by directors and share ownership by institutional investors moderate the compensation levels. In contrast, corporate governance variables have little association with change in pay. Overall, the results imply agency arguments that advocate pay-for-performance compensation schemes are not major factors in setting top management remuneration in Hong Kong.     

Trading on Twitter: Using Social Media Sentiment to Predict Stock Returns

Decision making is often based on the rational assessment of information, but recent research shows that emotional sentiment also plays an important role, especially for investment decision making. Emotional sentiment about a firm's stock that spreads rapidly through social media is more likely to be incorporated quickly into stock prices (e.g., on the same trading day it was expressed), while sentiment that spreads slowly takes longer to be incorporated into stock prices and thus is more likely to predict stock prices on future days. We analyzed the cumulative sentiment (positive and negative) in 2.5 million Twitter postings about individual S&P 500 firms and compared this to the stock returns of those firms. Our results show that the sentiment in tweets about a specific firm from users with less than 171 followers (the median in our sample) had a significant impact on the stock's returns on the next trading day, the next 10 days, and the next 20 days. Interestingly, sentiment in tweets from users with fewer than 171 followers that were not retweeted had the greatest impact on future stock returns. A trading strategy based on these findings produced meaningful economic gains on the order of an 11–15% annual return.     

How Fortune 500 companies used the Web for philanthropic and crisis communication following Hurricane Katrina

This study examined how Fortune 500 companies used their Web sites to provide philanthropic and crisis communication response following Hurricane Katrina in 2005. Results showed that companies tended to use traditional means of communication versus new media tactics to disseminate information related to the disaster. Companies with holdings in Louisiana and Mississippi tended to use slightly more types of information than companies without a substantive presence in those two states.