The Entrepreneurial Establishment of a Nonprofit Organization

The purpose of this paper is to offer an analysis of the nonprofit sector from the entrepreneurial point of view in order to show why the organizational form of nonprofit has arisen and, more precisely, why rational entrepreneurs choose to incorporate their business enterprises under the nonprofit regulation. Since nonprofit associations were formed before the emergence of the tax code, the favorable tax-status alone cannot explain an entrepreneurial preference for the nonprofit form. Tax considerations have then to be combined with other elements. The alternative view proposed in the paper is that the supply of factors such as capital and entrepreneurship provides the motivation for the rise of nonprofit enterprises. The entrepreneur and the managers enjoy control of the activity and see to it that service are produced in such a way as to maximize their net income. They do not ignore nonmonetary income in the sense that they find it rewarding to seek pecuniary gains as well as nonmonetary profits in any given period. To explain why an entrepreneur organizes his business as a nonprofit entity we investigate a theater production process.     

Corporate Governance and New Organizational Forms: Issues of Double and Multiple Agency

This paper addresses corporate governance inthe light of two relatively new developments inorganizational form, respectively towardsdevolved initiative within firms andpartnerships between firms. In so doing, itargues for an extension of corporate governancetheory and practice to take better account ofthe problems arising from double and multipleagency. New organizational forms can bereconciled with the requirements for corporategovernance through a number of complementarydevelopments, including the cooptation ofemployees and junior partners into ownershipand governance, more inclusive forms ofcontrol, mutual monitoring and the promotion oftrust.     

顾客参与公司治理与公司相互持股的比较研究

通过顾客参与公司治理与公司相互持股的比较研究,从企业战略联盟的角度,得出了顾客参与公司治理实质上是代表了一种新型的企业战略联盟类型——治理权战略联盟——的结论,它与现有的包括公司相互持股在内的股权型战略联盟和契约型战略联盟相比更具生命力和优越性。在当前经济总体上由短缺经济过渡到过剩经济、卖方市场变成买方市场的背景下,通过顾客参与公司治理的形式在供需双方间建立治理权的战略联盟必将成为越来越多企业的现实选择。     

投资机会（IOS）设定下公司内部治理对经营绩效的影响——基于中国上市公司的经验研究

传统的公司治理研究将处于不同组织环境的企业等同对待,造成了研究结论的较大分歧.本文依据投资机会集(IOS)理论,运用我国上市公司的经验证据,在设定投资机会集的条件下,考察了不同成长性的企业其公司治理对经营绩效的影响.研究结果表明:成长性较高的公司,其经营绩效的改善与独立董事比例、高管层的持股比例显著正相关,但与高管层年薪相关关系不显著;成长性较低的公司.其经营绩效的提高与独立董事比例和高管层的持股比例相关关系均不显著,但与高管层年薪存在弱的正相关关系.     

The Other Side of Ownership in Nonprofit Organizations: an Economic Rationale for Democracy

Going beyond the deeply examined non-distribution constraint, which refers to the right to residual income, the paper investigates the other side of ownership, i.e. the right to residual control, to discover a general economic rationale for what we call “democracy”: a collective decision-making method based on the principles of equality and inclusiveness. The main result of the analysis is to point to the concept of perfect democracy as an efficient solution for the provision of public goods where other allocative mechanisms, such as the marketplace, fail.     

管理者代理行为、公司过度投资与公司治理——基于企业生命周期视角的实证研究

通过建立企业生命周期新的划分指标,从企业发展的动态层面研究管理者代理行为与公司过度投资之间关系随企业生命周期的演变,并检验公司治理机制随企业生命周期的治理效果。结果表明,我国上市公司管理者代理行为随企业生命周期动态变化,其对公司过度投资的影响随企业生命周期发展不断减弱。不同公司治理机制的治理效果随企业生命周期也发生变化,其中董事长总经理兼任在成长阶段能够有效抑制公司过度投资,而独立董事在成熟阶段及大股东在衰退阶段均显著没有发挥应有的监督作用。成长阶段中的公司监事会能够对代理行为引致的过度投资起到显著的监督作用,而董事长总经理兼任则显著加剧代理行为引致的过度投资,成长阶段中管理层持股、成熟阶段中独立董事与外部机构持股以及衰退阶段中大股东均显著没有起到应有的治理作用。     

Corporate Governance and the Governance of Innovation: The Case of Pharmaceutical Industry

The paper focuses on some organizationaldynamics that have characterized the pharmaceuticalindustry in the last thirty years, whenbiotechnology and the development of lifesciences have defined a new technologicalparadigm, reshaping many aspects of theindustry, especially the organization ofinnovative activity. We suggest an original interpretation of someorganizational settings, as the increasedimportance of skilled scientists within firmsand the development of inter-organizationalalliances for the division of scientific labor.Following recent theorizing on corporategovernance issues, which points out theintrinsic organizational and relationaldimensions of the resource allocation processesand strategic decision-making, we propose a roleof the organizational practices mentioned aboveon corporate governance, and, in turn, aninfluence of different governance arrangementson innovative activity. We recall moretraditional approaches to the analysis ofcorporate governance, and give a broaderinterpretation to the relevant variablesproposed. Further, relying on more recenttheories and on literature on firm's boundariesand sectoral systems of innovation, we proposeindustry-specific variables forpharmaceuticals, including internal settings aswell as relations with external actors.Preliminary empirical support is given to ourhypotheses, concerning a panel of large USpharmaceutical companies.     

The Contribution of Work Representation to Solving the Governance Structure Problem

The aim of this paper is to explain in what ways work representation may contribute to an efficient governance structure. The insights from institutional economic theories will be applied to two different kinds of employee participation, namely trade unions and works councils. From the discussion it follows that the latter may be better equipped than the former to play an effective role in corporate decision-making, owing to its specific institutionalisation. The paper concludes with the finding that works councils could fulfil an important economic function, by protecting the interests of the employees as well as those of the shareholders.Several agency problems can be solved. By giving the workers consultation and codetermination rights, this will reduce their dependence on unilateral decisions by the management and may stimulate them to be more cooperative, leading to greater productivity and less monitoring costs. By giving the workers information rights, the management becomes more disciplined as well. Because contrary to trade unions the works councils usually do not determine the terms of employment, the owners of the firm do not need to fear that the employees will be able to extract a portion of the firm's profits.     

Integration and Autonomy in Organizational Governance: A Comparative Study of Two Government-Owned Railways in Hong Kong

This article identifies the patterns of integration and autonomy in organizational governance in two government-owned railways in Hong Kong in relation to relevant external and internal actors from the government, market and civil society. The Kowloon Canton Railway Corporation, a government department turned into a statutory corporation, and the Mass Transit Railway Corporation Limited, a statutory corporation turned into a listed company, are both profitable enterprises. They have been subjected to similar macro-governance influences (mainly political and policy changes), but their patterns of integration and autonomy with relevant actors in organizational governance are not the same. The historical variations in the integration-autonomy patterns, notably an increased tendency for government intervention, as well as major differences between the two railways in their relationships with market and civil society actors, can often be explained by three interrelated factors, namely, political conditions, community expectations and performance.

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关系质量视角下移动虚拟社区治理对组织公民行为影响研究--以知识型移动虚拟社区为例

从关系质量视角出发,探索移动虚拟社区治理对组织公民行为的影响机理。在已有研究的基础上,结合移动虚拟社区的特点,提出移动虚拟社区治理的内涵和构成要素。构建以成员-平台关系质量和成员-成员关系质量为中介变量的移动虚拟社区治理对组织公民行为影响的理论模型,利用结构方程和Bootstrap法对模型进行验证。通过对知识型移动虚拟社区用户的调查,结果显示:社区构建与成员嵌入对成员-平台关系质量与成员-成员关系质量都有显著影响,而社区监管和信息保护却只对成员-成员关系质量有显著影响;成员-平台关系质量与成员-成员关系质量对组织公民行为均具有显著影响,但成员-成员关系质量对组织公民行为的影响更大;移动虚拟社区治理能够通过成员-成员关系质量和部分通过成员-平台关系质量对组织公民行为产生正向影响。     

公平偏好视角下的“龙头企业+农户”供应链关系治理研究

针对"龙头企业+农户"供应链中由于不公平交易而导致农户生产投资水平下降这一现实,研究了公平偏好影响龙头企业和农户间博弈结果的机理,并有针对性地提出了供应链关系治理的建议。研究结果表明:当农户具有公平偏好时,龙头企业不公平的收购价格是导致农户生产投资意愿降低的主要原因;不公平的收购价格不仅会降低农户的效用,同时也会降低龙头企业以及供应链整体的效用;强化龙头企业和农户间交易的公平性,能够激励农户提高生产投资水平,最终实现供应链上下游的"双赢"。     

公司治理效率与投资者保护：一个理论分析框架

本文通过一个理论模型的分析框架,探讨了公司治理与投资者保护之间的内在联系.本文的研究结果表明,公司治理与投资者保护之间存在密切的联系.法律对投资者的保护越好,则股东经理转移公司利润的倾向越低,治理效率越高;在信息不对称情况下,所有上市公司都将选择治理效率最低的战略组合,这是目前我国上市公司治理效率普遍较低的原因之一;如果法律强制性地提高对投资者的保护,将使所有公司都能从中得到效率收益,从而使得所有公司的状况得到改善.     

Executive Stock Options in Germany: The Diffusion or Translation of US-Style Corporate Governance?

Equity-based pay in the form of executive shareoptions (ESOs) is a controversial part of thetypical, US-style governance package, and ESOsin Germany are the focus of this paper. Aconventional view would see ESOs as a US-styleorganizational innovation diffusingglobally in general, and to Germany inparticular.As an alternative to innovation diffusion,however, a translation perspective wouldsuggest that the diffusion of apparentlysimilar governance devices around the worldhides the actual adoption of differentpractices.US/German comparative case studies arepresented as an empirical contribution thatgenerally shows a pattern so far consistentwith this translation view. In addition,intriguing and contrasting results are shownfor UK/German comparisons in the sense thatactual UK ESO plans are discovered to be moredistant from the US standard than German ones.     

Foresight Study on the Risk Governance of New Technologies: The Case of Nanotechnology

Technology‐led innovation represents an important driver of European economic and industrial competitiveness and offers solutions to societal challenges. In order to facilitate responsible innovation and public acceptance, a need exists to identify and implement oversight approaches focused on the effective risk governance of emerging technologies. This article describes a foresight study on the governance of new technologies, using nanotechnology as a case example. Following a mapping of the governance landscape, four plausible foresight scenarios were developed, capturing critical uncertainties for nanotechnology governance. Key governance elements were then stress tested within these scenarios to see how well they might perform in a range of possible futures and to inform identification of the strengths, weaknesses, opportunities, and threats for nanotechnology governance in Europe. Based on the study outcomes, recommendations are proposed regarding the development of governance associated with the responsible development of new technologies.     

The Mutable Nature of Risk and Acceptability: A Hybrid Risk Governance Framework

This article focuses on the fluid nature of risk problems and the challenges it presents to establishing acceptability in risk governance. It introduces an actor‐network theory (ANT) perspective as a way to deal with the mutable nature of risk controversies and the configuration of stakeholders. To translate this into a practicable framework, the article proposes a hybrid risk governance framework that combines ANT with integrative risk governance, deliberative democracy, and responsive regulation. This addresses a number of the limitations in existing risk governance models, including: (1) the lack of more substantive public participation throughout the lifecycle of a project; (2) hijacking of deliberative forums by particular groups; and (3) the treatment of risk problems and their associated stakeholders as immutable entities. The framework constitutes a five‐stage process of co‐selection, co‐design, co‐planning, and co‐regulation to facilitate the co‐production of collective interests and knowledge, build capacities, and strengthen accountability in the process. The aims of this article are twofold: conceptually, it introduces a framework of risk governance that accounts for the mutable nature of risk problems and configuration of stakeholders. In practice, this article offers risk managers and practitioners of risk governance a set of procedures with which to operationalize this conceptual approach to risk and stakeholder engagement.     

终极控制股东两权偏离与企业绩效:公司治理的中介作用

基于2004年～2006年中国上市公司截面数据,应用回归分析的方法,系统考察终极控制股东两权偏离、公司治理与企业绩效间的互动机理,检验公司治理在两权偏离与企业绩效关系中的中介效应.研究结果显示,终极控制股东两权偏离对公司价值具有显著的负向效应,其负向效应随终极控制股东现金流权比例的提高而趋于降低;终极控制股东两权偏离对公司治理具有显著的负向效应,其负向效应随终极控制股东现金流权比例的提高而趋于降低;公司治理对公司价值具有显著的正向效应,其在终极控制对公司价值的作用机制中具有显著的中介效应,中介效应占总效应的比例超过50%,终极控制股东现金流权比例的提高会降低公司治理的中介效应.基于实证分析结果,最后为优化公司治理提出相应的政策建议.     

VC治理行为中介作用下的关系专用性投资与技术创新绩效

以风险投资“关系型融资”机制为视角,立足资源基础理论与交易成本理论,在“关系租”起源与“关系型融资”价值创造机制探讨的基础上,构建关系专用性投资、VC治理行为与技术创新绩效关系整合模型,研究不同关系专用性投资属性对技术创新绩效的影响以及VC治理行为的中介作用.通过264家科技型创业企业调研所得数据进行实证分析,研究显示,实物型关系专用性投资与VC监控行为正相关,与VC增值服务负相关,VC监控行为与技术创新绩效负相关;知识型关系专用性投资与VC监控行为负相关,与VC增值服务正相关,VC增值服务与技术创新绩效正相关.VC治理行为在关系专用性投资与技术创新绩效的关系中具有部分中介效应.     

Tactics to Ensure Durability of Behavior Change Following the Removal of an Intervention Specialist: A Review of Temporal Generality Within Organizational Behavior Management

The endurance of behavior change over time, including the time period after a behavior specialist has ceased to offer direct services, is an important consideration for both organizational behavior management and behavior analysis in general. This article considers a dozen strategies labelled temporal generality tactics that may foster the maintenance and institutionalization of intervention efforts in organizational settings. The use of such tactics was examined by conducting a comprehensive review of articles published between 1977 and 2014 in the Journal of Organizational Behavior Management. The results of this review suggest that although follow-up measures are frequently collected, explicit and proactive strategies to systematically increase the success of long-term behavior change are rarely used or researched.     

基于MSVAR进出口贸易与经济增长的非线性效应分析

运用MSVAR模型分析1952年～2007年中国进、出口贸易和经济增长之间的关系,应用bootstrap仿真实验检验模型系数的显著性,利用状态相依广义脉冲响应函数简化解释MSVAR模型变量之间的关系。研究结果表明,该方法能准确捕捉对外贸易和经济增长关系的状态转换的时点,可以明确地确定两种状态,即国内或者国际环境不稳定,不利于发展对外贸易的状态1;国内和国际环境稳定,有利于发展对外贸易的状态2。进出口增长率与GDP增长率存在动态非线性关系,在国内和国际环境有利于发展对外贸易的稳定状态下,进、出口增长率的冲击对经济增长有较长期的正效应;在国内和国际环境不利于发展对外贸易的不稳定状态下,进、出口增长率的冲击对经济增长有负影响,并且具有比稳定状态时冲击影响更大、延续期短的特征。进出口贸易在不同的经济环境下影响经济增长的效应不同。