企业IT投资决策中的关键要素分析

本文提出企业IT投资决策中常见的主要问题；分析决策中需要把握的5个关键要素，包括IT和企业价值的关系，企业战略、IT战略关系和IT投资及资金计划的长短期平衡关系，不同IT投资类型之间资源配置的平衡关系，支持业务的稳定运营和响应其快速变化的IT需求之间的平衡关系，IT技术和IT投资决策之间的关系；阐述IT投资决策的一般观点和具体方法，着重探讨不同类型应用系统各自的决策方法。     

IT外包的利益相关方面的整体决策思考

IT外包已经成为全球市场里的重要商业现象,围绕IT外包有效决策的企业思考也越发凸现其重要性,既有的研究里存在大量支持IT外包决策思考的内容.本文的研究注意到IT外包企业决策中的主要利益相关方面(企业财务、信息服务、组织运营、企业员工和组织战略),联系影响它们的IT外包的收益一成本一风险,形成IT外包决策思考的整体基础,发展IT外包决策全面和深层思考及评估的有效指导,提供决策者在IT外包企业价值上全局和长远的管理视野.     

IT治理对企业IT投资的影响分析

企业希望从IT投资中获取商业价值,创造并保持竞争优势。本文叙述了IT治理的定义和重要性,从投资决策权和责任分配、风险控制和价值度量等角度分析IT治理对IT投资的影响。     

不对称信息下信息技术服务外包合同设计

本文针对客户企业向IT供应商外包信息技术服务这一背景,考虑IT供应商不仅具有开发信息系统能力的私有信息,且其开发过程中的努力行为对于客户企业不可见的情况,研究了客户企业信息技术服务外包合同设计问题。研究发现,不对称信息下,客户企业可以通过设计最优合同菜单来甄别不同能力的IT供应商,但是此时客户企业需要向高能力IT供应商支付信息租金。同时,客户企业可以通过设计最优合同有效规制高能力IT供应商系统开发过程中的努力行为,但是相比于信息对称的情况,不对称信息下低能力IT供应商会存在努力不足的现象。低能力IT供应商努力不足的现象会降低社会福利和客户企业的期望利润;客户企业向高能力IT供应商支付信息租金的行为也会减少客户企业的期望利润。增加系统调试阶段的调试时间或者选择信息系统故障检出率高的IT供应商,可以降低高能力IT供应商的信息租金,并缓解低能力IT供应商努力不足的现象,进而减少信息不对称给客户企业带来的利润损失。     

June Chan：CIO的变革之剑

CIO成功的关键,不在于技术有多么娴熟 与国外成熟的CIO制度相比,我国多 数企业的CIO尚处于“潜CIO”或 “准CIO”的状态。目前,我国的 许多企业,CIO还只是一个与信息有关的职 位,且绝大多数为部门级的,通常称为信息 中心主任或IT部门经理,未能渗透到企业 战略管理与决策层中,他们更多关注的是 具体信息技术的规划与实施,而非企业的 信息系统规划和企业战略规划,更谈不上     

信息披露机制评价、信息披露指数与企业业绩——基于931家上市公司的调查

信息披露和财务透明性不仅影响着投资者的价值判断和决策，同时也会影响到债权人等利益相关者。未按规定及时、准确、完整地披露信息是目前我国上市公司信息披露最为严重的问题。本文借鉴中外有关上市公司信息披露的研究成果和法律法规。以信息透明度为核心选择信息披露完整性、真实性、及时性三项评价指标。依据实证调研的数据对上市公司信息披露的真实性、及时性和完整性进行评价并得出信息披露指数（CCGIIDI^NK）。进一步的实证研究发现，信息披露机制虽然对于企业业绩和企业价值有一定的提升作用，但是并不是特别显著。其中的原因可能是上市公司信息披露机制本身相当薄弱，尚处在建立健全阶段。还不足以对上市公司企业业绩和企业价值产生全面而且显著的影响。因此。我国上市公司亟待建立和完善信息披露机制。以此提升整体公司治理绩效。提高公司业绩和价值。     

代理冲突下企业多元化投资行为的实物期权分析

利用实物期权的方法,本文分别建立了以股东利益最大化以及企业价值最大化为目标时的负债企业多元化投资模型.通过两种决策目标下多元化投资政策的比较,分析了负债代理下股东存在的投资决策非最优化问题.结果发现,若负债企业在投资前后都不存在债务风险,股东的投资决策将符合企业价值最大化原则;若投资能使债务由无风险变为有风险,企业将过度投资;若投资前后都存在风险,企业将投资不足.     

企业投资收益分析

企业是以盈利为目的依法经营实体。企业要通过自主的经营,达到自我发展的目的,首先应该有正确的经营决策,其中投资决策是最重要的决策。投资决策包括投资方向、投资环境和投资规模的决策,它对企业的经营活动有着长期的影响,涉及年限可长达几年甚至几十年,而且决策一旦实现就很难改变,因此也可以说这是一个带有决定性的决策。投资的结果可以导致新企业的庭生或改变原企业的生产能力。投资动用的资金额巨大,占用周期长,面临不确定因素多,其风险也较大。因此,分析和评价投资决策方案时除了遵循决策的一般原则外,还必须考虑资金的时间价值和风险价值。本文旨在给出一种实用的投资收益分析方法。     

基于心理承受能力假说的供应链信息共享模型

针对期望效用理论和前景理论对禀赋穹顶效用的忽视,提出了禀赋相关的心理承受能力假说,并以企业共享信息价值指数作为决策变量,构建了供应链信息共享的短板优化模型。根据该模型,可以通过不断提升短板企业的信息共享价值指数,达到最终实现整个供应链的信息共享。研究显示,供应链上企业信息共享价值指数与信息共享成功率之间存在正向关系,而与心理脆弱度成本弹性、社会风险水平、信息共享成本之间存在负向关系。本文的主要理论贡献一是将收入成本比引入到投资价值的制约因素集之中,强调投资收益率或者利润率的决定性作用;二是引入心理承受临界点概念,指出投资行为在该临界点的两侧表现出截然不同的特征。这一结果可以用于设计推进供应链信息共享的政策途径。     

基于RS的不完全信息IT项目风险决策算法研究

传统项目风险管理往往是根据管理者的经验来做出决策的，并且大多是采用定性分析方法，适用对象仅为完全信息。本文针对IT项目风险管理过程中存在的众多不完全信息，将粗糙集理论引入到风险决策中，对不完全信息的知识表达系统中潜在的规则进行了有效的挖掘，提出了基于粗糙集的不完全信息风险决策的一种算法，并通过实例分析，从定量的角度为风险决策提供依据。     

The Effect of Board of Directors’ IT Awareness on CIO Compensation and Firm Performance

Chief information officers (CIOs) play increasingly strategic roles in firms in this competitive global economy, which is now largely powered by information technology (IT). However, research has shown a lack of board of directors’ oversight on CIO‐ and IT‐related issues. Drawing on agency, resource dependence, and alignment theories, we investigate the effect of board of directors’ IT awareness on CIO compensation structure and firm performance. We conduct cross‐sectional time series analyses of data collected from various sources. Our study underlines three important findings. First, we show that some commonly known executive compensation determinants, such as individual characteristics and governance structure, do not have significant effects on CIO compensation structure. Second, with regard to CIO compensation structure, firms respond to increasing information asymmetry differently according to the level of IT awareness of their boards. Finally, firms perform better when their boards have higher levels of IT awareness, and this positive effect of IT awareness is considerably larger in IT intensive industries. Overall, our study provides empirical support for the important role of boards’ IT awareness in shaping CIO compensation and improving firm performance. Our results suggest that boards with functional area knowledge—or higher IT awareness in this case—can more effectively monitor and better incentivize executives, and consequently lead to better firm performance.     

中国制造业IT投资的绩效与行业特征调节效应

以中国制造业上市公司为研究样本,对信息技术投资与企业绩效之间的关系进行比较分析,并阐释行业特征变量在其中所起的调节作用.实证分析结果表明,信息技术投资有利于提高企业绩效,行业集中度、行业资本密集度和行业增长率均对信息技术与企业绩效之间的关系有明显的调节作用.本研究结论在一定程度上拓展了信息技术投资与企业绩效之间关系的研究内容,对中国制造业的信息化建设有一定的战略启示.     

An Exploratory Analysis of the Value of the Skills of IT Personnel: Their Relationship to IS Infrastructure and Competitive Advantage

Determining and assessing the requisite skills of information technology (IT) personnel have become critical as the value of IT has risen in modern organizations. In addition to technical skills traditionally expected of IT personnel, softer skills like managerial, business, and interpersonal skills have been increasingly cited in previous studies as mandatory for these employees. This paper uses a typology of IT personnel skills—technology management skills, business functional skills, interpersonal skills, and technical skills—and investigates their relationships to two information systems (IS) success variables, IS infrastructure flexibility and the competitive advantage provided by IS. The study investigates these relationships using the perceptions of chief information officers (CIOs) from mostly Fortune 2000 companies. The contributions of this study are: IT personnel skills do affect IS success, technical skills are viewed as the most important skill set in affecting IS infrastructure flexibility and competitive advantage, and modularity is viewed as more valuable to competitive advantage than integration. Several explanations are offered for the lack of positive relationships between the softer IT personnel skills and the dimensions of IS success used in this study.     

Examining the Antecedents and Consequences of CIO Strategic Decision‐Making Authority: An Empirical Study*

Despite the strategic importance of information technology (IT) to contemporary firms, chief information officers (CIO) often still have varying degrees of strategic decision‐making authority. In this study, we apply the theory of managerial discretion to define CIO strategic decision‐making authority and argue that the CIO's level of strategic decision‐making authority directly influences IT's contribution to organization performance. We also draw on the power and politics perspective in the strategic decision‐making literature to identify the direct antecedents to the CIO's strategic decision‐making authority. A theoretical model is presented and empirically tested using survey data collected from a cross‐industry sample of 174 matched pairs of CIOs and top business executives through structural equation modeling. The results suggest that organizational climate, organizational support for IT, the CIO's structural power, the CIO's level of strategic effectiveness, and a strong partnership between the CIO and top management team directly influence the CIO's level of strategic decision‐making authority within the organization. The results also suggest that the CIO's strategic decision‐making authority in the organization directly influences the contribution of IT to firm performance and that effective CIOs have a greater influence on IT's contribution when provided with strategic decision‐making authority.     

两寡头序贯进入下的B2B电子商务网站IT投资决策

在竞争性的B2B电子商务网站这一市场中,用户转移成本及网络外部性的存在会阻碍用户转向市场后入者,从而给市场先入者带来用户规模优势,而IT成本下降可以给后入者带来成本优势,在这些因素交互影响的市场环境下,先入者和后入者应采取何种IT投资策略以保持竞争优势是一重要问题。针对上述问题,通过综合考虑IT成本下降、用户转移成本及网络外部性等因素,构建了一个序贯进入的、两寡头垄断的B2B电子商务网站的IT投资决策模型,探讨了IT成本下降、用户转移成本及网络外部性等参数变化对B2B电子商务网站IT投资决策的影响。研究结果表明,随着IT成本下降,当用户具有高转移成本时,先入者可采取进攻性的、增加投资的策略;反之,当用户具有低转移成本时,后入者则可采取进攻性的、增加投资的策略,并且能够提供更高质量的网站,获得相对于先入者更高的市场份额;当网络外部性增强时,先入者则可采取进攻性的、增加投资的策略,而后入者只能采取防守性的、减少投资的策略。     

Environmental Factors,Managerial Processes,and Information Technology Investment Strategies

Although significant research attention has been directed at understanding the value of information technology (IT) investments for firms, very little attention has been paid to understand the IT investment behavior of firms. This article seeks to fill this void. We introduce the concept of IT investment strategy, defined by dimensions of intensity and proactiveness, to characterize the IT investment behavior of firms. Synthesizing the environmental deterministic and strategic choice perspectives of a firm's strategic decision making, we examine the effects of environmental factors, managerial processes, and the interplay between them on IT investment strategy. Specifically, we examine the impact of environmental factors such as industry clockspeed and information intensity on IT investment strategy. We also incorporate the strategic choice perspective to argue that managerial processes such as frequent chief executive officer—chief information officer communications and collective information systems planning play a critical role in shaping the firm's IT investment strategy. The empirical results show that the environmental variables are related to IT investment strategy. Besides, managerial processes serve as a means to understand the environment and thus moderate the relationships between the environmental variables and the various facets of IT investment strategy. The conceptualization of IT investment strategy and the focus on both environmental determinism and strategic choice should enrich our understanding of firms’ IT investing behavior.     

Performance effects of IT capability, service process innovation, and the mediating role of customer service

Few academic studies have investigated how information technology (IT) capability and service process innovation can create performance gains for firms through customer service. We propose that customer service is a significant mediator through which IT capability and service process innovation influence the performance of a firm, and that IT capability is also a critical factor that facilitates service process innovation. Empirical support for our argument was derived from data collected from 174 firms in the Taiwan IT industry. The results suggest that managerial initiatives should be directed at developing IT capability and service process innovation and leveraging them to facilitate customer service to attain superior firm performance. Furthermore, greater IT capability would lead to a higher degree of service process innovation.     

战略维度间的匹配关系与企业战略定位选择——基于战略群组理论视角

基于战略群组理论视角,分析了企业战略定位中不同战略维度的匹配问题。以境内外交易所上市的中国互联网企业为样本,选取移动互联业务比重和IT投入强度这两个关键战略维度,采用面板数据回归模型检验了研究假设。研究发现,当企业的移动互联业务比重和IT投入强度同时处于较高水平时,这一战略组合能为企业带来高绩效,是一种合理的战略位置;另一合理的战略位置则是较低的移动互联业务比重配以较低的IT投入强度,它也明显好于一者较高、另一者较低的战略组合。以上结果表明,战略定位的关键是实现不同战略维度决策之间的合理匹配,从战略组合的角度理解行业中的战略位置。研究结论不仅有助于理解移动互联市场的竞争战略与绩效,也验证了战略群组理论在战略定位研究中的重要意义,对战略组合的分析不可简化为对各战略维度的单独分析。     

中国证券投资基金的羊群行为分析

根据投资基金中报和年报中的投资明细数据,采用文献[1]和文献[2]的检验方法,从不同角度实证检验了中国投资基金的羊群效应,发现中国投资基金的羊群效应高于美国互助基金的羊群效应,中国投资基金并未表现出对大盘股、小盘股、新股以及信息技术行业样本股票的特别偏好。投资基金的交易以买为主。投资基金的投资重心有从小盘股向大盘股转变的趋势,这将有利于整个证券市场的稳定。投资基金的交易行为与股市走势密切相关。     

信息技术、核心能力和企业绩效的实证研究

信息技术增强企业竞争力的机理是有效提升企业信息技术应用水平的重要前提。基于核心能力理论构建信息技术资源和信息技术应用能力通过企业核心能力这一中介变量影响企业绩效的理论模型,并考虑环境动态性在信息技术增强企业竞争力过程中的调节效应,应用偏最小二乘法的结构方程模型,对中国296家企业的问卷调查数据进行分析。研究结果表明,在不考虑环境动态性的情况下,无论是信息技术资源还是信息技术应用能力都无法直接影响企业绩效,信息技术必须通过支持企业核心能力间接影响企业绩效;环境动态性在信息技术增强企业竞争力过程中有显著的调节作用,不同环境下信息技术影响企业绩效的机理是不同的,在稳定环境下企业信息技术应用的重点是获取支持核心能力的信息技术资源,在动态环境下企业更应该构建信息技术应用能力,才能实现对不断变化的核心能力的持续支持,进而提升企业绩效。