From pension funds to piggy banks: (Perverse) consequences of the Stability and Growth Pact since the crisis

As part of their strategy for economic and monetary union, European governments committed themselves to fiscal discipline – particularly by placing limits on annual deficits and on public debt. Subsequently, and as they sought to respond to the “current crisis”, they embraced the view that only if public finances were kept under control would sustainable recovery be possible. Rules of fiscal governance were strengthened. To help them meet these rules, the governments of many member States of the European Union made changes to their pension systems or to funds they had established specifically to pay the costs of population ageing. The intention was not to cut retirement benefits or to improve the efficiency of the relevant pension schemes and institutions. Rather, it was to free up resources immediately. Funded pension schemes and pension funds were treated like “piggy banks” that were raided when times became hard. Moreover, the policies pursued succeeded in meeting their objectives only because the system of national accounts according to which outcomes are judged does not recognize the way in which most of the fiscal gains are matched by future fiscal liabilities.     

机制碎片化及其对全球治理的影响

全球治理体系结构中存在着广泛的机制碎片化,构成了国际关系领域新的制度现象及结构特征。为此,需要对机制碎片化这一治理新情况给予重视,探讨治理机制碎片化的成因与后果,并就如何进行有效管理提出相应的对策。在当前新的世界政治经济环境背景下,面对全球治理机制碎片化的新挑战,中国作为全球治理体系的建设者,必须对日益显现的机制碎片化及其复杂性状况加强研究、有所应对,发挥中国自身应有的作用,并创造性参与,提升全球治理机制的有效性与合法性。     

全球治理机制的发展与中国的参与

全球化的发展不仅催生了全球治理,也推动了各类治理机制的发展。在此过程中,全球治理机制呈现出治理主体的多元化与不平衡性、治理对象的多样化与跨国性、治理规制的规范性与"柔"性、治理效果的有限性与滞后性等特点。就其未来发展来看,全球治理机制逐渐显现出治理议题广泛化、治理结构网络化、治理机制民主化等发展趋势,在一定程度上有利于引导治理机制走向完善。本文认为,中国在参与全球治理机制的过程中既要坚持民主平等、权责统一、合作共赢的原则,又要对自身的角色有明确的定位并适时转变,以更加积极、稳健、自信的大国姿态参与全球治理机制的发展与变革。     

提高生产率成长率的三种外部因素分析

通过对500家上市公司的实证分析发现,产品竞争、金融压力和股东控制这三种外部因素同企业生产率成长率存在一定程度的正相关关系。垄断租金与价值增加值之比同企业生产率成长率负相关;利息支付额与现金流量之比同生产率成长率正相关;存在占支配地位的大股东控制会导致更高的生产率成长率。同时,也有证据显示金融压力和股东控制这两个因素能够替代产品竞争。     

关系型治理向正式治理转型的最优化分析

Li(2003)和王永钦(2006、2009)在认识到关系型治理对于经济发展的重要意义的同时,也指出了从关系型治理向正式治理转型的必要性。从微观主体对合约形式的选择行为入手,可以建立了一个最优化模型来进一步研究从关系型治理向正式治理转型的条件和策略,具有一定的现实意义。     

关系契约治理与外包合作绩效——对日离岸软件外包项目的实证研究

对日离岸软件外包项目具有典型的关系契约特性,现有文献对软件外包中的关系契约治理及对合作绩效的影响还缺乏系统的理论分析和实证研究。信任、交流和相互适应调整作为重要的关系规范,在对日软件外包关系契约治理中具有重要意义。本研究根据访谈和110个项目的数据实证检验了关系规范对离岸软件外包项目绩效的影响。通过结构方程模型方法发现,交流的有效性对于项目质量和供应商成本控制绩效有积极影响,相互适应调整对于成本控制绩效也有积极影响。这个发现有助于构建有效的关系契约治理机制,促进软件外包产业发展。     

信任、关系、控制与研发联盟绩效——基于中国制药产业的研究

本文以我国制药产业研究开发联盟为研究对象,研究了关系治理(包括信息共享、持续性预期、关系深化)、过程控制、信任对联盟绩效的影响。研究发现,持续性预期、信息共享有助于增进信任,进而提高联盟绩效;技术的不确定性越高,信任对联盟绩效的促进作用越显著;但过程控制则会降低信任与联盟绩效的正相关。     

The Civilizing Process of Trust: Developing Quality Mechanisms which are Local,Professional‐led and thus Legitimate

‘Quality’ and ‘performance’ have become defining concepts for policymakers and health‐care systems alike. Yet whilst these principles are of fundamental importance, their practical implementation and assurance are far from straightforward. This commentary analyses the difficulties faced in enhancing quality and performance in the English NHS. Many recent initiatives have been driven through incentives and external auditing of the professionals providing health care on the frontline. Drawing on recent literature and research findings, we argue that this checking‐based ‘audit culture’ is fundamentally flawed in driving quality and performance. Many targets and measures are too crude to reflect important aspects affecting patient outcomes and therefore these frameworks lack legitimacy amongst professionals. An alternative, trust‐based model is proposed – one more capable of acknowledging the meaning, complexity and specificities inherent to professional work. Quality mechanisms developed locally by professionals are able to produce the legitimacy crucial for their effectiveness. It is argued that the normative obligation of approaches based on conditional trust is a more compelling incentive towards good practice than targets and sanctions. This governance by ‘the social’ is able to motivate a more holistically enlightened and consistent reflexivity towards practice, though it is only able to flourish in the absence of purposive‐rational systems.     

A governance network perspective on environmental conflicts in China: findings from the Dalian paraxylene conflict

Employing the Governance Network framework, this article presents an in-depth case study of the conflict that evolved from 2003 onwards over the construction and operation of a paraxylene plant in Dalian, China. The study explores the usefulness of this framework as an empirical tool to describe and make sense of policy processes and governance in multi-actor situations in China. The analysis shows the lack of anticipation and deliberation by Chinese governments, resulting in the buildup of citizens’ concerns, mediated by social media beyond government control. This results in an outbreak of protest followed by uncoordinated governmental responses, with high costs for all parties. It is argued that, because of the underlying institutional causes, the challenges are even greater for Chinese governments to come to grips with the increasing need for internal coordination, deal with new social media, and balance economic and environmental values.     

上市公司治理:理论与现实的距离——基于1250份上市公司“自查报告和整改计划”的分析

本文根据1250家上市公司所公布的"自查报告和整改计划",重点从大股东、董事会/监事会、经理层以及投资者法律保护等四个方面对"自查报告和整改计划"的调查问题进行全面归纳、整理、分解和剖析,通过统计分析和理论文献对比,综合反映出目前我国上市公司治理现状和问题.调查分析结果表明,虽然我国目前已基本上建立了一整套与上市公司治理相关的法律法规,上市公司在大股东、董事会、经理层和投资者保护等方面的行为得到了一定的规范约束.但是,我国上市公司治理仍然处在不断完善过程中,如何强化大股东的信托义务和法律责任,从根本上解决大股东侵占中小股东利益的问题、保证董事会制度的独立性和有效性、培育经理人市场,积极推进股权激励机制、落实投资者法律保护制度等成为今后完善我国上市公司治理的重要任务.