董事会特征与总经理变更

本文以在上海证券交易所1999年前上市的公司为样本,研究董事会特征等治理变量对总经理变更的影响。研究结果表明,对相对业绩下降公司的总经理变更能起到显著解释作用的变量只有董事会会议的次数和公司的领导结构。而其它治理变量,诸如董事会规模、管理董事比例、独立董事比例、股权集中度、董事会成员持股比例等,未能对总经理变更起到显著的解释作用。     

国有股和法人股对公司业绩的影响--公用事业型上市公司的实证研究

公司的股份集中于少数几个大股东手中是中国公司股权结构的一个普遍特征,研究这些大股东如何凭借其持股地位影响公司业绩是中国公司股权结构研究的一个非常重要的问题.本文选取了在上交所上市的公用事业型公司1998年至2002年的平行数据进行实证研究,结果表明,法人股对公司业绩有积极影响,国有股对公司业绩的影响视具体情况而定.     

企业家战略--培育创新能力的企业内部战略

近几年来,在超强竞争背景下国外兴起的企业家战略,是公司努力将组织各个层次的员工培育为普遍具有企业家精神、思维和行动的战略,是努力将整个公司转变为能够发挥员工企业家精神的战略.企业家公司以异质的企业家人力资本和企业家智力资产持续创新,破坏均衡,产生竞争优势和显著的业绩.企业家战略理论研究的是公司如何获得具有创新、变革、远见卓识和承担风险的能力,是对正在兴起的内部战略理论的丰富和发展.企业家战略与核心能力理论互相补充,并且改变了某些传统的战略管理观念.     

Reshaping state/local communities relations in Tunisia: The socio-cultural and institutional challenges of the decentralization project

International development agencies believe that by adopting institutional reforms based on the best practices that have proved effective elsewhere, so-called « developing countries » could take their places in the globalised economy. Based on a case study carried out on the implementation challenges of a decentralization project in Tunisia, I will argue by using an interpretive approach that this thesis is not sustained. This article shows that institutions cannot be reduced to their technical functions but that they are based on particular collective imaginaries that ground what is legitimate or not and structure the relationship of individuals to power and the meaning given to their actions. It encourages the consideration of cultural framework of meaning; these local cultural references structure the governance modalities of a society, understood in terms of the modalities of exercise of power in a given group (state, company, local authority, etc.). It advocates the necessity to move from a technic-prone approach in the implementation of institutional changes towards a socio-cultural approach that integrates the local expectations of what “good governance” should be and on which depends the legitimacy of institutions and their appropriation by local populations.     

公司治理与资本结构优化问题

本文在公司治理理论的基础上,分析了公司治理、债务结构与管理者之间的关系,强调了债务机制与管理者激励在企业改革与资本结构优化中的重要作用,认为要提高国家巨大投资的效率,必须重构公司治理结构、优化公司资本结构.     

Will they stay or will they go? How network properties of WebICs predict dropout rates of valuable Wikipedians

This paper contributes to our understanding of an increasingly prevalent work system, web-based internet communities (WebICs). We are particularly interested in how WebICs are governed given the fact how different they are compared to more classical forms of organization. We study the governance of a WebIC by studying the structure and dynamics of their edit network. Given the fact that the edit network is a relational structure, social network analysis is key to understanding these work systems. We demonstrate that characteristics of the edit network contribute to predicting the dropout hazard of valuable WebIC members. Since WebICs exist only thanks to the activity of their contributors, predicting drop-outs becomes crucial. The results show that reputation and controversy have different effects for different types of Wikipedians; i.e., an actor’s reputation decreases the dropout hazard of active Wikipedians, while participation on controversial pages decreases the dropout hazard of highly active Wikipedians.     

信任与激励:价值链成本治理机制的实验研究

本文采用试验研究方法,模拟价值链节点企业交易过程,研究了信任与激励两种价值链成本治理机制的治理效果以及它们之间的作用关系。试验结果显示,高度信任与基于价值链利益的激励机制均可以有效缓解或防范合作问题、协调问题和侵占问题,对价值链成本治理具有明显的治理效果。当价值链节点企业之间缺乏信任的时候,激励机制会失去效用;信任机制与激励机制之间具有显著的互补关系。     

机构投资者持股对信息披露的治理作用研究——以管理层盈余预告为例

本文以我国A股上市公司2004-2007年盈余预告披露数据为例,实证检验了机构投资者对信息披露的治理作用。结果发现:(1)随着机构投资者持股比例的增加,管理层采取的盈余预告精确性提高(更具体的形式和更小的误差),及时性也增强;(2)银行、财务公司类机构、一般基金类机构对管理层盈余预告选择的积极治理作用相对较强,而养老、保险类机构对管理层盈余预告选择的积极治理作用则相对较弱;(3)处于不同持股规模时,管理层盈余预告的精确性、及时性均随着机构投资者整体持股比例增大而提高。但是,机构投资者持股比例的提高易导致了管理层盈余预告的乐观态度倾向;(4)股权分置改革后,机构投资者持股对管理层盈余预告披露选择的积极治理作用比股权分置改革前有所增强。建议大力发展机构投资者规模和专业素质以优化投资者结构,促进我国资本市场的健康发展。