子公司“自下而上”的制衡:实现路径、弱化因素与作用边界

如何有效约束大股东掏空行为是公司治理学术界与实践界共同关注的焦点问题。传统的委托代理框架遵循母子公司“自上而下”的单向治理逻辑,忽视了子公司的自主性及其“自下而上”的制衡能力,难以从根本上解决子公司及其中小股东利益保护问题。尽管单向治理范式已经受到学者的质疑,但子公司通过何种方式对母公司产生制衡亟需进一步探索。文章基于前景理论的核心观点,运用2012—2017年中国上市子公司的平衡面板数据,采用多元回归方法验证了子公司管理者异质性对大股东掏空行为的影响,阐释了子公司“自下而上”制衡作用的实现路径、弱化因素及其作用边界。研究结果表明：上市子公司拥有能力较强的管理团队能够显著抑制大股东掏空行为。一方面,能力较强的管理者可以为大股东带来更多的控制权共享收益,限制了其控制权私有收益的获取,另一方面,也能够更加有效地识别与监督大股东的掏空行为,进而起到对大股东“自下而上”的制衡作用。作为具有双重效应的情境变量,CEO声誉及CEO与母公司关联度在中国情境下的负面效应更为凸显,二者均会弱化管理者能力对大股东掏空行为的制衡作用,即在子公司CEO声誉水平较高、子公司CEO与母公司关联度较强的情境下,子公...     

制度落差、社会资本与跨国公司海外子公司合法性

组织合法性是制度理论的核心概念,是影响跨国公司海外子公司生存和发展的关键因素.将跨国公司海外子公司的社会资本分为内部社会资本和外部社会资本,将海外子公司合法性划分为内部合法性和外部合法性,分析海外子公司社会资本对其合法性的影响机理,进而揭示制度落差在跨国公司海外子公司社会资本与其合法性关系间的调节作用,提出相应的理论命题,以期拓展组织合法性理论,并为越来越多进行跨国经营的中国企业提供理论参考.     

中国古代会审制度及其现代思考

司法审判制度是法治文明的镜子 ,中国古代的会审制度是一个值得研究的问题。在当时的朝代 ,会审制度也算得上是良法美制了。而今 ,中国古代的一些法律制度得到了两种不科学、不公正的待遇 ,一是把它渲染成美不胜收 ,陶醉于中华民族数千年之“国粹”的美妙旋律中 ;一种是把它批驳得一无是处 ,视之为中华民族的毒疮 ,欲除之而后快。这些 ,都是不可取的。“知今须鉴古 ,无古不成今” ,我们研究古代的法律制度 ,正是为了鉴古明今 ,去其糟粕 ,取其精华 ,是为了继承和发扬古代的良法美制。     

The Identification of Multiple Outliers in ARIMA Models

Abstract

There are three main problems in the existing procedures for detecting outliers in ARIMA models. The first one is the biased estimation of the initial parameter values that may strongly affect the power to detect outliers. The second problem is the confusion between level shifts and innovative outliers when the series has a level shift. The third problem is masking. We propose a procedure that keeps the powerful features of previous methods but improves the initial parameter estimate, avoids the confusion between innovative outliers and level shifts and includes joint tests for sequences of additive outliers in order to solve the masking problem. A Monte Carlo study and one example of the performance of the proposed procedure are presented.     

Applications of neural networks in manufacturing management systems

Abstract. The inherent complexities of modern manufacturing require more sophisticated systems for their management. Neural networks, which are massively parallel interconnected networks, have been shown to have extensive applications in various systems that can be used in manufacturing management. An extensive amount of literature has been published on the applications of neural networks in manufacturing, yet no comprehensive review of this literature to date has been offered. In this paper, we review the concepts and applications of neural networks as they relate to various aspects of manufacturing management.     

Stakeholders' Expectations of Board Roles: The Case of Subsidiary Boards

Journal of Management and Governance - What is the best for acompany? In most countries it isconsidered to be a duty for board membersto act in the best interest of thecompany. Few, however,...     

Unthinking the European Higher Education Area – differentiated integration and Bologna's different configurations

Differentiated integration was conceived of as a political methodology and as a technology to achieve a European “union” in the field of knowledge policies. However, the non-achievement with regard to the political goals of the European Higher Education Area has highlighted the limitations of this approach to promote furthering the EHEA. In this paper, unthinking is both a research strategy aiming to question those limits and a pedagogical tactic to question the assumptions about the futures. As a research strategy, articulations between unity and diversity are examined. Based on the analysis of the documents endorsed by the Education Ministers in keeping the pace of the Bologna process, the paper contributes to expand knowledge on the nature of Bologna’s differences and underlines the paradoxes in dealing with those differences. As a pedagogical tactic, unthinking questions the assumptions about the future scenarios sketched for higher education. Alternative ways to further integration are discussed on the basis of the idea of integration of the “differences”, bringing to the centre education as a political concern, as higher education institutions, professors, and students/graduates are those at the core of the political management of the “differences”.     

一种脱机手写体汉字识别的容错编码方法研究

手写体汉字识别是字符识别领域中的难点。为了使机器识别汉字适应于手写体汉字的变形等因素,基于人类认识汉字的容错机理,提出了一种用于机器识字的汉字容错编码方法,以提高手写体汉字识别率。该编码方法首先对横竖撇捺笔划形态给出了模糊化表示;然后定义了仿人拆字的字元集,并给出了易混淆笔划字元的多归类容错编码;接着给出了笔划字元的顺序判断规则和归结了36类简单常用字的部首子结构,并给出冗余的容错编码;进而建立了仿人构字的汉字编码规则和具有容错性的多模板字典,并对《新华字典》中收录的10000余个单字汉字进行了标准编码,重码率为0.48%;最后对HCCORG和NKIM手写体汉字库中的100个手写体汉字进行了仿真识别,识别正确率为96%。试验结果表明,这种编码方法可生成多模板字典,不仅对手写体汉字变形具有较好的容错性,且重码率和误识率较低。     

在多媒体辅助教学中如何构建新型师生关系

成功进行教育活动的前提条件就是要建立良好的师生关系,在教学中运用多媒体技术不仅能提高教学效果和质量,也有助于改善师生间的关系,使教师与学生之间的关系朝着更加平等、民主、和谐方向发展。     

中小跨国公司对海外子公司控制的规范化问题研究

随着企业国际化发展,我国中小跨国公司逐渐增多,加强对中小跨国公司海外子公司的有效控制日显重要。这即要求应健全相应的责任、选拔、激励、监督等机制,以及有效推进海外经营地人才的本土化建设等。