再论票据代理制度中的若干法律问题——从中日票据理论对比的角度

票据法相对于民法来说是特别法,且在商事法中属于技术性规范最强的一部法,因此在具体规则中应当允许其作适当的变通.票据行为作为民事行为的一种,民法上的代理制度当然适用于票据代理.不过,针对票据行为中的无权代理、越权代理、表见代理的处理方法,应该分别不同于民法上的适用规则提出适度的修改和补充,并对保护善意第三人的范围问题提出不同的见解.     

Ownership Strategy and Foreign Affiliate Performance in Multinational Family Business Groups: A Double-edged Sword

We argue that ownership strategies can be a double edged sword for multinational family business groups from emerging economies and the performance of their affiliates located abroad. We test an integrated framework based on internalization and agency theory on a longitudinal dataset of multinational family business groups from Taiwan. We find evidence for the contingent impact of cultural differences and family management on the association between ownership strategy and affiliate performance. While direct ownership is seen as offering more control over the affiliate, we show that this comes at a performance cost for affiliates in culturally different host countries and affiliates under family management. Indirect ownership seems to be one way to positively influence affiliate performance in culturally distant countries, but seems not to be contingent on family management utilization.     

Relationship between boardroom independence and corporate performance: Reflections and perspectives

The perceived economic value of an independent boardroom configuration has progressively emerged as a matter of considerable importance in the academic and popular literature. The normative research paradigm has fundamentally been dominated by positivists who formulate inferential models populated by large sets of archival data. Regrettably, however, several decades of intense inquiries and passionate debates have invariably failed to ascertain (or dispel) the economic value of an independent boardroom configuration. The lingering boardroom independence–corporate performance saga has reached an impasse with no clear resolution in the foreseeable future. In this study, I provide a diagnosis (through the thematic analysis of semi-structured interviews) of why the economic viability of an independent boardroom remains an elusive phenomenon for positivist researchers. A central reason for the research impasse is attributed to ontological complexities intrinsic to the very nature of the corporation, compounded by multiple layers of methodological complexities. Ultimately, the disentanglement of this enigma would require a pivotal reconceptualization of the corporate governance research agenda.     

Board of director efficacy and firm performance variability

While academic researchers continue to debate the effect of board independence in increasing performance, its efficacy could also be reflected in whether firm performance is made more stable. Board governance activities are a constellation of actions aimed at managing agency costs and ensuring the viability of a company over time. The efficacy of such actions would, therefore, be reflected in a distal outcome, specifically, in lower firm performance variability. Boards that can control agency costs and limit both underinvestment and overinvestment would reduce a firm's deviation from its mean performance trajectory. Using a longitudinal sample of publicly traded companies in the United States, we find that board stability, board resource provision, and CEO influence are negatively associated with performance variability. Board independence is not associated with performance variability. With increasing board independence, greater board stability and greater CEO influence are negatively associated with performance variability, however, greater board resource provision is not associated with performance variability.     

Reward the lucky? An experimental investigation of the impact of agency and luck on bonuses

We examine the impact of agency and luck on bonuses in a two player, two stage controlled laboratory experiment. In the first stage, Player A makes an investment decision on behalf of Player B. In the second stage, Player B makes a dictator allocation for each possible outcome from the investment. We compare dictator giving (bonuses) across outcomes and with a control treatment in which the stage 1 outcomes are determined randomly. We do not find that luck is rewarded with higher bonuses. However, we do find a general tendency to respond to agency with reduced bonuses and, in particular, a significant tendency to reduce bonuses to agents who are unlucky. Additionally, we find that those who are more risk tolerant are less likely to give no bonus under agency but not in the control.     

Post-crisis learning in public agencies: what do we learn from both actors and institutions?

Post-crisis learning is a challenge for public organizations, and especially for agencies which handle health and environmental risks. This article investigates how the Belgian Food Safety Agency settles mechanisms for drawing lessons from crises while ensuring day-to-day routine. The framework by Crozier and Friedberg is used as a guideline to consider both the actors and the system, both strategic games and institutional constraints. The article helps in understanding the institutional logics underpinning how the public organizations learn from societal risk and crisis. Centralization and openness appear to be guiding principles, resulting from the learning games. They also generate tensions that the actors’ games manage by defining new rules for cooperation. Both the practice (through our case study) and the theory (combining actors and institutions) broaden the lens of policy analysis for what policy-making at organizational level concerns.     

Navigating Identities: Subtle and Public Agency of Bicultural Gay Youth

Young people who discover their sexual attraction to people of the same sex often go through a period of ambivalence or distress, especially when they grow up in an environment that condemns homosexuality. The Dutch sociopolitical context makes the expression of same-sex desires among those with non-Dutch roots even more complicated and risky, as prevailing schemes of interpretation render the two identities incompatible. This study explores the expressions of same-sex desires and identities as well as the different forms of agency of bicultural gay youth. In-depth interviews with 14 young adults reveal how young people negotiate bicultural identities in Dutch society that brings to the fore complexities in managing diverse sexual identities and strong religious and cultural affiliations in tandem. Their strategies have the effect of questioning dominant discourses and transcend the oppositional dichotomy between sexual and ethnic forms of sociocultural otherness.     

保险业诚信缺失成因与治理

我国保险业诚信缺失的主要成因是保险业恶性竞争、只求经济效益、忽视社会效益,以及保险管理制度不健全,保险代理人素质偏低,同时某些投保人的道德风险也造成负面影响。针对这些成因,应该从培养保险诚信文化、加强队伍建设、健全制度诸方面,采取综合措施治理,提高保险可信度,推进我国保险业健康发展。     

论我国上市公司中代理成本的控制

章以传统委托代理理论为基础，具体分析了我国上市公司中以国家与国有股持股主体之间代理关系及代理成本为主的五种委托代理关系及相应的代理成本，并进一步提出优化产权结构、实行相关利益共同治理等五种控制代理成本的途径。