外部董事制度初探

外部董事制度是西方公司治理结构中一项重要的制度。独立的外部董事，可提高董事会的独立性，加强对经营者的监督，协调内部董事之间可能出现的冲突，特别在防止控股股东利用关联交易损害公司及中、小股东利益方面，外部董事制度具有重大意义。外部董事制度还具有提高股东财富，减少财务报告舞弊等作用。外部董事制度应解决好薪酬、独立性、比例等问题，为了完善我国上市公司治理结构，减少内部人控制现象，保护投资者利益，有必要引入外部董事制度。     

完善我国上市公司独立董事制度的思考

大股东控制董事会。我国现有上市公司已逾千家，由于上市公司中国有股和法人股占较大比重(约占2／3)，大多数董事由第一大股东派出，因而导致大股东事实上控制了董事会，大部分权限集中于以大股东为核心的利益集团，董事会集体决策流于形式，当公司利益与大股东利益发生矛盾时，通常倾向于保护后者的立场，中小股东的利益难以得到保护。在这种情况下即使引入独立董事制度，也很难发挥其应有的作用。     

上市公司独立董事存在问题分析与对策研究

今年以来,随着某些大股东利用控股地位,控制董事会,大搞关联交易,严重损害了上市公司和中小股东的利益。为此,建立和完善上市公司治理结构与独立董事制度的呼声也越来越高。5月31日,中国证监会发布了《关于在上市公司建立独立董事制度的指导意见》的征求意见稿,独立董事制度成为人们关注的对象和舆论的焦点。在上市公司引入独立董事制度,对于发挥独立董事的制衡和监督作用,完善上市公司治理结构具有重要的现实意义。     

我国上市公司董事会各类董事剖析

上市公司是现代企业制度建设的典范 ,如何使上市公司走上良性循环的发展道路 ,是企业改革的重中之重。本文从沪市 6 72家上市公司 2 0 0 2年年度报告的分析入手 ,对我国上市公司董事会的规模、董事会构成中各类董事地位等几方面进行研究 ,并针对问题提出一些看法和建议。一、董事会构成分析的概念界定在进行董事会各类董事所占比例分析前 ,先对董事会的董事分类进行概念界定。在董事会构成分析中 ,将董事会成员按类型细分 ,即分为高管、控股股东、非控股股东、一般董事、独立董事等五类董事。高管指既为董事会成员 ,又在上市公司的管理层任…     

如何使独立董事独立

根据我国证监会《关于在上市公司建立独立董事制度的指导意见》(以下简称《指导意见》)中的相关规定,独立董事可由上市公司董事会、监事会、单独或者合并持有上市公司已发行股份1%以上的股东提名产生.     

独立董事 监事会 董事会秘书 制度研究与实践探索

独立董事、监事会和董事会秘书在上市公司治理中起着核心作用,为促使其在现有制度框架下更好地发挥作用,上海证监局和上海上市公司协会对上海辖区独立董事和董事会秘书的履职情况及监事会运作情况进行了调研,并成立了公司治理系列实证课题组,以实证分析的方法完成了独立董事、监事会、董事会秘书三个课题研究报告。     

独立董事 监事会 董事会秘书 制度研究与实践探索

独立董事、监事会和董事会秘书在上市公司治理中起着核心作用,为促使其在现有制度框架下更好地发挥作用,上海证监局和上海上市公司协会对上海辖区独立董事和董事会秘书的履职情况及监事会运作情况进行了调研,并成立了公司治理系列实证课题组,以实证分析的方法完成了独立董事、监事会、董事会秘书三个课题研究报告。     

独立董事 监事会 董事会秘书 制度研究与实践探索

独立董事、监事会和董事会秘书在上市公司治理中起着核心作用,为促使其在现有制度框架下更好地发挥作用,上海证监局和上海上市公司协会对上海辖区独立董事和董事会秘书的履职情况及监事会运作情况进行了调研,并成立了公司治理系列实证课题组,以实证分析的方法完成了独立董事、监事会、董事会秘书三个课题研究报告。     

独立董事 监事会 董事会秘书 制度研究与实践探索

独立董事、监事会和董事会秘书在上市公司治理中起着核心作用,为促使其在现有制度框架下更好地发挥作用,上海证监局和上海上市公司协会对上海辖区独立董事和董事会秘书的履职情况及监事会运作情况进行了调研,并成立了公司治理系列实证课题组,以实证分析的方法完成了独立董事     

独立董事 监事会 董事会秘书制度研究与实践探索

独立董事、监事会和董事会秘书在上市公司治理中起着核心作用,为促使其在现有制度框架下更好地发挥作用,上海证监局和上海上市公司协会对上海辖区独立董事和董事会秘书的履职情况及监事会运作情况进行了调研,并成立了公司治理系列实证课题组,以实证分析的方法完成了独立董事、监事会、董事会秘书三个课题研究报告。本书将这三个课题研究报告及10篇最佳实践案例一起汇集成书。系列报告分为独立董事制度研究     

千亿挑战

越是接近顶峰,越是无限凶险。1995年,《财富》杂志开始将所有产业领域的公司纳入其"世界500强"评选范围,这本杂志当时并不知     

代理问题、公司治理与企业价值--以民营上市公司为例

本文运用代理理论对2002年在上海、深圳证券交易所上市的122家民营上市公司治理与企业价值进行理论分析与实证检验,发现民营上市公司治理包括在股权集中度、债务融资比重、金字塔式控股、控制权与现金流权偏离、流通股与非流通股价偏离等五个方向上存在着代理冲突,并指出引发民营上市公司代理冲突的首要原因是现行流通股与非流通股的股权割裂。     

供电企业岗位薪酬一体化建设方案分析

供电企业现行劳动用工方式存在弊端，提出了健全薪酬分配激励机制——统一的岗位和薪酬管理体系的思路和方法，实现变身份管理为岗位管理、打通员工成长通道，促进企业和员工和谐健康发展，解决供电企业用工矛盾，化解企业用工风险。     

Takeover defenses,innovation, and value creation: Evidence from acquisition decisions

The desirability of antitakeover provisions (ATPs) is a contentious issue. ATPs might enable managerial empire building by insulating managers from disciplinary takeovers. However, some companies, such as “hard‐to‐value” (HTV) companies, might trade at a discount due to valuation difficulties, thereby exposing HTV companies to opportunistic takeovers and creating agency conflicts of managerial risk aversion. ATPs might ameliorate such managerial risk aversion by inhibiting opportunistic takeovers. This paper analyzes acquisitions made by HTV firms, focusing on whether the acquirer (not the target) is entrenched in order to examine the impact of entrenchment managerial decision making. The results show that HTV firms that are entrenched make acquisitions that generate more shareholder wealth and are more likely to increase corporate innovation, suggesting that ATPs can be beneficial in some firms. Copyright © 2013 John Wiley & Sons, Ltd.     

Resource Dependency,Innovative Strategies,and Firm Performance in BOP Markets

Low‐income markets have attracted the interest of academics, politicians, and business leaders alike. In recent years, numerous companies such as Unilever, Cemex, Tetrapak, and Vodafone have provided evidence that low‐income markets offer commercial business opportunities and that private companies can realize profitable business activities while simultaneously contributing to the alleviation of poverty. However, companies are challenged by constraining conditions such as poor infrastructure, nonexistent distribution channels, illiteracy, corruption, lack of enforceable legal frameworks, and violent conflicts when entering those markets. In order to succeed, companies develop new strategies, introduce innovative business models, and develop novel capabilities. Three innovative practices are commonly named in the literature that should enable companies to operate successfully in low‐income markets: (1) integrating the local population and local entrepreneurs to cocreate products; (2) cooperating with nontraditional or fringe stakeholders; and (3) building local capacity, which means improving the market conditions of low‐income markets. This study applies a resource dependence perspective as it provides valuable explanations on the interaction between companies and their environment, how companies cope with environmental constraints, and how the environment and different strategies affect business outcomes. By integrating a resource dependence perspective, the study theoretically frames the strategic recommendations of the literature and answers the underlying research question of whether environmental conditions of low‐income markets cause the execution of innovative practices and whether such practices influence the outcome of companies operating in low‐income markets. The research hypotheses are tested in a structural equation model against data of 103 firms operating in low‐income markets. The study reveals that companies integrate local actors to cocreate products and cooperate with nontraditional and fringe stakeholders to reduce resource dependency. Local capacity building, which means improving the local environment, is only applied by companies when strong partnerships with nontraditional and fringe stakeholders are established. Finally, the study shows that partnerships with nontraditional and fringe stakeholders as well as local capacity building have a positive effect on organizational performance. Thus, when companies aim to enter low‐income markets, they should not follow the recommendation of the transaction cost theory and internalize resources, but rather cooperate with nontraditional partners and invest in the local environment. Moreover, the study shows that market entries into low‐income markets require long‐term commitments to engage in partnerships with regional authorities, local community groups, and nongovernmental organizations. Without these partnerships, it is not possible to reduce high resource dependencies and to establish successful businesses in low‐income markets. Thus, governments should create general conditions that facilitate the creation of partnerships between nontraditional actors and companies, and assist them to improve environmental conditions in these markets.     

The influence of intellectual capital on organizational performance—Knowledge management as moderator

The main objective of this study is to explain the global performance of firms from an intellectual capital perspective. Samples were selected from a list of the top 1,000 Taiwanese companies using a type of purposive sampling. The selection criteria required sample companies to be located in Taiwan and to compete globally. This study collected 146 valid questionnaires from 146 companies. The results confirm that intellectual capital is positively associated with a firm’s global performance. The results also confirm a moderating effect of knowledge management strategy on the relationship between intellectual capital and global performance. These results imply that a combination of the right type of knowledge management strategy with the right form of intellectual capital will enhance a firm’s performance, although neither the technology-centered nor the people-centered approach should be overused.     

代管县级供电企业强化管理若干举措的探讨

针对当前县级供电企业体制改革情况及管理现状,分析了代管县级供电企业改革和管理中存在的问题和矛盾,提出了巩固和深化体制改革,强化管理,提升企业效益的若干举措。在妥善处理与地方政府的关系的前提下着重强化代管现状下的第一责任地位;开拓电力市场、夯实财务基础管理、坚持依法治企。     

Is this workplace bullying? How ideas about conflict shape conflict management strategies

The adoption of specific conflict management strategies has usually been linked to various factors, such as litigation avoidance, union substitution and the pursuit of strategic benefits. This study advances the hypothesis that actors’ different frames of reference impact how workplace conflicts are interpreted and managed by unions and employers. Drawing on original data from the Brazilian banking sector, this article shows that companies and unions have different interpretations of workplace bullying. Unions understand workplace bullying as an organizational or sectoral problem inherent to labour relations in the banking sector. In contrast, employers see workplace bullying as a problem caused by individual managers. These different understandings of the same type of conflict are shaped by each actor's frame of reference and influence their responses to workplace bullying. With a pluralist or critical frame of reference, unions favour conflict management tools that try to promote structural changes in the sector. With a unitarist frame of reference, employers try to transform individual behaviour or simply remove individual managers from the workplace. Therefore, organizations with a unitarist frame interpret and respond to conflicts in notably different ways from organizations holding a pluralist or critical frame of reference.     

Model-supported business-to-business prospect prediction based on an iterative customer acquisition framework

This article discusses a model designed to help sales representatives acquire customers in a business-to-business environment. Sales representatives are often overwhelmed by available information, so they use arbitrary rules to select leads to pursue. The goal of the proposed model is to generate a high-quality list of prospects that are easier to convert into leads and ultimately customers in three phases: Phase 1 occurs when there is only information on the current customer base and uses the nearest neighbor method to obtain predictions. As soon as there is information on companies that did not become customers, phase 2 initiates, triggering a feedback loop to optimize and stabilize the model. This phase uses logistic regression, decision trees, and neural networks. Phase 3 combines phases 1 and 2 into a weighted list of prospects. Preliminary tests indicate the good quality of the model. The study makes two theoretical contributions: First, the authors offer a standardized version of the customer acquisition framework, and second, they point out the iterative aspects of this process.     

America's fastest risers

Swift exploiters of change, the 100 companies that make up this new Fortune list attest to an entrepreneurial spirit undiminished by the weak U.S. economy. They owe their success largely to two often-touted but seldom followed managerial practices: putting the customer first and moving with relentless speed and adaptability. Old-line giants had better learn from them--or watch out.