基于集体主义的企业科技向善：逻辑框架与竞争优势

新冠疫情对经济及社会运行造成了重大冲击,除了履行慈善捐赠等传统社会责任行为,一些企业还通过科技创新与善意的产品供给抗击疫情,企业与社会的融合互动更加紧密,据此引出企业科技向善概念。通过厘清企业科技向善概念,梳理了企业科技向善与竞争优势的关系,讨论了企业科技向善的未来研究方向,从企业与社会关系角度丰富和扩展了企业战略管理研究,并为企业管理实践与政府监管提供了新视角。     

Optimal corporate strategy under uncertainty

Within a dynamic setting, optimal corporate strategy management for a multi-division corporation involves restructuring a portfolio of Strategic Business Units (SBUs) periodically so as to maximize the firm's market value. Real option theory has been applied to model and explain managerial flexibility for both project selection and operational decisions. In general, optimal corporate strategy has focused on strategic environments and characteristics of business units rather than on managerial flexibility. In this article, we develop a feasible discrete-time model for optimal corporate strategy that incorporates both endogenous and exogenous factors and is consistent with the value-based criterion for maximizing shareholders’ wealth.     

发达国家低碳管理的经验借鉴及其启示

基于低碳经济是全球公共品的共识，低碳发展或将成为世界未来经济发展的新规则。在推进低碳经济的进程中，美国、日本和欧盟等发达国家政府充分发挥和强化低碳管理的作用，明确战略目标、完善法律框架、加强制度建设、实行优惠政策、利用市场机制、推动科技创新，这对我国完善政府的低碳管理行为，推进低碳发展有着重要的参考作用。     

Determinants of privatization of public corporations: evidence from the Japanese experience

The main purpose of this study is to find factors affecting privatization decisions. This study investigates the determinants of privatization by applying the probit model for a data set of special public corporations in Japan. In December 2001, the Japanese government made a resolution to consider the privatization of special public corporations, evaluating 74 special public corporations for possible privatization. In the empirical analysis on the determinants of privatization, we find that among several factors affecting privatization decisions, two are important—the market condition factor and the policy/regulation factor. As for market conditions, a public corporation which exists in a commercialized industry is about 20% more likely to be privatized than others. As for the policy and regulation factor, the public corporation’s privatization under a single regulator is about 25% more likely, compared with the public corporation’s privatization under multiple regulators.     

Financial Structure and Corporate Behavior in Japan and the US: insulation versus integration with speculative pressures

This paper examines the impact of speculative financial markets on corporate behavior under the Japanese and US financial systems. While both countries experienced speculative financial booms during the 1980s, real sector corporate decision making was relatively insulated from such activity in Japan by its bifurcated capital markets: high-turnover trading of much equity coexists with another segment in which large blocks of firms equity and debt are held long term, by capital suppliers who are strategic business allies. In the American system, in contrast, fluid and impersonal stock trading leaves firms vulnerable to the impact of short term price movements. This avenue for speculative financial market pressures has militated toward reduced time horizons and financial ratio-based decision criteria in the US corporate sector. The main implication is that mechanisms must be found for insulating American corporate decision making from speculative pressures. Rather than attempting to mimic the undemocratic role played by banks and other buysiness insiders in Japan, US policy makers should achieve a similar insulating effect by vesting more power in corporate constituences other than shareholders—especially employees. An approach built around ‘democratic stakeholder governance’ is proposed.     

经济全球化的空间效应——论基于企业网络的地域空间结构重组

企业是地域空间结构重要的微观基础，在经济全球化过程中，企业网络通过对企业管理费用、交易费用和不对称信息状态的影响成为地域空间结构重组的重要力量，其空间效应有多种结果，在经济全球化的条件下，空间经济政策的主要内容包括从制度，区位和心理预期等方面实施基于企业网络的策略性行动，并综合利用市场机制，政府规划，企业网络和公众的力量进行地域空间结构优化。     

Economy as Instituted Process: Change,Transformation, and Progress

During the past two decades, chronic fiscal deficits have led to elevated and rising ratios of government debt to nominal GDP in Japan. Nevertheless, long-term Japanese government bonds' (JGBs) nominal yields initially declined, and have since stayed remarkably low and stable. This is contrary to the received wisdom which holds that higher government deficits and indebtedness will exert upward pressures on nominal yields. This paper examines the relationship between JGBs' nominal yields and short-term interest rates, as well as other factors, such as low inflation, persistent deflationary pressures, and tepid growth. We also argue that Japan has monetary sovereignty, which gives the Japanese government the ability to service its debt, and enables the Bank of Japan (BOJ) to keep JGBs' nominal yields low by ensuring that short-term interest rates are low, and by using various other tools of monetary policy. The argument that short-term interest rates and monetary policy are the primarily drivers of long-term interest rates follows John Maynard Keynes's (1930) insights.     

日本的政治经济特点及战略取向

从长期来看，日本是一个有战略的国家，其发展战略一直都是非常清晰的。从短期来看，日本的基本战略依然是在中国和美国之间左右逢源，从美国获取安全利益，同时从中国汲取更多产业利益，使其在中国获得的产业利润最大化。日本回归亚洲是大势所趋。一方面90年代以后日美矛盾在暗中激化；另一方面金融危机后，以亚洲市场为中心展开全球性的竞争成为各国共识，日本回归亚洲也非常积极；从货币的币缘战略角度看，日本也有必要回归亚洲，并与中国一道构建区域货币即亚元。而日本回归亚洲的方式，基本是按照海路在走。     

世界汽车产业发展趋势与中国汽车产业发展战略

在汽车产业全球化过程中,美日欧汽车产业表现出一种三极化趋势。在三极化格局下,由于利益的多元性,策略性技术联盟亦成为汽车产业的一个重要组织特征。中国在与美日欧相同人均GDP水平时,汽车拥有量和市场规模均在下限,是潜在的"汽车超大型国家",开拓和利用这种比较优势,完全有可能通过动态发展形成竞争优势。实现这个目标,关键在于要有一个正确的国家战略,从根本上解决中国汽车产业的企业制度创新,形成规模经济,实现产业跨越发展。     

Chronic Deflation in Japan

Japan has suffered from a long‐lasting but mild deflation since the latter half of the 1990s. Estimates of a standard Phillips curve indicate that a decline in inflation expectations, the negative output gap, and other factors such as a decline in import prices and a higher exchange rate all account for some of this development. These factors, in turn, reflect various underlying structural features of the Japanese economy. This paper examines a long list of these structural features that may explain Japan's chronic deflation, including the zero lower bound on the nominal interest rate, public attitudes toward the price level, central bank communication, weaker growth expectations coupled with declining potential growth or the lower natural rate of interest, risk‐averse banking behavior, deregulation, and the rise of emerging economies.     

Strategic management: The state-of-the-art and beyond

A study of 25 major corporations assesses the state-of-the-art in strategic planning, and explores future prospects for developing a more powerful form of strategic management to cope with the transition to a new economic era. Current planning practices show that large corporations have developed complex strategic information systems, a decision-making process that is inherently organic, and planning operations that embody cybernetic principles. However, the prevailing approach to strategic planning is severely limited because it is based upon an old model of corporate management that has become outmoded: a restricted focus on hard technology leaves critical soft issues unresolved, authoritarian hierarchies produce the typical disadvantages of bureaucracy, and a closed-system orientation isolates the firm from its environment. New approaches to business management seem to be evolving now to overcome these constraints: the frontier of economic progress is shifting to a new form of soft growth, organizational structures are being transformed into entrepreneurial networks, and the institutional role of business is expanding to include its external constituencies. These trends represent key features of a new model of strategic management—the “strategically managed corporation”— that is specifically suited for fostering strategic change.     

企业捐赠促进非营利组织发展的研究

非营利组织的兴起在社会中发挥着重要的功能，但随着政府资助的减少和公众对非营利组织要求的增加，非营利组织不得不寻求从企业获得更多的捐赠。采用梳理和整合相关文献的方法，归纳出企业捐赠行为对非营利组织发展的三方面促进作用：提供筹资渠道、促进有效运作和管理、提升组织知名度。     

The boundaries of firms in the new economy: M&As as a strategic tool toward corporate technological diversification

Following the dynamic capabilities approach, we understand the recent wave of M&As as a corporate strategy mainly stimulated by the increasingly complex and uncertain techno-socio-economic environment in which firms operate. In this new situation, the boundaries of firms are in greater flux since firms are unable to develop individually all the competencies required to keep pace with the continual redefinition of business lines being driven by corporate competition. Using US patents granted to the world's largest firms, this paper analyses the dynamics of the sectoral specialisation of corporate technological profiles following large shocks that require some M&A deal. The findings of the analysis enable us to evaluate the adoption of M&As as a strategic tool to reshape corporate technological boundaries. On these grounds, we are able to identify patterns of technological diversification into strategic fields according to different models of industrial technological development.     

日本吸引海外人才的政策与措施

近年来,为了应对国际人才争夺日益激烈的形势,日本官、产、学、研紧密合作,大力实施国际化人才战略,积极吸引国外科技人才,使得日本成为继美国之后全球最大的人力资源消费国和受益国。与美国依靠留学生、移民和工作签证三大法宝在激烈的国际人才竞争中制胜相比,日本政府积极研究和借鉴发达国家吸引人才的政策举措,积极吸引外脑,以大学国际化为重点加强环境建设,官产学联手充实留学生政策,鼓励优秀留学生在日就业等措施,力争聚集全球优秀人才。从高龄少子化、人口减少的国情出发,大力扩大留学生数量、有效放宽工作签证限制以及借助跨国公司在新兴国家大量吸收优质廉价科技人才将是日本吸引国际人才的长期方针。日本新一轮的吸引海外留学生及留住优秀留学生的政策能否收到预期成效,如何采取进一步的吸引人才措施,以及日本企业强化争夺国际人才的战略部署,都值得关注。     

基于“IO-TL”模型的公司多元化逻辑

本文从现有多元化争论现象出发,分析了公司多元化诱因,阐述了多元化影响因素,在此基础上构建公司多元化产生的“IO-TL”模型,随后从动态视角深入分析了多元化“IO-TL”模型,并推理出公司多元化逻辑:公司多元化行为由公司所面临的行业秩序和自身的技术水平状况共同决定,短期内,公司最优多元化程度是存在的、稳定的;从长期来看,公司最优多元化程度随公司所面临的行业秩序和自身的技术水平发展而不断变化     

US Hegemony and the Origins of Japanese Nuclear Power: The Politics of Consent

This paper deploys the Gramscian concepts of hegemony and consent in order to explore the process whereby nuclear power was brought to Japan. The core argument is that nuclear power was brought to Japan as a consequence of US hegemony. Rather than a simple manifestation of one state exerting material ‘power over' another, bringing nuclear power to Japan involved a series of compromises worked out within and between state and civil society in both Japan and the USA. Ideologies of nationalism, imperialism and modernity underpinned the process, coalescing in post-war debates about the future trajectory of Japanese society, Japan's Cold War alliance with the USA and the role of nuclear power in both. Consent to nuclear power was secured through the generation of a psychological state in the public mind combining the fear of nuclear attack and the hope of unlimited consumption in a nuclear-fuelled post-modern world.     

The Political Economy of the Global Environment

Issues of the ‘global commons’ have secured a prominent place in environmental discourse. The temperature-regulating functions of the global atmosphere and radiation control functions of stratospheric ozone offer clear examples of true public goods. Other environmental assets, such as biodiversity and forests, are treated as if they are public goods, but in reality are complex mixtures of private goods, local public goods and global public goods. The approach to the provision and protection of these goods has tended to focus on the development of international agreements, such as those at the Rio de Janeiro ‘Earth Summit’ in 1992. But do these agreements contain the relevant incentives to conserve the global commons? Much depends on one's view of human nature. The Scottish economic tradition suggests that unless incentives focus on ‘self love’, as postulated by Hume and Smith, improvements will, at best, be marginal. A richer array of policy measures is obtained by analysing the potential for ‘global bargains’, trades that improve the environment whilst making each party better off. The souls of Hume and Smith surely approve recent developments in practical global bargains.     

Securities laws in the host countries and the capital structure of US multinationals

We examine whether securities laws in the host countries influence the capital structure choice of United States (US) multinational corporations. We develop firm-level global indices to classify each corporation in terms of its exposure to the security laws that govern the rights of security holders in the countries where it has subsidiaries. The results show that the use of long-term debt is positively related to the firm's global standing in terms of common law legal origin, burden of proof, investor protection, disclosure requirements, and public enforcement. The securities laws in a country affect the capital structure of multinational corporations that has subsidiaries in that country.     

开放式创新视角下公司孵化器运营模式探索性研究

国内商业孵化器运营模式研究多聚焦于独立孵化器,缺乏对企业内部公司孵化器的系统性分析。由于两者之间差异明显,因此有必要通过进一步研究厘清后者的运营模式。基于孵化器运营模式的基本原理,明确了公司孵化器运营模式的分析框架及核心要素,从开放式创新视角深入探析了公司孵化器运营模式。结果表明,可将公司孵化器运营模式归纳为4种类型,企业应根据自身创新战略和技术禀赋选择合适的公司孵化器类型。     

日本对华直接投资决定因素的实证研究

运用计量模型,以1986-2007年的统计数据为基础,选取中国国内生产总值、中日双边贸易量、人民币实际汇率和中日两国实际工资差异为解释变量,针对日本对华直接投资进行实证分析,结果显示:国内生产总值、中日双边贸易量和实际汇率与日本对华直接投资正相关,实际工资差异与之负相关,且各变量均影响显著.