Organization governance form in franchising: efficient contracting or organizational momentum?

We examine firms' choice of organizational governance form. Using longitudinal data on a sample of business format franchisors operating in North America, we show that the cross‐sectional evidence commonly used to demonstrate support for efficient contracting explanations for organizational governance form is not robust to the year of investigation, firm effects, or selection effects. We theorize that this outcome may result from dynamic processes through which a firm's organizational governance form evolves. We develop and test two hypotheses for the effects of organizational momentum on organizational governance form, and find that organizational momentum is a robust predictor. Our results suggest that researchers consider the dynamics of momentum in explaining the form of firm governance. Copyright © 2008 John Wiley & Sons, Ltd.     

Corporate governance and environmental performance: is there really a link?

Corporate governance scholars are increasingly interested in firms' social and environmental performance. Empirical research in this area, however, has moved forward in an uncoordinated fashion, producing fragmented and contradictory results. Our paper seeks to address this situation by adopting a fact‐based research approach that comprehensively explores the link between corporate governance and environmental performance. Specifically, we aim to understand how the relationships between and among the firms' owners, managers, and boards of directors influence environmental performance. We are particularly interested in understanding the interactions among these three key sets of actors. In the end, we offer some observations about governance practices and discuss the implications for theory. Copyright © 2012 John Wiley & Sons, Ltd.     

For whom? – The governance of organic food and farming in the UK

The challenge of organic agriculture – that it might provide new forms of participation around food – has been hard to encapsulate in the conventional circuits of democracy. One answer to this ‘offer’ has been for consumers to purchase organic items as a way of demonstrating support for the organic sector. This paper argues that although this strategy may have been successful in the past, there is increasing evidence that there is a convergence between sections of the organic movement and the dominant multiple retailers. Through a wide range of evidence, including an analysis of how organic products are promoted and of how organic farm businesses are configured, this paper suggests that the potential of the organic movement is increasingly being circumscribed.     

Adoption and policy implications of Japan’s new corporate governance practices after the reform

In this paper we explain the process and policy implications of Japanese firms’ adoption of recently reformed corporate governance practices. We use a selective adaptation framework in doing so. We present some qualitative predictions about the possible outcome of their adoption process. One advantage of our approach is that we can describe various aspects of the evolutionary process of Japan’s corporate governance reform as a system in a consistent manner, rather than as independent pieces. Our predictions provide policy implications and are empirically testable. Japan’s post-bubble corporate governance reform has been extensive and involves the enactment and revisions of many relevant laws and affected institutions. Japan’s aim has been to install US-like practices (the de facto global standard), with these practices replacing the now tarnished bank-centered practices, and to facilitate Japanese industry in regaining global competitiveness. However, we show that Japanese businesses’ adoption of US practices has been selective and efficiency and other policy implications of such behavior are potentially dysfunctional.     

Are OECD-prescribed “good corporate governance practices” really good in an emerging economy?

This paper examines whether adopting OECD-prescribed corporate governance principles can solve the major corporate governance problem in an emerging economy—controlling-shareholder expropriation. We argue that “good governance practices” in OECD countries (e.g., an active board of directors, separation of chairperson and the CEO, significant presence of outside directors, and a two-tier board) cannot mitigate the negative effect of controlling-shareholder expropriation on corporate performance for two main reasons. First, most good governance practices are mainly designed to resolve conflicts between shareholders and the management but not conflicts between controlling and minority shareholders. Second, board directors are typically not independent to controlling shareholders, and supervisory directors often have low status and weak power in a firm. Using a panel of over 1,100 Chinese listed firms between 2001 and 2003, we find supportive evidence for our arguments. We discuss the implication of our study for public policy and strategies of investors.     

Reexamining the direct and interactive effects of governance mechanisms upon buyer–supplier cooperative performance

This study aims to explore the effect of governance mechanisms (including both formal and social controls) upon the buyer–supplier cooperative performance in supply chains. Empirical evidence obtained via a mail survey from 106 firms participating in the Taiwanese “Center Satellite Production System” indicates that (1) there is an inverted U-shaped relationship between formal control and cooperative performance; (2) social control has a consistent positive effect on cooperative performance; and (3) the joint use of formal control and social control could enhance cooperative performance in supply chains but only in cases with moderate usage of formal control. Otherwise, social control becomes a supportive factor that repairs cooperative performance damage from overwhelmingly applied formal control.     

How do country‐level governance characteristics impact the relationship between R&D and firm value?

This article addresses the question of how country‐level governance characteristics moderate the market valuation of research and development (R&D). Using a valuation model and panel data from companies in the European Union, United States, and Japan, we find that effective corporate governance allows the market to better assess a firm's R&D investments. This finding is the conjunction with the effect of the legal system, the financial system, and mechanisms of control. First, as effectiveness of investor protection increases, the market valuation of R&D projects also increases. Second, more developed financial systems do a better job assessing R&D. Third, effective control mechanisms reinforce the positive effect of R&D on a firm's market value. In sum, our findings shed light on how policymakers can increase the benefits from firms' R&D spending and thus foster economic growth and social welfare using these country‐level governance characteristics.     

Does R&D offshoring lead to SME growth? Different governance modes and the mediating role of innovation

Research summary : In this article, we address the role of R&D offshoring strategies in the sales growth of small‐ and medium‐sized enterprises (SMEs). We propose that different governance modes of R&D offshoring—insourcing versus outsourcing—may lead to growth, but that they differ in their effects. In turn, we argue that innovation mediates the relation between international R&D sourcing strategies and sales growth. Based on a large database of SME manufacturing enterprises in Spain, we find that offshore outsourcing positively affects sales growth both directly and indirectly, while offshore insourcing only affects sales growth indirectly via innovation results. The analysis reveals different contributions of each governance mode to sales growth and the mediating role of innovation in the relation between R&D offshoring and firm growth. Managerial summary : We analyze how different governance modes of international R&D sourcing—offshore insourcing and outsourcing—may contribute to growth in SMEs. Modes of offshore R&D outsourcing positively affect the growth of sales in two ways. One effect is direct, produced by improved efficiency, flexibility, enhanced resources, and access to new markets. And the other effect is indirect as offshore R&D outsourcing favors the achievement of innovations, and this in turn, positively affects firm growth. For their part, captive modes only exert an indirect effect. Offshore R&D insourcing contributes to the achievement of innovations, and thus, ultimately to firm growth in so far as these innovations enable SMEs to increase sales. Therefore, innovation results perform a mediating role in the relation between R&D offshoring and sales growth. Copyright © 2015 John Wiley & Sons, Ltd.     

Does having women on boards create value? The impact of societal perceptions and corporate governance in emerging markets

Many governments seek to impose gender equality on boards, but the consequences of doing so are not clear and could harm firms and economies. We shed light on this topic by conceptualizing the relationships as firm‐ and board‐specific and embedded within specific contexts. The theory is developed with reference to emerging markets, and tested on Malaysian firms. We find that female directors create value for some firms and decrease it for others. The impact varies across different performance indicators, firms' ownership, and boards' structure. The findings call for nuanced responses in relation to women's nominations from both governments and firms. Copyright © 2014 John Wiley & Sons, Ltd.     

需求,供给,互补性

应当建立一种广义的分析方法,适用于社会网络内人与人之间的经济关系, 并可推演出任一局域网内的任一种类的均衡。     

计划,市场,煤炭

如何根据计划经济与市场调节相结合的原则构造我们的经济运行机制和宏观调控体系,是我国经济改革中的一个重大研究课题。就煤炭工业来说,如何把计划经济与市场调节相结合的原则在实践中具体化,也是需要认真研究的重要课题。本文提出几点个人意见,与同行们共同探讨。     

过去,现在,未来

读罢2013年一月刊的《汽车观察》,那随处可见的＂爱我中国车＂的标示,还有整版整版的自主品牌汽车的报道,让我涌起了往日的回忆,也涌起了对未来的憧憬。汽车,曾经是我小时候一个遥不可及的梦想。我是七十年代末生人,在我小的时候流行的三大件是自行车、手表和缝纫机。在我上小学的时候,有一次无意中听到广播里面介绍美国底特律汽车工人的生活,说每家都有汽车,每天从郊区开车上班,周末开车带家人出去游玩。     

苯酚,丙酮,双酚A,异丙醇市场走势分析

介绍苯酚、丙酮、双酚Ａ、异丙醇的国内外价格现状及走势分析。     

激情,亲情,温馨四溢

我用这样一个题目，记述一位人物，一位企业的老板———山东烟台牟平农机有限公司董事长兼总经理王涛同志。凡到过这个公司的人，都会感觉到与其他企业不同的氛围，这里到处洋溢着激情与温情。员工们具有强烈的事业心、使命感和献身精神，谁也不甘落后，总是比着干；而人与人之间互相谦让、关爱，融洽的像一个大家庭。一个企业的面貌，是企业理念的体现，是企业文化的反应。牟平农机有限公司这种处处充满激情，亲情，欣欣向荣的面貌，正是公司经营者治理的结果，是其思路的体现。王涛经理，５０出头。中等身材，稍显修长，走起路来轻健稳重…     

转换机制,苦练内功,效益显著

转换机制，苦练内功，效益显著吉林铁合金厂我厂近两年通过转换经营机制，苦练内功，经济效益超常发展，克服了产品滞销、资金紧张、成本上升的三大难题。实现了利税大幅度增长，１９９２、１９９３年利税分别比上年增长５．３％和３１％，１９９３年利税第五次突破亿元大...     

质量,市场,经济效益分析

通过对质量，市场，经济效益三者关系分析，从提高产品质量的重要性出发，阐述了军工企业今后庆走市场经济之路。为改变军工企业的运行机制，扭转企业亏损局面，必须以优越的产品质量去占领市场，才能促进经济发展，才能获得好的经济效益。     

一言兴邦,一言丧邦,不可不慎

讨论国家大政应当有科学的态度,不可意气用事,更不宜炒作赚眼球。