论跨国公司归核化与多元化的统一

近几年来，随着成本上升，成本竞争的加剧，国内企业开始关注跨国公司的归核化战略，并开始否定长期以来的多元化战略，本文通过对归核化和多元化战略的深入分析，认为多元化可分为相关多元化和不相关多元化，其中相关多元化是可以与归核化统一起来的，通过实施基于归核化的相关多元化，可以有效解决当前国内企业尤其是民营企业过度多元化的问题。     

我国企业多元化战略的误区与解决途径

企业受行业利润驱动的多元化短期行为，以及对多元化投资组合理论的简单套用，是多元化投资战略失败的主要原因。实施基于培育企业核心竞争力的“归核化”战略，以及从“多元化经营”到“多元化投资”的战略转变，是解决问题的途径。从长远看，“归核化”与“多元化投资”战略的融合，将成为我国大型企业走出多元化战略误区、谋求企业长远发展的必然选择。     

多元化与归核化战略转换及其价值效应

多元化和归核化是公司成长过程中相互转换的动态过程,本文将其置于同一框架内分析相互转换的影响因素及价值效应.运用多项Logit模型进行实证检验表明,多元化和归核化与公司特质和外部环境显著相关,产业利润率与多元化负相关,产业竞争性与归核化正相关.使用工具变量法控制多元化与归核化转换引起的联立性偏差后,笔者没有发现多元化折价和归核化溢价.     

资源学派的战略管理思想及其启示

资源学派的战略管理思想可概括为:构建企业竞争优势的重心应放在对稀缺资源和能力的整合和控制上;战略联盟是整合企业的资源与能力,形成战略优势的有效途径;确认战略成功的关键因素应当去寻找企业内部积累形成的特殊资源;企业竞争优势的保护要靠持续的创新能力;归核化是多元化发展的方向。根据资源学派的理论,结合我国企业的实际,本文提出我国企业的战略管理的理念应从“伺机而动”转向“量力而行”,通过技术创新能力和专利保护的战略互动机制构建企业可持续的竞争优势,把企业整合资源与能力的重点从战略并购转向战略联盟,鼓励和支持归核化的战略并购。     

旅游上市公司归核化经营实证研究

文章分析了311家中国A股旅游上市公司2003—2007年的面板数据,考察了影响公司归核化经营的五个因素,即多元化的管理水平、公司的绩效、高层管理人员的变更、股权的集中度和财务杠杆,最后得出的结论是:中国旅游上市公司在配置资源和赢得市场机会时,多元化依然是最主要的战略行为,中国旅游上市公司目前还未发展到多元化的普及阶段。处于过度多元化的边缘以下,旅游上市公司的多元化水平对企业的归核化决策没有明显的影响;而股权的集中却并不会由于高管的变更受到影响,反而会使其所有者快速地多元化扩张,以取得更大的效益;多元化的经营如果使公司绩效显著下降,公司就会采用归核化来使运营的风险降低。     

多元化公司的债务融资与公司投资行为浅析

中国的多元化经营虽然起步较晚,但是发展态势非常迅猛,尤其是最近几年,在发达国家企业"归核化"发展背景下,中国企业却维系了多元化发展的格局,对于多元化公司负债与公司投资行为关系的研究有助于企业经营管理人员全面、客观、理性地认识多元化发展战略。     

基于核心能力的适度多元化:企业成长与发展的方向

多元化一直是战略管理学界争论的问题之一.企业多元化扩张的失败案例使人们对多元化战略产生了质疑,"归核化"运动的兴起,这种质疑甚至误解更加严重.21世纪,企业所面临的内外环境将更加多变,专业化经营的风险不言而喻,当企业的资源和能力不能驾驭专业化所带来的风险时,多元化成为必然选择.但是,只有基于核心能力的适度多元化发展才能取得真正的成功,才能使企业在市场竞争中做到游刃有余,获得持久竞争优势.     

企业核心能力与多元化经营的结合模式

核心能力是企业最重要的资源 ,企业核心能力的数量和质量决定了其经营领域 ,尤其是多元化经营的广度和深度。文章详细分析企业成长中的多元化和归核化 ,给出了有效结合核心能力培养和多元化经营的模式。     

归核化——多角化经营业务的整合

一、归核化的成因剖析进入 2 0世纪 80年代以来 ,美国企业的多角化扩张开始退潮 ,并出现“反混合兼并”、“反多角化”的呼声 ,许多大公司开始把多角化经营业务同归于核心经营业务 ,这一现象被称之为“归核化”现象。在“归核化”的新潮影响下大公司纷纷以多种手段清理非核心业     

归核化理论及其对我国企业多元化经营的启示

文章认为“归核化理论”对中国当前企业多元化经营具有现实的指导意义。在运用此理论对中国企业当前多元化经营的现状进行分析的基础上,指出了我国企业进行多元化经营要注意的一些要点,最后还指出了此理论的缺失。     

Technology strategy in uk firms

This paper is a conceptual and empirical study of the problems that companies and managers face in formulating a 'technology strategy'. The main issues in technology strategy decisions can be charactented as having acquisation management and exploitation elements and an internal-external dimension. The research on which the paper is based aims to link and develop these elements within a wider conceptual context. It reports that, empirical results of one questionnaire and two interview surveys on technology strategy, as practised by UK companies and managers. The findings from the studies and their implications are discussed for the technology strategy itself for the significance of the company industry and technology setting; and-fir the underlying problem of how managers think about the firms technologies. The conclusion is that the problems of formulating a technology strategy are more deeply rooted than has previously been suggested.     

A strategy for organized technology

The aims of the paper are: (1) To define the concept of Organized Technology as a specific object of applied systems analysis; and (2) to explore some mutual needs in science-based strategies for organized technology as a specific objective of social management.     

绿色禁毒的新战略

在20世纪90年代末期，我有幸主持了国家社会科学基金课题“中国云南开展境外绿色替代发展禁毒工程效应比较研究”，并在新世纪到来的时候，将其成果总结后以《绿色禁毒的曙光》为书名公开出版。该项目研究的目的，在于总结中国云南20世纪90年代初以来的10年间，主动帮助境外缅甸北部和老挝北部罂粟种植区开展绿色替代种植和替代发展，大量减少鸦片种植面积及减轻相应的毒品生产对中国和世界危害的成效与经验，并用以同泰王国开展的长达30多年的王室禁毒工程、南美哥伦比亚等国依靠大国实施武力铲除毒源等禁毒模式进行效应与方法方面的比较，…     

纳税筹划与企业战略

纳税筹划作为企业财务战略的研究范畴,与企业战略联系密切。纳税筹划对制定与实施企业战略具有重要的影响,纳税筹划能够为企业节约税收成本,直接增加企业的净收益,有利于企业在发展中确立竞争优势,实现其战略目标。     

Bundling strategy and product differentiation

The existing literature shows that a decrease in the degree of substitutability increases a monopoly’s incentive to bundle. This paper in addition takes into account competition in the second product market and then re-examines how intra-brand and inter-brand product differentiations affect the incentive to bundle. In order to formally examine the above conjectures, this research builds up a two-firm, two-product model in which product 1 (monopoly product) is produced only by the bundling firm and product 2 (competing product) is produced by both firms. The analysis shows that under both Bertrand and Cournot competitions the incentive to bundle does not necessarily increase with the degree of intra-brand differentiation, while it strictly decreases with the degree of inter-brand differentiation. Moreover, under Bertrand competition bundling always decreases consumer surplus, but may increase the competitor’s profit and social surplus. Under Cournot competition bundling always reduces the opponent’s profit and social welfare, but may increase consumer surplus.     

数字产品及其定价策略

数字产品具有与传统产品不同的物理和经济特征，这就决定数字产品不适合采用边际成本定价策略，而更适合采用市场价值定价策略，主要包括个性化定价策略、群体定价策略、版本划分策略、转换成本与锁定策略。     

Defense planning and fiscal strategy

In this article, we consider the optimal fiscal strategy of a government interested in maximizing expected social welfare in the face of a potential future security threat. While the common wisdom is that countries facing security threats should seek to bolster their fiscal position in order to ‘save for a rainy day’, we find that the optimization of expected social welfare may require governments to run ‘precautionary’ fiscal deficits.     

A model of technology strategy

Technology strategy, a relatively new concept in management theory, describes how firms might use technology to gain competitive advantage. However, little practical information exists to assist firms in incorporating technological issues into the overall strategy of the firm. To counter this, a utilitarian, time-based model of the process of technology strategy has been developed. The proposed model links six technologially related tasks with decreasing time-frames, which are based on Jagues organizational constructs. Such time-frames reflect short-, medium-nad long-term future periods relevant to management decision-making and corporate development activites. The spectrum of tasks and time-frames are in the following ranges; setting horizons, beyond 20 years; industry forecasting, relating to the peirod 10-20 years ahead; technology positioning, 5-10 years; determining technology availability, 2-5 years; appropriating technology, between 1-2 years; managing technology, relating to the first year.In outlining these tasks and time-frames, it is argues that the six tasks are interrelated and should operate in parallel, in an iterative manner.