没人敢挑战他，会是个严重问题

像我刚才公开地批评俞敏洪（指其后悔上市的观点），就是新东方的精神，这就是坦诚。一言蔽之，新东方的精神文化有它独特的气味。对这个文化的认同包括，在这个团队中，你是不是敢于直截了当地挑战俞敏洪，俞敏洪是鼓励这个东西的。没有人敢挑战他了，这是个严重的问题。如果新东方内失去了那么一种碰撞文化，新东方离走向衰退就绝对不远了。如果美国没有国会，那美国不可能有今天。     

俞敏洪的自我管理

新东方英语学校的董事长俞敏洪认为一个领导者首先必须要有效地管理自己，并总结了几点经验。 第一，设定长远目标。在新东方之外，俞敏洪设立了三个长期目标。一是创办一所“两三千人、永远不扩招”的私立大学。     

俞敏洪幽默解尴尬

一次，新东方掌门人俞敏洪应邀来到同济大学演讲。其貌不扬而又不修边幅的俞敏洪一上台。就激起了场下一片“嘘”声。俞敏洪看看大屏幕上自己的巨幅头像，微笑着戏谑说：“没想到同学们把我如此‘高大’的形象放在大屏幕上，这就是理想与现实的差距（场下一片笑声）。我相信同学们看到我的第一眼一定感到非常失望。     

幸福的智慧——心境决定处境

俞敏洪如今广为人知的身份是商人，是新东方教育科技集团董事长，然而，他坐拥数十亿身家，却一直没放下自己“俞老师”的称呼和梦想。     

俞敏洪：难以复制的商业精神

俞敏洪为新东方树立了一个绝佳的“形象楷模”。这就是为什么许多培训机构可以复制新东方的课程、教学技巧,但是却始终无法复制新东方的精神     

改变的勇气

“新东方上市反而是对新东方发展的一个障碍”,这是6月14日北京飞马旅开幕中,新东方创始人兼董事长俞敏洪在飞马学堂公开课程中的一段话。     

俞敏洪的悲喜与中国知识产权保护的沉浮

就像2005年8月百度在美国纳斯达克挂牌上市后人们众星捧月般把李彦宏视为时代英雄一样,2006年9月7日新东方在美国纽约证交所上市后,俞敏洪一时间也被高举上天,“中国最富的老师”等称谓接踵而来─无数的学子记住了俞敏洪“只要活着,就是胜利”的名言,却淡忘了十多年前他刚创业时因人脉贫乏而醉酒后“我不想干了”的撕心裂肺的叫喊。比这些艰辛更令俞敏洪心酸的,其实是知识产权这一萦绕在他心头的创伤。5年前,美国教育考试服务中心(ETS)起诉新东方侵犯其著作权及商标权纠纷案闹得满城风雨,从一审败诉及被索赔1000余万元到二审减额,虽然新东…     

俞敏洪我要闭嘴

“我准备发一条微博．通知全社会：明年是我的闭嘴年。”俞敏洪说，他之所以耍闭嘴，是因为说得太多了。不久前，他做了一个统计，结果发现，作为新东方教育集团董事长兼总裁，2013年他投入到自己公司上的时间只有五分之一，其余五分之四的时间，都用在了对外应酬、社会活动、团队活动以及演讲上。     

中国最大的私立教育机构的梦想 俞敏洪 办非营利的私立大学

尽管一年前俞敏洪曾后悔“把新东方弄上市”，但他依然在这个冬天里保持着自信，“虽然全球金融风暴可能会减缓新东方的营收增速，但是公司仍将保持稳健增长。” 金融危机爆发之后，中国内地在美国和香港的上市公司平均跌幅达到60％-70％，而新东方的股价仅从75美元下滑至11月底的50美元左右，跌幅最小。     

俞敏洪：把自己的能量集中

“每天二十四小时都在想着所有新东方的事情，常常想不清楚，但每一件事情都谨小慎微、如履薄冰。”过去3个月问，这几乎是俞敏洪生活的常态。     

美国资本市场信息披露制度监管体系研究

本文重点研究了美国资本市场信息披露监管体系,认为严密完善的法律制度,严谨详尽的披露规则以及严厉明确的法律约束,是美国资本市场发展的重要保障。结合我国资本市场,笔者提出了健全信息披露法律法规体系,提高法规层次;充分发挥交易所信息披露的特有功能,尽早赋予交易所IPO发审权;强化法律责任约束,增强法律的威慑力,加大违规成本等建议。     

An Economic Analysis of Housing Abandonment

Landlord abandonment of rental housing has affected many American cities since the 1960's. Because of data limitations, there have been few empirical analyses of the determinants of housing abandonment. In this paper, we use a rich database that contains information on individual residential properties in New York City to estimate a reduced form model of owner abandonment. We model an owner's decision to abandon his or her property as being similar to an investor's decision to exercise a put option on a financial instrument. When required to pay delinquent taxes, a wealth-maximizing landlord has an incentive to cede ownership of his or her residential property when the value of all outstanding liens exceeds the property's market value. Estimates from the model are used to examine whether empirical evidence supports this option model of abandonment.     

商业银行市场风险管理中的VAR模型

巴塞尔新资本协议规定金融机构满足资本充足率的要求,并将风险分为信用风险、市场风险和操作风险。针对市场风险的管理,本文着重介绍VAR模型的概念、VAR的种类以及主要特点,并指出VAR面临的主要问题及其在我国金融应用的前景。     

首富兄弟阋于墙

坐在记者的对面，梁昭贤确实有点紧张，他的手心都开始冒汗了。为了掩饰这一点，梁起身到酒橱边取出一瓶葡萄酒，斟上了一杯。     

上市公司股利水平比较分析——基于石化行业的实践

本文对沪深股市石化行业股利进行分析后发现,石化行业上市公司的股利水平总体上高于国内股市的平均水平和欧美市场的整体水平,但低于亚洲市场的整体水平和整个国际市场的平均水平。从行业内部看,石化行业上市公司的股利水平因所在地区不同、股本规模不同、每股收益不同和负债水平不同而存在差异。经济较发达地区、股本规模较大、每股收益较高、负债水平较低的上市公司,其股利总体水平也较高。     

联想:最带劲的时刻

"坐二望一",联想可以站在行业最顶端俯瞰对手、挥斥方遒了吗?没有。这是身处IT行业的困境,从来没有任何一刻可以丢弃危机感。但是,联想在国际化深水区——文化磨合上的跋涉摸索,值得所有有国际化梦想的中国企业镜鉴     

Death of a Salesman and the Disillusionment of American Dream

The play is centered on one man trying to reach the American dream and taking his family along for the ride.The Loman’s lives from beginning to end are a troubling story based on trying to become successful,or at least happy.Throughout their lives they encounter many problems and the result is a tragic death caused by stupidity and the need to success.This play takes issue with those in America who place too much stress upon material gain,at the expense of other,more admirable human values.In this play,there is also a more general criticism of American values.In addition,this undue concern over material success breaks down the bonds between men that form the basis for a smooth-functioning society.The play addresses the painful conflicts within one family,but it also tackles larger issues regarding American national values,also examines the cost of blind faith in American Dream.The process of the character’s defeat was actually the course disillusionment of their American Dreams,aiming to reveal the American people’s dilemma of existence and the root causes of the tragedy.     

The sale of relational capital through tenure profiles and tournaments

In this paper, a specific form of human capital is analyzed, relational capital, which consists of matches between market parties. Search and information costs make these matches valuable to both parties. Its peculiarity is that the control over such matches is transferred within firms from those who initially control it to anyone who works with it for a period.This characteristic allows someone who approaches the end of his working life to sell his relational capital to junior partners. This sale can explain upward sloping tenure profiles and can result in tournaments if juniors are budget-constrained and perfect contracting is not possible. The need to keep the amount of relational capital constant implies a generational balanced workforce within each firm.     

Die Implementierung von Prüfungsausschüssen/ Audit Committees des Aufsichtsrats/Board of Directors mit unabhängigen und finanzkompetenten Mitgliedern

The agency- and stewardship theory attach great importance to the implementation of audit committees in the one tier- and two tier system. The mentioned theories can explain the corporate governance function of audit committees. In order to strengthen corporate governance, the job specification emphasises the independence and financial expertise of the committee’s members. The present article provides an overview of the historical development of audit committees and their normative affiliation in the German stock corporation law (two tier system). Moreover, their role as representatives of the one tier system in the US American capital market is being addressed. The results suggest more restrictive standards regarding the implementation and job specification of the audit committee at the US stock exchange (Sarbanes Oxley Act; New York Stock Exchange [NYSE], National Association of Securities Dealers Automated Quotations [NASDAQ]) than in the German stock corporation law (including the German corporate governance code). In addition to the normative analysis, the present paper provides a summary of results of existing, primarily US American empirical research with regard to the influence of audit committees on selected corporate governance indicators. The results show that the vast majority of the respective studies prove a significant correlation between audit committees and the restriction of earnings management, the identification and prevention of management failures and fraud with regard to the balance sheet, the external management reporting as well as the quality of the external audit. As a consequence of differing corporate governance systems, the results of the US American corporate governance studies can be applied only to a limited extend to the German two tier system. Monitoring by the capital market is even lower in Germany. In support of the respective empirical results and in order to strengthen corporate governance in the one tier system, future research is needed regarding the implementation of audit committees in the German two tier system.     

余俊雄：外企“活化石”

另类,是余俊雄给人的第一印象。见惯了客气到疏远、礼貌到淡漠的各种外企高管,听惯了各类滴水不漏、无懈可击的外交辞令,猛然见到这种自然、热情略带强势的“老顽童”风格,一时间让人略感愕然,尽管你会很舒服。