党组织参与治理对上市公司慈善捐赠的影响

利用我国A股非金融类上市公司2008—2017年数据，采用“双向进入”、“交叉任职”两个指标衡量党组织参与企业治理的情况，实证检验其对企业慈善捐赠行为的影响。结果发现，党组织“双向进入”和“交叉任职”与企业是否捐赠、捐赠水平均呈显著正向关系。此外，上述作用在国有企业与非国有企业中均存在，但与中央国有企业相比，党组织参与治理对企业捐赠的促进效应在地方国有企业中更为明显。研究还发现，党组织参与治理对企业慈善捐赠的促进作用并不以损害企业价值为代价，反而会提高公司经营绩效和价值，并且党组织参与治理对企业捐赠的促进作用并非以获取更多的政府补贴为目的。研究表明，党组织参与治理促进了企业的捐赠行为，这一结论有助于进一步理解党组织在公司治理中的地位与作用。     

Adequacy of International Codes of Behavior

International codes of corporate behavior have been proposed, discussed, negotiated, and promulgated by governments, transnational corporations, and inter-corporate associations over the past few decades. It is not clear that they have been resoundingly as successful in changing corporate behavior – particularly as to corruption and environmental protection – as have national government requirements imposed on foreign enterprises and their own officials. This article arrays the many attempts to structure cooperative action to re-order corporate behavior on several dimensions – restrictive business practices, labor conditions, human rights, environmental production, and corruption. It then assesses the extent to which behavior has been changed and what techniques are more effective in making corporate behavior more ethical.     

企业捐赠行为与公司价值重构——基于公众价值观的分析

对现代公司而言,社会公众的道德诉求能否与公司经济利益相兼容,是企业捐赠行为研究中难以回避的一个重要问题。由于引入投资者效用函数使得公众利益与"股东"利益保持一致,因而可以通过建模从理论层面上探讨企业捐赠行为与实现公司价值重构的可能性及其相关条件。结果表明:虽然捐赠减少了公司的现金流量,但投资者的价值认同使其在资本市场上依然能够实现较高的公司价值。因此,公众价值观的偏好程度及投资者对公司的溢价激励直接决定了公司价值的高低,即企业捐赠存在的合理与否。而培育理性的公众价值观是实现这种激励的重要保障。     

基于帕累托最优的京津冀旅游企业合作路径选择

区域旅游企业合作已经成为提高区域旅游的竞争力,是改善区域旅游总体形象,实施区域旅游业持续、健康、快速发展的重要途径之一。现阶段,京津冀旅游企业合作有集团化和战略联盟两种模式。但因在合作中不能实现帕累托最优或改进,造成了京津冀旅游企业合作限于行政区域内合作和远距离合作为主,区域之间的合作结构松散,不能实现规模效应和范围经济。因此,政府在旅游企业因收益差距太大而不愿合作时,应该给予足够的政策引导及利益补偿机制,企业本身应对合作模式慎重选择,并建立合理的公司治理结构,共同推进合作创新,最终实现京津冀区域旅游业的可持续发展。     

政府驻地迁移与企业TFP：契机还是危机？

作为改变辖区空间布局的重要政府行为，政府驻地迁移有助于提高地区资源配置效率，但其对企业发展的影响尚不可知。基于此，文章在收集、整理中国地级市政府驻地迁移批示时间的基础上，结合中国工业企业数据库，实证检验政府驻地迁移的影响特征。研究发现政府驻地迁移显著促进了企业TFP提升，且这一影响与迁移距离存在正向关联。进一步分析发现政府驻地迁移具有一定“扶弱”倾向，在不利于高资本密集度、高补贴力度型企业发展的同时，有助于提升非国有企业TFP。文章研究结论在为地方政府驻地迁移管理提供参考的同时，也为理解政府在地区经济发展过程中所扮演的角色提供一个新视角。     

The impact structure of social capital on corporate performance: Empirical evidence from listed companies in China

Vertical relationships with the government, particular relational capital and organizational social network capital, constitute corporate social capital (CSC). Using the empirical data of 97 listed companies in China, this paper examines the impact of CSC on corporate performance, finds that CSC has a positive impact on sales revenue but an insignificant impact on the improvement of ROA. More specifically, when a firm enlarges its sales revenue, the function of organizational network capital is stronger than that of a particular relational capital and that of governmental connections. The paper also finds that state-owned enterprises (SOEs) have more advantages in using governmental connections, therefore leading to better social status than non-SOEs do, who have fewer advantages in using any particular relational capital. The article suggests that managers should appraise carefully the effectiveness of CSC, and combine it with other resources; firms should distinguish the structure of the impact of CSC on performance improvement in a dynamic way. With respect to the implication of this paper, it could help in analyzing firm behaviors in the transitional China. Translated from paper in International Symposium on Entrepreneur Research and Education, 2006, April (in Chinese)     

The Role of Multinational Enterprises in West African Regional Economic Integration

Abstract

Studies on regional economic integration in West Africa have concentrated on conventional accounts, which focused primarily on the activities of states and their agencies. The role and activities of actors who play a key function in the political economy of the integrating states and in the integration process are largely ignored or given limited attention. This paper contributes to a better understanding of the integration process in West Africa by exploring the role and the activities of multinational enterprises (MNEs) in the development and growth of the Economic Community of West African States (ECO-WAS). Further, this paper contends that MNEs are never passive in market integration. And through their membership in business associations, they participate in the creation, development and growth of the regional scheme. As the winds of economic liberalization and political reforms sweep across the West African subregion, it will become ever more crucial to forge partnerships between multinational enterprises and the host countries with the desire of fostering regional economic     

Board Members in the Service Industry: An Empirical Examination of the Relationship Between Corporate Social Responsibility Orientation and Directorial Type

One area of business performance of particular interest to both scholars and practitioners is corporate social responsibility. The notion that organizations should be attentive to the needs of constituents other than shareholders has been investigated and vigorously debated for over two decades. This has provoked an especially rich and diverse literature investigating the relationship between business and society. As a result, researchers have urged the study of the profiles and backgrounds of corporate upper echelons in order to better understand this relationship.There is ample evidence that corporations have in recent years increased the proportion of outside directors on their boards. This has been partly in reaction to increased interest in the corporate social responsiveness of business organizations and suggestions that the board of directors could play a unique role in this area. The expectation on the part of practitioners, researchers, and governmental regulators is that outside directors will advocate greater corporate responsiveness to society's needs by playing a more active role in overseeing managerial decisions.The purpose of this study is to partially fill a void in the literature by determining whether or not these expectations are justified, particularly in the service industry. Data were collected as part of a larger cross-national study of corporate social responsibility. A multivariate analysis of variance (MANOVA) of the results of a survey of 307 board members (198 outside and 109 inside directors) indicates that outside directors exhibit greater concern about the discretionary component of corporate responsibility and a weaker orientation toward economic performance. No significant differences between the two groups were observed with respect to the legal and ethical dimensions of corporate social responsibility. Some explanations as well as limited generalizations and implications are developed.     

Governmental Incentives for Corporate Self Regulation

This article presents an overview of traditional legal and regulatory incentives directed at achieving lawful corporate behavior, together with examples of more recent governmental incentives aimed at encouraging self regulation activities by corporations. These incentives have been differentiated into positive incentives that benefit corporations for actions that encourage or assist lawful behavior, and punitive incentives that only punish corporations for violations of legal or regulatory standards. This analysis indicates that traditional legal and regulatory incentives for lawful corporate behavior are overwhelmingly punitive in their intended effects, while more recent governmental incentives to encourage voluntary corporate self regulation are much more positive in their intended effects.A prototype private compliance system containing typical features specified in governmental incentives for corporate self regulation was then analyzed applying the same positive/punitive analysis that was performed with the governmental incentives. This analysis suggests that corporate compliance programs that are structured to comply with Department of Defense regulations for defense contractors or the new Federal Organizational Sentencing Guidelines will reflect the same overwhelmingly punitive balance of incentives for lawful and ethical employee conduct as do the traditional legal and regulatory incentive systems for lawful corporate behavior.Finally, the question of whether governmental incentives for corporate self regulation are succeeding was investigated by examining the behavior of the Fortune 1000 companies in enacting or revising corporate codes of conduct, an essential feature of every governmental-encouraged system for corporate self regulation, during the period 1960 to 1994. This data indicates a dramatic growth in the enactment of voluntary corporate codes of conduct by the Fortune 1000 companies in the period 1985–1994 that broadly parallels the growth in positive governmental incentives for such programs. In addition, several dramatic increases in code enactment and revision activity that occurred, coincide with specific governmental incentives for private compliance programs offered during that period.     

Dealing With Uncertainties When Governing CSR Policies

As corporate social responsibility involves a voluntary business endeavour to address social and environmental issues beyond legal compliance, governments cannot fall back on hierarchical command-and-control policies to support it. As such, it is complementary with the increasing popularity of public policies known as New Governance policies, where the government is engaged in a horizontal inter-organizational network of societal actors and where public policy is both formed and executed by the interacting and voluntary efforts from a multitude of stakeholders. However, such policies are known to generate substantive uncertainty about the content of CSR and its related issues, strategic uncertainty regarding the behavior of the actors involved and institutional uncertainty related to the interaction process involved in the institutional change. We explore New Governance policy instruments to address these uncertainties in the context CSR and discuss the experiences with these methods in the European Union. Jan Lepoutre is a Ph.D. candidate in Applied Economics at Ghent University, Belgium. In his dissertation, he focuses on the competences associated with small business social responsibility and networks as governmental means to build competences among small businesses. Nikolay A. Dentchev is an independent research fellow at Ghent University, Belgium, and a project coordinator at the corporate venturing department of Fortis Group (Fortis Venturing). He holds a Ph.D. in business economics from Ghent University. His current research is related to entrepreneurship, instrumental stakeholder theory, and management challenges of corporate social responsibility. Aimé Heene is a professor at the Faculty of Economics and Business Administration at Ghent University, Belgium. He teaches strategic management for private and public organizations and currently focuses his research on (competencebased) management in public and social profit organizations.     

扶贫的企业力量——来自中国上市公司扶贫效果的证据

随着扶贫攻坚进入新时期,以政府为主导的扶贫攻坚面临诸多约束与局限,亟须广泛动员社会力量,尤其是企业力量共同参与。为回答企业的扶贫参与是否有效,以及地区差异对其是否有影响,本文利用2010—2017年A股上市公司所发布的企业社会责任报告信息,对企业扶贫参与的效果进行了研究。研究发现:(1)西部地区的企业、与消费者直接接触的企业以及规模大、经营业绩好的企业更倾向于参与扶贫攻坚;(2)企业的扶贫参与有助于提高农村居民人均收入,且在欠发达地区,企业参与扶贫的效果更好。这表明以企业为代表的社会力量响应了国家精准扶贫的号召,履行了企业社会责任,确实有助于巩固脱贫成果,实现欠发达地区的脱贫。本文基于企业参与扶贫的视角,拓展了扶贫攻坚另一参与主体——社会力量的相关研究,同时也丰富了企业履行社会责任所带来的社会效益的相关文献。     

Retailers' management of corporate social responsibility (CSR) in their supplier relationships – does practice follow best practice?

The aim of this study is to further explore (a) the extent to which retailers deploy corporate social responsibility (CSR) best practices to ensure social and environmental sustainability in international supplier relationships and (b) the association between firm characteristics and the retailers' CSR activities in the supply chain. As a first step, the study identifies eight best practices based on earlier research and the authors' qualitative studies of IKEA. As a second step, a survey of Swedish retailers was conducted. The results of the study suggest that a significant amount of the actors in the Swedish retail sector do not follow the majority of best practice as outlined and discussed in this study. Furthermore, it is found that sector belonging has a considerable impact on the extent that a retailer follows best practice, while firm size and internationalization experience also have a significant, albeit limited, impact on retailer behavior.     

The Growth of Private Regulation of Labor Standards in Global Supply Chains: Mission Impossible for Western Small- and Medium-Sized Firms?

Multinational corporations (MNCs) have come under pressure to adopt private regulatory initiatives such as supplier codes of conduct in order to address poor working conditions in global supply chain factories. While a well-known literature explores drivers and outcomes of such monitoring schemes, this literature focuses mainly on large firms and has ignored the growing integration of small- and medium-sized enterprises (SMEs) into global supply chains. Furthermore, the literature on corporate social responsibility (CSR) in SMEs primarily emphasizes domestic initiatives and not global challenges. Focusing on the Business for Social Compliance Initiative (BSCI), this article examines the positions of private actors, who demand and supply private regulation as well as the positions of those firms, who are the targets of such schemes. As the BSCI has grown its membership, MNCs increasingly request that SMEs meet BSCI requirements in global supply chains even though compliance is a “mission impossible” for many smaller firms. As a result of this development, the private regulatory system is facing growing strain.     

利益相关者导向、企业文化与企业绩效的关系研究——以福建省内企业为例

文章首先探讨了企业文化对利益相关者导向与企业绩效关系的影响。然后,以福建省内企业为研究样本,运用结构方程模型（SEM）对利益相关者导向是否以及如何通过企业文化影响企业的绩效进行实证研究。结果发现,利益相关者导向对企业绩效没有显著的直接影响,但是利益相关者导向可以通过企业文化外部适应性和内部一致性行为活动对企业绩效产生显著的间接影响。     

Religion,the Nature of Ultimate Owner,and Corporate Philanthropic Giving: Evidence from China

Using a sample of Chinese listed firms for the period of 2004–2010, this study examines the impact of religion on corporate philanthropic giving. Based on hand-collected data of religion and corporate philanthropic giving, we provide strong and robust evidence that religion is significantly positively associated with Chinese listed firms’ philanthropic giving. This finding is consistent with the view that religiosity has remarkable effects on individual thinking and behavior, and can serve as social norms to influence corporate philanthropy. Moreover, religion and corporate philanthropic giving have a significantly weaker (less pronounced) positive association for state-owned enterprises than for non-state-owned enterprises. The results are robust to a variety of sensitivity tests. Our results highlight religious influence on corporate philanthropic giving in contemporary China, an old traditional country with a typical communist economy.     

国有大型企业境外上市动机的理论分析

有关国有大型企业境外上市动机的讨论已普遍引起关注。本文根据境外上市动机对大型国企境外上市影响的强弱,分别从委托代理理论、企业融资理论和区位经济理论角度探讨了国有大型企业境外上市的各种相关动机,期望能指导我国企业境外上市实践。     

论吴文化对苏南本土民营企业伦理观的影响

企业作为社会经济活动的主体,不仅具有经济性,而且具有社会性与伦理性的特点。在我国,企业伦理是随着改革开放而兴起并逐渐被理论界和企业界所重视的问题。企业伦理观的形成受很多因素的影响,其中区域文化是不容忽视的重要因素。吴文化是中华优秀文化的重要组成部分,是一个区域性明显、刚柔并济的文化,根植于此的苏南本土企业受吴文化的影响,形成了重义轻利、精打细算、外柔内刚、富国利民的伦理思想。新的发展时期,需要不断完善苏南本土民营企业伦理道德体系建设,提升苏南本土民营企业建设企业伦理的自主意识,塑造苏南本土民营企业行为文化和精神文化,健全苏南本土民营企业伦理评估机制,才能不断加强苏南本土民营企业社会责任意识,进一步推动苏南社会经济的发展。     

办作共生:区域创新能力的一个增长点

本文认为,区域创新网络的行为主体是企业、政府、大学与科研机构、中介组织等,培育区域创新网络要从网络行为主体出发,加强它们之间的联系与交流,完善网络的运行机制,推进行为主体的功能创新,从而提高整个区域创新网络的创新功能。嵌入性可以促进产业集群竞争力的提高,但过度的嵌入也会引致负面效应,应追求产业集群的“适度嵌入性”,即在加强集群内部联系的同时,必须注重同产业集群外部的联系。     

Reconciling CSR with the Role of the Corporation in Welfare States: The Problematic Swedish Example

This article uses the Swedish example to illustrate how corporate social responsibility (CSR) is understood and interpreted when it enters a welfare state context where social issues have traditionally been the domains of the state and of politicians. Among the implications one finds a relative scepticism of traditionally strong actors on the labour market, such as the state, trade unions and employers. This relative scepticism is primarily explained by an enduring idea of the role of business in society which stands in contradistinction to the idea expressed in the corporate centred idea of CSR. Still, CSR gains a foothold in the welfare state context, mainly because of the flexibility of the concept which allows for ‘escape routes’ – an understanding of CSR that focusses on issues at arm’s length from the traditional welfare context. CSR also benefits from being codified in soft regulation, thereby becoming a legitimate super- national point of reference for all relevant actors. The possibility of developing new global arenas for espousing ideals partly in conflict with traditional ones also explains why CSR has become an established concept. In Sweden, such arenas have been created through the activities of multinational corporations, NGOs, investors, the media, consultants and other actors.     

Not all family firms are equal: The moderating effect of family involvement on the political risk exposure of the foreign direct investment portfolio. Preliminary evidence from Spanish multinational enterprises

We investigate the effect of political risk (PR) exposure and family control on the internationalization strategy of multinational enterprises (MNEs) using social capital theory. Our results from a negative binomial cross‐sectional analysis in 2007 of Spanish MNEs show family ownership or the limited presence of family members on the board has no effect on internationalization. However, when the conceptualization of family firms (FFs) includes majority ownership and board presence, we find a direct negative effect on their internationalization scope but a positive moderating effect on the relationship between the exposure to PR and internationalization scope. FFs have some specific advantages suitable to be employed in their corporate political activity allowing them to develop long‐lasting relationships with relevant political actors. By disentangling the effects of family control on internationalization and PR, this article explains how FFs can be simultaneously risk‐willing and risk‐averse.