国有企业“债转股”政策:功能缺陷与制度依赖——项基于国有企业“债转股”政策跟踪调查的研究

伴随着我国经济体制改革向纵深发展,国有企业负债比率过高的问题更加突出显示出来。为了解决这个问题,我国实施了“债转股”政策。本文讨论四个命题:(1)国有企业是负债比率过高还是收益率过低;(2)“债转股”政策究竟是使国有企业“财务解困”还是“体制解困”;(3)“债转股”政策究竟是转移金融风险还是化解金融风险;(4)资产管理公司为国有企业和国有商业银行解困,将来谁为资产管理公司解困。本文认为“债转股”政策设计存在功能缺陷与制度依赖。国有企业“债转股”政策的成功依赖于国有企业(商业银行)现代企业制度的建立与完善。     

企业并购活动中目标企业选择的层次分析评估研究

企业并购是企业进行资本扩张、促进企业间存量资源合理统流动的重要途径。对企业并购中的目标企企的选择、价值评估进行研究，构建我国企业并前过程中目标企业选择的评价指标体系，运用AHP法对目标企业选择进行定量化评估，将有利于企业通过并购后，实现资源的最优配置．保证企业经营机制协调、有效地运行。     

R&D项目投资评估的实物期权方法初探

本文分析了传统的NPV法在R&D项目投资评估中的缺陷,指出R&D项目投资本质上所具有的期权特性。在此基础上引入了实物期权方法,包括Black-Scholes期权定价方法和Geske期权定价模型。     

Meta-analysis of the relationship between quality management practices and firm performance—implications for quality management theory development

Quality management (QM) has received a high degree of attention in extant literature. Several research papers attribute superior firm performance to adoption of QM practices. The availability of a large number of research papers that investigate the impact of QM practices on performance provide an ideal setting for theory extension and refinement using meta-analysis techniques. In this paper a meta-analytic study is presented that fulfills two objectives. First, the paper formalizes performance implications of adopting QM practices and present hypothesized relationship between QM practices and performance. Second, a meta-analysis of correlation (Hunter and Schmidt, 1990) approach is used to examine the empirical research in QM to determine which QM practices are positively related to improved performance. The study also examines the presence of moderating factors in the association between QM practices and performance. The results support many hypothesized relationships and also point towards the presence of moderating factors in almost all QM practice–performance relationships. A discussion of the findings is presented and directions for further development of QM theory are proposed.     

基于系统演化理论的科技企业孵化系统创生研究

科技企业孵化器、在孵企业以及孵化器内部的中介机构等构成了科技企业孵化系统。本文在系统演化理论的基础上,从系统创生的角度,研究了科技企业孵化系统的创生的五个条件和五个环节以及准系统内部元素之间的三种作用,并对科技企业的内部结构与外部环境作出关联层次图。     

The effect of interfirm dependence structures on governance mechanisms

Despite recent developments regarding the study of interdependence structures, previous research has rarely investigated the simultaneous effect of both interdependence magnitude and interdependence asymmetry on governance mechanisms among exchange parties. A survey of manufacturing companies has been used to test a theory about the interactive effect of buyer dependence and supplier dependence on inter-firm governance. The analysis of the survey supported the proposition that both buyers and suppliers that are highly dependent on each other (high interdependence magnitude and low interdependence asymmetry) may choose to rely on monitoring and the norm of information sharing. However, when a buyer's dependence is low regardless of the supplier's dependence level, the buyer does not rely on the norm of information sharing (buyer's relative interdependence advantage, buyer's relative interdependence disadvantage, and low interdependence magnitude). On the other hand, when the supplier's dependence on the buyer is low, the buyer relies on monitoring regardless of its dependence level (buyer's relative interdependence disadvantage and low interdependence magnitude). However, this study did not empirically measure performance. Further research should be done on the effect of congruence between the governance mechanism and its antecedents on buying performance.     

Introduction to research on Hirschman's Exit,Voice, and Loyalty model

This article introduces this special issue of theEmployee Responsibilities and Rights Journal on recent work exploring Albert O. Hirschman's Exit, Voice, and Loyalty model of dissatisfaction. This special issue provides a forum for researchers and theorists with various perspectives on the model to present their ideas in one place. There are six original articles in this issue, and one discussion piece. While these articles do not resolve the controversies surrounding the Exit, Voice, and Loyalty model, they do provide a clear picture of the current status of research and theory on dissatisfaction in organizations from this perspective.     

现代企业委托代理问题的“中庸之道”

孔子提出的“中庸之道”从根本上说是一种管理思想和方法,它要求人们作任何事情都要遵循适度原则,这对现代企业中的委托代理问题同样具有重要意义。在这一思想方法的指导下,本文论证了解决委托代理问题的最优激励机制设计,寻找激励与监督的均衡点。     

会计目标变迁的理论分析

本文以会计目标作为会计理论体系的逻辑起点,阐述变迁理论背景以及在不同市场主体中会计目标表现出的不同特征,揭示市场不断地发育成熟作为变迁的原动力。认为会计目标与经济发展相适应,是促进市场经济发展而导致会计目标变迁的规律。     

微观经济杠杆值域的聚类分析——以我国能源类上市公司2003年数据为例

本文提出一个研究微观经济杠杆值域的新思路,按照“竞争性工商企业评价指标体系”中所确定的财务指标对2003年我国能源类19家上市公司进行聚类分析,把样本按财务指标值相近程度分为3类,然后对这3类公司的微观经济杠杆值域进行分析解释,得出2003年我国能源类上市公司按“竞争性工商企业评价指标体系”的财务指标分类后的微观经济杠杆值域。