国有企业双重目标与投资效率改进——基于独立董事网络和国企混改视角

立足国有企业具有社会和经济双重目标的理论逻辑,本文选取2007~2016年A股国有上市公司作为研究样本,分析了独立董事网络和国有股比例对投资效率的影响以及调节效应。研究发现:独立董事网络降低了国有上市公司的投资效率,较高比例的国有持股抑制了投资效率,但当国企更加关注经济目标时,则有助于改善投资效率;进一步研究发现,相比于特定功能类企业,独立董事网络在商业竞争类企业中发挥投资效率的改善作用更加显著。因此,独立董事应因地制宜在国企中发挥治理作用;政府应分类推进国企混合所有制改革;竞争性国企应引入较大比例的优质民营资本,优化投资决策、提高投资效率。     

网络媒体关注、审计质量与风险抑制——基于深圳主板A股上市公司的经验数据

以我国深圳证券交易所主板2011—2016年A股上市公司为样本，通过计算可操纵性应计利润衡量审计质量，使用上市公司违规数据衡量经营和交易违规风险与虚假披露风险，考察网络媒体关注的风险抑制作用。研究发现：网络媒体关注度与审计质量具有风险抑制效应，且网络媒体关注对风险的抑制作用更显著；进一步地，网络媒体关注可通过提高审计质量来抑制企业违规风险，审计质量在网络媒体关注与风险抑制之间发挥部分中介作用。     

How Fast are Semiconductor Prices Falling?

The Producer Price Index (PPI) for the U.S. suggests that semiconductor prices have barely been falling in recent years, a dramatic contrast to the rapid declines reported from the mid‐1980s to the early 2000s. This slowdown in the rate of decline is puzzling in light of evidence that the performance of microprocessor units (MPUs) has continued to improve at a rapid pace. Over the course of the 2000s, the MPU prices posted by Intel, the dominant producer of MPUs, became much stickier over the chips' life cycle. As a result of this change, we argue that the matched‐model methodology used in the PPI for MPUs likely started to be biased after the early 2000s and that hedonic indexes can provide a more accurate measure of price change since then. MPU prices fell rapidly through 2004 on every price measure we present, with the PPI declining at an even quicker pace than the hedonic indexes. However, from 2004 to 2009, our preferred hedonic index fell faster than the PPI, and from 2009 to 2013 the gap widened further, with our preferred index falling at an average annual rate of 42 percent, while the PPI declined at only a 6 percent rate. Given that MPUs currently represent about half of U.S. shipments of semiconductors, this difference has important implications for gauging the rate of innovation in the semiconductor sector.     

The role of relationship quality in raising organizational change acceptance: The case of the Greek hotel industry

This study examines whether the quality of an employee's relationships, within the context of the hotel industry, has an influence on their behavioral intention towards organizational change. The researchers suggest that the quality of relationships is an important element of an individual's social capital and can be evaluated using five key dimensions: the extent to which relationships are tangible, responsive and reliable, as well as the extent to which they offer empathy and assurance. Furthermore, this research examines whether organizational commitment and job satisfaction have an effect on the association between relationship quality and an individual's behavioral intention towards organizational change. The data collected from a sample of 100 hotel employees in Thessaloniki, Greece, show that relationship quality has a positive association with an individual's behavioral intention towards change. Additional results highlight the roles of job satisfaction and organizational commitment as mediating variables. Managerial implications relevant to the findings and pathways for further research are also discussed.     

Towards a hybrid model? A systematic review of human resource management research on Chinese state-owned enterprises (1993–2017)

Abstract

Over the past two decades, there has been a proliferation of research on human resource management (HRM) in Chinese state-owned enterprises (SOEs) as a result of the wide-reaching state-sector reform of the late 1980s. This article aims to provide a systematic review of literature on this topic and capture the nature of HRM in Chinese SOEs, both in research and practice. The article draws on 178 studies from 43 English academic journals over a period of 25?years (1993–2017). In analysing this literature and by taking stock of theoretical frameworks, research methods, themes and analysis of academic articles in this area, we have gained a number of insights. The study has found that the research methods used have shifted from qualitative and interpretive methodology toward quantitative and sophisticated modelling. A further insight is that there has been a relatively heavy reliance on institutional theory in the earlier studies reviewed, and since then a switch towards organizational behaviour perspectives. The level of analysis has moved from macro to micro level and thematic foci have become more diverse and complex. We highlight a number of avenues, theoretical and empirical, for future studies in this field.     

Navigating Through the Spatial and Institutional Contradictions of Public Audit Oversight

Abstract

This study revisits the actions of the French audit regulator (H3C) and the French profession over the 2003–2013 period in response to the regulatory transformations that occurred both in the national and transnational space. Our analysis highlights how these actors have navigated through the spatial and institutional contradictions that characterize public audit oversight in order to manage variable and opposing interests from one space to another. In particular, we show how conflicting national and transnational conceptions of professionalism and commercialism have developed to support different regulatory agendas. Our analysis of the spatial dynamics of public audit oversight allows us to propose a much less confrontational representation of the relationships between public audit regulators and the audit profession. We maintain that more attention should be paid to the spatial variants of commercialism and professionalism to better understand the development of audit regulation.     

风险投资异质性与政府补贴创新效应——“锦上添花”还是“画蛇添足”?

在中国实现“创新大国”转向“创新强国”的政策背景下，增强企业创新需要政府和风险资本市场的积极支持。本文采取多元回归分析方法，以2009—2016年中国554家创业板上市公司为样本，研究政府补贴对企业创新“数量”和“质量”的影响。结果显示：政府补贴对企业创新“数量”和“质量”均有显著的促进作用；创新数量在政府补贴对创新质量的影响中起部分中介效应。进一步研究发现，风险投资异质性对政府补贴创新效应具有显著调节作用，其中风险投资的参与会减弱政府补贴对创新质量的正向影响，是“画蛇添足”的行为；国有背景风险投资的参与能显著增强政府补贴对创新质量的正向影响，是“锦上添花”的行为。本文拓展了政府补贴对企业创新影响的研究，丰富了宏观经济政策与微观企业行为的相关文献。本文的研究结论为理性认识国家创新驱动发展战略背景下政府补贴的创新效应，充分发挥风险资本市场的积极效应，实现政府和市场的双重驱动提供了经验证据。     

大国产业竞争视阙下美欧推动的国际产业补贴新规则——中国的立场与对策

在经济全球化和先进技术占主导地位的时代,大国竞争的本质在于争夺产业链的控制权,提高在产业链中的地位。为阻止中国在产业链的升级,欧美通过对外签订经贸协定,推动国有企业规则和更新补贴规则,同时在WTO框架下谋求针对中国补贴模式修改WTO补贴规则,将补贴范围从财政补贴延伸至扭曲市场的贷款,以反补贴、竞争政策、国有企业规则等多项规则管制产业补贴。我国必须通过分类改革确定国有企业在产业竞争中的作用和地位,对充分竞争行业的商业类国有企业重新塑造"商业性"或"中性"身份,避免对我国国有企业特殊反补贴规则的适用;确立我国接受产业补贴规则的底线思维,通过博弈明确产业补贴负面清单,积极回应欧美国家关于补贴透明度要求,为相关谈判奠定良好基础。     

网购食品消费者选择行为的影响因素

利用1 790份网络调查问卷数据,采用相关分析、交叉分析等统计方法,研究网购食品消费者选择行为,分析网购食品市场渗透率不高、用户黏性不足的主要原因,结果表明,消费者个性特征差异会导致对网购食品的不同态度,进而影响消费者对网购食品的选择行为;良好的网购环境、物美价廉的食品、优质的网购服务,是促使消费者选择网购食品的主要因素,对网购食品安全的担忧、习惯于传统购物方式、网购维权难度大,是抑制消费者选择网购食品的主要因素,尤其是网购食品"难维权、维权难"可能会放大消费者对网购食品产生的消极态度。为此,应加强网购食品多主体协同监管,消除消费者怀疑心理和不放心态度;建立以消费者需求为中心的网购食品质量安全供应链管理体系,推动线上市场和线下实体店紧密结合、融合发展;完善网购食品维权制度,畅通维权渠道。     

基础设施类型、产业特征与中国企业出口行为

在异质性企业理论框架下,引入教育供给因素,将其视为社会型基础设施与交通基础设施进行比较研究;通过合并基础设施数据与工业企业数据分析两类基础设施对企业出口的异质性影响。实证研究显示:不同类型基础设施对企业出口产生不同影响,其中地区教育供给对企业出口促进作用显著,交通基础设施对企业出口作用并不稳健;不同基础设施对沿海和内陆地区企业出口有差异化影响;在产业特征框架下,基础设施供给对密集使用某类基础设施的企业出口促进作用明显。地方政府应重视社会型基础设施的贸易促进作用,调整地区基础设施投资结构。