Unfolding China’s state-owned corporate empires and mitigating agency hazards: Effects of foreign investments and innovativeness

Integrating agency and institutional perspectives, we describe how China’s socio-political institutions create state-owned corporate empires with unique agency conflicts. We develop a framework demonstrating how economically unjustified firm expansion, i.e. empire building, mediates the relationship between state ownership and performance. We uncover the instrument in empire building and appropriate corporate governance and strategic management remedies. An empirical study on 29,638 Chinese firms evidences that (1) increased state ownership drives higher management expenses and lower firm profitability though empire building; (2) long-term debt is used to finance empire building; and (3) foreign capital investments and innovativeness can mitigate these agency conflicts.     

地形因素与地质灾害分布相关性分析

基于河北省1∶5万地质灾害调查成果,选取具有代表性的崩塌、滑坡、泥石流地质灾害隐患3570处,采用图表统计分析法,对分布高程、坡度、汇水面积等地形因素进行分析,研究地形地势因素对河北省地质灾害的空间分布的影响,从而为各级行政主管部门对地质灾害的规划、预防提供参考。受制于人类居住环境等因素,河北省地质灾害在海拔高程、坡度、沟床比降等方面并非理论上的正相关性,而是呈抛物线型分布,其主要分布于海拔200~700 m的中低山区,崩塌发育坡度多大于60°,滑坡发育坡度多在20°~50°,泥石流汇水面积大多小于5 km 2,沟谷形态以V型谷为主,在山坡坡度大于25°,高差100~500 m,沟床比降213~105‰的区域集中分布。     

机动车尾气污染危害的生成机理与治理发展

本文介绍了汽车尾气对人类健康和生态环境的危害,及其生成机理和影响因素并简述汽车尾气治理与发展。     

Political hazards and firms' geographic concentration

Research summary : We examine the relationship between the geographic concentration of a firm's sales and the firm's vulnerability to expropriation hazards. Although expanding outside the home location can initially increase a firm's exposure to government expropriation, we find that this effect reverses when a firm's sales outside its home location have reached a point at which it has sufficient resources to better influence government actions and to pose a credible threat to exit the market in which it is being targeted. We supplement this main result by identifying two moderating factors: the firm's level of political capital and the effectiveness of institutional constraints on government behavior. We find support for these hypotheses from survey data on privately owned enterprises in China. Managerial summary : This research advises firm managers that certain market activities might knock their firms' economic interests out of alignment with the government's political interests, and thus, influence the political hazards they face, particularly in emerging markets such as China, which has attracted strong interest of many firms with respect to entering the market. Here, all else being equal, the firms' geographic concentration exposes them to different levels of state expropriation—but not in a simple linear fashion as suggested by the conventional wisdom of local protectionism or that of the bargaining advantage generated by the threat of relocation: Those who are “stuck in the middle” ended up paying twice or even three times as much unauthorized levies as the purely local or the most expansive firms. Copyright © 2015 John Wiley & Sons, Ltd.     

论地基不均匀沉降的原因及防治措施

建筑物一般会产生一定的沉降,过大的不均匀沉降易使上部结构开裂与破坏,严重影响建筑物的使用。本文主要阐述地基不均匀沉降的危害、原因以及防治措施。     

福建龙海某高速公路隧道地质灾害发生机理分析与处理研究

通过对福建龙海某高速公路地质灾害的描述,结合地质构造,分析地质灾害发生的机理并对断层破碎带区域的隧道施工处理进行研究。     

施工现场火灾隐患与防范管理措施分析

建筑施工现场存在的火灾隐患,给国家和人民群众的生命财产安全带来极大成胁,为预防施工现场火灾事故的发生,文章针对建筑施工现场火灾隐患与防范措施做一下分析总结。     

电力系统中的谐波问题的研究

近年来,随着电力电子技术的飞速发展,各种电力电子装置产生的谐波所造成的危害也日趋严重。文章在研究了电力系统中谐波危害性及谐波的检测方法,为做好谐波的抑制工作提供了途径。     

土地财政的形成、危害及改革措施

一直以来,土地收入作为财政收入来源中的重要一项,在各地方政府财政中占有很大份额。在财权与事权搭配不合理的情况下,地方政府积极谋求其他方式来增加收入,土地增值税便成为增加地方财政收入的法宝。"土地财政"造成产业结构畸形发展,并易于滋生腐败。打破"土地财政"必须改革财政分税制,统一整合房地产税或物业税,重构政绩考核体制。     

新疆艾维尔沟矿区焦煤井田地质灾害评估及防治措施

对拟建矿区进行地质灾害危险性现状评估,预测工程建设引发或加剧地质灾害的危险性程度,提出了相关的防治措施。