基于大股东控制的并购财富效应研究

本文研究了存在大股东代理问题下的并购财富效应及其形成机理，通过理论分析发现，大股东发起的收购行为通常导致并购方及其关联企业的总利润减少，竞争对手的利润增加，消费者剩余减少。尽管收购活动对并购方而言没有创造价值，但并购事件依然发生。这是因为收购后控制性股东将偏袒他拥有现金流权相对较多的企业。而侵害其他企业小股东利益。本文的研究成果对制定收购监管规则及小股东保护制度有一定的参考意义。     

Identifying industrial new product success: Project NewProd

What is the key to success in industrial product innovation? This question is frequently posed, and many authors and managers have speculated as to which critical factors or variables decide the fate of new industrial products. What is missing in the debate is evidence based on actual new product successes and failures. Project NewProd is an investigation that was designed to fill this void. In this article we report the results of a study into a large number of successful and unsuccessful new products, project NewProd, whose goal was to identify the determinants of commercial success in industrial product innovation.     

任意两相交流电机的统一方程式

任意对称和不对称运行的两相交流电机,根据其电磁物理过程的统一性,应用双旋转磁场理论,分析导出了任意两相交流电机的统一计算方程式。     

How to improve acquisition performance: The role of a dedicated M&A function,M&A learning process,and M&A capability

How to improve the performance of mergers & acquisitions (M&A) continues to be a confounding issue. We show that a dedicated M&A function is a new phenomenon that is positively related to a firm's M&A performance and M&A learning process. Moreover, we find that an M&A learning process (involving articulation, codification, sharing, and internalization) helps build up an M&A capability, which in turn is positively related to a firm's overall M&A performance. We use survey data from a sample drawn from the M&A activities of German firms to test our arguments. Ltd. Copyright © 2015 John Wiley & Sons, Ltd.     

Salesforce entertainment activities

Sales managers need guidelines for controlling the entertainment costs incurred by their sales personnel. Because of the difficulty in measuring the payoff associated with particular entertainment costs, the decision of whether to spend or not to spend is, of necessity, somewhat subjective. One guide is to compare entertainment activities among different salesforces. A survey of over 1300 salespeople employed in a wide variety of jobs in a large number of industries revealed the extent of entertainment efforts in five areas: taking clients out for lunch, for an evening meal, for a drink, for leisure activities, and parties for clients.     

Experimental Research on the Relations between Stereoscopic Vision and Mechanical Designers' Activities, with a View to C.A.D. Teaching

This study examines the influence of two crossed factors upon the performance of a subject whose aim is to understand the functioning of a complex piece of technical apparatus, in this instance an automated arm from an assembly line. The primary factor was the encoding degree of the third dimension which constitutes the representation of the object. The methods of presentation were: a 3-D photograph, an axonometric perspective drawing and a first angle orthographic drawing. The second factor was professional experience. The subjects were, on the one hand, first year technology pupils (15--16 year-olds) and, on the other hand, professional draughtsmen from RENAULT. The results obtained with the 3-D photograph were twice as good as those obtained with the axonometric perspective or the orthographic drawing. It should be pointed out that experience did not effect the score. This revised version was published online in July 2006 with corrections to the Cover Date.     

成长性、成熟性和衰退性产业上市公司并购绩效的实证分析

按照并购双方行业的相互关系，并购可以分为横向并购，纵向并购和混合并购。本文认为，公司所处产业的性质（成长性，成熟性，衰退性）在很大程度上影响着不同类型并购的绩效，处于不同性质产业的公司进行不同类型并购后的绩效不同，利用我国上市公司1995－1999年336次并购事件进行实证分析的结果表明；处于成长性行业的公司进行横向并购绩效相对最好；处于成熟性行业的公司进行纵向并购绩效相对最好；处于衰退性行业的公司进行横向并购的绩效最差。     

Social auditing for marketing managers

A general framework is suggested for use by the marketing manager in maximizing efforts to safeguard consumer rights by thoughtfully preparing for his part in the corporate social audit. He can adapt a suggested audit preparation sequence to the needs and resources of his individual company.     

A new method for routing salespersons

A new heuristic solution methodology for solving large-scale “traveling salesman” problems is presented. Significant features of the new procedure includes a rapid identification of node location and positive stopping.     

The senior marketing executive in South African industrial companies

A study was undertaken among 44 of the top hundred companies in South Africa during 1983. The “average” Industrial company has a marketing department. Its marketing executive sits on the board of directors. He/she has a bachelors degree and over 10 years experience, has a limited financial role in the organization but has a large production planning role. The most important tasks of the marketing function are advertising, public relations, pricing, and selling.     

Vendor segmentation: An additional level of market segmentation

This article describes a new conceptual approach, called “vendor segmentation,” which will be useful to industrial marketers in making their vendor evaluation and selection procedures more customer oriented, and hence more profitable, than conventional procedures. A practical approach for doing vendor segmentation analysis is outlined as a stepwise procedure, and the potential benefits and limitations of using this approach are discussed.     

Antecedents of M&A success: The role of strategic complementarity,cultural fit,and degree and speed of integration

In this paper, we develop a comprehensive model of M&A success. We integrate fundamental constructs of different schools and discuss their interdependencies with M&A success. Our theoretical framework was tested empirically across a sample of 106 SME transactions in the machinery, electronic, and logistic industries in the German‐speaking part of Central Europe. The results of our study support the demand for an integrative perspective and theory on M&A. M&A success is a function of strategic complementarity, cultural fit, and the degree of integration. Strategic complementarity also positively influences cultural fit and the degree of integration. Cultural fit positively influences M&A success, but surprisingly has a negative impact on the speed and degree of integration. The degree of integration is positively related to speed of integration. Copyright © 2013 John Wiley & Sons, Ltd.     

R&D Patterns in the Video Display Terminal Industry

A long-standing question asks whether small firms or large firms are more successful in product innovation, and the answer seems to be coming up, "It depends." Professors Link and Zmud reveal some of the things it depends on when they describe the results of their research on the VDT industry. They see the VDT industry as a possible prototype of the several technologically progressive industries now growing toward the early stages of maturity. What we see here today may be a forerunner of what we'll see elsewhere in the near future.     

入世条件下合理保护我国钢铁工业问题研究

从世界钢铁产能过剩,关国实行“进口钢铁201保障措施调查案”最终救济方案这一背景出发,分析我国加入WTO后,原有的钢铁贸易保护政策受到了很大的限制情况下,适当保护我国钢铁工业的必要性与紧迫性,并对在WTO框架下如何合理保护我国钢铁工业提出建议,对在WTO框架下合理保护我国钢铁工业有现实意义。     

Industrial product managers: Authority and responsibility

This exporatory study concentrated on large industrial firms. The data indicate the IPM is well accepted, and has a very bright future. Their authority and responsibilities are similar to consumer goods PM's with technical aspects being the exceptions.     

华北地区某污水处理厂升级改造工程实例

华北地区某城市污水处理厂升级改造工程处理规模为50万t/d,原设计为A/O脱氮工艺,执行《城镇污水处理厂污染物排放标准》(GB 18918-2002)二级排放标准。由于近年来进水水质严重恶化以及对污水排放标准的提高,需对原污水处理系统进行改造,通过技术方案对比,在原生物处理段增加厌氧池,使之变为A2/O脱氮除磷,新增深度处理工艺为反硝化生物滤池-加砂沉淀池-滤布滤池-紫外消毒,使出水水质达到一级A排放标准。     

Product development in the chemical industry: A description of a maturing business

To help us understand the massive complexity of the chemical industry, Robert A. Linn breaks it down into product/market sectors that show differing business requirements, and hence, differing new product development requirements. This is an important industry that has struggled through the 1970s with sharp changes in external pressures and very little technological excitement. Where are the new product opportunities in an industry such as this? How do you pursue them? On the basis of his years of experience in the industry, Linn offers some suggestions and some challenges for managers.     

基于PIC16F873A单片机的温控阀门的低功耗设计

基于PIC16F873A单片机实现了用于新建住宅采暖系统的温控阀门设计,在设计中以干电池作为系统电源,充分考虑了控制精度、整体功耗等问题.现场运行效果表明,该温控阀门具有低功耗、高精度的优点,达到了控制温度、有效节能的目的.     

Marketing executives' perceptions of equitable salary increases

Employees' perceptions of fair and equitable salary increases is the subject of this article. Factors hypothesized to be the major determinants of the “perceived amount of pay that should be received” in Lawler's model of pay satisfaction are employed as predictor variables in a multiple regression equation context to explain the observed variation in executives' perceptions of fair and equitable salary increases. A national sample of industrial marketing executives were surveyed. A significant relationship was observed between employees perceptions of fair and equitable salary increases and a number of perceived personal job input and job demands related variables, current salary and wage history, and perceived non-monetary outcomes which are theorized in Lawler's model to be among the major determinants of the perceived amount of pay that should be received.     

Forecasting sales trends in the solid state industry

Through a study of the relationships between factors in the macro economy and solid state domestic sales, and with the use of econometric models, the solid state industry is attempting to forecast future business turns, both positive and negative, that affect long-term operations and profitability.