Investor relations on the Internet: a survey of the Euronext zone

This study investigates the investor relations activities on the Internet of companies listed on the Euronext stock exchange. For this purpose, the websites of the fifty largest listed companies in each of the countries Belgium, France and the Netherlands were screened for investor relations items. Results obtained by using a three-stage model show that most companies in the Euronext zone are at the second stage of Internet investor relations, i.e. where information available through other sources is combined to better inform investors. In the third stage companies use the full interactive possibilities of the Internet for investor relations purposes. French and Dutch companies use the Internet for investor relations purposes more widely and more intensely than Belgian companies. The study also revealed a size effect; large companies use the Internet for investor relations purposes more extensively than smaller companies. This conclusion holds for each of the three countries. The leading companies in France and the Netherlands are either at the third stage of Internet investor relations or are ready to move to this stage.     

徐小平：让俞敏洪看看!

做天使投资,徐小平感到欢乐和骄傲,最重要的是得到了‘他妈的财富”。不过,徐小平说,“投资只是一个人生阶段”     

Rethinking determinants of ICT acceptance: Towards an integrated and comprehensive overview

In the contemporary ICT environment, we are confronted with a growing number of failing innovations. New technological innovations often fail because too much attention is still given to (technical) product-related features without taking into account the most important parameters of user acceptance. In addition, suppliers of ICT products often lack accurate insight into the distinguished profiles of their (potential) target audience. In this article theoretical considerations and empirical results on this matter are highlighted. First of all, an approach is proposed in which more traditional and often scattered vision(s) on adoption determinants are broadened into an integrated framework. The approach provides a stronger base for better targeting of (new) users of technologies. Secondly, the authors elaborate on this by rethinking these determinants with regard to later adopters. Later adopters (or even non-adopters/users) are often ignored in technology acceptance research. However, especially for policy purposes, the understanding of why people do not adopt or do not use ICT is strongly relevant in the light of the development of an inclusive information society. Both approaches are illustrated by case studies starting from a common list of nineteen ICT appropriation determinants. This framework enables to better profile both earlier and later adopters as well as it allows to formulate recommendations how to bring innovations in the market. Summarizing, this contribution offers an integrated approach on technology acceptance research by bridging the gap between a market and a policy-oriented point of view.     

International entrepreneurship: a bibliometric overview

The aim of this paper is to provide an overview of the academic research on International Entrepreneurship (IE). To accomplish this, an exhaustive bibliometric analysis was carried out, involving a bibliometric performance analysis and a graphic mapping of the references in this field. Our analysis focuses on journals, papers, authors, institutions and countries. To perform the performance analysis, the work uses a series of bibliometric indicators such as h-index, productivity and citations. Furthermore, the VOS viewer to graphically map the bibliographic material is used. The graphical analysis uses co-citation, bibliographic coupling and co-occurrence of keywords. The results of both analyzes are consistent among them, and show that the USA is the most influential country in IE research as it houses the main authors and institutions in this research field. Moreover, is observed and expected the continued growth of the field globally. Our research plays an informative and complementary role as it presents most of the key aspects in International Entrepreneurship research.

     

Investor Relations-Performance Monitor

Unternehmen sehen sich unter anderem aufgrund der Globalisierung der Kapitalm?rkte mit steigenden Anforderungen der Kapitalgeber konfrontiert. Diesen werden sie jedoch, wie verschiedene Studien zeigen, bei weitem nicht immer gerecht. Ziel des vorliegenden Beitrags ist zum einen die konzeptionelle Erarbeitung eines Anforderungskatalogs an eine effiziente Kapitalmarktkommunikation und zum anderen die Gestaltung eines Instruments zur überwachung der Leistungsf?higkeit der Investor Relations (IR)-Arbeit. Ein solches Instrument zur Leistungsmessung kann dann als Grundlage für eine leistungsorientierte Entlohnung oder auch für Budgetierungsentscheidungen im IR-Bereich dienen.     

投资者保护与权益市场均衡模型

本文介绍这样一个模型,在企业家面向公众融资;而法律制度对外部股东的保护较差的条件下,我们将Becker(1968)“犯罪与惩罚”理论引入Jensen和Meckling(1976)理论框架中,研究企业家的融资决策与权益市场均衡,该模型的结论与有关投资者保护和企业融资之间关系的一系列实证研究结果一致。     

巴菲特:世界最伟大的投资家

拥资数十亿的沃伦·巴菲特是20世纪的一个奇迹。他完全依靠投资创造了这笔财富,其中大多数是通过所有投资者都能接触到的上市公司。他所有的投资都汇集到一家公司:伯克希尔·哈撒韦     

约翰·拉特里奇:活跃于环球的投资家与学者 --专访一:公平追问竞争

约翰·拉特里奇的理想是能够按照自己的目标去规划自己的公司、自己的人生,因此他总是重拳出击,挑战一切有碍于自己发展的各种因素。他在自己的经营步骤中,极其擅长操纵自己的商业目标,从不愿意浪费一个可行的目标和计划,所以他的目标构成了他经营财富人生的指南针。他常把能力作为自己的训练内容,反复锤炼,反复提高,终于完成了一个又一个目标,构成了非常精彩的成大业的人生轨迹。不谋万事,不足谋一事;不谋全局,不足谋一域。     

投资者行动主义的国际研究

近年来,投资者特别是机构投资者开始改变过去的消极姿态,越来越多地主动参与到所投资公司的治理行动中。本文从不同国家“投资者行动主义”的表现形式出发,对投资者的组成结构进行国际比较,并对投资者行动主义存在的局限性进行述评。     

投资者保护与创业

我们通过私募资金市场(private capital mar- ket)搜寻模型的均衡,来研究投资者保护对外部融资可得性(availability)、企业家才能(entrepreneurship)和创业所产生的影响。除了搜寻成本(friction)之外,我们还考察了合约成本,特别是由于企业家(entrepre- neur)可能侵夺融资人(financier)所导致的事中和事后(expost)道德风险问题。在我们的模型中,政府选择投资者保护水平,以确定项目盈余(match surplus)在创业者与融资人之间的可转让性。结果表明任何鼓励(抑制)企业家才能的做法也会鼓励(抑制)创业。因此,投资者保护的创业效应取决于各种搜寻成本和合约成本的相对影响。只有当投资者保护对与事中道德风险相比的事后道德风险问题产生更大的影响时,加强投资者保护才能促进创业。我们也发现搜寻成本削弱了投资者保护的积极效应,同时,合约成本则修正了标准的荷氏(Hosios)效率条件。     

聚焦投资者保护指数

被誉为基于会计的投资者保护指示器的国内首个投资者保护指数的发布,为会计投资者保护功能研究与实践发展提供了经验数据,为市场投资者、政府监管部门以及其他利益相关者评估公司价值、保护投资者利益提供了评价依据。该指数的发布及其推广应用,必将对中国资本市场的健康发展产生积极影响。     

The concept of psychological capital: a comprehensive review

In this paper, we provide a comprehensive view on the concept of psychological capital (PsyCap) and develop an agenda for future research. PsyCap describes an individual’s psychological capacity that can be measured, developed, and managed for performance improvement. The higher-order construct comprises the psychological resources self-efficacy, hope, optimism, and resilience, and has been linked with a range of desirable work attitudes, behaviors, and other outcomes. By analyzing and structuring the existing literature on PsyCap, we identified several research gaps that require further analysis. In particular, we encourage researchers to expand the research on the effects of PsyCap to other workplace-related domains, especially the field of strategic decision-making, we call for researchers to further study the relationship between emotions and PsyCap, and we suggest to analyze the effects of PsyCap in the context of strategic human resources management. Also, future studies should establish transparency on the interaction between organizational change processes and PsyCap as well as the relative importance of the four components of PsyCap. We close by discussing the implications of our findings for corporate practice, such as employee selection and development.     

机构投资者与公司治理

随着机构投资者的发展壮大,人们越来越关注其对公司治理方面的作用。由于机构投资者巨大的股票持有量,他们存在参与公司治理的愿望。但因为经济往来关系、法律法规规定、信息处理障碍导致机构投资者并不能有效地参与公司治理。     

Empirical research consolidation: a generic overview and a classification scheme for methods

I define research consolidation as comparing and combining (amalgamating or, at least, juxtaposing) results or other output from multiple previously conducted research activities, relevant to a goal or topic of interest. The concept, not limited to empirical research or any specific method, is similar to and subsumes what is often referred to as research synthesis or research integration; I explain the concept and my rationale for the new term. After introducing the broader concept, I focus on consolidation of empirical research. As background for this, I offer a brief introduction to empirical research. Then I provide a generic overview of empirical research consolidation, abstracted from several of its specific methods, such as quantitative meta-analysis and qualitative meta-synthesis; this sort of overview—method agnostic and capturing the commonality—is not readily available in the literature. At the core of the paper, I propose a scheme to classify methods for empirical research consolidation followed by a review and classification of selected methods, illustrating the scheme. I also discuss and clarify related terminology. The classification scheme differentiates between two major attributes of methods—consolidation technique and type of content to be consolidated—that may reflect the positivist or constructivist research paradigm. Consolidation techniques could be aggregative, interpretive, or a combination thereof. Content consolidated, from empirical research reports, could be empirical or not and could be from quantitative research, qualitative research, other kinds of empirical research, or a combination thereof.