领导力与企业成长关系之研究

企业是一群人为成就某一种特定目的而成立的,企业的成立与生长又与企业领导人的领导力息息相关。而领导力这三个字叉是一个非常抽象的名词,有人以为是天生的艺术,又有人以为是可以在后天培养的,但这些都很难以引用具体的实例来加以印证。领导力到底是什么？是天生的,还是可以在后天培养的？它对企业之成长到底会产生什么样的影响？     

探讨新时期企业领导力的发展之道

随着知识时代和信息时代的到来,对企业冲击力加强的同时,对于企业领导的能力要求也在与日同增,而企业领导力主要体现在领导班子自身的能力上以及相关管理制度上,本文就新时期如何促进企业领导力的发展提出了相关建议,以供参考。     

语言是一种领导力

塑造流行语,就是在打造领导力。一个有用的流行语对于一个企业来说十分的重要,而对于领导者来说,语言更是一件有利的武器。     

外部融资与企业成长关系的实证研究

在金融发达国家，外部融资对行业成长有明显促进作用。实证分析显示，我国企业要想获得更快、更好的发展，一方面要充分利用各种融资渠道，以便提高外部融资在总资产中的比重，另一方面要注意各种融资方式的合理搭配，防止因债务融资与权益融资之比过高而给企业今后的总资产增长带来不利影响。     

领导力技能连续体

尽管对于很多财务专业人士来说,实现财务领导力的想法是一个明确且现实的目标,但是很少有人了解成为一名真正的领导者需要哪些技能。     

成长型企业成长过程研究

保证企业持续健康成长是每一个企业家都在梦寐以求的事情,然而在日趋激烈的市场竞争环境中,任何一个企业的成长历程都不会是一帆风顺的。本文运用文献分析方法,界定成长型企业的成长过程,建立成长型企业成长过程的曲线模型。     

企业组织领导力培育途径探析——以海底捞为例

组织领导力的培育是企业获取核心竞争力、保证可持续发展的源泉和动力。海底捞从授权、信任、关爱等3个方面铸就了其不可复制的核心竞争力及成长韧性。海底捞培育组织领导力的经验及做法,给目前过于关注个体领导力开发和培育的企业提供了借鉴和参考,是企业依据自身实际塑造组织领导力的典范。     

企业家的成长与企业的成长

企业最大的对手不是别人，而是掌舵人自身。企业的发展深深印有掌舵人个人成长痕迹，掌舵人个人的学识、胸襟、气魄、胆识、素质以及综合形成的人格魅力对于企业的发展至关重要，从某种意义上讲，掌舵人对企业的命运起着决定性的作用，企业成长的速度取决于企业家成长的速度，老板的学习力越强企业成长得就越快。     

领导行为的多层面的企业领导力评价体系研究

以能力与行为的辩证关系为逻辑起点,以领导行为为中心,考量企业领导者在个体、团队、组织三个层面中所扮演的角色,其相应表现的领导行为为树影响、带队伍、指方向、做决策、抓控制,形成多层面的企业领导力评价指标体系,实证验证和确立了权重。     

领导行为的多层面的企业领导力评价体系研究

以能力与行为的辩证关系为逻辑起点,以领导行为为中心,考量企业领导者在个体、团队、组织三个层面中所扮演的角色,其相应表现的领导行为为树影响、带队伍、指方向、做决策、抓控制,形成多层面的企业领导力评价指标体系,实证验证和确立了权重。     

资本流动与经济增长收敛性关系——基于中国省际差异的实证研究

一个地区资本形成量的多少是关系到经济增长速度快慢的关键性因素。中国省际间资本流动情况呈现出东部地区为资本净流入地区,资本的流入带来了更高的资本存量,加快了区域内部的经济增长;中西部地区是资本净流出地区,资本的流出降低了这两个区域的资本存量;资本流动与东部地区的经济增长呈正相关关系与中西部地区经济增长呈负相关关系。     

对实体经济与虚拟资产回报率关系的研究综述

实体经济和虚拟资产之间回报率关系具有深刻的经济学含义和政策意义。对于实体经济和虚拟资产回报率之间的显著偏离,研究认为,虚拟资产的膨胀根植于实体经济的周期性萧条。然而,对虚拟资产价值的信心仍是建立在其随时可以转换为物质财富基础之上的。货币政策应该充分关注相关的资产价格,应努力研究金融发展和经济回报率偏离的关键因素。     

财险公司业务增长与承保利润的关系研究

本文针对我国财险行业整体经营效益不佳的现状,从业务增长与承保利润实现的角度进行了研究。文章通过对不同的业务增长模型进行比较分析,认为在目前的会计准则下,业务快速增长是财险公司难以实现当期承保利润的原因之一,应在充分考虑增长因素影响的前提下科学客观地评价财险公司的经营业绩。     

The relationship between finance and growth in China

We examine the non-linearity between financial development and economic growth in China. Specifically, we use a threshold model to investigate whether provinces with high level of personal income can exploit financial development efficiently. Empirical analysis, using cross-provincial data from 1978 to 2010, shows that finance has a strong positive influence on growth in high-income provinces, but a strong negative impact on growth in low-income provinces. The results are robust to an alternative financial development measure. Furthermore, we find that China's state sector, notorious for inefficiency and low productivity, accounts for a large proportion of industrial output in low-income provinces, causing bank loans to have a negative impact on economic growth.     

The relationship between asset growth and the cross-section of stock returns

There is a large body of literature examining the association between stock characteristics and the cross-section of stock returns in international markets. Recently, Cooper et al. (2008) reported a strong association between total asset growth and stock returns in the US. In this paper, we show that an asset-growth effect also exists in the Australian equity market. Of particular interest, it is present amongst the largest Australian stocks. Over the 1983-2007 period, an equally-weighted portfolio of low-growth Big stocks outperforms a portfolio of high-growth Big stocks by an average 1% per month, equating to nearly 13% per annum. At an individual stock level of analysis, the asset-growth effect remains even after controlling for other variables whose association with the cross-section of returns is well known. Finally, we explicitly test whether asset growth is a priced risk factor using the common two-stage cross-sectional regression methodology. We find no evidence to support a risk-based explanation, thereby lending credence to Cooper et al.’s (2008) suggestion that the asset-growth effect is attributable to mispricing.     

The relationship between enterprise risk management,value and firm characteristics based on the literature

In the wake of the increasing importance of comprehensive enterprise-wide risk management approaches (ERM) in the last years, e.?g. due to stronger regulatory requirements, the field of research on ERM has attracted a considerable amount of attention in the literature. The aim of this paper is to provide a literature-based analysis of the theoretical arguments and empirical findings regarding firm characteristics in the context of measuring the impact of ERM on firm value. Due to the endogeneity problem, we focus on the direct impact as well as on the indirect impact (via ERM) of firm characteristics on firm value.     

The influence of growth opportunities on the relationship between equity ownership and leverage

This study investigates whether the association between ownership structure and leverage varies with the magnitude of growth opportunities. According to the free cash flow hypothesis, managers receive utility from increasing firm size and the over-investment problem is more severe for firms with fewer growth opportunities. Considering the disciplinary role of leverage on the over-investment problem and ownership structure as a control mechanism to affect financing decisions, we hypothesize that the association between ownership structure and leverage is stronger for firms with fewer growth opportunities. We find that the association between equity ownership and leverage is significant for low-growth firms, but not for high-growth firms. The results mostly hold when sample firms are partitioned into large and small firms to directly control for the effect of firm size on the association between ownership structure and leverage.

Using residual income to refine the relationship between earnings growth and stock returns

We use residual income (RI) to decompose earnings growth into growth in RI, growth in invested capital and other components and use this decomposition to explain stock returns. Our approach provides a significant increase in explanatory power vis-à-vis a regression of returns on levels and changes in earnings. While the market values growth in RI more than growth in invested capital, it still undervalues growth in RI and overvalues growth in invested capital. Earnings growth from growth in RI is more persistent, while earnings growth from growth in invested capital is more likely to reverse. Future returns are positively associated with growth in RI and negatively associated with growth in invested capital. A trading rule based on these findings generates significant hedge returns that persist after controlling for known risk factors. Hence, RI, a measure long recommended by accountants, allows investors to differentiate and evaluate different sources of earnings growth.     

关于新增贷款与国内生产总值关系的研究

近年来,我国GDP增长与新增贷款的关系发生了变化,实证分析表明,新增贷款对GDP的贡献度下降,这意味着维持GDP增长需要投入更多的信贷,GDP高增长面临的信贷资源约束加大。文章从经济结构变化和信贷结构变化两个层面分析了导致这种变化的主要原因,并就进一步完善货币信贷调控提出相关政策建议。