同业并购式“全产业链”模式竞争优势理论推导机理

本文根据中粮集团2004年后的资本运作模式和蒙牛乳业集团2009年被中粮集团收购后的发展战略模式得到启发,提出同业并购式全产业链模式,并尝试利用企业成长理论、协同效应理论和价值链理论推导同业并购式全产业链模式的竞争优势,以期从理论上解释此模式的作用。     

企业并购过程中的财务风险控制

企业并购对于优化资产结构、加快企业发展有重要意义,是现代企业非常重要的发展战略之一,但同时也存在着巨大的风险。本文就企业并购过程中的财务风险进行分析,并提出防范措施。     

企业并购动因分析

在市场经济中,企业并购是企业变更和终止的方式之一。随着现代企业制度的建立和产权市场的不断发展,人们逐渐意识到企业本身也是一种商品,可以在市场上进行买卖,目前西方学者已经提出了许多理论来解释并购活动发生的原因。但迄今为止,理论界也未能形成一个比较权威、令人信服的全面解释。本文来表述笔者对并购动因的一些认识。     

同业存单

<正>1.什么是同业存单同业存单是指银行业存款类金融机构法人在全国银行间市场上发行的记账式定期存款凭证,是一种货币市场工具。同业存单可以通过全国银行间同业拆借中心的系统进行发行、交易、回购质押。同业存单的投资方是包括银行间同业拆借市场成员、基金公司和基金类产品等在上海清算所开立了托管账户的机构。2.目前同业存单市场的发展现状同业存单于2013年开始推出,第一批获准发行同业存单的机构包括工、农、中、建以及全国性股份制商业银行在内的10多家机构,目前累计发行量已超过1200亿元。     

并购过程中目标公司内部员工与并购公司博弈分析

企业并购过程中目标公司内部员工与并购公司之间存在矛盾冲突,但这种冲突可以通过并购方给予内部员工相应的激励,同时并购双方采取合作的策略以使并购顺利实现。文章采用动态重复博弈的研究方法,从理论上证明了合作的前提条件,通过分析得到了帕累托最优的均衡策略。     

东方航空并购上海航空协同效应分析

我国航空运输企业虽发展快速,但仍存在结构协同差的问题.企业重组对于其转型升级以及长远发展是一个很好的选择,重组后的企业往往能焕然如新.2009年7月12日,中国东方航空公司与上海航空公司正式重组,但这两个挂着ST头衔、不被外界看好的"弱弱组合"却在本次联合后迎来东航的"黄金十年".研究本次并购组合的成功可以给未来并购带...     

企业并购中的企业文化整合

论述了企业并购中企业文化整合的重要性，以及目前我国企业文化整合的主要类型和模式，并对企业文化整合的实施过程做了探讨。     

企业并购中的审计风险及其防范

企业并购是资本运营的主要方式,是企业扩张的重要形式,但也是一项高风险的经济活动。企业并购风险审计是审计实践中一个具有发展潜力的增长点,在并购活动中发挥着极其重要的作用。审计人员应借鉴其他企业在并购过程中的经验和教训,采取措施防范、降低并购交易各阶段的审计风险,以完成合理估价的基本审计目标。本文从企业并购审计的基本内容出发,主要介绍并购审计的风险及其防范措施。     

企业并购中的企业文化整合

论述了企业并购中企业文化整合的重要性,以及目前我国企业文化整合的主要类型和模式,并对企业文化整合的实施过程做了探讨。     

阿里巴巴并购网易考拉案例分析

我国经济快速发展,为了使企业规模变得更大,使经济效益不断平稳快速增加,大部分企业均选择并购方式。但是,并购存在巨大的风险,财务风险是各种风险中最为突出的。假如企业不能及时有效地判断风险,那么这些风险将不能被避免,也就不能达到扩大企业自身规模和提高经济效益的目的,企业可能面临巨大经济损失。本文通过分析阿里巴巴并购网易考拉案例,分析并购案中的优势与劣势,希望能够给其他企业带来经验借鉴。     

Local economic structure,regional competition and the formation of industrial land price in China: Combining evidence from process tracing with quantitative results

The price of industrial land in China has been found distorted and remarkably low. However, it is overlooked that industrial land price is relatively high in some regions. This local variation cannot be explained by classical theories on land price that focus on local economic level, population density, and location factors. We propose a theoretical framework incorporating local economic structure and governments’ behavior in regional competition, to interpret the formation of industrial land price in China. We first model local firms as foot-tight ones, whose relocation costs are enormous, and outside firms as foot-loose ones, whose relocation costs are negligible. Then we divide local governments as outside-capital-dependent governments (OCDGs) and non-outside-capital-dependent governments (NOCDGs) according to the role of outside capital in local economic structure. In such a setting, OCDGs are supposed to aggressively pursue outside firms and use industrial land as a critical endowment to engage in race-to-bottom competition, making the price extremely low. On the contrary, the optimal strategy for NOCDGs, who lack strong incentives in attracting outside investment, is to stay aside and let potential land users compete to determine the land price, resulting in a higher land price. Evidence from quantitative results and comparative case studies with process tracing based on Suzhou and Wenzhou together prove the validity of this theory. This paper advances the conventional understanding of industrial land price and concludes with implications on industrial land policies and sustainable development.     

Cooperatives, regulation and competition in Norwegian agriculture

This article analyses the efficiency of current market regulations and market structure in Norwegian agriculture. Based on their potential to coordinate farmers' supplies, large marketing cooperatives are assigned a market regulation role. However, market prices frequently tend to fall below target prices, spurring costly additional market regulations. This is not necessarily a result of inefficient coordination by the cooperative. Using a mixed market model, the study shows that over production may be explained by the competition between marketing cooperatives and investor-owned wholesalers (IOW), typically weakening the cooperatives' ability to coordinate market supply. This conclusion is robust over a variety of IOW contracts. However, to what extent competition is to blame, depends on the target price level and the contract structure of the IOW. Moreover, it is shown that current market interventions to remove excess supplies may induce further incentives to increase production.     

Old and new partners: Similarity and competition in the EU foreign agri-food trade

This paper analyses the trade relationships among the EU-15 members and some emerging partners: the NMS, Turkey and China. The EU expansion to include 10 new countries has modified quite remarkably the features of agri-food trade in Europe. Some of the NMS, such as Poland, Hungary and the Czech Republic, significantly contribute to the international agri-food trade and, since the beginning of the process of EU accession, they have modified dramatically the exchanges with the EU-15. More recently, other countries such as Turkey and China have established new relationships with the EU. Turkey is a large Mediterranean country and, as a candidate to the EU accession, enjoys a differential treatment in the agri-food trade relationships with the EU. China can be considered as a new international competitor, growing at faster pace after having joined the WTO and increasing its agri-food trade exchanges with the EU. The analysis will focus on the measurement of the similarity of the agri-food exports of Italy and the remaining EU-15 member States with the new partners entering the EU-15 market. It will be carried out with the support of three different indicators: the export structure similarity index (ES), the product similarity index (PSI) and the quality similarity index (QSI), using the Eurostat database with an eight “digit” merchandize disaggregation and with reference only to agri-food exchanges. Results will indicate that there is little similarity, especially when a comparison is made between the exports of the EU-15 countries to the EU market. Moreover, quality remains a crucial factor for Italian and European agri-food products when competing with external products.     

中国粮食业发展新阶段的产业创新

中国粮食业发展新阶段的粮改举措和粮食流通政策，必须通过产业创新，加强“五大战略支柱”，实现“五化”：１ 创新发展道路，实现发展综合化、可持续化 新世纪中国粮食产业呈现以下５种发展趋势：（１）粮食产业链由分割转变为多种形式相互连接的经营一体化；（２）粮食产业将在更广、更深程度上实现宏观调控下的市场化；（３）粮食产品以市场需求为导向，实现优质化、专用化；（４）无污染、无公害的绿色食品市场日益扩大，粮食产品越来越走向绿色化；（５）加入ＷＴＯ后，两种资源、两个市场进一步相互融合，粮食市场国际化。 适应上述…     

Political competition and policy choices: the evidence from agricultural protection

This article investigates whether political competition plays an important role in determining the level of agricultural protection. In order to do so, we exploit variation in political and economic data from 74 developing and developed countries for the post‐war period. We use two measures of political competition: one that captures the extent to which political power can be freely contested regardless of election results and one based on vote share at last parliamentary elections. Our results, based on static and dynamic panel estimators, show unambiguously that the higher the level of political competitions is, the higher the agricultural protection.     

新形势下吉林森工集团产业发展研究

分析吉林森工集团产业发展的现状和目前存在的主要问题,提出按照投资主体多元化的原则,大力发展森工后续产业;重新设计森林资源管理体制,实行林产工业和营林业的统一经营;走特色产业之路,大力发展替代产业;进行新一轮的合并、重组,实施全球化战略等产业发展对策及建议。强调了在加强生态建设的同时,必须高度重视林产工业的发展壮大。     

推动苜蓿产业发展 全面提升我国奶业

三聚氰胺事件发生的根源在于蛋白质饲料不足。苜蓿是蛋白质含量较高的优质豆科牧草,积极推动苜蓿产业发展在全面提升奶业上具有不可替代的功效。发展苜蓿产业,草农可获得纯收益672.70元/亩,奶牛每年可增纯收益1588元/头,且对粮食安全不构成威胁。应在苜蓿种植、良种推广、加工和专业合作组织建设等方面进行扶持,每年约需10亿元资金。     

Competitiveness in the Canadian Food Industry

Concerns about competitiveness in the Canadian food industry have generated a number of studies, inquiries and other initiatives on the subject. This paper examines the concept and measurement of competitiveness, the findings of several studies and some of the methodological issues involved in analyzing this phenomenon. While there is general agreement that the concept has most relevance at the level of the firm where it can be described as “the ability to profitably gain and maintain market share,” it has been applied mostly at the industry and country levels where there is less agreement on measurement and interpretation. This is reflected by a remarkable lack of consensus among studies of the Canadian food industry. The methodological issues most in need of being resolved are those relating to appropriate measurement and the relationship between strategic behaviour of firms and the determinants of competitiveness as found in the environment of firms Plusieurs études ont été réalisées sur la compétitivité de l'industrie agro-alimentaire canadi-ennne. Ce papier a pour but i) d'énumérer et de commenter les définitions et mesures de compétitivité couramment utilisées, ii) de synthétiser les aspects méthodologiques et résultats d'études antérieures, iii) de discuter des implications de la réglementation sur I'inocuité des aliments sur la compétitivité. Il semble y avoir concensus sur la pertinenence du concept de compétitivité au niveau de la firme. Malheureusement, la majorité des études ont analysé la compétitivité aux niveaux des industries ou des pays pour lesquels l'interprétation des résultats et les mesures sont sujet à controverse. Les résultats de ces études sont en général contradic-toires, Il nous apparait primordial d'améliorer les mesures de compétitivité de façon à mieux capturer le comportement stratégique des firmes et les caractéristiques de l'environnement dans lequel elles opérent     

Vertical Integration in the Pork Industry

This article provides an economic explanation regarding why the share of U.S. pork raised on company-owned farms with hired management (integration) is increasing relative to production through independently owned-and-operated contract growers (contracting). The article develops a property rights model that shows how in certain circumstances production contracts do not transfer sufficient control over the use of production assets to intermediaries. On the other hand, integration removes certain grower incentives, with the result that production on company farms tends to be relatively costly. Practical examples of factors that influence the likelihood of full integration are emphasized.