Excessive Investment in Hospital Capacities

In the present study I identify an inherent characteristic of health care markets that may lead to excessive investment by hospitals even when compensated according to a prospective reimbursement rule. It is demonstrated that the stochastic nature of the demand for medical services combined with the lumpiness of investment decisions may give rise to excessive investment when multiple hospitals select independently their levels of capacities. The source for the excessive incentives to invest is the difficulty of one hospital to internalize properly the externality generated by its investment decisions. Such an externality arises because when one hospital expands its capacity, it is more likely to be able to serve not only patients residing in its region but patients residing in neighboring regions as well.     

管理层持股、自由现金流与企业过度投资行为研究

在现代企业制度下,通过管理层持股将股东与管理层之间的堑壕效应转化为利益协同效应,能有效减少管理层的过度投资行为。通过实证研究发现,管理层持股与企业过度投资—自由现金流存在二次曲线关系,过度投资对自由现金流的敏感性与管理层持股呈正U型关系。当管理层持股达到一定比例时,企业过度投资对自由现金流敏感度最低,对企业抑制过度投资的作用最大。     

基于债务约束的自由现金流过度投资问题研究

自由现金流理论认为,当企业存在大量自由现金流时,管理者倾向于过度投资。债务控制是降低因自由现金流引起的代理成本的有效方法之一。模型检验发现,我国制造业上市公司并不显著存在自由现金流量的过度投资行为;债务约束效应在我国没有发挥应有的作用。     

我国房地产上市公司过度投资行为实证分析--存在性与现金股利约束

近年,房地产企业都在进行投资规模和范围的扩展,不仅使投资效率下降,更造成了社会资源的浪费。从理论上分析我国房地产上市公司存在着过度投资行为的因素,提出相关假设,再选取房地产行业上市公司2003-2009年的样本数据,构建模型进行实证检验得出,我国房地产上市公司普遍存在着过度投资行为,但由于目前国内企业发展环境的限制,现金股利的发放还不足以成为抑制过度投资的主要机制。     

创业者网络能力、创业激情与创业绩效——基于资源编排与风险承担双重传导路径

创业者及其新创企业面临较大的生存压力,研究其如何借助外部关系网络提升创业绩效具有重要意义。本文基于创业网络理论,以大学生创业者为样本进行实证研究,结果显示:关系建立能力负向影响创业资源编排,正向影响创业风险承担,而关系协调能力对创业资源拼凑和创业风险承担均具有正向影响。创业资源编排正向影响创业绩效,而创业风险承担对创业绩效的影响呈倒U型;创业激情正向调节创业者网络能力对其创业绩效的影响。本文从网络能力视角深化了创业绩效提升机制研究,提出创业者应提高网络能力、对外部资源的利用能力和对企业经营管理的能力,政府应进行及时有效的创业扶持,从而为创业者实现创业成长提供实践指导。     

创业导向、外部知识获取与创业机会识别

创业活动是创新、就业和经济增长的重要来源。企业家通过持续探索创造新业务,促进社会和经济的发展和繁荣。本文基于资源基础理论和知识基础理论,以大众创业浪潮为研究背景,深入揭示创业导向、外部知识获取与创业机会识别之间的关系,并以中国246份创业新企业为样本进行了实证研究。研究结果表明：创业导向对新企业的机会识别和外部知识获取均具有积极影响;外部知识获取在创业导向和新企业的机会识别之间起到部分中介作用;此外,市场知识获取比技术知识获取对创业机会识别的影响更为突出。     

创业能力培养与创业教育融合模式研究

本文分析了国内、国外创业教育的经验,认为我国的创业教育应建立多层次的人才培养模式,从而形成人才培养质量和人才培养过程的多维度系统,实现以创业带动就业的目的。     

Entrepreneurial motivation

Recent research on entrepreneurship has focused largely on macrolevel environmental forces [Aldrich, H. (2000). Organizations evolving. Beverly Hills: Sage] and the characteristics of entrepreneurial opportunities [Christiansen, C. (1997). The innovators dilemma. Cambridge: Harvard Business School Press]. Although researchers adopting this focus have rightly criticized much of the existing empirical research on the role of human motivation in entrepreneurship [Aldrich, H., & Zimmer, C. (1986). Entrepreneurship through social networks. In D. Sexton & R. Smilor (Eds.), The art and science of entrepreneurship (pp. 3–23). Cambridge, MA: Ballinger; Adm. Sci. Q. 32 (1987) 570], we believe that the development of entrepreneurship theory requires consideration of the motivations of people making entrepreneurial decisions. To provide a road map for researchers interested in this area, we discuss the major motivations that prior researchers have suggested should influence the entrepreneurial process, as well as suggest some motivations that are less commonly studied in this area. In addition to outlining the major reasons for exploring these motivations, we identify the major weaknesses that have limited the predictive power of previous research on this topic. We offer explicit solutions for future research to adopt to overcome these problems.     

过度自信与市场泡沫

2000年，美国股市旧网络股神话的破灭对传统金融理论提出了挑战。本文中所介绍的模型在卖空限制的前提下，通过研究投资者过度自信，对市场上存在的泡沫和价格过度波动现象进行了更为合理的解释。     

Mythicizing and Reification in Entrepreneurial Discourse: Ideology-Critique of Entrepreneurial Studies

This article discusses the effects of ideological control in conventional entrepreneurial discourses and praxis. Following postmodernist, deconstructionist and critical theory traditions, the ideas expressed about the phenomenon of entrepreneurship, and its contiguous notions and concepts, are deconstructed to reveal the dysfunctional effects of ideological control both in research and in praxis. It is shown that the concept of entrepreneurship is discriminatory, gender-biased, ethnocentrically determined and ideologically controlled, sustaining not only prevailing societal biases, but serving as a tapestry for un- examined and contradictory assumptions and knowledge about the reality of entrepreneurs.     

创业失败与后续创业意向联系研究

近年来,越来越多的人们选择创业,但创业失败是当前社会环境中普遍存在的现象,所以创业失败的研究在创业活动中就显得尤为重要。利用韦纳的归因理论,叙述了创业失败归因(内因、外因)和创业失败学习(探索式学习、利用式学习)的相互作用关系。再根据佛隆的期望理论,将在创业失败背景下的期望模式的四个因素作为的中间变量,说明了创业失败归因、学习以及成本对创业者的后续创业意向影响。     

Entrepreneurial optimism and creative destruction

Using textual analysis of annual reports of US-listed firms, we provide empirical evidence that uncertainty (rather than risk) and optimism are distinctive characteristics of high-impact entrepreneurial firms (recently listed firms) relative to old incumbent firms. We construct an entrepreneurial entry predation model with uncertainty based on this evidence. We show that optimistic entrepreneurs may enter markets that otherwise would be blocked from entry by incumbents’ predatory threats. Thus entrepreneurial optimism may be to the benefit of consumers. Entrepreneurial optimism can also create a strategic advantage for entrepreneurs since incumbents may react by being less aggressive in product market interactions, which will benefit the profitability of the entrepreneur’s venture and consumers via lower prices.     

Social Interactions and Entrepreneurial Activity

We show that individuals residing in highly entrepreneurial neighborhoods are more likely to become entrepreneurs and invest more into their own businesses, even though their entrepreneurial profits are lower and their alternative job opportunities more attractive. Our results suggest that peer effects create nonpecuniary benefits from entrepreneurial activity and play an important role in the decision to become an entrepreneur. Alternative explanations, such as entry costs, social learning, and informal credit markets, are not supported by the data.     

创业自我效能感及其对农民创业意向的传导作用

本文对陕西省的730户农户进行入户访谈调查,考察其创业自我效能感的维度;利用结构方程模型分析创业自我效能感对农民创业意向的传导作用.发现:其传导作用效果为0.746,其中直接效果为0.325,间接效果为0.421.可行性感知中介变量发挥了部分中介作用;社会环境的改变显著地影响了农民对创业观念、风险意识以及管理方式的感知.     

Career Concerns and Excessive Risk Taking

In a seminal paper, Holmström ( 1999 ) shows that an agent who is unsure of her ability and has a payoff linear in her reputation underinvests in risky projects. I show that if the agent privately knows her ability, then the opposite must happen, that is, she always overinvests in risky projects, no matter what the curvature of her payoff in reputation. Moreover, if project quality is verifiable and the agent is uninformed about her ability, then she reveals project quality and first best is attained; but if she privately knows her ability, first best is not attainable and she still overinvests.     

基于SWOT分析的大学生创业现状及创业教育对策研究

近年来,大学毕业生面对越来越残酷的就业压力,许多人选择了自主创业的发展道路。本文运用SWOT分析法,通过对大学生创业过程中的现状分析,找到其制约因素,通过社会、家庭、学校对大学生进行创业教育规划,保证其自主创业的顺利发展。     

The Entrepreneurial Theory of the Firm and the Theory of the Entrepreneurial Firm*

abstract The entrepreneurial theory of the firm argues that entrepreneurship, properly understood, is a crucial but neglected element in explaining the nature and boundaries of the firm. By contrast, the theory of the entrepreneurial firm presumably seeks not to understand the nature and boundaries of ‘the firm’ in general but rather to understand a particular type of firm: one that is entrepreneurial. This paper is an attempt to reconcile the two. After briefly delving for the concept of entrepreneurship in the work of Schumpeter, Kirzner, and (especially) Knight, the paper makes the case for the entrepreneurial theory of the firm. In such a theory, the firm exists as the solution to a coordination problem in a world of change and uncertainty, including Knightian or structural uncertainty.     

论国有企业过度负债及其对策

在推进国有企业改革和全面提高国有企业综合实力的过程中,化解国有企业过度负债已成为解决所有问题的关键。本文从国有企业过度负债的现状入手,剖析了其危害,最后针对性的提出了相关具体的对策与建议。     

关于创业意愿对创业行为作用机理的理论研究

创业意愿与创业行为间存在着一定的背离现象,为进一步揭示两者间的黑箱作用机制,以提高创业行为的实际发生率。本文通过归纳总结现有研究成果,创新性提出了基于创业认知和创业决策为中间调节变量的创业意愿作用于创业行为的机理模型;对创业意愿、创业认知、创业决策和创业行为间的相互影响进行了理论探讨和定义;对诱发创业行为的策略进行了分析,最后对后续研究进行了展望。     

“教父”王璞

这位北大纵横管理咨询集团的创始人,既是一位企业家,也是一位企业管理专家,被人尊称为“中国管理咨询教父”。