Opinions On the Benefits of Employee Share Ownership: A Comparison Between Managers of Two New Zealand Companies

Stephen Keef, who is a Senior Lecturer in the Faculty of Commerce and Administration at Victoria University of Wellington in New Zealand, reports on an investigation designed to determine the degree that opinions on the benefits of employee share ownership differed between managers of two organisations. Analyses of covariance showed that it was not possible, in a practical sense, to distinguish between the two firms. He goes on to consider the implications of these results.     

我国员工持股计划制度设计的整体思路研究

员工持股计划的实施,我国的理论界存在着许多争议,本文就我国实施员工持股计划的理论基础、可行性及动因进行系统分析,并对我国实施员工持股计划制度设计的整体思路做了较深入的探讨。     

员工持股、管理层权力与盈余管理

本文选择2010-2017年沪深两市A股上市企业为研究样本,采用实证研究法对员工持股视角下管理层权力与盈余管理相关性进行分析,发现:管理层权力与盈余管理之间显著正相关;员工持股与盈余管理之间显著负相关,且能显著削弱管理层权力对盈余管理的促进作用。     

员工股票期权的确认与计量问题研究

随着员工股权报酬机制作为一种有效的激励手段在企业中的广泛应用，如何在会计系统中反映这一交易已成为各国会计准则制定机构研究的重点。本分析了目前国内外在员工股票期权的会计确认与计量方面所存在的主要问题，并提出了自己的看法，以为我国建立相应的准则提供参考。     

The Impact of Managerial Quality on Employee Turnover

Abstract

This paper empirically examines, at the organizational level, the impact of quality public managers on turnover. Quality managers can influence turnover through human capital management, budgeting, setting tasks and providing goals. However, their ability to affect turnover depends on managerial level, which in this study are the upper and middle levels. Managerial quality is operationalized with superintendent and principal salaries and turnover is operationalized with the retention rate of teachers in school districts. The findings reveal that quality middle managers exert a significant and negative effect on organizational turnover and quality upper level managers do not directly influence turnover.     

工作与家庭支持对员工创造力的影响

由于现代社会发展极快,所以需要现代企业不断调整与改革。在这种情况下,社会各界开始注重员工的创造力,并将创造力作为人资管理的重点内容。基于此,论文针对工作与家庭支持对员工创造力的影响展开全面探究。     

股权结构对现金红利的影响研究

与西方传统红利政策理论形成显著对照的是,在我国上市公司特殊股权结构状况下,现金红利的发放往往是大股东侵占小股东利益的一种重要方式.通过对股权集中度、前几大股东的股权结构及其性质对现金红利政策的影响研究,结果表明,第一大股东的权力越大,越倾向于发放更多的现金红利;其他大股东对于第一大股东的相对权力较大时发放红利的数量也较少;而前几大股东的所有权性质则决定了股东之间是"制衡"还是"共谋"关系,相同的股权性质容易形成共谋从而发放较多的现金红利,不同的股权性质存在制衡因此发放红利较少;大股东变换也对红利政策的改变产生影响.     

工业贸易结构变化对我国就业的影响

本文对我国工业制成品贸易结构变动的就业效应进行了系统的研究。首先建立了一个简明的理论分析框架,在劳动市场需求方短边均衡的假设下探讨了贸易结构的变动对我国就业的影响。在随后的经验研究中,本文采用了投入产出分析方法,并建立了贸易结构变化影响就业的偏差分析模型,对1992-2003年我国工业制成品贸易结构变化对劳动力使用的影响进行了测量。研究表明,1992-2003年我国工业制成品贸易结构变化对就业产生了不利的影响。     

Worker Ownership and Participation in the Context of Social Change

A bstract . A massive volume of literature has been generated over recent years concerning the nature of work organizations and resultant effects upon worker satisfaction and enterprise efficiency. Between extreme radical and conservative views, a good deal of attention has focused on worker ownership and the locus of power in the organization. Worker ownership can lead to beneficial results, but only if carefully structured. Worker participation in decision making is the key, but the transfer from authoritarianism is difficult. Any substantial transfer of enterprise ownership is remote. Even transformation to greater power sharing, short of ownership change, will be slow and fragile.     

Disclosure, Corporate Governance and Foreign Share Ownership on the Zimbabwe Stock Exchange

We investigate the association of foreign share ownership with firm‐level disclosure and corporate governance structures in Zimbabwe, a developing country in Southern Africa. Our motivation for the study derives from the literature, which suggests that foreign investors: (1) generally have a preference for companies in which they are well informed and where their investments are more likely to be protected, and (2) avoid companies in developing countries because of weak corporate governance structures and low disclosure. Using data drawn from companies listed on the Zimbabwe Stock Exchange, we examine the effect of disclosure and corporate governance on foreign share ownership. We find that disclosure, proportion of non‐executive directors, institutional share ownership and audit committee independence are all positively and significantly associated with foreign share ownership. Our results also demonstrate that market capitalization, return on equity and liquidity ratios are significantly associated with foreign share ownership. These results are consistent with the notion that foreign investors have a preference for companies with effective corporate governance structures, companies with less information asymmetry, as well as companies with healthy cash positions. The results have implications for policy‐makers in developing countries in their endeavour to improve liquidity on stock markets through the participation of foreign investors. The results are also useful to managers in developing countries who are keen to increase the market value of their company, thereby reducing their cost of capital.     

The Influence of Environmental Pressures, Diversification Strategy, and Union/Nonunion Setting on Employee Participation

This study tests the hypotheses that environment, diversification strategy, and union/nonunion setting affect the number and variety of employee participation programs. A survey of large U.S. manufacturing firms measured the implementation of employee participation programs. Regression results suggest that environmental pressures exert a direct effect on participation in union settings. However, in nonunion settings, environment and diversification strategy both correlated directly with participation. These results suggest that unions could potentially affect participation program implementation.     

The Impact of Management Control on Employee Motivation and Performance in the Public Sector

Abstract

This study examines the relations among various types of management control, intrinsic and extrinsic motivation, and performance in the public sector. We draw on motivation crowding theory and self-determination theory to argue that four different types of management control (i.e. personnel, cultural, action, and results control) are likely to have an influence on intrinsic motivation and/or extrinsic motivation. We test a structural equation model using survey data from 105 similar departments in the public sector. Our findings indicate that the use of personnel and cultural controls is positively associated with employees’ intrinsic motivation, and that the use of results controls is positively associated with employees’ extrinsic motivation. Moreover, both intrinsic motivation and extrinsic motivation are positively associated with performance. Taken together, these findings support the idea advocated by New Public Management proponents that results control can enhance employee motivation and performance in the public sector. However, the findings also highlight an essential nuance; in addition to results control, personnel and cultural controls are also important, as they enhance intrinsic motivation and performance. This implies that a sole focus on results control is too narrow and can lead to suboptimal levels of employee motivation and performance in the public sector.     

混合所有制改革对国有企业投资效率的影响研究——基于PSM-DID方法的实证分析

文章旨在检验混合所有制改革对国有企业投资效率的影响,以2011—2015年国有上市公司平衡面板数据为基础,使用双重差分倾向得分匹配法(PSM-DID)进行研究。研究发现:在消除选择性偏差后混合所有制改革有助于提高国企的投资效率。进一步研究发现,与非管制性行业相比,管制性行业的国有企业混合所有制改革后对投资效率的提升作用更大;东部地区的国企比中西部地区国企的混合所有制改革效果更好。此外,混合所有制改革在促进企业投资效率提升的同时提高了企业价值。研究结果在一定程度上证实了国企混合所有制改革政策的积极效应,为进一步深化国企混合所有制改革提供了理论支撑。     

职工特征、股权性质与薪酬支付——来自中国上市公司的经验证据

利用2007-2011年上市公司公开披露的职工特征和薪酬信息,研究在中国特有工资制度下职工特征如何影响企业薪酬支付。研究发现:企业支付给高学历职工更高薪酬,给予不同岗位职工不同的薪酬待遇;国有产权和垄断强化了学历的工资效应,并使岗位价值贡献与薪酬支付出现错配;在岗位业绩无法准确衡量的情况下,学历对岗位薪酬有交互作用。结论表明,相对于民营企业,国有企业错配了学历与岗位薪酬。研究从企业层面提供的有关教育工资效应的经验证据是对宏观或个人层面文献的有益补充,也拓展了普通职工薪酬类文献,有助于理解职工教育特征在职工薪酬支付中的重要作用。     

角色清晰对员工敬业度的影响研究:一个被中介的调节模型

本研究从工作角色认知的视角,探究了角色清晰对员工敬业度的影响及其作用机制和边界条件.本文采取了两轮匹配的取样程序,以苏南地区服务业和制造业的613名员工为研究对象展开了实证研究.研究发现,角色清晰对员工敬业度有显著的正向影响,积极情绪在角色清晰与员工敬业度之间起部分中介作用.角色清晰与积极情绪的关系还受到领导成员交换的正向调节,进而对员工敬业度产生影响.文章还讨论了研究结果的意义和未来研究.     

股权治理结构与盈余质量:后股权分置时代的经验证据

本文以后股权分置时代为背景,以2008年非金融类上市公司为样本,研究上市公司股权治理结构与会计盈余质量之间的关系,得到以下结论:第一大股东持股比例与盈余质量显著负相关;最终控制人的国有性质与盈余质量显著正相关;其他大股东的制衡能力没有对上市公司盈余质量产生实质性的影响;当最终控制人为国有性质时,流通股比例与盈余质量显著正相关;机构投资者持股比例与盈余质量显著负相关,表明机构投资者的存在显著降低了上市公司盈余质量.