Introduction of Shanghai Hua Xin High-Biotechnology Inc.

Shanghai Hua Xin High-Biotechnology Inc., jointly sponsored by Hong Kong Pharmaceutical（Group） Co., Ltd., Shanghai Life Science Researching Institute of China Academy of Science, was founded in 1992, it is situated in Shanghai Biotechnology Industrial Garden. Prof. Liu Xinyuan, the founder of the company has been laureated three Academicians, including Academician of Chinese Academy of Science, Foreign Academician of National Academy of Ukraine, Academician of The Third World Academy of Science in 2001.     

Introduction of Shanghai Hua Xin High-Biotechnology Inc.

Shanghai Hua Xin High-Biotechnology Inc.,jointly sponsored by Hong Kong Pharmaceutical(Group) Co., Ltd., Shanghai Life Science Researching Institute of China Academy of Science, was founded in 1992, it is situated in Shanghai Biotechnology Industrial Garden. Prof. Liu Xinyuan, the founder of the company has been laureated three Academicians, including Academician of Chinese Academy of Science, Foreign Academician of National Academy of Ukraine,Academician of The Third World Academy of Science in 2001.……     

基于社区治理的人口治理

社区治理的视角对人口治理具有非常重要的理论意义。在讨论人口社区治理的内涵和特征的基础上,分析了人口社区治理主体和治理结构,提出了构建我国人口社区治理机制的对策。     

百胜全球餐饮是如何经营品牌的?

美国百胜全球餐饮公司是全球财富500强企业之一,以美国肯德基州的路易斯怀尔为基地在世界各地经营着5个餐饮服务品牌:“肯德基”炸鸡、“塔科-贝尔”、“必胜客”、“艾德熊”和“银质约翰”,它是世界上第二大特许连锁快餐馆集团,旗下拥有的餐馆遍及世界100多个国家和地区,数量超过3万家,其中约2/3分布在美国以外,其每个品牌业务在它们各自的餐馆部类中都是全球领导者。2001年整个集团系统全球销售收入超过220亿美元,净赢利4.9亿多美元。百胜餐饮的经营结构百胜餐饮下属的每一个运营分部从事由传统与非传统的快餐馆经营单位所组成的系统的运…     

Vicki Howard. Brides, Inc.: American Weddings and the Business Tradition

Ah, how straight and gay men yearn for the day that they, too,will finally receive their engagement ring. Poring over groom'smagazines, furtively trying on those tuxes in the groom's salonsdespite not even having a partner, much less an engagement—butwhen a man has that gold ring put on his finger, he knows heparticipates in the age-old traditional celebration of .... Oh, excuse me—wrong scenario. Wedding marketers, especiallyjewelers, failed in the 1930s to create the new     

基于社区治理的人口治理

社区治理的视角对人口治理具有非常重要的理论意义.在讨论人口社区治理的内涵和特征的基础上,分析了人口社区治理主体和治理结构,提出了构建我国人口社区治理机制的对策.     

A Survey of Governance Disclosures Among U.S. Firms

Recent years have featured a spate of regulatory action pertaining to the development and/or disclosure of corporate governance structures in response to financial scandals resulting in part from governance failures. During the same period, corporate governance activists and institutional investors increasingly have called for increased voluntary governance disclosure. Despite this attention, there have been relatively few comprehensive studies of governance disclosure practices and response to the regulation. In this study, we examine a sample of 50 U.S. firms and their public disclosure packages from 2004. We find a high degree of variability in the presentation and reporting format choices for many elements of the governance structure. This variability includes several items for which disclosure is mandated by regulators or legislative action. In particular, smaller firms offer fewer disclosures pertaining to independence, board selection procedures, and oversight of management (including whistleblowing procedures). There are also trends associated with board characteristics: boards that are less independent offer fewer disclosures of independence and management oversight matters. Moreover, large firms provide more disclosures of independence standards, board selection procedures, audit committee matters, management control systems, other committee matters, and whistleblowing procedures but do not appear to have a strictly superior information environment when compared to smaller firms. The findings raise questions about compliance with regulatory requirements and the degree to which conflicts of interest between managers and directors are being controlled. While there have been notable improvements in the information environment of governance disclosures, there remain structural issues that may possess negative ramifications for stakeholders.     

公司治理影响资本结构吗

本文以2004-2007年A股非金融类上市公司非平衡面板数据为研究对象,在我国特殊的制度环境下分析上市公司的公司治理与资本结构之间的关系.研究发现公司治理结构对资本结构有着十分重要的影响.该结论基本符合债务控制理论,但与西方现有文献相比仍有所不同;该结论丰富了企业融资理论,对完善我国公司治理制度和资本结构有很大意义.     

中小企业治理、治理指数与企业绩效

本文设计了中小企业治理评价指标体系,并对100家县域中小企业的治理状况进行了评价,结果显示中小企业治理指数平均值仅为33.57。实证分析表明,中小企业治理指数不能够显著解释每股收益和净资产收益率;同时也发现,第一大股东持股比例、董事会是否设立、总经理薪酬结构等对企业绩效也没有显著的影响,中小企业治理结构与机制的建立仅仅是形式上所为,最后据此给出提升中小企业治理水平的政策建议。     

Case Study in the Evolution of Sustainability: Baxter International Inc.

Baxter International Inc. (Baxter) is a global, diversified healthcare company based in Deerfield, IL. In 2011, Baxter had sales of $13.9 billion and employed approximately 48,500 people worldwide (Baxter’s 2011 Sustainability Report). Baxter is also recognized for its efforts toward environmental/sustainability performance and reporting. The company defines sustainability as ‘a long-term approach to including our social, economic and environmental responsibilities among our business priorities. Baxter’s efforts in this area align with and support our mission of saving and sustaining lives.’ This case study attempts to analyze the progress of the company on its journey along the path toward sustainability. The formal environmental initiatives at Baxter were started in the 1970s. The acquisition of American Hospital Supply Corporation intensified the environmental challenges for the company. A new environmental course was set in the 1990s that led to the development of the State-of-the-Art (SOA) Environmental Standards. At this time, the company started measuring its efforts and began publishing an Environmental Financial Statement in its annual public Environmental Report. In 2005, an executive level Sustainability Steering Committee was proposed and subsequently created in 2006 to accelerate the integration of sustainability within all facets of the organization. This case study articulates the evolution of Sustainability at Baxter Inc. As a result of its efforts, Baxter has received numerous awards and accolades for its efforts in sustainability performance and reporting. For example, in 2011 Newsweek Magazine ranked Baxter the 4th greenest company in the United States (Newsweek Magazine, October 17, 2011, accessed online at http://www.baxter.com/press_room/features/2011/newsweek_green_rankings.html). Going forward, it would be noteworthy to see whether Baxter can keep up its momentum and continue to be a sustainability leader.     

腾讯智慧：填补无效营销“黑洞”

“我知道我的广告费有一半被浪费掉了，但我不知道是哪一半。”美国第一个现代意义上的广告商人约翰·沃纳梅克（John Wanamaker）的这句话作为影响整个20世纪的营销格言，道跛了营销管理中最令人头疼的提高有效性问题。一个世纪以来，广告主前赴后继，为的一就是填满那“50％”的“营销黑洞”。     

优化公司治理结构 提高公司治理效率

公司治理结构是公司的核心制度,建立良好的治理结构可以提供有效的监督,从而激励公司更有效地利用资源,保证公司高效运行和良性循环,提高公司治理效率。通过分析公司治理结构构成的股权结构、资本结构和委托代理三要素与公司治理效率的相互影响、互为因果关系,并从三要素详细阐述了如何最大程度降低公司治理成本,同时获得最大的公司治理收益,进而保护股东、债权人和其他利益相关者的利益,以实现公司的高效运行和可持续发展。     

Toward a More Humanistic Governance Model: Network Governance Structures

This conceptual article suggests a reexamination of current governance structures, specifically those of unitary boards after the financial crisis of 2008. We suggest that the existing governance structures are based on an outdated paradigm of business, rooted in economics. We propose an alternative paradigm, a more humanistic paradigm, which allows conceiving alternative, network-oriented governance structures. As hierarchical firms grow larger and more complex, the risk of failure increases from biases, errors, and missing data in communication and control systems. These problems are exacerbated by information overload on senior managers, directors, and their respective regulators. In contrast to traditional corporate governance, network governance introduces a division of power via multiple boards, checks and balances, and active stakeholder engagement. We argue that those features could have prevented the stresses and failures of financial firms in 2008, since they were anticipated by both individuals within firms and external commentators. However, those exposed to risks possessed insufficient influence in either governing and/or regulating firms to take corrective action.     

中小企业财务治理问题探讨

企业具体的财务管理活动要以财务治理战略为导向,而我国中小企业由于历史发展的原因,其财务治理结构不受重视,存在着诸多问题。从战略导向的角度来建立良好的财务治理机制,为解决中小企业具体的财务管理问题提供了一个新视角。     

Crisis of Governance

Abstract

This paper looks at links between firms' behavior and the institutional environment in Russia. It seeks to show that the intentional weakening of the economic and administrative role of the state in the early stages of reforms has increased the economic and social cost of transition. This happens as the majority of firms in Russia still prefer short-term solutions and partial adjustment to full-scale restructuring as they often fail to show anticipated responses following privatization and price liberalization. The shortage of market-type response can be attributed to the fragility of market-based incentives. The new institutional economics maintains that the cradle for these incentives is the system of institutions, which are the rules of the game in the society or, more formally, the humanly-devised constraints that shape human interactions. Accordingly, this paper argues that for the post-communist reforms to achieve their objectives, it is essential for the state to provide a framework, institutionalizing economic conflict and thus contributing to sustainable development. However, the analysis suggests that the evolvement of a modern institutional rëgime in the country is likely to be delayed as a consequence of vested interest of a number of powerful economic groups.     

公司财务治理研究综述

公司治理是一个国际性的前沿课题。财务治理是公司治理的核心。我国对公司治理的研究是从20世纪90年代开始的,财务治理的研究还处于初级阶段,深入研究财务治理理论和实践具有重要的理论和实践意义。其主要内容包括财务治理的研究背景;财务治理的研究动态;财务治理理论的发展方向。