有限合伙制投资基金的两权匹配研究——基于广义资本结构视角

文章基于广义资本结构视角,研究了有限合伙制投资基金的剩余控制权和剩余索取权的匹配。结论表明两权的最优匹配是一种相机治理机制:当委托方要求的投资报酬率大于代理方要求的投资报酬率时,两权匹配应以激励为主;当委托方要求的投资报酬率小于代理方要求的投资报酬率时,两权匹配应以约束为主。     

不完全合同理论视角下渐进性创新的逆向研发外包组织模式、技术溢出与创新能力研究

既有研发外包组织理论主要基于技术优势企业视角,关注如何治理技术溢出等交易成本,忽视了缺少专利和隐性知识的企业进行渐进性创新时最优研发外包组织选择。基于不完全合同视角,从企业对研发中激励代理方努力与降低渐进性创新的不完全替代性成本之间的权衡出发,分析委托方如何合作、并购、委托以及新建研发等组织最优选择。结果表明,当委托方技术水平较低时,最优组织将需要给代理方更多控制权以激励其努力,相反,委托方则保留更多控制权以降低不完全替代性成本。委托方市场规模通过影响代理方的私人收益降低不完全替代性成本,使得委托方愿意放弃控制权以激励代理方努力。新建研发可以看作是委托方通过承担更多时间和风险成本,从而降低不完全替代性成本。在不同组织形式中,委托方对研发投入的积极性是不同的,这决定了委托方通过研发外包获得的技术溢出效应和企业创新能力。     

研发合作中的产权结构与投资激励

不完全合同背景下,产权分配在参与方的投资决策中至关重要。利用产权理论讨论了研发合作中的序贯投资决策和创新的产权分配问题。研究表明,最优产权结构随着参与方的谈判力变动,谈判力较低的一方单独拥有产权能够平衡其投资积极性;随着投资关系专用性程度的增加,最优产权为联合产权在产品开发者谈判力区间的范围更广。为了提高双方合作效率,可考虑采用由一个产品开发者出价并按照研究单位投资积极性分配初始产权的期权合同。比较分析发现：期权合同能够缓解投资不足问题,并进一步提高双方合作效率。     

论寿险代理人的续期佣金请求权

寿险公司与寿险代理人终止代理合同关系后,寿险代理人是否还有权请求保险公司支付续期佣金呢？这已成为寿险公司与寿险代理人对薄公堂争论的焦点之一。本从不同视角透视了引发争议的原因,并依据相关法律、法规分析了现实中这种矛盾与冲突产生的根源－－佣金请求权与代理权期限不一致。认为无论何种原因致使代理合同终止,寿险公司增有义务支付续期佣金,否则有失公平。     

论寿险代理人的续期佣金请求权※

寿险公司与寿险代理人终止代理合同关系后,寿险代理人是否还有权请求保险公司支付续期佣金呢?这已成为寿险公司与寿险代理人对簿公堂争论的焦点之一.本文从不同视角透视了引发争议的原因,并依据相关法律、法规分析了现实中这种矛盾与冲突产生的根源--佣金请求权与代理权期限不一致.认为无论何种原因致使代理合同终止,寿险公司均有义务支付续期佣金,否则有失公平.     

论住房抵押贷款终止偿付型理性违约

住房抵押贷款债务人不仅会进行提前偿付型理性违约 ,在相关机制不健全时也会进行终止偿付型理性违约。终止偿付型理性违约是指在住房抵押贷款存续期内 ,债务人在自身财务状况正常的情况下 ,因经济理性而从某一时刻起终止继续履行对尚欠贷款本息的偿还责任的违约行为。它发生的客观性在于住房抵押贷款债务人对所购住房损失最小化或收益最大化的财务预期能否顺利实现。建立终止偿付型理性违约发生的条件模型 ,可找出抵押率、贷期、已还款量和已履约时间等变量与条件模型的内在关系 ,进而设计出我国金融机构主动防范终止偿付型理性违约风险的思路。     

基于特大型工程项目和谐管理的激励合同设计

特大型工程项目和谐管理是业主激励设计、监理、承包商等多代理人,围绕"3 N"多任务和谐主题,建设和谐工程的过程.激励合同设计包括:构建激励合同网络,传导和谐主题;完善激励合同结构,实现和谐管理;对代理人个体差别化激励;对代理人团队的激励,利用控制权的"状态依存权"机制,消减高度不确定性风险.     

基于特大型工程项目和谐管理的激励合同设计

特大型工程项目和谐管理是业主激励设计、监理、承包商等多代理人,围绕“3＋N”多任务和谐主题,建设和谐工程的过程。激励合同设计包括：构建激励合同网络,传导和谐主题;完善激励合同结构,实现和谐管理;对代理人个体差别化激励;对代理入团队的激励;利用控制权的“状态依存权”机制,消减高度不确定性风险。     

具有溢出效应的纵向R&D合作

对于上游及下游两个行业各有两个企业的情形,考虑行业内部及行业之间的溢出效应,建立了一个三阶段博弈模型。第一阶段,上游企业决定选择研发投资;第二阶段,上游企业选择中间产品产量;第三阶段,下游企业选择最终产品产量并在产品市场进行竞争。运用逆向归纳法进行求解,并就上、下游企业选择在研发上的合作与不合作两种情况进行分析和比较,得出行业内部以及两个行业的上、下游企业之间存在稳定均衡的结论。     

委托人是否应当直接承担责任

我公司于94年委托一家贸易公司在山东某地收购一批针棉织品,双方签订的合同约定:由被委托方以自己的名义与供货方签订购货合同,被委托方则从双方共管帐户上向供货方支付货款,我公司(委托方)按收到货物的实际数量向被委托方支付一定的代理费.不久,由于供货方和被委托方因合同履行的付款问题发生争议,供货方遂在当地以被委托方为被申请人提起仲裁,仲裁机构又追加了我公司为共同被申请人,而我公司并非是该购货合同的签约人.请问:我公司作为委托人是否应当成为供货方与被委托方发生的合同争议的共同被申请人,是否应当直接承担本案的法律责任?     

John Stuart Mill's Theory Of Justice

John Stuart Mill has traditionally been portrayed as self-contradictory and failing to construct a unified social theory. Recent scholarship, however, has challenged this view, finding Mill's work to be creatively synthetic in bridging the antinomies inherent in liberal democratic thought. This revisionist interpretation of Mill is advanced by an understanding of his theory of justice and its role in shaping his policy positions on issues such as welfare, education, voting rights, property rights, taxation, government intervention, and the future of capitalism.     

A Rich Vein for “Reality Mining”北大核心CSSCISSCI

Arik Hesseldahl In the aftermath of the September 11 attacks, U.S. officials quickly turned their attention to other potential targets, including California's Golden Gate Bridge. What would happen if terrorists took down the bridge between San Francisco and Marin County? How much of the region would be affected and for how long?     

John Stuart Mill's Theories of Wealth and Income Distribution

Although he was much influenced by David Ricardo when he wrote the classical part of his Principles , John Stuart Mill was not a Ricardian when he penned his theories of wealth and distribution. They are based on a triple foundation. First, a belief that economics is a moral discipline. Second a theory of custom-driven human behavior. Third, an empirically formed conviction that the institutions of state, education and business cooperate to structure the distribution of income. On the basis of these presuppositions, Mill formulated 1) an institutional theory of the formation of human and non-human wealth and 2) an even more institutional theory of distribution demonstrating how the aforementioned institutions malignantly skew the distribution of income to the advantage of the propertied classes and to the extreme disadvantage of the working class. As a social economist, Mill recommended institutional reforms designed to eradicate the poverty of the working class.     

中国养活自己能力的长期预测:技术和政策分析

中国拥有世界五分之一强的人口 ,收入又在迅速增长。因此 ,国际上很自然地会考虑或推测她在今后的几十年是否有能力养活自己。中国的人口预计将从 2 0 0 0年的 1 2 8亿增长到 2 0 2 0年的 1 4 6亿 ,和 2 0 3 0年的 1 4 9亿。与此同时 ,人均收入的增长将导致对家畜和鱼类产品更大的需求 ,因而对饲料的需求也将有很大的增长     

Toward a Phylogenetic Reconstruction of Organizational Life

Synopsis Classification is an important activity that facilitates theory development in many academic disciplines. Scholars in fields such as organizational science, management science and economics and have long recognized that classification offers an approach for ordering and understanding the diversity of organizational taxa (groups of one or more similar organizational entities). However, even the most prominent organizational classifications have limited utility, as they tend to be shaped by a specific research bias, inadequate units of analysis and a standard neoclassical economic view that does not naturally accommodate the disequilibrium dynamics of modern competition. The result is a relatively large number of individual and unconnected organizational classifications, which tend to ignore the processes of change responsible for organizational diversity. Collectively they fail to provide any sort of universal system for ordering, compiling and presenting knowledge on organizational diversity. This paper has two purposes. First, it reviews the general status of the major theoretical approaches to biological and organizational classification and compares the methods and resulting classifications derived from each approach. Definitions of key terms and a discussion on the three principal schools of biological classification (evolutionary systematics, phenetics and cladistics) are included in this review. Second, this paper aims to encourage critical thinking and debate about the use of the cladistic classification approach for inferring and representing the historical relationships underpinning organizational diversity. This involves examining the feasibility of applying the logic of common ancestry to populations of organizations. Consequently, this paper is exploratory and preparatory in style, with illustrations and assertions concerning the study and classification of organizational diversity.     

Information infrastructure: Who builds broadband networks?

This paper examines the essential difference between the U.S. and Japan, when one considers information infrastructure. There are seven perception gaps between the U.S. and Japan concerning Information Infrastructure policies. These gaps must be understood in order to compare the countries' governmental policies in this area. In looking at the present circumstances, the essential question to answer concerns who is to build, own and operate the network(s) of the infrastructure. Liberalization is certain to be a central factor in the ongoing telecommunications debates. Now that customers have had a taste of the liberalized market-place, the movement toward more open markets will be difficult to stop. When considering options, it is necessary to pay close attention to standardized network access and the increasingly important role software plays. These issues are causing us to take a new approach to the traditional role played by regulators. They also force a closer look at the appropriate structure of utility companies. This paper addresses the above issues in hopes of stimulating dialog on the new telecommunications infrastructure paradigm.     

海岛地区产业演替及资源基础分析--以舟山群岛为例

改革开放以来,舟山市产业构成发生了显著变化,其经济发展过程可以划分为三个阶段。1992年前,是以产业结构渔业占绝对地位的单一结构阶段;1993—1998年,以旅游业为主的第三产业快速发展阶段;上世纪末以来,又进入了新一轮的经济发展时期,即工业产值比重快速增加阶段。根据海岛的自然资源基础和特点,在新世纪的经济发展过程中,舟山市应定位为生态型的港口旅游城市。以港口及临港工业为主导,以海岛旅游和海洋经济为特色,大力发展第二产业和第三产业。海岛地区的主导产业应体现海岛资源优势及区位优势,以集群性环保型产业为主。同时由于海岛地区淡水资源缺乏,主导产业也应着重选择低耗水型产业。     

风险视角下企业治理结构和研发创新——基于委托代理模型的研究

本文基于委托代理模型,从风险的视角研究企业治理结构对研发创新能力的影响。本文构建了一个包含创新活动的委托代理模型进行理论分析,利用动态DEA 模型测算创新能力,并使用2015-2018年我国上市制造业企业数据进行实证检验。实证部分检验了理论结论:委托代理问题不利于企业提升研发创新能力,且客观风险和主观风险厌恶会加剧该负面影响。基于此,本文认为上市企业应根据企业自身研发活动特点有针对性地改善企业治理结构,提出了适当延长代理人任期、推动股权激励计划、提升代理人的风险承担能力等建议。     

生物群落结构原型的仿生学模拟

模拟生命系统管理规律的科学即管理仿生学,是知识时代仿生学研究的新领域与前沿.基于模拟生物群落结构规律的研究目的,采用仿生学模拟的研究方法,以生物群落结构为原型,建立了仿生群落结构模型.结论为:垂直结构、水平结构、时间结构与交错区结构是支持生物群落生命活动的结构规律,以该规律为原型,推理建立了仿生分层结构、仿生优化结构、仿生动态结构与仿生相邻结构,四种仿生结构分别侧重于管理资源的分层管理、局部优化管理、动态过程管理、相邻关系管理,该模型为建立类似生物群落的人造管理系统即仿生群落管理系统提供了仿生结构模型.可以预测,该模型具有广泛的应用价值,能够推动管理仿生学的发展.