Participating in partnership: Business leaders and economic regeneration in Sheffield

In the context of changing relations between the state, business, and urban policy, this article focuses on the role of business participation in the regeneration of Sheffield. It assesses whether Sheffield's business leaders have been able to establish a distinctive business-orientated development agenda in Sheffield's regeneration coalition, and considers the extent to which business participation in urban affairs has been influenced by the restructuring of the local state by central government. A further aim of the paper is to explore the relevance of urban regime theory in interpreting the role of local business leaders in urban governance.     

A step change or a step back? the thames gateway and the re-birth of the urban development corporations

The delivery of the government's Sustainable Communities: Building for the Future proposals in the Thames Gateway area will be spearheaded by two new Urban Development Corporations (UDCs). During the 1980s and 1990s, UDCs were at the forefront of property-led regeneration in Britain and their impacts were extremely controversial. For some they represented a necessary institutional form that successfully facilitated and delivered regeneration to areas with chronic social and economic problems. For others they embodied a broader Thatcherite programme that marginalised local authorities and local communities from the heart of development planning. This paper examines their reintroduction and compares and contrasts the new agencies with those that existed in earlier decades. It argues that although the new UDCs will have broadly similar powers, the political contexts in which they are being established differ markedly. They are now expected to embed themselves into regional and national strategic development agendas and work in development partnerships with local authorities and local communities. The paper outlines the possible political and practical impacts that they will have and what their emergence tells us about the nature of Labour's broader modernisation agendas for local governance.     

公司治理视角的IT行业流程再造与导向

IT治理是一个新兴的交叉学科,已经成为公司治理研究的热点。IT治理机制是国内外IT治理研究的重要方向之一。构建新研究视角下的IT治理结构机制、治理流程机制与治理沟通机制,即基于公司治理的IT治理三要素机制,对于未来信息技术背景下的公司治理机制构建与研究具有导向作用。     

民营企业引入职业经理过程中的逆向选择问题

现有文献还没有对我国民营企业的家族化运作给出令人满意的经济学解释。本文应用逆向选择和动态匹配模型对民营企业引入职业经理的过程进行分析,尝试从经济学角度给出一个对家族制度的解释。分析表明,家族化是有关职业经理能力和忠诚度信息不对称的一个均衡,该均衡导致企业管理退化到“封闭”的家族模式。而雇主与经理人之间的互动信息揭露有助于改善这一均衡,一定程度上实现双方的“双赢”匹配。本文据此提出了一些对策建议。     

我国上市公司盈余管理程度与公司治理结构的实证研究

文章选取了我国2003年被出具了非标准审计意见的公司为样本,对其反映盈余管理程度的可操纵性应计利润进行测度。同时从董事会结构、股权结构两个方面提出了14个反映公司治理结构的解释变量,构建了一个系统的研究盈余管理与公司治理结构关系研究的概念框架,以探讨导致我国上市公司进行盈余管理的公司治理结构诱因。     

从国美之争看民营上市公司治理优化问题

从2008年底至今,国美电器大股东和职业经理人之间展开激烈的控制权争夺。对于这场争夺所折射出的中国民营企业公司治理缺陷及问题,本文将从利益相关者理论出发,探讨如何从股东权益保护、董事会设置和治理制度体系设计等方面完善公司治理,促进民营企业健康发展。     

Restructuring the electricity distribution industry: An analysis of the proposed ownership and governance structures of regional electricity distributors

The electricity distribution industry is currently fragmented and in a financial crisis. The government proposes restructuring the industry into a number of regional electricity distributors (REDs) that will take over the electricity distribution function from municipalities and Eskom, who will be given shares in the REDs in exchange for their distribution assets. It is also proposed that REDs be controlled by boards consisting of customers, trade unions, national and provincial governments, municipalities and Eskom. This article critically examines these and other restructuring options relating to the ownership and governance of REDs. It is argued that these proposals would perpetuate the inequalities that exist between historically advantaged and disadvantaged local governments; that they would extend Eskom's monopoly of the electricity industry, and that they would obstruct good governance and private investment in the sector. To conclude, the article makes a number of recommendations that would mitigate these negative consequences.     

股份制商业银行治理:基于年报的实证分析

采用2001-2003年间11家商业银行的19个年报样本为依据,对我国股份制商业银行的治理机制及其与银行绩效的关系进行实证分析,发现样本银行股权结构并没有对银行绩效产生影响,董事会规模和高管人员薪酬激励对银行绩效有积极的作用,而独立董事比例和董事会会议次数却对银行绩效产生了负面影响;此外银行规模也是提升银行绩效的重要因素。     

新型国家公共卫生信息系统建设:提高系统韧性的思考

针对此次新冠肺炎疫情暴露的短板,提出了一个利用区块链、物联网与人工智能等新一代信息技术建设国家公共卫生信息系统的韧性模型,并以技术条件、目标价值与决策机制为变量分析了新型公共卫生信息系统建设的基本原则。分布式的公共卫生数据共享平台是新型国家公共卫生信息系统的底层基础设施,建议通过机构改革,纠正现行卫生系统行政权与专业技术相分离的弊端,以社会、群体与个人的充分协作,将各种表现为数据形式的公共卫生实践,通过数据分析转换为电子病历、临床决策、政务协同、社会治理监督四大类信息,并进一步提炼整合为可供传播与决策的有效公共卫生知识,如此方能提升突发公共卫生事件的应急能力,实现公共卫生的智能化治理。     

Corporate Governance Reforms in the Post-1997 Asian Crisis: Is There Really a Convergence to the Anglo-American Model?

Abstract

Following the 1997-Asian crisis, a number of crisis-hit countries were committed to the rapid transformation of the corporate governance system to one that is modeled after the Anglo-American system. This, as the article argues, is based on a false premise, that what may have worked in the United States/United Kingdom can also be applied in East Asia. In this regard, the convergence at the firm level is seen to be more in “form” rather than in “substance”. This study assesses Singapore's corporate system in terms of its recognition of the merits of the Western model. It then details the corporate governance style of Temasek Holdings Limited (THL), a state- owned enterprise (SOE) in charge of monitoring government investments in companies. The choice of THL as a case study is based on the premise that THL operates very much like a private sector corporation. In addition, it has the ability to influence the standard of corporate governance of Singaporean SOEs. Because the SOEs are large players in their respective industries, the corporate governance of SOEs establish the standards and expectations for monitoring in non-SOEs. There are indications to suggest that the THL has taken into consideration certain aspects of corporate governance practices that may not necessarily be in line with those advocated by the Singapore government. The article argues that selective adaptation such as the style adopted in the THL more realistically portrays the corporate governance practices of East Asian corporations.     

“共同治理”的公司治理模式

传统企业理论认为公司控制权属于公司的所有者,即股东所有,公司治理奉行股东至上。新的利益相关者理论认为股东只是公司相关利益者中的一员,公司治理不能只考虑所有者,而应该是所有利益相关者参与的共同治理模式。本文揭示了共同治理模式的重要意义,并以债权人参与公司治理为例,部分地从财务角度对此作了详细分析。     

全球流动性风险和对策

借鉴国际清算银行的测量框架,本文认为,私人流动性本质上指融资意愿,具有很强的传染性和跨境传递特征;其周期波动与金融危机密切相关,与主要国际货币发行国政策取向相关,而新兴市场是全球流动性的被动接受者;有效减缓全球流动性周期波动幅度、降低跨境流动性对宏观经济和金融体系的冲击、及时提供救助以避免系统性破产,是全球流动性管理的核心目标;实现这些目标,需要一个涵盖国别、双边、区域和全球在内的应对框架和全球金融安全网;全球流动性机制建设为中国参与国际金融治理提供了契机,也为国内各项政策协调提出了挑战。     

The character and denomination of shares in the Victorian equity market1

The seminal work of J. B. Jefferys highlighted two unusual features of the Victorian equity market, namely high share denomination and uncalled capital. This article examines the extent to which publicly traded company stocks in the nineteenth century had these features. It also analyses the effect of these features on stock returns using monthly data for the London Stock Market over the period 1825–70. We find that stocks with unpaid capital earned a higher return, which is consistent with investors being rewarded for the risk of a call on their personal assets. We also find that stocks with a high share denomination earned a lower return, which is consistent with the view that this feature was conducive to superior corporate governance.     

民主执政：建设马克思主义学习型政党的重要内容

中国共产党民主执政理念的提出是一个逐步发展的历史过程，是顺应时代潮流的表现，也是对当代中国社会现实呼求的一种回应，为解决当前的社会热点问题提供了一个新的视角和框架，基于此，我们认为提高党的民主执政能力是建设马克思主义学习型政党的重要内容。     

关于中小企业发展问题的思考

本文介绍了跨国公司全球竞争优势中重要构成要素———共同管理经济性优势这一概念 ;从跨国公司共同管理活动的经济性和成本两个方面讨论了共同管理经济对跨国公司全球竞争优势的特殊意义 ,进而提出了共同管理有效边界的问题 ,并由此重点探讨了跨国公司实现共同管理边界最优化     

Damaged exports: Dynamics and limits of governance reform in Southeast Asia

Governance reform is the main policy for a number of international and domestic aid agencies. Under the rubric of governance reform are diverse programs ranging from those for anti‐corruption to those for civil society promotion programs. Although these programs have had limited success, governance programs are continually being promoted and implemented byinternational organizations and political forces in developing, newly industrialized states. Why? One reason for this persistence is that these programs—despite failing in their erstwhile objectives—nevertheless constitute a shift in modes through which power is exercised. These programs often create new modalities of political rule, which form the basis of new state strategies. This paper draws particular attention to the importance of governance programs in nurturing new forms of political rule through a process of depoliticization.     

数字金融与地方政府债务风险——基于中国省级面板数据的分析

基于中国2011—2018年29个省份的面板数据,采用双向固定效应模型多维度剖析各省数字普惠金融的发展对地方政府债务风险水平的影响机制.结果显示:数字金融的发展对地方政府债务风险水平有着显著的正向影响;地方政府的经济治理能力在数字金融与地方债务风险之间存在反向的调节效应.表明数字金融发展为地方政府带来的融资便利并不能单纯地作为管控地方债务风险的武器,有效地提高地方政府经济治理能力,正确利用数字金融发展红利才是合理管控地方债务风险、保障区域经济持续健康发展的可行之策,这为应对数字时代下地方政府的债务治理问题、防范化解系统性金融风险提供了新的思考和启示.     

业主自治的本质与实现的制度经济学分析

从制度经济学的角度,商业化住宅小区内共有部位形成的共有产权以及共同的生活区域所需的自然与人文环境构成全体业主的共享资源.由于排他性的困难,共享资源的治理一般被视为"多人囚徒困境"的博弈场景,因而业主自治制度的本质就是实现共享资源自发治理集体行动的制度安排.文章从现实生活中制度培育与演化角度,认为业主自治制度的实现需要契约和治理结构等正式制度以及群体规范等非正式制度的结合作用,并具体讨论了各自的主要内容和运行机制.     

New Labour's Evolving Regeneration Policy: The Transition from the Single Regeneration Budget to the Single Pot in Oxford

Regeneration policy under New Labour has been subject to a constant restlessness, evolving over time into a complex and diverse landscape. This paper explores how these policy changes have played themselves out in one city, Oxford, focusing on the transition from the Single Regeneration Budget initiative to the more regionally focused 'single-pot'. In doing this it charts the continuing complexities in policy focusing on the tensions between the competitiveness and social inclusion agendas and around changed governance arrangements. It identifies the restructuring of activity around social inclusion towards more economic outcomes and the difficulties of retaining community voices within regeneration activity at the sub-regional level as two particular outcomes of these changes which require further responses from all sectors involved. The paper concludes that it is unhelpful to typify such changes as a shift from one policy era to another and instead argues for a focus on the complexities, continuities and contradictions that such change reveals.