国企经营者报酬问题之我见

经营者报酬确定的依据有：经营者的人力资本成本，经营者人力资本所创造的价值。经营者人才的供求状况等，我国企业经营者的报酬体现不出其经营业绩，由于国有企业的特殊性，国企经营者的报酬体系设计，除考虑基薪和奖励报酬外，最主要的是要建立国企经营者的特殊高额退休金制度，提高其退休金期望，才能起到长期激励的效果。     

基于产权视角的国企经营者的人力资本价值分析

从经济学的角度讲,国企经营者不是企业家,而是具有企业家精神的职业经理人。国企经营者受托管理国有企业,企业通过经营管理者的经营实现保值增值。国企经营者是异质型人力资本所有者,其人力资本价值可以通过保值价值、增值价值和分享价值来描述,在实现企业价值最大化的同时实现其自身价值,分享企业成长的成果。     

关于国企经营者管理贡献社会评价的理论思考

客观评价国企经营者的管理贡献是保证国企经营者收入分配合理性的要求.微观经济业绩是以资源环境为代价的,因此将其作为评价国企经营者管理贡献及获取激励报酬的依据,显然是不合理的.本文从社会经济福利角度,对国企经营者的管理贡献的评价进行了尝试性的理论思考.     

美、日、德三国企业经营者年薪制概览

经营者年薪制是随着现代企业制度和经理人阶层的出现而发展起来的，至今已有数十年的历史。目前．发达的市场经济国家的企业普遍实行这一制度。它是一种以企业一个生产经营周期，即以年度为单位确定经营者（高级管理人员．如董事长、副董事长、总经理、副总经理、财务总监、会计主管、总律师和首席经济专家等）的基本报酬．并视其经营成果浮动发放风险收入的工资制度。在实行年薪制的企业．经营者的年薪收入主要由基薪和风险收入两部分构成．其中．基薪即工资或薪金，风险收入包括奖金、股票和股票期权。在年薪收入中，基薪和奖金是短期激励部分，股票和股票期权是长期激励部分。年薪收入不是经营者的全部报酬．经营者的全部报酬除年薪收入外包括预支退休金、福利津贴和在职消费等。经营者的这些全部报酬通称“经理报酬”。     

谈企业经营者股票期权激励机制

经济责任考核作为一种激励机制，被越来越多的企业采用，其作用是显而易见的。首先，它打破了计划经济的平均主义分配方式，使经营者的报酬与他的经营能力和当年业绩紧密挂钩，拉开了收入差距，极大地调动了公司经营者的工作积极性和创造性，从而提高了工作效益和经营质量，使公司的经济效益逐年稳步增长。其次，公司经营者的责任意识和风险意识也普遍得到了加强。随着国企改革的不断深入，企业治理结构的不断完善和现代企业制度的建立，迫切需要健全对国企经营者的长期激励机制。笔者认为，股票期权制的引入可以成为解决国企经营者长期激励…     

基于人力资本视角的国企经营者激励约束机制的创新

激励约束机制是发挥国企经营者积极性、主动性和创造性的前提和基础。本文以人力资本产权理论为基础,从薪酬、控制权、声誉和市场竞争等方面分析了国企经营者激励约束机制所面临的困境,从国企内部治理、薪酬激励、绩效考核和经营者的市场化选择等方面提出了改进的建议。     

构建激励机制对企业人力资本的意义和实现方式

在企业这个以赢利为目的的经济组织中,人力资本是不可或缺的。在诸多的人力资本中,经营者对企业的经营和发展起着重要的作用,经营者激励机制的滞后,不仅直接导致经营者人才的流失,而且还间接影响到企业的经营状况和企业竞争力。在几十年国企改革的进程中,一直存在着对国企企业家的人力资本重视不够,缺乏有效的激励机制的现象,使国企的经营缺乏动力和活力,经营效率低下,改革步履缓慢。因此,重视企业家的人力资本,建立有效的激励机制对于国有企业改革具有十分重要的意义。     

以风险投资扶持管理团队收购--浅谈支持经营者持股的一个重要方式

企业是由非人力资本的所有者和人力资本的所有者共同组成的一个合成性的组织,恰当地对控制权和剩余索取权进行优化配置,使得企业经营者所获得的报酬与经营成果相连,拥有部分剩余索取权,即所谓经营者持股,这对于建立起激励约束兼容机制,大大调动经营者的积极性,是十分必要的。因此,在支持经营者持股的问题上,为其寻找并提供强大的融资服务是一个迫切的问题。     

论国企经营者激励机制

国企经营者激励机制是企业的根本机制 ,激励机制难以建立的原因在于经营者没有作为独立的阶层得到社会认可 ,企业经济效益不佳 ,经营者职位消费不规范 ,经营业绩考核标准不科学等。建立经营者激励机制的对策在于建立经营者的选拔、任用、淘汰机制 ,建立科学的经营业绩评价体系 ,改进经营者职位消费 ,建立经营者报酬激励体系等     

股票期权激励制度的理论基础

股票期权激励是企业资产所有者对经营者实行的一种长期激励的报酬制度。其理论基础有委托代理理论、人力资本理论、交易费用理论、内部人控制理论、需要层次理论等。本文通过分析讨论股票期权激励制度的理论基础,得出股票期权激励制度将经营者的收益与企业效益联系在起来,建立二者之间的正相关关系,使经营者更加关心投资者的利益和资产的保值与增值。     

企业专用性人力资本与企业绩效——基于我国上市公司的实证研究

文章利用我国上市公司的数据,以总经理为研究对象,以总经理的企业任期作为企业专用性人力资本的替代变量,研究企业专用性人力资本与企业绩效之间的关系,结果表明：企业专用性人力资本与企业绩效之间呈U型关系,即随着企业专用性人力资本的增加,企业绩效呈现出先下降后上升的态势。因此,为了提高企业的绩效水平,企业应对新雇佣的总经理进行在职培训,采取各种措施激励其进行企业专用性人力资本投资,并保护其投资的准租不被侵占;搭建良好的信息交流平台,减少企业内部的交易成本,以有效缩短总经理与企业之间的磨合期,促进隐性知识的转化与学习。     

国有股流通方案研究

当前，国有股不流通已成为我国国有企业发展、整体资本市场健全和国民经济结构调整的一大障碍，国有股流通势在必行。真正实现国有股流通还得分清上市介司不同情况，采取相应策略，分步实施：配合国有股流通方案，建立各项基金，增加资金供给；实现国有股流通资金有效回收和再运行；理清国有资产管理邯门和证券管理部门的业务职能，加大管理力度。     

How to support the management of intangibles

The main objective of this work is the application of the concept of intellectual capital to management for business development and innovation. Concretely, we propose strengthening the ‘Intellectus’ model of intellectual capital by combining it with a multicriteria methodology called the ‘analytic hierarchy process’. The proposed methodology seeks to facilitate decision making by managers in focusing actions and resources to innovate and improve the value of their services to their clients. In particular, an application was made to the banking service sector in Chile, to identify the intangibles of greater importance in loyalty-building of clients. We identified technological capital, human capital and business capital as the intangibles with the highest priorities.     

International diversification of the emerging-market enterprises: A multi-level examination

This study develops a cross-level research model based on insights from the capabilities view and institutional theory. We examine the drivers of international diversification for firms from emerging economies, specifically how top managers’ prior experiences and a favorable institutional environment for human capital affects the international diversification of emerging-market enterprises (EMEs). This research demonstrates that firm- and country-level factors collectively influence the international diversification of EMEs. We find that an EME whose top managers have global managerial and technological experiences is more likely to venture into international markets when a favorable institutional environment provides globally competitive, highly skilled human capital. This study demonstrates that for a multidimensional phenomenon such as EMEs’ international diversification, a more complete picture emerges given a theoretical framework that builds on diverse perspectives which are empirically tested across levels.     

International work experience: Is it really accelerating the way to the management board of MNCs?

International work experience is often claimed to be a prerequisite for managers in an MNC. This paper investigates how international work experience affects those managers who reach upper echelons. Drawing on both human capital theory and elite theory, we argue that stays abroad not only have beneficial, but also adverse effects on managers’ ascent to the top. By analysing the careers of 212 management board members from Germany, we find that once a certain threshold of international work experience is exceeded, being away from home impedes managers’ long-term career advancement. However, it is not only longer stays abroad that show a negative time effect; we are also able to reveal that being in countries with high geographic and cultural distance to the home country significantly decelerates managers’ speed of being appointed to the management board. Our findings demonstrate that conflicting interests exist between MNCs and high potentials who consider an international career. We stress that these conflicts call for being solved in managerial practice.     

Intellectual Capital and the New Wealth of Nations II

In the second part of his analysis of intellectual capital and the issues it raises for managers, the author concentrates on the distinction between intellectual capital and human capital. In particular, he argues that intellectual capital is far more important than human capital in economic growth, the creation of wealth and competitive advantage. He concludes with a discussion of why business education has not made intellectual capital central to its curriculum despite its importance.     

What makes a brand manager effective?

Brands have become increasingly important as a foundation for competitive strategy. Unfortunately, although brand managers are responsible for brand strategy development and execution, little is known about what makes a brand manager effective. A model is developed to understand what intangible capital embodied by brand managers influences brand management capabilities and resultant brand performance. Measures of brand manager intangible capital and brand management capabilities are developed through an iterative scale development process. Hypothesis testing, derived from a survey of brand managers, indicates that brand manager human, relational and informational capital influences brand management capabilities and resultant brand performance, and brand manager intangible capital has an indirect effect on brand performance via brand management capabilities. By delineating and operationalizing the intangible capital and capabilities of brand managers, this study provides a theoretical and empirical foundation for future research on brand managers, tools for assessing current brand manager capital and capabilities, and guidance in relation to intangible capital and capabilities needed by brand managers.     

Provision of human capital by business schools of Pakistan: A need for the sustainability of the Pakistani banking sector

Economic growth of Pakistan through the banking sector relies heavily on the human capital dispensed to them by the Pakistani business schools. A conceptual model of the continuous improvement cycle for building human capital is developed through a literature review, with the aim of helping to generate human capital. Six semistructured interviews were conducted with bank branch managers and eight junior bank managers to gauge the extent to which this model was being followed so that the growth in the Pakistani banking sector remains. The results showed that a linear model was currently in place where there was no room for continuous improvement for building human capital for the banking sector.     

The role of top management team human capital in venture capital markets: Evidence from first-time funds

This paper examines whether the human capital of first-time venture capital fund management teams can predict fund performance and finds that it can. I find that fund management teams with more task-specific human capital, as measured by more managers having past experience as venture capitalists and by more managers having past experience as executives at start-up companies, manage funds with greater fractions of portfolio company exits. I also find that fund management teams with more industry-specific human capital in strategy and management consulting and, to a lesser extent, engineering and non-venture finance manage funds with greater fractions of portfolio company exits. Perhaps counter-intuitively, I find that fund management teams that have more general human capital in business administration, as measured by more managers having MBAs, manage funds with lower fractions of portfolio company exits. Overall, measures of task- and industry-specific human capital are stronger predictors of fund performance than are measures of general human capital.     

The career path to instructional design project management: an expert perspective from the US professional services sector

There are well‐documented competency standards for instructional/training designers and for project managers. However, there is little research about what skills and abilities employers expect from those seeking to become instructional/training design project managers, particularly within specific industry sectors. Focusing on the US professional services sector, the sector in which firms have a global impact and in which human capital is the largest asset, this article addresses the ‘must have’ skills/competencies, characteristics and organizational conditions associated with career advancement from instructional designer to instructional design project manager by means of an expert study that is grounded in an in‐depth literature review. In addition to enhancing knowledge of instructional designers’ competency development for career advancement in the professional services sector, this study also offers some concrete recommendations and implications for research and practice.