浅论国有企业引进战略投资者的策略分析

国有企业引进战略投资者的主要目的就是借助战略投资者的技术、管理、市场和资金优势做强做大企业。因为企业资金、管理、技术、销售渠道和客户资源等因素是企业生产经营的基本构件,它们之间有着紧密的有机联系,如果其中某个构件存在缺失或不足,就会使其他的要素优势发挥不出来,从而成为这个有机整体的“短板”,造成企业既有资源闲置又有资源不足的低效率局面。企业引进战略投资者就是借助外力补长这块“短板”,使企业的核心竞争力得以全面充分地发挥作用。本文就国有企业引进战略投资者的策略、风险等方面展开讨论。     

国有企业引进战略投资者的影响因素与策略分析

引进战略投资者是当前国有企业改革与发展的一种重要模式,也是一项十分复杂的系统性工程。国有企业要成功引进战略投资者应具备一些必要的基本条件,同时充分认识到可能存在的一些风险因素,并做好引进的准备工作,采取有效措施保证企业价值的实现。     

网络公司引进战略投资者的作用及策略

21世纪是互联网的时代,网络行业在我国大地上显出蓬勃生机,但是网络公司的发展在某些方面遇到了瓶颈,在我国积极引入战略投资者的大背景下,网络公司也开始把目光转向战略投资者。为了更好的合作网络公司应采取如下策略:选择与自身匹配的战略投资者;甄选战略投资者;有关合作条款的其他重要问题。     

从引进境外战略投资者看我国银行业的改革

随着我国银行业改革推进和对外开放的进一步扩大,出现了一个现象,大中小商业银行都通过出让部分股权的方式,纷纷引进境外战略投资者。本文就这一现象分析了引进境外战略投资者对我国银行业改革的重要作用,并在分析外资参股的模式和特点的基础上,探讨了我国银行业在引进境外战略投资者过程中面临的问题及对策,以期更好地实现战略引资的目的,促进我国银行业的改革,提高我国银行业的核心竞争力。     

从引进境外战略投资者看我国银行业的改革

随着我国银行业改革推进和对外开放的进一步扩大,出现了一个现象,大中小商业银行都通过出让部分股权的方式,纷纷引进境外战略投资者.本文就这一现象分析了引进境外战略投资者对我国银行业改革的重要作用,并在分析外资参股的模式和特点的基础上,探讨了我国银行业在引进境外战略投资者过程中面临的问题及对策,以期更好地实现战略引资的目的,促进我国银行业的改革,提高我国银行业的核心竞争力.     

浅析我国商业银行引进战略投资者的利和弊

20多年来,国有商业银行经历了从大一统到专业化再到市场化以及在具体的经营方式和管理制度方面的大大小小的改革,尽管取得了一定的成效,但总体来看成效不明显,于是我国商业银行想引进战略投资者来推进我国银行的体制改革。本文分析了引进战略投资者给我国商业银行带来好处的同时。还带来一些问题和风险.针对这些问题和风险提出了相应的建议。     

关于国有商业银行引进海外战略投资者的思考

近年来，我国商业银行股份制改革几乎无一例外的采用了引进海外战略投资者的做法，但国内各界对这种方式一直褒贬不一，该文首先介绍我国引进海外战略投资者的现状，并探究这种形式背后的深层经济动机，最终提出一些自己的思考与建议。     

企业低成本战略的风险与防范策略研究

企业低成本战略可能导致产品质量降低、战略灵活性减弱、应对外部冲击能力弱化等风险,可以从创新性的推动成本控制,实施战略联盟加强战略合作,注重创新保持竞争优势等方面加以防范.     

中资商业银行引进境外战略投资者的效用与金融安全探析

随着我国银行金融体制改革的深入与美国金融危机影响的延续,中资银行引进战略投资与国家金融安全成为了关注的焦点之一,文章从价值效用与金融安全监管两方面对我国商业银行引进境外投资者行为进行了系统分析,并结合当前美国金融危机,与国内外经验实例,为我国银行金融体制改革提出了针对性的政策建议。     

我国国有商业银行引进战略投资者的利弊评析及建议

近年来四大国有商业银行在经历注资、剥离不良资产等一系列财务重组改革后纷纷引进战略投资者,已成为我国银行业改革的一大亮点。在2006年我国银行业即将全面对外开放之际,本文通过分析我国国有商业银行引进战略投资者的利弊得失,提出银行业改革和化解金融风险的建议。     

银行风险防范策略分析

随着人们对金融风险的重视,商业银行风险管理的内涵和理念不断深化.本文通过回顾商业银行风险管理的基本理论,分析了我国国有商业银行风险管理存在的问题,并提出了解决对策.     

Implications of strategic alliances for earnings quality and capital market investors

Strategic alliances are well-established organizational forms and a means of strategy implementation. Despite their growing pervasiveness in the economy, existent literature provides few insights about earnings quality of strategic alliances. This challenge is especially severe in contractual alliances (CAs), where firms do not form a new corporate entity that is separate from the parent organization in comparison to joint ventures (JVs). We investigate how earnings attributes differ depending on involvement in strategic alliances of 8137 CAs and 3026 JVs spanning 1997–2007. We find, in particular, that earnings attributes of firms involved in contractual alliances are broadly reflective of low underlying accounting quality. Relative to JV firms and non-alliance (NA) firms, they have higher levels of discretionary accruals, lower accrual quality, and earnings that are less persistent, less smooth, less relevant, less timely, and less conservative. They also have lower earnings response coefficients.     

From foreign investors to strategic insiders: Shifting parameters,prescriptions and paradigms for MNCs in China

Multinational corporations (MNCs) entering and operating in China have been significantly changing their dominant strategies over the past two decades to cope with China's shifting competitive and regulatory environments. The new strategies have resulted in a status shift such that MNCs are no longer merely “foreign investors”; they have become “strategic insiders” who view their large-scale China operations as key to their overall corporate success. To provide an overarching picture of this status shift, this article identifies and discusses shifting competitive parameters facing MNCs (from scant to strong competition, from niche to massive competition, from single- to multi-market competition and from structural similarity to multiplicity), as well as the shifting regulatory parameters they face (from entrance to operational intervention, from separation to convergence with domestic policies and from national control to regional regulation). This article also analyzes the shifting dominant strategies MNCs use to deal with changing environmental landscapes, including shifts from parent to national integration, from production relocation to value chain localization, from competence transfer to competence building, from competition to coopetition, from repetition to adaptive diversification and from alliance building to restructuring. This article concludes by discussing how the above strategic shifts provoke the extension and rethinking of extant MNC theories and what future issues merit particular attention.     

The role of financial investors in determining the commodity futures risk premium

I develop and test a model to study the interaction between the commodity and stock markets. This study attempts to clarify the debate about the effect of financialization on commodity markets. Theoretically, the futures risk premium is determined by hedging pressure, stock market returns, and the commodity–equity correlation. Empirically, the effect of the stock market on the energy market became significantly greater for the futures risk premium in the period following the 2008 crisis. Furthermore, hedging pressure is a strong explanatory variable for the futures risk premium in various circumstances.     

会计电算化的风险与防范

在会计工作中应用电子计算机和现代信息技术,实现会计电算化,大大提高了会计工作质量和会计工作效率.会计电算化越来越被各个单位所重视,普及率也越来越高.但由于会计传统的核算环境、信息载体、管理模式、安全控制体系均发生了变化,而且随着电子计算机、信息技术的飞速发展和会计改革的不断深化,电算化将面临众多新的挑战,电算化安全是面临的挑战之一.会计软件购置、操作使用及会计电子信息存放中存在的风险是会计电算化实施过程中非常现实、必须正确面对的问题.文章就该问题作了分析,提出了相应的防范风险的措施.     

企业财务风险预防问题的探讨

文章对如何防范企业财务风险问题进行了说明.     

The interface of market and nonmarket strategies: Political ties and strategic competitive actions

We focus on corporate political connections as a critical nonmarket strategy and propose that political ties can facilitate firms’ strategic competitive actions but may also hurt the outcomes of such actions, depending on whether the ties are associated to central versus local political actors. Studying China's television manufacturers at the onset of deregulation and globalization, we find that central and local political ties have contrasting effects on firms’ competitive actions and their performance outcomes. To further shed light on theoretical mechanisms, we examine the impact of China's WTO accession on firm actions and contrast domestic-based and internationalization competitive actions.     

关于应收账款的风险防范

加强应收账款管理并不意味着企业不能拥有应收账款,而是应将其控制在一定的合理范围内.     

Managers, investors, and crises: mutual fund strategies in emerging markets

We examine the trading strategies of mutual funds in emerging markets. We develop a method for disentangling the behavior of fund managers from that of underlying investors. For both managers and investors, we strongly reject the null hypothesis of no momentum trading: mutual funds systematically sell losers and buy winners. Selling current losers and buying current winners is stronger during crises, and equally strong for managers and investors. Selling past losers and buying past winners is stronger for managers. Managers and investors also practice contagion trading—they sell (buy) assets from one country when asset prices fall (rise) in another.