公司治理、内部控制与公司价值的关系研究述评

关于公司治理、内部控制和公司价值的研究一直是国内外学者关注的热点问题,他们对于三者两两之间的关系进行了必要的研究,取得了可喜的成果。但是,对于公司治理、内部控制和公司价值三者之间内在联系的研究则相对比较薄弱。由于对内部控制的研究起步较晚,加上其他一些因素,我国迄今为止尚未建立一个比较完善的内部控制规范体系。从近几年的研究状况和主要观点看,必须加强公司治理、内部控制和公司价值三者之间内在联系的研究。     

不同公司治理结构下的内部控制制度效率浅析

公司治理结构是公司制度的核心,良好的公司治理结构是提高企业经营管理效率的基本要素。科学的公司治理结构与完善的内部控制制度的结合是现代企业高效运行的保障。本文在对内部控制制度效率进行界定后,从理论上阐述了公司治理结构与内部控制制度的关系,并比较了不同公司治理结构下的内部控制制度效率。     

完善公司治理结构构筑内部控制运行机制

公司治理结构是现代公司制度的核心。良好有序的公司治理结构是内部控制的基础，是提高企业经济效益，保证会计信息质量，实现股东财富最大化的基本要素。而科学有效的内部控制是公司治理的重要组成部分，是现代企业实现经营管理目标的有力保证。公司治理与内部控制二者密不可分。根据公司治理与内部控制二者的关系，提出了公司治理结构与内部控制的运行机制。旨在为完善公司治理结构，促进资本市场的健康发展做一点尝试。     

论公司治理结构与企业内部会计控制制度建设

公司治理结构与企业内部会计控制建设密不可分。完善公司治理结构,应合理配置公司治理权走共同治理之路。企业内部控制应以会计控制为核心,企业内部会计控制制度建设以战略管理为中心。     

公司治理与公司价值跨期替代性实证研究

文章在跨期内生性视角下,通过创新性构建公司治理综合指数和采用面板数据联立方程组模型及3SLS估计方法,实证检验了我国上市公司治理与公司价值之间的关系。结果发现总体上公司治理与公司价值之间存在着跨期内生性,各治理要素内部存在着直接或间接的替代关系;在控制其他影响因素后,公司治理指数每增加1个单位,当期公司价值就增加11.5%,下一期变动7.9%。     

基于公司治理的内部控制的发展趋势和评价

公司治理与内部控制是环境与制度的关系，合理的公司治理是内部控制有效性的保障，有效的内部控制将有助于公司目标的实现。该文从公司治理的角度，分析了我国公司内部控制的缺陷，以及内部控制的发展趋势及评价。     

我国公司治理的缺陷与独立董事制度的引入

我国现行公司治理结构是要求公司建立一套股东会、董事会、监事会三者之间的内部制衡机制。《公司法》确立的这种公司治理结构在催生我国现代企业制度,推动我国国有企业改革方面发挥了积极作用,但它在运作过程中也暴露出了诸多问题。文章分析了我国上市公司治理结构存在的问题,在分析问题的基础上阐述了我国引入独立董事制度的必要性。     

公司治理和内部控制中的委托代理关系

现代公司是由一系列委托代理关系组成的。从委托代理关系的角度看 ,公司治理和内部控制都是为解决公司代理问题而进行的制度安排。具体地说 ,公司治理是要解决所有者和经营管理者之间的代理问题 ,内部控制是要解决经营管理者和下级人员之间的代理问题。公司治理和内部控制处于公司组织结构和运营过程的不同层次 ,二者既互相区别又紧密联系 ,公司治理是内部控制的起点 ,内部控制是实现公司治理目标的保证。     

公司治理与内部会计控制相互关系的研究

内部控制是企业管理的有机组成部分,公司治理失效的原因无不与缺乏完善的内部控制有关。上市公司治理与内部控制之间是一种互动关系,上市公司内部控制的有效运行离不开公司治理的推动,而上市公司治理的优化也离不开有效的内部控制做保障。     

我国上市公司基于公司治理下的内部控制

内部控制和公司治理作为现代企业制度的灵魂,具有较强的关联性,并统一于实现企业的目标。然而目前我国上市公司基于公司治理下的内部控制中存在不少问题,内部人控制现象普遍。针对这一现状,本文提出了一系列治理措施,以期完善基于公司治理下的内部控制,使二者统一于实现企业的目标。     

Building corporate associations: Consumer attributions for corporate socially responsible programs

Corporate social responsibility (CSR) is often used as a key criterion in gauging corporate reputation. This research examined the influence of consumers’ attributions on corporate outcomes in response to CSR. Researchers and managers have considered consumers’ beliefs about CSR initiatives to be simplistic, serving either economic ends or reflecting sincere social concerns. The results of two studies established that consumers’ attributions were more complex than traditionally viewed, mirroring many of the motives ascribed to companies by managers and researchers. Rather than viewing corporate efforts along a self- or other-centered continuum, consumers differentiated four types of motives: self-centered motives that are strategic and egoistic and other-centered motives that are values driven and stakeholder driven. Consumers responded most positively to CSR efforts they judged as values driven and strategic while responding negatively to efforts perceived as stakeholder driven or egoistic. Attributions were shown to affect purchase intent as well as mediate the structure of an offer. Pam Scholder Ellen (pellen@gsu.edu) is an associate professor of marketing at the Robinson College of Business at Georgia State University. Her research focuses on perceptual biases in the way consumers respond to marketplace offers, particularly in the public policy arena. In addition to theJournal of the Academy of Marketing Science, her research has been published in theJournal of Consumer Research, theJournal of Public Policy & Marketing, theJournal of Consumer Affairs, and theJournal of Retailing. Deborah J. Webb (dwebb@westga.edu) is an assistant professor of marketing at the Richards College of Business at the University of West Georgia. Her research interests include consumers’ responses to prosocial corporate behaviors, marketing and society issues, and donation behavior. Her research has been published in theJournal of the Academy of Marketing Science, theJournal of Retailing, theJournal of Public Policy & Marketing, theJournal of Consumer Affairs, andMarketing Education Review, among others. Lois A. Mohr is a retired associate professor of marketing from the Robinson College of Business at Georgia State University. Her research interests focus on consumer responses to corporate social responsibility and services marketing. She has published in theJournal of Marketing, theJournal of Retailing, theJournal ofBusiness Research, the Journal of Public Policy & Marketing, theJournal of Consumer Affairs, and theJournal of Services Marketing.     

基于全流通高管薪酬变动与控制权转让绩效研究

以2005年5月1日～2007年12月31日的国有-国有、行业未变更的控制权转移公司为样本,在控制高管变更等因素后,检验薪酬变动与控制权转移后业绩变动的相关关系,研究发现：高管薪酬增加与控制权转移后业绩改善存在显著的正相关关系。这一结论对国有上市公司薪酬改革和控制权转移后如何提升公司业绩具有重要意义。     

企业文化理论的探讨

企业文化作为一种新型的管理理论和管理方法,越来越受到国内外企业界和学术界的重视,企业也积极尝试将企业文化建设作为企业发展的战略目标之一。     

Consumer evaluations of corporate brand redeployments

There has been little attention paid to the management of corporate brand names as part of the merger and acquisition process. As an initial step towards developing a better understanding of this brand redeployment decision the authors consider the reactions of one important stakeholder group—consumers—to alternative strategies. Specifically, the authors discuss the importance of the corporate branding decision in the M&A process and present a typology of alternative redeployment strategies as well as an exploratory study examining reactions to different postmerger branding strategies. The authors find evidence that the brand equity related to corporate brands is often decreased as a result of M&A activities and that individuals react differently to mergers employing different redeployment strategies. These results emphasize the need for firms to evaluate the corporate branding component of M&A activities as part of the process of managing corporate brands and should generate interest and research in this managerially relevant area. Anupam Jaju (ajaju@gmu.edu) is an assistant professor of marketing at George Mason University. He received his Ph.D. from the University of Georgia at Athens. His articles have appeared in leading marketing journals, including theJournal of the Academy of Marketing Science, theJournal of International Management, Marketing Theory, andMarketing Education Review. His current research focuses primarily on exploring three interrelated domains of business: the link between corporate and functional (marketing) strategy, the market orientation of corporate strategies, and the market and customer-related consequences of corporate strategy. Christopher Joiner (cjoiner@gmu.edu) is an assistant professor of marketing at George Mason University. He received his Ph.D. from the University of Minnesota. His articles have appeared in leading marketing journals, including theJournal of Marketing, theJournal of Consumer Psychology, the Journal of Current Issues and Research in Advertising, andAdvances in Consumer Research. Srinivas K. Reddy (sreddy@terry.uga.edu) is the Robert O. Arnold Professor of Marketing and the director of the Coca-Cola Center for Marketing Studies at the Terry College of Business, University of Georgia. He received his Ph.D. from Columbia University. He has taught previously at New York University, Columbia University, and the University of California, Los Angeles, and was a visiting professor at Stanford Business School. His research on brand and marketing strategy and has been published in theJournal of Marketing, theJournal of Marketing Research, Management Science, Marketing Letters, theJournal of the Academy of Marketing Science, and theJournal of Business Research. His current research interests include the financial and marketing impacts of brand failure and understanding the value of creative products such fine art.     

Managing corporate identity: An internal perspective

Management plays a key role in the development and maintenance of corporate identity, including paying particular attention to the internal and controllable aspects of the process. The progression of research that examines corporate identity is contingent on clarification of the scope of corporate identity management (CIM) and development of generalizable and applicable measures of the construct. This study develops an interdisciplinary measure of the CIM construct by drawing on the literature and primary data, such as exploratory research, a survey, and a follow-up phase. Overall, CIM involves (1) the endorsement of consistent behavior through the diffusion of a company’s mission, values, and goals; (2) the expression and pursuit of brand and image consistency in the organization’s symbols and forms of communication; and (3) the implementation, support, and maintenance of visual systems. The results suggest that CIM includes the dissemination of mission and values, consistent image implementation, and visual identity implementation.     

组织公民与企业公民之辨

组织公民行为是一种有利于组织的角色外行为和姿态.它由一系列非正式的合作行为所构成.它能充当组织运行的"润滑剂",减少组织各个"部件"运行时的相互摩擦,从而促进整个组织效率的提高.我国企业正在超越原始资本积累时期片面追求利润最大化而进入一个崭新的"企业公民"阶段.基于组织行为学角度,探讨企业公民的形成过程及其措施与方法,可以促进我国现代企业制度不断完善中迫切需要的以企业公民为目标的新型企业文化的建构.     

公司利益主体的监督机制问题研究

只进行资本委托的利益相关者是公司外部利益主体,进行权力委托或双重委托的相关者属于内部利益主体.公司治理中的监督模式与一个国家的金融制度密切相关,直接金融为主的英美国家建立了以市场为核心的外部监督体系,而以间接金融为主的德日模式则以主银行全程参与公司监督为特点.