Managerial political ties and firm performance during institutional transitions: An analysis of mediating mechanisms

This study examines the role of mediating mechanisms impacting the relationship between managers' political ties and firm performance, with a focus on institutional transitions in China. Relying on both resource dependence and institutional theories, the analysis posits that three factors: organizational regulatory legitimacy building, institutional support, and institutional entrepreneurial opportunity recognition, mediate the relationship between managerial political ties and firm performance. Using survey data collected from 195 Chinese firms, the study concludes that institutional support and institutional entrepreneurial opportunity recognition represent two significant mediating mechanisms by which managerial political ties can result in improved firm performance. But, though a reliance on political utilization enhances organizational regulatory legitimacy, the results show that regulatory legitimacy does not directly contribute to firm performance. This study also discusses theoretical contributions, implications for managers, study limitations, and suggestions for future research.     

温州文化产业发展的反思——兼论政府在其中的作用

自十七大提出“文化强国”战略以来,全国各地掀起了发展文意产业的浪潮,具有“敢为人先”精神的温州同样竞相出台了各种促进文化产业发展的各项政策法规,以追求文化产业的经济性,这种对文化产业采取“实用主义”至上的态度,致使温州文化产业只是实现了空间上的聚集,而文化与产业的叠加显著不够,整个文化产业凸显着一种结构性缺陷。因此,应廓清对文化产业的认识,发挥政府政策在文化产业中提供基础性支撑的作用,同时通过政府制度和市场机制的创新,在政府、市场和社会的共同作用下,促进温州文化创意产业的协调和包容性增长。     

Creating opportunities for institutional entrepreneurship: The Colonel and the Cup in English County Cricket

This paper examines how actors within a mature cultural field use their field positions to create opportunities for institutional entrepreneurship. Our analysis of the product innovation of a Knock-Out Cup in English County Cricket between the 1930s and 1960s shows that when the economic viability of a mature cultural field is threatened, actors learn to recursively create market and political opportunities for institutional entrepreneurship by deploying the resources of their field positions in tactics targeted at shifting product category boundaries. We find that ‘lone hero’ institutional entrepreneurs who experience failure from working in relative isolation learn to acquire new resources and deploy them in new tactics leading to a more collective approach, which is necessary for disrupting the institutional gatekeeping work that maintains a mature cultural field.     

论经济全球化与当代资本主义经济的新变化

经济全球化是当代资本主义的一个重要新发展,它给当代资本主义社会的经济结构、社会关系及阶级结构带来了深刻变化,使资本主义发展进入最新阶段。随着资本全球化,资本所固有的负面影响迅速在更大的范围扩展,资本主义的各种危机互相影响,互相促进,波及所有资本主义国家,形成资本主义世界的失调、失衡和危机。全球资本主义发展到尽头,取代它的必将是全球社会主义的新时代     

北京市出口贸易与经济增长关系的实证研究

通过对改革开放以来北京市出口贸易与经济增长关系的实证分析,得出的基本结论是,经济体制改革和对外开放两因素对经济增长都具有显著的促进作用(前者的产出弹性为0.635,后者为0.110),其中非国有化程度的提高对经济增长的作用较大;同时,北京市的经济增长方式仍以要素投入为主,其中主要是劳动的投入。     

我国公司理财的风险管理研究

公司在理财过程中经常面临多种制约因素,不同的公司治理结构模式、理财战略以及理财理念等都会给公司理财带来收益的不确定性。面对这些理财风险,公司必须加强业务人员培训,理顺公司治理结构与理财目标的关系,防范金融机构可能出现的道德风险,建立有效的风险管理组织体系和风险报告制度,才能确保最终理财目标的实现。     

“I don’t Care that People don’t Like What I Do” – Business Codes Viewed as Invisible or Visible Restrictions

Research about codes of corporate ethics has hitherto taken a hypothetical, correct meaning of codes for granted. The article problematises the dichotomous categories intrinsic and subjective meanings of codes. I address the question if professionals in finance accept codes of business. The particular mentality of stockbrokers and traders constructs the way they judge restrictions such as company codes of ethics. While neglecting dimensions of ethics beyond known rules, brokers and traders distrust good ethics as a possible end in itself. Many professionals in the financial market perceive efforts to integrate ethical reasoning in work as only means for maximising business opportunities.     

Happy hour followed by hangover: financing the UK brewery industry, 1880–1913

ABSTRACT

In the last 15 years of the nineteenth century c.300 British brewers incorporated and floated securities on the stock market. Subsequently, in the 1900s, the industry suffered a long-lived hangover. In this article, we establish the stylised facts of this transformation and estimate the gains enjoyed by brewery investors during the boom as well as the losses suffered by investors during the bust of the 1900s. However, not all brewery equity shares suffered alike. We find that post-1900 performance correlates positively with capital-market discipline and good corporate governance and negatively with family control, but does not correlate with indebtedness.     

证券市场异象的行为金融学探讨及对我国的启示

自 2 0世纪 80年代以来证券市场涌现了许多与有效市场理论相悖的市场异象 ,而利用最近兴起的行为金融学则可通过心理学与人类行为学等研究对这些市场异象作出与以往不同的新角度的探讨。且这对于在我国这一并不完全理性市场中的机构投资者有一定的投资策略启示。     

Diaspora entrepreneurs as institutional change agents: The case of Thamel.com

Diasporans are migrants and their descendants who maintain a relationship to their country of origin (Safran, 1991). Diasporans who establish new ventures in their countries of origin comprise a special case of international ethnic entrepreneurship.In countries of settlement, diasporans confront institutional environments that often are quite different than those that exist in their countries of origin. We refer to the exposure to and adoption of institutional roles and relationships associated with a new cultural setting as “institutional acculturation.”Most extant work in management and marketing focuses on how a migrant's acculturation affects his/her behavior in the new country of residence. We shift the analytical lens to the country of origin. Utilizing a case study from Nepal, we demonstrate how institutional acculturation can inspire a diaspora entrepreneur to transform institutional arrangements in his/her country of origin and generate dramatic change in society's role expectations of the government, suppliers, and buyers.     

浅谈如何加强超市的库存管理

本文从分析大型综合超市管理中亟待解决的库存问题入手,就如何优化超市的库存管理以此提升企业竞争力提出了自己的一些建设性看法,借此希望能为广大超市管理者提供一个如何通过加强库存管理来增强企业竞争力的全新思路。     

Organizational Moral Learning: What,If Anything,Do Corporations Learn from NGO Critique?

While organizational learning literature has generated significant insight into the effective and efficient achievement of organizational goals as well as to the modus of learning, it is currently unable to describe moral learning processes in organizations consistently. Corporations need to learn morally if they want to deal effectively with stakeholders criticizing their conduct. Nongovernmental organizations do not ask corporations to be more effective or efficient in what they do, but to become more responsible or to learn morally. Current research on the moral aspect of organizational learning has been primarily of a theoretical nature and is in need of empirical verification. Results of a longitudinal case study as Citigroup’s conflict with the Rainforest Action Network show that current organizational moral learning theories do not fit the moral learning path observed at Citigroup. More empirical research is needed to describe organizational moral learning.     

The microstructures of rhetorical strategy in social entrepreneurship: Building legitimacy through heroes and villains

For social entrepreneurs who seek to change existing community practices, the difficulties in building legitimacy may pose a challenge that compromises their ability to create sustainable institutional change. Case studies of 10 social enterprises reveal that rhetorical strategy aims to overcome this barrier. The findings suggest that the rhetorical strategy used by these enterprises casts the organization as protagonist and those that challenge the change as antagonists. The microstructures underlying this strategy include vocabulary sets that invoke socially accepted meta-narratives, and rhetorical devices that heighten the positive of the protagonist meta-narratives and the negative of the antagonist meta-narratives. The rhetorical strategy weaves together these protagonist and antagonist themes to create tension and persuade the audience of the organization's legitimacy.     

Questioning ‘law and finance’: US stock market development, 1930–70

An important tenet of a burgeoning ‘law and finance’ literature is that stock market development is contingent upon corporate law offering ample protection to shareholders. This paper addresses this claim, using as its departure point developments occurring in the United States between 1930 and 1970. It shows that, contrary to what the law and finance literature would predict, during this period and throughout the twentieth century generally the US lacked corporate law that provided extensive protection to shareholders. It also points out that while federal securities legislation introduced in the mid-1930s bolstered investor protection, this reform effort did not energise the stock market in the manner implied by law and finance analysis.     

沪深两市股指时间序列突变点贝叶斯检测模型研究

股指时间序列突变点的检测是股指波动规律研究领域中的一个重要问题。依据贝叶斯原理提出的突变点检测分析模型,用Matlab工具软件对该模型进行了仿真,并且在实证分析中应用该模型分别对上证综合指数和深证成份指数月度时间序列数据进行了突变点检测分析,准确地确定了两市的突变点,和相应的后验概率分布,并解释了突变点形成的经济和政策背景。