领导力与企业成长关系之研究

企业是一群人为成就某一种特定目的而成立的,企业的成立与生长又与企业领导人的领导力息息相关。而领导力这三个字叉是一个非常抽象的名词,有人以为是天生的艺术,又有人以为是可以在后天培养的,但这些都很难以引用具体的实例来加以印证。领导力到底是什么？是天生的,还是可以在后天培养的？它对企业之成长到底会产生什么样的影响？     

Middlemen: the good,the bad,and the ugly

We examine the role of a middleman as an expert in markets. A seller's effort determines the quality of the good. Buyers observe neither the seller's effort nor the good's quality. A middleman, after observing a signal about the good's quality, decides whether to purchase it and then to sell it. We show that the presence of a middleman may either reduce or exacerbate the seller's moral hazard problem. We also consider a model with multiple middlemen. We find that the seller's effort is minimized if either the middleman's signal is perfect or the number of middlemen is large.     

Man,the city and the automobile in the future

The present day city mirrors the internal conflict of modern man. He wants to live in towns and preferably in towns which are pleasant to live in. But, at the same time, he does not wish to be deprived of his car and indeed cannot do without it. Yet the present day automobile has shown itself to be incompatible with the city, or at least with a city that is good to live in. Is there any hope of resolving this dilemma in the next generation, the 26 years which will take us to the year 2000, without endangering a powerful automobile industry, probably vital to the survival of our industrial society, and without destroying our civilisation which is essentially a civilisation of town dwellers ?     

从珠江三角洲的实践看我国展览经济的发展

展览经济是近几年来迅猛的一种经济现象，不少地区把展览经济的发展作为当地经济的重要增长点。本文试从珠江三角洲地区近几年来展览 经济的发展实践来透视我国展览经济的发展前景。     

西方新制度主义的制度观述要

新制度主义是在批判行为主义的过程中兴起,它并非制度分析的一种简单回归,而是制度分析的现代转型与演进。本文试图分析新制度主义兴起的原因和背景,在介绍新制度主义的制度政治经济含义及其基本理论的基础上,对新制度主义的制度观进行一些理论性的探索。     

Reframing the nation-state: Rethinking the Australian dream from the local to the global

Movement across the borders of the nation-state has always been uneven, but over the past few decades the unfettered movement of goods and images has been defended under the ideology of freedom and openness. At the same time, the movement of people, including refugees, has become increasingly administered and restricted in the name of ‘the national interest’. This article argues that Australia has been part of this development. The Australian dream was once for all to own a quarter-acre housing block, protected from the machinations of the world. Across the turn of the 20th century into the present an invidious version of this dream has intensified, shorn of its egalitarian spirit. The nation-state itself has been made over in this image. The Australian state now acts on behalf of the nation to keep unwanted strangers out, while facilitating the open globalization of the Australian economy. In this context, older ethical pronouncements about freedom, equality openness and fairness no longer work. This article develops an alternative approach based upon a layering of ethical considerations. The new Australian dream it suggests will entail a complete renegotiation of how we are to live within and across the boundaries of identity, culture and economy.     

Fix the process, not the problem

In 1983, a paper company was on the verge of filing Chapter 11 for a subsidiary, a mill acquired two years earlier that was losing more than $1 million a month. One year later, the paper mill was just about breaking even. Today it is a highly profitable operation. What happened? Everyone at the mill became a problem solver. Both managers and mill workers learned to take the initiative not just for identifying problems but also for developing better ways to fix problems and improve products. The key to the mill's success: a multiyear learning process in which employees developed four progressively more sophisticated problem-solving loops: Fix-as-fail-solving problems after they occur. prevention-keeping problems from occurring. Root causes-discovering what is truly causing a problem. Anticipation-solving problems before they occur and finding innovative solutions to customers' problems. Drawing on the paper mill's experience, the authors illustrate the four loops and suggest ways managers can help this organizational learning process move ahead. Paradoxically, a key to becoming a faster, smoother running operation is to start slow and avoid the temptation to jump to root-cause problem solving before you truly understand what your problems are or have freed up the resources to go after them.     

Competition among the big and the small

Many industries are made up of a few big firms, which are able to manipulate the market outcome, and of a host of small businesses, each of which has a negligible impact on the market. We provide a general equilibrium framework that encapsulates both market structures. Due to the higher toughness of competition, the entry of big firms leads them to sell more through a market expansion effect generated by the shrinking of the monopolistically competitive fringe. Furthermore, social welfare increases with the number of big firms because the procompetitive effect associated with entry dominates the resulting decrease in product diversity.     

From the classroom to the corner office

Going from Catholic nun and teacher to president and CEO of a $5.7 billion bank is a monumental leap. But Rosemarie Greco found that teaching school is not so different from managing a business. For many years, two insights have guided her transformation and climb up the corporate ladder: that both women and men have the ability to shape their professional destinies, and that there is unlimited power in the fusion of organizational vision and individual fulfillment. Hired in 1968 by Fidelity Bank in Philadelphia as a secretary, Greco was determined that every day on the job she would learn something new about banking. She took careful notes and stored them in a three-ring binder that soon became the bank's official training manual. This led to a promotion to the training department of human resources, putting Greco on a career path she had never envisioned. Along the way, Greco met obstacles, such as a boss who put his own name on her new ideas--a boss whom Greco later fired after she was promoted above him. She helped revise Fidelity's salary-grading system when the bank faced a sex discrimination class-action suit. At the same time, slotting employees into the newly created job grades opened Greco's eyes to the fact that the work of men was valued much more highly than that of women at the bank. When Greco was promoted to director of human resources--and later as CEO--she worked to change that discriminatory corporate culture until Fidelity Bank became one of the top organizations in the country for women to work in.(ABSTRACT TRUNCATED AT 250 WORDS)     

Taking the customer into account: Transcending the construction of the customer through the promotion of self-accounting

The importance that businesses have accorded their customers during the past thirty years has not, as yet, been fully matched by the development of accounting for the customer. A range of customer-related techniques has emerged, including customer profitability analysis, the balanced scorecard and several strategic management accounting approaches. In large part these can be characterised as attempts to construct the customer in a very conventional manner, one which serves the interests of business rather than customers. Similar emphases can also be identified in the marketing management literature, which in recent years has shown worrying signs of becoming focused on the adoption of a form of hard number accounting. The purpose of this paper is to provide a review and critique of extant customer accounting techniques and approaches, as well as identifying some of the fundamentals of a more appealing attempt at ‘taking the customer into account’.     

谈企业人力资源管理职能的变革

企业在面对经济全球化，满足利益相关群体和高绩效工作系统的挑战时，人力资源管理部门要进行一次职能的变革：它不再限于事务性工作的行政管理职能，而是要肩负起为企业赢取竞争优势而保障一支高素质的人力资源队伍的使命。人力资源管理部门应该参与企业的战略规划，要充当保持和发展企业凝聚力的使，而且必须应用先进技术和业务外包改善工作绩效。     

支持新农村建设需要增强农村信用社服务功能

在建设社会主义新农村的战略要求下,现行农村金融体系需要积极地进行变革和创新,以满足日益增长的农村金融需求。办好农村信用社是形成完善的新型农村金融体系的重中之重,也是当前农村信用社改革面临的重大课题。     

Stakeholders and the composition of the voting rights of the board of directors

We propose a new approach to dynamic representation of different groups of stakeholders on the board of directors. This approach is based on a simple economic model of the firm, with an objective function to maximize its market value. We look at the marginal claim of each stakeholder on the assets of the firm. It divides the voting rights based on the change in value of each stakeholder with a one dollar change in the value of the firm as a whole. We translate these conditions to relative voting powers on the board. While there are many claims in the academic and popular literature on sharing voting rights on the board, our paper is the first to propose a quantitative dynamic model of the power sharing in the corporation.     

Negotiating the spirit of the deal

Most experienced negotiators are comfortable working out the terms of an economic contract--they bargain for the best price, haggle over equity splits, and finesse detailed exit clauses. Yet these same seasoned professionals spend so much time ironing out the letter of the deal that they often pay little attention to the spirit of the deal--the social contract. And that can lead to major problems, say the authors, because even though the parties agree to the same terms on paper, they may have very different expectations about how to meet them. Those on one side, for instance, might think they're entering into a long-term partnership, while those on the other believe they're simply making a series of discrete transactions. Because the parties have failed to have a true meeting of the minds, they sign a deal that is likely to fall apart. To avoid such a disastrous outcome, negotiators should explicitly discuss the details of their social contract before inking the deal. They should talk about the underlying social contract, which answers the question, What? For instance, what is the real nature, extent, and duration of the agreement? And they should discuss the ongoing social contract, which answers the question, How? For instance, in practice, how will we make decisions, handle unforeseen events, communicate with one another, and resolve disputes? Drawing on real-life examples, the authors explore the problems that arise when the letter and spirit of the deal are at odds and suggest ways to dovetail them so they are both independently strong and mutually reinforcing. They also highlight risk factors that can lead to misunderstandings and expose common misperceptions about the social contract.     

加强中小企业集群化提高区域竞争优势

中小企业的发展一直面临困境，如何通过产业重组和调整，改善中小企业普遍存在的信息不灵、缺乏资金、技术创新和市场开拓能力弱等问题，充分发挥区域优势和中小企业的作用，提高区域经济整体素质和发展潜力，成为人们日益关注的焦点。     

Putting the enterprise into the enterprise system

Enterprise systems present a new model of corporate computing. They allow companies to replace their existing information systems, which are often incompatible with one another, with a single, integrated system. By streamlining data flows throughout an organization, these commercial software packages, offered by vendors like SAP, promise dramatic gains in a company's efficiency and bottom line. It's no wonder that businesses are rushing to jump on the ES bandwagon. But while these systems offer tremendous rewards, the risks they carry are equally great. Not only are the systems expensive and difficult to implement, they can also tie the hands of managers. Unlike computer systems of the past, which were typically developed in-house with a company's specific requirements in mind, enterprise systems are off-the-shelf solutions. They impose their own logic on a company's strategy, culture, and organization, often forcing companies to change the way they do business. Managers would do well to heed the horror stories of failed implementations. FoxMeyer Drug, for example, claims that its system helped drive it into bankruptcy. Drawing on examples of both successful and unsuccessful ES projects, the author discusses the pros and cons of implementing an enterprise system, showing how a system can produce unintended and highly disruptive consequences. Because of an ES's profound business implications, he cautions against shifting responsibility for its adoption to technologists. Only a general manager will be able to mediate between the imperatives of the system and the imperatives of the business.     

Supply uncertainty of the bond investor base and the leverage of the firm

We examine the effect of the bond capital supply uncertainty of institutional investors (e.g., mutual bond funds and insurance companies) on the leverage of the firm using a novel data set. Our main finding is that the supply uncertainty of the firm's bond investor base — measured as (i) the average portfolio turnover, or (ii) the average flow volatility of investors holding the firm's bonds, or (iii) the prevalence of mutual funds among the firm's bondholders as opposed to insurance companies — has a negative and significant effect on the leverage of the firm. The supply uncertainty of the firm's bond investor base also has a negative and significant effect on the firm's probability of issuing bonds, and a positive and significant effect on the firm's probability of issuing equity and borrowing from banks. We take a multi-pronged approach to address potential endogeneity issues, including use of geography-based instruments and firm fixed effects, subsample analyses, and a placebo test. Our results highlight the fragility of access to the bond market for companies that depend on mutual funds with high turnover/ flow volatility as primary bond investors.     

Calculating the equity cost of capital using the APT: the impact of the ERM

One of the expected benefits of membership of the Exchange Rate Mechanism (ERM) was a reduction in risk which should lead to a lower cost of capital and foster investment and growth. Using the APT, we investigate the behavior of the equity market risk premium for the London Stock Exchange prior to and during sterling's membership of the ERM. We find that prior to and during the first year of membership the equity market risk premium fell quite dramatically. However, when conflict between domestic and ERM policy requirements arose at the turn of 1991, the equity risk premium increased and continued to do so until sterling's exit, partially wiping out the benefits of membership of the ERM.     

东北老工业基地改造中的政府职能定位

振兴东北老工业基地的关键在于塑造一批在国际市场中有竞争力的、混合所有制性质的超大型企业集团。为此,中央政府应承担国有企业发展过程中形成的历史包袱;对资源枯竭型城市给予专项补贴;对东北土地流转和整合试点给予特别政策;成立由中央政府牵头的东北老工业基地改造协调领导小组。     

Marxism and the structure of the future

A creative dialogue between Marxist and non-Marxist scholars, involving mutual criticism and due consideration of the consequences of their respective attitudes is needed to overcome the present crisis in futures studies. Within the framework of a new interpretation of Marxian dialectics, the structure of the future is seen as comprising a definite field of multiple possibilities. The meaning of propositions such as ‘the socialist future’ are examined in an attempt to think of the future in terms of probabilities and in the context of a system's view.