多维企业战略柔性体系增强模型的构建

基于Porter的价值链思想,从企业外部环境不确定性和内部资源可调整性的视角,构建了多维企业战略柔性体系。基于该体系,将战略领导力作为首要的决定因素,提出了基于企业资源适应性和协同性的企业战略柔性的增强模型和增强途径。     

经理人特性影响到了基金绩效吗?——来自中国股市的经验实证

依据可获取的描述基金经理人特征变量的统计信息,以沪深两市2011年746只基金作为研究样本,通过逻辑回归检验了基金绩效与基金经理人特征之间的关系。与大多数研究结果不同的是,实证结论表明,年龄、学历、其他教育背景、性别、工作年限、专业背景对基金绩效均没有显著的影响,而基金经理管理的基金数对绩效有显著的正向影响。同时对于投资于股票市场的基金,管理人单独决策的效率产生的收益超过团队协作带来的收益,从而使得基金管理的人数对绩效产生了冲击。另外,替换基金经理对基金的绩效可能有负的影响。     

铬渣渗滤液处理方法及应用现状

铬渣产量大、毒性剧烈,是严重污染环境和危害人类健康的危险废物。铬渣的环境污染问题已经引起了国家的高度重视,要求2010年底前,所有历史堆存铬渣实现无害化处理。铬渣堆放所产生的含铬渗滤液已对周围的土壤、地下水乃至居民身体健康造成危害。因此,在铬渣得到治理的同时,含铬渗滤液必须得到有效治理。系统评述了铬渣渗滤液的各种治理技术和应用现状,并展望了含铬废水处理技术的发展前景。     

UNITARY BOARDS AND MUTUAL FUND GOVERNANCE

A unique governance structure for mutual funds is unitary board—one board overseeing all funds in the entire family. We find strong evidence for unitary board as an effective governance mechanism. Funds with unitary boards are associated with lower fees, are more likely to pass the economies of scale benefits to investors, are less likely to be involved in trading scandals, and rank higher on stewardship. In contrast, funds with larger or more independent boards charge higher fees and rank lower on stewardship. Our findings indicate that unitary boards of small size, rather than independent boards, may be more beneficial to fund shareholders.     

Institutional Investors' Trading in Speculation: Evidence from China

The trading behaviour of institutional investors has attracted much attention. However, many issues related to their trading behaviour cannot be addressed without high‐frequency changes in institutional ownership. Based on a measure of the trading behaviour of institutional investors by using an institutional account dataset from China, we find that (i) active institutions trade speculatively by taking advantage of individual investors; (ii) individuals buying high and selling low offer liquidity only on average; (iii) foreign investors do not show significant patterns in speculation; and (iv) trading of active institutions significantly affects price. This study casts doubt on the conventional wisdom that institutional or sophisticated investors improve market efficiency by correcting mispricing, and provides direct evidence for institutional investors' speculation behaviour and their destabilising effect on the stock market. Results suggest that regulators in emerging markets should monitor institutions' speculation to bring fairness and justice to the stock market.     

氮卓斯汀喷鼻剂治疗过敏性鼻炎的临床疗效

目的探讨氮卓斯汀喷鼻剂治疗过敏性鼻炎的临床疗效。方法选取2012年8月至2013年8月我院收治的过敏性鼻炎患者260例,将其随机分成两组,对照组患者给予丙酸氟替卡松喷鼻剂治疗,观察组患者给予氮卓斯汀喷鼻剂治疗,比较分析两组患者的治疗效果和不良反应。结果观察组患者总有效率为95.4%,对照组患者总有效率为74.6%,观察组治疗效果明显优于对照组(P<0.05),观察组无1例出现不良反应,对照组有3例出现鼻出血,6例出现鼻黏膜干燥,不良反应发生率为6.9%,两组比较差异有统计学意义(P<0.05)。结论过敏性鼻炎患者给予氮卓斯汀喷鼻剂治疗,可明显改善患者鼻部的过敏症状,且不良反应少。     

特种作战装备精确保障初探

特种作战对装备保障提出了信息保障实时可靠、保障力量多元一体、装备指挥准确灵敏、保障行动及时高效等要求,必须转变保障观念、变革保障体制、调整运行机制,以实现适时、适地、适量的装备精确保障,满足特种作战的装备保障需求。     

Firm Size and Performance of Manufacturing Enterprises in P.R. China: The Case of Shanghai's Manufacturing Industries

This paper studies the relationship between firm size and technical efficiency of manufacturing enterprises in Shanghai's manufacturing sector from 1989 to 1992. Although our empirical results show that technical efficiency is increasing in the firm size, the group of the smallest enterprises (0–99 workers) have very high technical efficiency. The group of enterprises with size of 100–249.9 workers have the lowest technical efficiency while the largest size (1000 workers or above) group usually have the highest technical efficiency. Finally, technical efficiency computed from net industrial product has large upward biases compared with that computed from gross industrial product.     

商业企业营销道德中的问题与对策

在我国社会主义市场经济初级阶段,加强商业营销道德与文化建设是企业主动适应经济全球化和市场国际化的需要。加强商业企业营销道德建设,不仅要分析、解决商业营销活动中伦理失范问题,还必须挖掘其存在原因,构建适应市场经济的商业道德观念,加强法律法规建设,强化企业的社会责任,促进企业与外部环境的和谐发展。