上市公司债务融资与公司价值的实证研究

本文利用中国所有A股上市公司1998～2005年的数据，改进了汪辉（2003）实证模型，来检验上市公司债务融资与公司价值的关系，发现上市公司债务融资净额占总资产的2．27％；资产负债率在30～60％之间的上市公司的负债融资，有利于增加公司的市场价值，资产负债率小或者大的公司这种效应不显著；同时债务融资对传递公司的业绩具有很强的信号作用，公司价值越高的公司，未来进行债务融资的可能性越大。     

集群竞争力的动力机制以及实证分析

集群由于持续创新而显现的竞争优势，已经成为工业政策制定者的研究内容和模仿手段。为了揭示集群竞争优势背后的动力机制以及加强实施的可操作性，本文首先详细分析了集群的动力机制：基于社会资本的地域分工，外部经济，合作效率，技术创新与扩散，并分析其对应的竞争优势。然后，以嵊州领带产业集群为例，具体分析其动力机制，以及嵊州领带集群存在的问题，并提出相应的对策措施。     

高校扩招对大学生就业的影响及对策

文章认为高校扩招导致就业率降低,引起大学生要求的平均工资降低,未受过高等教育者要求的工资升高,从而提出对策和建议,以减轻毕业生的就业压力。     

Business Choice of Enterprises’Diversification

Diversification strategy is a growth behavior adopted forthe long-term development of the enterprises when theyreach a certain stage. The success of a planned diversifica-tion strategy depends mainly on the correct businesschoice. Nevertheless, it is very difficult for a corporation todecide which business should be chosen. I.TheEvolution of theapproach of businesschoiceIn his 1980s’ books entitled, Competitive Strategy andCompetitive Advantage, Porter. Michael E. analyzed thecompetitive …     

企业多元化经营的业务选择

The strategy of diversification has become an important approach to enterprise development. A successful diversification strategy depends mainly on the correct business choice. Before choosing a new business, we must identify the core competencies of the enterprise and research the attraction and critical success factors of the target business. Then we should make sure whether the core competencies match the critical success factors or not.The new business should be useful for cultivating sustainable competitive advantage.     

Analysis of evolutionary game in structural formation of market power in remanufacturing supply chains

It is normal for enterprises to engage in remanufacturing nowadays. Nevertheless, the concern of enterprises and researchers is whether remanufacturers should compete for leadership in supply chains. Considering the WTP for new and remanufactured products differs, this article the evolutionary game theory model in three structures of leadership in supply chains. It investigates the processes of market evolution and choices of strategies when manufacturers and retailers compete or do not compete for leadership in the market. It has been shown in the case of market evolution, according to the 12 conditions formed from different prices that manufacturer and retailer have to pay for competing for leadership, there are five types of ultimate evolutionary stability about the choices of strategies. Further analyses show that these five different evolutionary stability results include nine different evolutionary paths. Analyses of examples further show the evolutionary processes and results in distinct circumstances. This article extends the application of the evolutionary game in remanufacturing supply chains in theory and provides some guidance for enterprises to make decisions when they consider whether they compete for leaders in remanufacturing supply chains in reality.     

关于应用文写作教学改革的几点思考

应用文写作是一门综合性、实践性都很强的基础工具课和能力课,但长期以来课堂教学效果不尽如人意。本文从更新教育理念、开拓教学内容、改进教学方法、提升教师素质等方面对应用文写作教学改革进行了一些探讨。     

基于MOOC的翻转课堂在高校教学中的应用研究

近年来,随着MOOC及翻转课堂的快速发展,高校传统的教学模式也将面临严峻的挑战,如何恰当地运用这些新型教学模式成为高校教师必须认真思考的问题.通过梳理MOOC及翻转课堂的内涵与特征,分析二者的关系及高校实施翻转课堂的必要性和可行性,提出高校基于MOOC的翻转课堂的实施步骤,并对高校实施翻转课堂提出几点应注意的问题.     

Analysing remanufacturing decisions of supply chain members in uncertainty of consumer preferences

This article formulates a gaming model of the closed-loop supply chain with manufacturers (as the leader), sellers and consumers where consumers may or may not be willing to pay remunerative price for remanufactured products vis-à-vis new products. In the model, manufacturers produce new as well as remanufactured products, whereas sellers distribute them. In stable circumstances, this article presents the functional formula of the optimal manufacturing pricing decisions. The results show that when the cost of new products is significantly lower than that of remanufactured ones, manufacturers choose to produce new products only. When the difference between cost of new and remanufactured products is moderate, manufacturers tend to produce both new and remanufactured products, and in some regions, production of new and remanufactured products is proportional to each other. When the difference between cost of new and remanufactured products is enormous, their production and sale tend to stop. Also, this article analyses the effects of varying cost of new and remanufactured products and the recycling rate on pricing decisions of supply chain members. This article contributes to the management of manufacturers’ and sellers’ remanufacturing decisions and also provides advice on how governments can guide consumer preferences.     

财务冗余、股权集中度与企业产品创新——基于高科技上市公司的实证数据

以2007-2014年我国高科技上市公司为研究样本,基于资源基础论和委托代理理论,实证检验不同类型财务冗余对企业产品创新的作用,并引入股权集中度,研究其如何调节不同类型财务冗余对产品创新的作用。研究发现：可利用财务冗余有利于企业产品创新的推进;而潜在财务冗余却对企业产品创新产生负向影响,即负债率越高,潜在财务冗余越低,企业越倾向于实施产品创新;且股权集中度增强了可利用财务冗余对企业产品创新的促进作用,但也放大了潜在财务冗余产生的负向影响。