克服流程改进“7宗罪”

任何行业任何规模的公司都已渐渐明白他们需要改进业务流程,包括产品开发、订单履行、计划、分销、账务处理、招聘、客服等流程。每个人都在做着——或至少是在谈论如何做——“流程改进”、“流程再设计”、或“流程再造”。如同采用其它的绩效改进努力一样,多数的组织都明确表达了对流程改进所期待的成果：节约成本、质量改进、压缩周期时间。     

社会排斥视域下失地农民权益保护的政策建构

以社会排斥作为理论基础,从经济、制度以及关系维度入手分析失地农民的社会排斥,并在此基础上提出反社会排斥的政策建构:改革土地征用制度,构建新型的劳动就业政策,建立统筹城乡的社会保障体系。     

走向共同富裕的制度力量——评陈宗胜等著《中国居民收入分配通论》

<正>改革开放初期,邓小平就提出要允许一部分地区、一部分人先富起来,带动大家实现共同富裕,即著名的"先富后富理论"。20世纪90年代初,邓小平在"南方谈话"中再次提出:"社会主义的本质,是解放生产力,发展生产力,消灭剥削,消除两极分化,最终达到共同富裕。"邓小平的论断指出了经济发展中生产力这一决定因素,也为中国坚持并发展社会主义公有制经济制度指明了方向。正是在上述重大时代背景下,陈宗胜教授提出"公有经济收入分配倒U理论",继而细致地观察思     

如何更好地理解石油市场

石油价格在过去六个月暴跌引发了广泛的讨论,其中不乏阴谋论。虽然这些解释都非常有创意而且有趣,但我们认为只有通过分析供给、需求、经济表现以及成本竞争力,才能更好地分析形势。很多人预测到强劲的供给增长,但我们认为最意外的因素是需求不足——每天的需求量低于某些预测60万桶左右。石油供给连续三年增长,这主要来自北美。但到2014年中,全球需求疲软已经非常明显。一旦需求供给相互作用,石     

掌握全局

过往从事中层会计工作的财务总监只集中关心数字，但时至今日，他们的工作范围扩大了，担当的角色更为重要。本文阐述了这个岗位职责的转变，以及香港会计师公会将怎样协助会员发展这方面的技能及富有挑战性的工作。     

Does reputation of sponsors matter in IPO? Evidence from Hong Kong

Contrary to other markets where underwriters perform a combined role of underwriting and sponsoring in an Initial Public Offering (IPO), IPO issuers in Hong Kong must appoint at least one sponsor in addition to the underwriters. The splitting of the single role of underwriters into two separate ones offers an ideal setting to disentangle the effects of the two roles and to examine which of the two roles—sponsor or underwriter—is more important in explaining IPO underpricing and initial volatility in the Hong Kong equity market. Interestingly, our findings provide supportive evidence that the sponsor reputation does matter in an IPO and it is even more significant than the underwriter reputation in explaining the IPO underpricing phenomenon. Given the recent high-tech fervor, our research goes deeper to examine specifically the role of sponsors on high-tech firms, with results indicating that the reliance on sponsors is higher for traditional issuers than for technology firms. We further discover that sponsors and underwriters are playing substitution roles rather than complementary roles. In order to examine the regulatory policy impact, our research also compares the role of IPO sponsors before and after the launch of the new sponsor regulatory regime in 2013. The empirical findings lend support to our argument that after the launch of the new regulations, public awareness of sponsors is raised, respect towards more reputable sponsor increases, and thus, the role of sponsors becomes more important than before.