从ISO9002质量体系的执行看工程监理部管理工作运作方式

ISO9002质量体系认证后，工程监理部如何运作是关系贯彻质量体系成败的关键。文章从“贯标”后对工程监理部提出的新要求出发，论述了工程监理部管理运作机理、运作方式、运作支撑条件。描述了工程监理部在市场、政策、经济、技术等大环境中，运用质量策划、组织保证、技术支持和法规援助支撑着一个以合同管理、知识型为主体的管理平台，在这个平台上按照ISO9002质量体系文件指导与约束解决建设监理“三控制”、“一协调”、“二管理”的任务。     

独立董事"独立性"研究

独立性是独立董事制度的核心和灵魂。本文认为,独立董事制度的独立性包括独立董事个体的独立性和独立董事整体的独立性。独立董事的独立性是相对的,也是动态的,而且与独立董事的选拔机制、激励和约束机制有关,恰当的激励和约束机制是确保独立董事独立性的重要因素,中等程度的激励和中等程度的约束是最佳的“度”。独立董事在董事会中占多数地位是独立董事整体独立性的基本保证,独立董事工作条件的配套也是提高独立董事工作效率(这也是“独立性”的最终目的)的重要条件。     

2％的意义和人民币汇率机制改革

中国人民银行7月21日发布公告称,为建立和完善我国社会主义市场经济体制,充分发挥市场在资源配置中的基础性作用,建立健全以市场供求为基础的、有管理的浮动汇率制度,自2005年7月21日起,我国开始实行以市场供求为基础、参考一篮子货币进行调节、有管理的浮动汇率制度。人民币汇率不再钉住单一美元,形成更富弹性的人民币汇率机制。同时,美元对人民币交易价格调整为1美元兑8.11元人民币,这是11年来人民币汇率的首次较大幅度地变动,也是“意料之中、预料之外”的一次变动。2%的升值究竟意味着什么?何谓参考一篮子货币的浮动汇率制度?如何用战略眼光和全局观点来看待这次汇率调整?本刊记者邀请了国内外著名专业人士,就以上问题进行深入分析。     

Organizational slack and firm performance during economic transitions: two studies from an emerging economy

An Erratum has been published for this article in Strategic Management Journal 25(3) 2004, 307. How does organizational slack affect firm performance? Organization theory posits that slack, despite its costs, has a positive impact on firm performance. In contrast, agency theory suggests that slack breeds inefficiency and inhibits performance. The empirical evidence, largely from developed economies, has been inconclusive. Moreover, little effort has been made to empirically test whether such an impact (positive or negative) is linear or curvilinear. This article joins the debate by extending empirical work to the largely unexplored context of economic transitions. Specifically, two studies, based on survey and archival data (N = 57 and 1532 firms, respectively), are undertaken in China's emerging economy. Our results suggest (1) that organization theory generates stronger predictions when dealing with unabsorbed slack, and (2) that agency theory yields stronger validity when focusing on absorbed slack. Furthermore, we also find that the impact of slack on performance is curvilinear, which resembles inverse U‐shaped curves. Overall, our findings call for a contingency perspective to specify the nature of slack when discussing its impact on firm performance. Copyright © 2003 John Wiley & Sons, Ltd.     

Corporate Ownership Structure and the Informativeness of Earnings

This study extends prior studies by examining how managerial ownership and external unrelated blockholdings affect the informativeness of earnings. The results are in contrast to prior studies. A non–linear relation exists between managerial ownership and earnings informativeness. Earnings informativeness increases with managerial ownership at low levels but not at higher levels of managerial ownership where the entrenchment effect sets in. Consistent with the role of large shareholder monitoring, the evidence shows a strong positive relationship between external unrelated blockholdings and earnings informativeness. These results are supported when income–increasing and absolute discretionary accruals are used to measure the extent of earnings management     

中小企业金融支持模式探讨与现实思考

中小企业的发展日益受到各界关注,关于扶持中小企业发展的各种政策建议纷纷出台,产生了不同的金融支持模式.在政策性金融的概念下把中小企业金融支持模式,分为主从模式和平行模式,但在具体支持手段上却有较大的一致性.     

Credit scoring for commercial loans: The case of Singapore

This paper develops a credit scoring model which incorporates financial ratios as inputs by applying the statistical technique of discriminant analysis. The objective is to identify and analyse the common financial characteristics which distinguish bad from good accounts. The sample is drawn from the loan portfolio of a major local bank in Singapore. The results indicate that there is a 95 per cent classification accuracy for the model presented.Dr Kwan Kuen Chor is Senior Lecturer at the School of Management, National University of Singapore. Ms Julia Tan is with Paribas South East Asia Ltd. Singapore.     

浅析现代企业财务管理的目标

从现阶段我国企业的实际情况出发,通过对各种观点进行比较,找出比较可行的、适合我国现状的企业财务管理目标。企业现阶段的财务管理目标的较好选择,应是企业价值最大化(使相关者利益最大化)。而实现这一企业财务管理目标,必须树立长远的观点,始终与企业总目标相一致。     

中国银行部门的自由化:进程、现状与展望

金融自由化是经济改革的高级和深化阶段.自20世纪90年代初期至今,中国银行部门的自由化改革已经取得一系列重大进展.本文从存、贷款利率,信贷控制,法定存款准备金和对外开放等方面,对1992-2006年间中国银行部门自由化进程进行定量分析.研究发现,在15年的改革历程中,银行业先后实现了从基本管制、部分管制、部分自由和基本自由的连续转变.银行改革已经获得实质性突破.总体看,虽然起步较晚,但战略性、连续性和系统性等特征使银行部门自由化水平达到新兴市场经济国家20世纪90年代初期的水平.     

Forecasting telecommunications data with linear models

For telecommunication companies to successfully manage their business, companies rely on mapping future trends and usage patterns. However, the evolution of telecommunications technology and systems in the provision of services renders imperfections in telecommunications data and impinges on a company's’ ability to properly evaluate and plan their business. International Telecommunication Union (ITU) Recommendation E.507 provides a selection of econometric models for forecasting these trends. However, no specific guidance is given. This paper evaluates whether simple extrapolation techniques in Recommendation E.507 can generate accurate forecasts. Standard forecast error statistics—mean absolute percentage error (MAPE), median absolute percentage error and percentage better—show the ARIMA, Holt and Holt-D models provide better forecasts than a random walk and other linear extrapolation methods.