知识吸收与企业家导向对自主创新的影响研究

如何通过知识吸收促进自主创新能力提高是企业面临的重要挑战。在回顾以往研究的基础上,综合考虑企业家导向、外部知识获取、内部知识共享与自主创新之间的影响关系,建立了一个自主创新研究的理论框架。并指出：内部知识共享是外部知识获取促进自主创新能力提高的重要途径;企业家导向与外部知识获取的交互影响提高了企业内部知识共享程度;企业家导向能够增强内部知识共享对自主创新的促进作用。     

健康信息获取渠道对城市老年人健康信息素养的影响 ——基于我国西部地区三省市的问卷调查分析

基于2017年中国西部三个省市的812份老年人调查数据,利用列联表交叉分析和回归分析方法,探讨健康信息获取渠道对西部地区城市老年人健康信息素养的影响。研究发现:与媒介传播渠道相比,通过人际传播渠道获取健康信息的城市老年人健康信息素养水平普遍要低;通过杂志图书和电视获取健康信息对城市老年人健康信息素养产生正向影响作用;通过杂志图书和电视获取健康信息、受教育水平高、汉族、自评经济状况好、具有慢性病患病经历、主动获取健康知识的城市老年人更有可能具备充足的健康信息素养。     

Contextualizing speed and cross-border acquisition performance: Labor market flexibility and efficiency effects

There is general agreement that acquisition integration is decisive for acquisition performance. Despite this consensus, there are heterogeneous results on integration measures, such as integration speed with empirical research supporting the benefits of either fast or slow integration. We argue that the business environment surrounding acquisitions has the potential to reconcile conflicting findings. We develop how institutional factors (i.e., labor market flexibility and efficiency) influence the relationships between speed of human and functional integration on acquisition performance. With a sample of 203 transactions from acquirers from central Europe and Scandinavia, we find human and functional integration speed have divergent effects on acquisition performance. Further, both relationships are moderated by labor market flexibility and efficiency, but in different ways. Implications for research and practice are discussed.     

Does takeover competition affect acquisition choices and bidding firm performance? Australian evidence

We examine the influence of takeover competition on three acquisition choices: (i) public versus private target acquisitions; (ii) stock versus cash financed acquisitions; and (iii) related versus unrelated acquisitions. We find strong evidence of acquirers’ preference for public targets, stock swaps and business focus, in the face of takeover competition. Further, we find that the takeover competition has a positive influence on the bid premium paid to acquirer public targets and those financed with stock issues; competitive bids offered to acquire related targets are associated with significantly low bid premiums. In the short-term announcement window, competition-induced bids to acquire public targets and those financed with stock are penalised by the capital market. However, only stock-financed takeovers undertaken in a competitive takeover market show a long-run decline in performance of acquirers.     

双边政治关系与中国企业跨国并购成功率——基于联合国大会投票数据的研究

跨国并购是中国积极参与全球治理的重要方式,建立友好的双边政治关系是中国"走出去"的重要前提和保障。文章基于1993-2017年中国对全球181个国家或地区的跨国并购数据,并用联合国大会投票数据最新测算的国家间政治立场指数之差的绝对值作为国家间政治关系的代理变量,考察双边政治关系对中国企业跨国并购成功率的影响及其机制。研究结果表明,双边政治关系拉近能够显著提高中国企业跨国并购成功率,在更换了被解释变量和解释变量的度量方式、考虑了数据删失和内生性问题后,结论依然成立。其次,通过中介效应模型,研究发现双边政治关系通过促进两国签署与生效双边投资协定以及孔子学院的建立提高中国企业跨国并购的成功率。第三,进一步检验发现,友好政治关系促进中国企业跨国并购成功率的效应,在不同行业和资源行业并购中更大,在"一带一路"和亚洲国家效应更大。     

The market for corporate subsidiaries in Japan: An empirical study of trades among listed firms

We investigate trades of wholly- or partially-owned subsidiaries between firms listed on the Tokyo Stock Exchange (TSE) for the years 1996–2010, to explore the economic impact in terms of strategic refocusing, stock market valuation and performance effects. By pairing both sides to each deal, we show differences in firm characteristics, returns, and subsequent performance of buying and selling firms. Unlike mergers between whole firms, most subsidiary deals straddled different industries. Most sellers were larger, more diversified and less profitable than buyers. Our event study reveals that abnormal returns were positive for buyers yet insignificantly different from zero for sellers. However, subsidiary sales in the core business earned negative returns, the more so the larger the deal. An analysis of ex-post operating results shows that the performance of sellers often declined after the trade, in particular for firms that divested a core-related subsidiary. We conclude that subsidiary trades in Japan in this period contributed importantly to strategic repositioning and a more efficient use of corporate assets.     

Importance of Input and Interaction in Second Language Acquisition

Nowadays,SLA(Second Language Acquisition) is a hot topic and is attached great importance at both home and abroad.Input and interaction are taken as two very important factors have great impact on the learners' L2 acquisition level and quality.The former research on the above two factors is productive and a lot of research on the importance of input and interaction in SLA is being conducted.Krashen's Input Hypoth-esis and Long's Interaction Hypothesis are the two most influ-ential ones.This thesis first giv...     

中国企业对欧盟逆向投资的动因、问题及对策

欧债危机发生以来,中国对欧盟直接投资的规模逐渐增加、投资领域不断扩大,欧盟在我国对外投资中的地位逐步提高,中国企业对欧盟的逆向投资问题也成为了社会关注的热点。本文分析了中国企业对欧盟逆向投资的动因及存在的问题,进而提出了调整投资方式、发挥政府作用以及实行人才本地化策略等建议,以促进我国企业对欧盟的直接投资。     

Speed in acquisitions: A managerial framework

The advantage of speed is often invoked by academics and practitioners as an essential condition during post-acquisition integration, frequently without consideration of the impact earlier decisions have on acquisition speed. In this article, we examine the role speed plays in acquisitions across the acquisition process using research organized around characteristics that display complexity with respect to acquisition speed. We incorporate existing research with a process perspective of acquisitions in order to present trade-offs, and consider the influence of both stakeholders and the pre-deal-completion context on acquisition speed, as well as the organization’s capabilities to facilitating that speed. Observed trade-offs suggest both that acquisition speed often requires longer planning time before an acquisition and that associated decisions require managerial judgement. A framework for improving manager decisions during acquisitions is discussed and its implications for managers and research summarized.     

National economic disparity and cross-border acquisition resolution

This paper explores the effects of national economic disparity on the completion or abandonment of cross-border acquisitions by combining behavioral perspectives of risky decision making and theories of organizational learning. Using a sample of 2445 cross-border acquisitions announced between 1985 and 2008, we show that an acquisition is less likely to be completed when the acquirer is from a more developed country vis-a-vis the target than when the acquirer is from a less developed country. Furthermore, the higher the economic development level of the acquirer’s country relative to that of the target, the less likely the deal is to be completed. We also find that the time elapsed between the acquisition announcement and completion dates is shorter as the economic development level of the acquirer’s country relative to that of the target is higher.