高技术企业智力资本对财务绩效影响的实证研究

以我国沪深A股上市的通信、计算机和电子信息板块的45家高技术企业为研究对象,采用智力增值系数法计量智力资本,选取45家公司2007～2009年的相关财务数据,运用SPSS统计软件,通过因子分析、相关分析及回归分析等实证分析方法,研究了高技术企业智力资本及其构成要素对财务绩效的影响。     

国有工业企业社会责任与财务绩效关系研究——基于山东省国有工业企业2007～2008年数据

本文在国有工业企业社会责任相关文献综述的基础上,结合公司社会责任的相关理论,对山东省国有工业企业财务绩效指标与相关社会责任指标之间的相关关系进行了实证研究。文章选取山东省国有工业企业2007～2008年38个细分行业作为研究样本,通过实证分析发现：（1）山东省国有工业企业社会责任衡量指标与其相应会计年度的财务绩效指标之间的相关关系并不明显,个别指标与财务绩效指标之间呈显著的负相关关系;（2）山东省国有工业企业社会责任衡量指标与其下一会计年度的财务绩效指标之间总体的拟合度虽然明显好于相应会计年度内指标之间的拟合度,但是相关性依然不明显。     

浅析群体决策在国有企业决策中的运用

群体决策是随着时代的进步和管理环境的转变而产生的一种决策机制,具有针对性强、可行性好、能提高决策的科学性、利于决策贯彻实施以及参与者敢于承担风险等优点,但同时又可能导致决策的速度和效率低下,受到主要决策者左右,并且使组织承担更大的风险。在建立现代企业制度的过程中,在国有或国有控股企业中实施群体决策将对提高管理科学性发挥重要影响。     

会计师事务所低价进入式定价行为研究——基于A股市场的经验证据

低价进入式定价行为是会计师事务所价格竞争的典型手段。在低价进入式定价行为是否存在这一问题上,国内外不同学者得出了截然相反的结论。针对2009年深沪两市A股证券市场数据的实证检验表明：在我国大陆执业的会计师事务所并没有采取低价进入式定价行为;审计定价基本上是以业务工作量为基础的,并未充分考虑审计风险因素,没有对可能存有较高审计风险的客户收取风险补偿金。     

关于国有企业利润上缴与使用方向的理性思考

利润分配是企业资产所有权的集中体现,企业资产所有权决定利润归属。国家作为国有企业的出资人,拥有对国有企业经营利润的所有权和分配权。征缴后的国企红利除了满足国有企业自身发展的需要之外,还应向民生领域倾斜。应在理清国有资本及其经营真实情况的基础上加快建立国有资本经营预算制度,试行国企利润上缴责任制,不断推进国企改革。     

The moderating effects of customer driven complexity on the structure and growth relationship in young firms

Close exchange relationships with customers are recognized as important for young firms. In fact, close partnerships with customers provide many advantages, such as innovation, opportunity recognition, reputation, etc. The current paper argues that customers with their close exchange relationships create significant complexities for young firms that require effective structural response. Based on past work on customer driven complexity, four parameters of customer driven complexities were conceptualized: customer variability, customer opportunism, customer-interaction variability, and customer-interaction specificity. Using both archival and survey data from 134 young (6 year old or younger) firms, this study tests the moderating influences of customer driven complexity variables on the relationship between structure and growth of young firms. Findings support the suggestion that more formalization and less delegation of authority at the customer interface significantly contribute to the growth in young firms. However, the positive relationship between formalization and revenue growth is found to be weaker when young firms face a higher level of customer variability and stronger when firms face a higher level of customer opportunism. Similarly, the negative relationship between delegation of authority and revenue growth is weaker when these firms face either a higher level of customer-interaction variability or a higher level of customer-interaction specificity.     

异质性企业国际转移的动力机制与路径选择——HFT模型和NEG模型的拓展及验证

将新经济地理学模型(NEG)引入到经典的异质企业贸易模型(HFT)分析框架中,抛弃边际成本不可知的假定,由边际成本度量生产率的差异,拓展了已有的分析模型。研究结果表明,企业生产率的异质性引致了企业的国际转移,且这种转移具有双向性,因而生产率的高低会影响企业对FDI、出口等转移路径的不同选择。并采用我国制造业分行业面板数据验证了模型结论对现实的适用性。我国企业应根据自身的生产率水平来选择是否转移及转移路径,政府应适度鼓励企业对外转移和对内承接,科学推动国际转移内外平衡的发展。     

破产重整对我国上市公司违约边界的影响

本文利用模型分析了债务重整对上市公司违约边界的影响。研究发现在一定条件下,公司有可能在资产价值大于债务面值的情况下选择违约以牟取重整收益,且重整成本和清偿率与违约边界呈反方向变化。因此为防范我国上市公司的违约风险,应该设定较高的违约边界。     

Generic and specific social learning mechanisms in foreign entry location choice

We combine economic and institutional theories of clustering in foreign entry location choice in an overarching social learning conceptualization. Prospective entrants learn about the attractiveness of alternative locations by observing the entry choices of previous investors (‘models’). We distinguish two types of learning that differ in observational focus width but can and do operate simultaneously. With assessment learning, firms judge the economic feasibility and agglomeration benefits of entering a location by observing and following a broad set of models. With bandwagon learning, firm‐level uncertainty narrows attention to, and prompts the following of, specific models, with recentness of model behavior an important moderator. We find broad support for our conceptualization in an analysis of the entries of 692 Japanese electronics firms into Chinese provinces during 1979–2001. Copyright © 2011 John Wiley & Sons, Ltd.     

公允价值计量、信息披露质量与价值相关性

新企业会计准则中的公允价值计量对信息披露产生了重要影响。以2006年至2008年深市A股上市企业为样本进行的研究发现,公司受到公允价值计量的积极影响越多,信息披露质量就会越高。高质量的信息披露能够使会计信息的价值相关性得到显著提高,而公允价值计量则能够进一步提高信息披露质量对会计信息价值相关性的改善程度。