中外企业社会责任报告信息披露比较

本文通过对中国石油和壳牌石油2006~2009年度社会责任报告在形式和内容上的比较,分析了中外企业社会责任报告披露的异同之处,然后对改进我国企业社会责任报告披露提出了一些重要启示:统一社会责任报告的编制框架;完善利益相关方的参与和信息反馈机制;开展社会责任报告第三方审验;社会责任报告内容要体现平衡原则;选择适当的社会责任报告披露形式以提高披露的效果。     

The impact of introductory accounting courses on student perceptions about the purpose of accounting information and the objectives of business: A comparison of the UK and Japan

This paper is concerned with the impact of introductory financial accounting courses on student perceptions of business objectives. The paper reports the results of a questionnaire survey of UK and Japanese university students which investigated their views at the start and end of an introductory financial accounting module. The views of Japanese students, in comparison with those from the UK, are of particular interest given evidence in the literature that traditional “social market” traditions in Japan are being influenced by Anglo-American “stock market” values. Our results are consistent with such a phenomenon in that Japanese students’ values regarding business objectives show significant changes that are not mirrored by changes in the perceptions of their UK counterparts. We suggest that accounting education is acting as a conduit for views more commonly held in Anglo-American societies.     

市场环境、企业社会责任与基金安全投资转移

当市场环境不好以及不确定性增加时,基金进行安全投资转移。企业积极履行社会责任所形成的声誉资本具有\"类保险\"作用,在面临负面事件或不确定性环境冲击时能够防止股价大幅下跌和市值损失;基金是否会在市场环境不好时将投资组合转向社会责任绩效更高的股票进行安全投资转移呢?使用2010—2017年开放式基金样本,实证检验了企业社会责任、市场环境与安全投资转移之间的关系。研究发现,在市场环境表现不佳时,基金避险需求增加,倾向将投资组合更多地转向社会责任绩效高的股票进行安全投资转移;进一步研究发现基金和基金经理特征影响基金的安全投资转移行为,净资金流入较少、历史业绩差、经理选股能力差的基金根据企业社会责任进行安全投资转移的程度大。研究还发现,基金的安全投资转移行为对基金业绩和基金收益波动产生了积极影响。     

Corporatisation and Corporate Governance in China's Economic Transition

China has sought to improve enterprise performance not through privatisation as in other transition economies, but through corporatisation as means of improving corporate governance. Actual governance practices of corporatised Chinese firms are however seriously defective, characterized by excessive power of CEOs, insider control and collusion, lack of safeguards for minority shareholders and weak transparency. These shortcomings are attributable to factors such as cultural and political traditions, uncompetitiveness of markets, poor legal enforcement, weak debt and equity markets, but above all to continued state dominance in ownership and control of the corporate sector and listed companies. Corporatisation, nevertheless, has created a regime conducive to implementing measures for improving corporate governance.     

大城市社会空间结构演变及其治理——以上海市为例

随着市场化改革的深入,当前中国大城市社会空间正呈现重构与分异的演变趋势,同时也带来许多城市社会问题.以上海为例,在分析当前中国大城市呈现的社会空间结构演变的特征基础上,分析了可能产生的负社会效应,并提出了一些城市空间治理的对策建议.     

Moral Discourse and Corporate Social Responsibility Reporting

This paper examines voluntary corporate social responsibility (CSR) reporting as a form of moral discourse. It explores how alternative stakeholder perspectives lead to differing perceptions of the process and content of responsible reporting. We contrast traditional stakeholder theory, which views stakeholders as external parties having a social contract with corporations, with an emerging perspective, which views interaction among corporations and constituents as relational in nature. This moves the stakeholder from an external entity to one that is integral to corporate activity. We explore how these alternative stakeholder perspectives give rise to different normative demands for stakeholder engagement, managerial processes, and communication. We discuss models of CSR reporting and accountability: EMAS, the ISO 14000 series, SA8000, AA1000, the Global Reporting Initiative, and the Copenhagen Charter. We explore how these models relate to the stakeholder philosophies and find that they are largely consistent with the traditional atomistic view but fall far short of the demands for moral engagement prescribed by a relational stakeholder perspective. Adopting a relational view requires stakeholder engagement not only in prescribing reporting requirements, but also in discourse relating to core aspects of the corporation such as mission, values, and management systems. Habermas’ theory of communicative action provides guidelines for engaging stakeholders in this moral discourse. MaryAnn Reynolds is an Associate Professor of Accounting in the College of Business and Economics at Western Washington University. Dr. Reynolds teaches intermediate financial accounting and is published in the areas of corporate social, environmental and ethical reporting. Kristi Yuthas is the Swigert Endowed Information Systems Professor in the School of Business Administration at Portland State University. Dr. Yuthas teaches accounting and information systems and is published in the areas of social and ethical impacts of management information systems.     

独立董事发言形式化问题研究

依据《2007年沪市上市公司独立董事履职情况分析》及《沪市上市公司2011年度董事、监事和高级管理人员履职情况分析》,考量独立董事发言形式化成因主要有：缺乏独立的选人制度,经济不独立,责权利不对等等。为此,应设置更科学的选人机制,建立独立董事专家库;完善薪酬发放制度,从经济上解决独立性;完善责权利对等机制,督促其履行任职责任。     

企业社会责任履行、R&D投入与财务绩效——基于我国主板上市公司的经验证据

在当前市场竞争环境中,社会责任履行情况已成为企业竞争的重要因素之一,而企业选择主动承担社会责任是否能够有效促进财务绩效的提高和企业价值的实现?基于我国A股上市公司2010-2015年六年数据共3181个研究样本,研究不同作用机制下企业社会责任履行情况、R&D投入与财务绩效的三者的复杂关系。实证结果表明：（1）企业履行社会责任与财务绩效呈正相关关系;（2）不同的作用机制不会改变企业社会责任履行与财务绩效的正相关关系;（3）技术创新投入增强了企业社会责任对企业财务绩效的积极影响,但是这一结果主要是基于研发投入与战略性社会责任的履行保持一致对企业绩效产生正向的刺激效果,而研发投入对利他性社会责任与财务绩效的调节作用表现并不显著。     

Institutions and economic growth in Portugal: a quantitative exploration

This paper presents a broad diagnostic of the level of institutional development in Portugal in the legal, corporate governance and financial systems. A comparative assessment suggests that Portuguese institutions are less developed than their European Union and East Asian counterparts, more developed than Greek institutions and on a level similar to that of Spanish institutions. We use data for a wide cross-section of countries since 1960 and correlate indicators of institutional development with the long-term average growth rate, identifying issues where reform is likely to significantly affect economic growth. We construct three new indices that measure the potential of institutional reform - the impact of reform on growth, the required reform effort and the efficiency of reform index - by taking into consideration the institutional distance between Portugal and the European Union. These indices measure, respectively, which reforms have the most payoff in terms of growth, which are less costly to undertake and which deliver the most growth per required effort. Our results strongly suggest that in a large number of issues, institutional reform may translate into substantially higher rates of economic growth. Of the ten most promising reforms, six are in the legal area, irrespective of which of the indices is considered. Whereas legal reform is promising at the aggregate and the microeconomic levels, in the financial sector aggregate indicators offer the wider scope for productive reform, while in the corporate governance area it is indices at the micro level that hold the most promise. These results support the view that a comprehensive reform effort is likely to deliver higher rates of growth in Portugal, allowing faster real convergence with the rest of the European Union.Received: January 2003, Accepted: February 2004, JEL Classification: O0, O5, K00, K4, G2, G3This paper is based on Firms, Financial Markets and the Law: Institutions and Economic Growth in Portugal, prepared for the conference Desenvolvimento Económico Português no Espaço Europeu: Determinantes e Políticas, organized by the Banco de Portugal. Financial support by the Banco de Portugal, NOVA FORUM and FUNDAÇÃO Para a Ciência e tecnologia and Polti through feder are gratefully acknowledged. Comments from Marcelo Rebelo de Sousa, two anonymous referees and the editor are sincerely appreciated. The usual disclaimer applies.