我国开放式股票型基金业绩持续性的实证研究

近年来,越来越多的投资者将会把开放式基金作为其投资产品的一个重要组成部分。而对基金业绩的持续性进行评估是促进基金业健康发展的重要环节,具有非常重要的意义。本文选取了2008年9月前公开发行的122只基金作为样本,采用交叉积率和卡方检验方法对基金的业绩持续性进行实证分析,结果表明:我国开放式股票型基金的业绩一般不具有较为显著的持续性,但指数型基金一般具有较强的持续性。     

渠道权力的来源、使用与渠道绩效——关于我国汽车营销渠道的实证研究

产生渠道冲突的非常重要的原因是渠道成员所拥有的不同的渠道权力来源和使用方式。渠道权力是成员间依赖性的反映,它既来源干强制性权力,也来源于非强制性权力,使用不同的权力引起的后果不同。本文发现,生产商的权力无论来源于强制性权力还是非强制性权力,都对经销商拥有更大的权力,从而牢牢控制着渠道;无论强制性权力还是非强制性权力,都可以引发渠道冲突;生产商对经销商较大的权力和渠道冲突并无必然联系,但对渠道绩效却有显著的正面效应。     

我国公共医疗卫生支出绩效分析

近年来,我国卫生总费用的绝对数每年都在上升,但政府预算的公共卫生支出所占比重却逐年减少,与其他国家相比显得总量不足。本文分别从经济、公平、效率三个方面对绩效进行分析,说明我国公共卫生支出的绩效不容乐观,必须重新审视公共卫生支出规模与结构,重新思考应该如何分配有限的资源,提高全民福利水平。     

配送中心配送绩效评价的研究

探讨了配送中心配送活动的绩效评价指标体系和评价方法。从经济效益、企业运作、作业效果、顾客评价四个方面构建了评价指标体系。确定各指标的权重采用群组层次分析法,对指标的评价采用二级模糊综合评判法,将评价的结果转化成一个数值,使评价结果更加准确。     

首旅酒店EVA业绩评价研究

EVA业绩评价法立足于为股东创造更多财富的经营目标,有助于企业更加客观地判断经营现状和调整经营策略,近年来被越来越多的企业选择采用.本文以首旅酒店为例,探讨EVA模型在旅游业中的具体应用,分析EVA模型相较于传统的业绩评价指标的优点,并提出具体的实施建议.     

企业人力资源绩效评估中的激励型互动赋权模型

绩效评估是激励机制中的重要一环,企业中的人力资源部门常常要对其员工进行绩效评估,以确定员工的工作表现,再对表现优秀者给予一定的奖励,以达到激励员工的效果。而传统的评估方法的缺点是不能引入员工的参与,不能达到很好的激励效果。本文提出一种能充分引入员工参与,调动员工积极性的企业人力资源绩效评估中的激励型互动赋权模型。     

对国家助学贷款可持续性发展的思考

国家助学贷款是国家利用金融手段加大对高校贫困家庭学生资助力度而采取的一项重要措施,也是进一步完善高校资助政策体系的新探索。实施七年来取得了显著的成果,但从目前情况来看,仍然存在许多问题值得我们去探讨,本文从国家助学贷款政策的绩效、影响因素、可持续性发展的思路与对策等方面加以分析,并提出相应的解决方法。     

Revisiting carbon disclosure and performance: Legitimacy and management views

With corporate disclosure of carbon emissions rapidly increasing, the long-standing question remains whether carbon disclosure has any influence on the improvement of carbon performance. Previous studies of environmental disclosure and performance have predominantly focused on whether disclosure is a substitute for poor performance. Little attention has been devoted to the more important question about how changes in disclosure may lead to subsequent changes in performance over time. Following the rationales taken by the legitimacy and management perspectives, we revisit the relationship between carbon disclosure and performance, with a focus on changes that disclosure may (or may not) create. Using a change analysis of Global 500 companies and their carbon emission and disclosure data released between 2008 and 2012, this study finds that the change in carbon disclosure levels is positively associated with a subsequent change in carbon performance (examined through direct and indirect carbon emission intensities). Thus, regardless of whether disclosure has been used as a legitimising tool for prior poor performance, this study confirms that carbon disclosure motivates companies and creates an ‘outside-in’ driven effect for subsequent change and improvement in carbon performance. However, the association between changes in carbon disclosure and performance is relatively weaker in high energy-intensive firms.     

Behind managerial reforms: the French experience

Inspired by new public management (NPM), managerial reforms in many countries from the 1990s onwards focused on three criteria: effectiveness, efficiency and enhancing service quality. These criteria were meant to be given equal weight in measuring performance, but this paper shows that some criteria dominated. The reform experiences of four countries are compared, with a focus on French reforms.     

Financial constraints and asset pricing: comprehensive evidence from London Stock Exchange

This study provides comprehensive evidence on the pricing of financial constraints (FC) risk on London Stock Exchange during the period 1988–2013. Utilizing a large number of proxies for FC, we find that investors are not compensated with higher premia for holding shares of financially constrained firms. To the contrary, in most of the cases, the most constrained firms significantly underperform, both statistically and economically, the least constrained ones. Focussing on the Whited–Wu index to construct a zero-cost FC factor that goes long the most constrained firms and sells short the least constrained ones, we find that this factor carries a significantly negative premium and it is priced in the cross-section over and above the commonly used risk factors.