小企业的定价策略分析

与大中型企业的定价理论与定价方法相比,小企业(包括新创企业和新技术企业)的定价理论和方法一直缺乏完整性和可操作性,以往的定价方法大多是为大型公司服务,有时不得不将小企业当作小型的大企业来处理。小企业的定价策略渐渐成为一个突出的问题。本文主要说明小企业的定价特点,同时介绍了几个小企业(包括服务型小企业和新技术小企业)的定价方法。     

Learning about leadership and firm growth through monthly data collection and dialogue with entrepreneurs

Academics often are criticized for doing research that is irrelevant and esoteric. Additionally, the review cycle is lengthy, and even when high quality research is produced, results are unlikely to reach the practitioner for years. Thus, in order to address the needs of both scientists and practitioners, a monthly survey of entrepreneurs was begun. Although the research study topic is how firms grow, the focus of this paper is on the research method used to understand the subject. The paper will lay out the logic for the monthly research process, explain the outcomes of the system, and provide the reader with some early and tentative findings from the ongoing work on how firms grow.     

会计信息透明度——一种理论分析模式

本文提出一种会计信息透明度的新的分析视角:(1)从会计信息供求双方相互作用的角度来认识会计信息透明度;(2)把经典的成本一收益分析方法运用于会计信息供求双方行为的解释;(3)从静态和动态两个角度,对会计信息透明度的一般状况及变化情况进行理论分析。     

ENTERPRISE REFORM AND CORPORATE GOVERNANCE IN RUSSIA: A QUANTITATIVE SURVEY

Abstract.  The objective of this paper is to verify the range and depth of the study on corporate governance in Russia through a comprehensive survey of 202 research works. With regard to the internal structure of Russian corporations, a great deal of research has been conducted in a relatively short time since the collapse of the Soviet Union by many highly motivated researchers, who have provided insightful perspectives. These achievements, however, place too much emphasis on the empirical analysis of the interrelation between ownership structure and corporate restructuring, leaving some critical themes open for further discussion. As the twenty-first century begins, a well-balanced research base should be established in this field in order to identify the reality of Russian corporations from a multifaceted perspective.     

基于环境会计思想的企业财务评价体系问题研究

本文从企业财务评价的研究现状出发,结合企业财务评价的实际情况,总结了目前企业财务评价中存在的一些问题,并针对这些问题,以可持续发展理论为指导,提出了将环境会计这一新兴学科的思想引入企业的财务评价体系之中,并提供一些实际操作中的建议。     

Understanding corporate B2B web sites' effectiveness from North American and European perspective

The globalization of economic activities has led multinational business-to-business (B2B) firms to use their corporate web sites extensively to communicate with their stakeholders. Using a field study of 368 business customers, this paper examines three factors of information that influence corporate web sites' effectiveness in a B2B context and whether these factors differ by web site user's national origin. Results indicate that informativeness of a corporate web site is important for both North American and European visitors. Quality of information is important for European users but not an important aspect for North American users. Usability is the most important factor for North American users but it is not important for European users. Implications of these results are discussed for managerial practices and further research.     

Audit committee composition and the use of an industry specialist audit firm

Independent, competent boards of directors and audit committees are said to be important mechanisms of corporate governance. The purpose of the present study is to empirically examine the association between audit committee composition and audit quality. Specifically, the link between the proportion of non‐executive directors on an audit committee, financial qualifications of directors and the number of audit committee meetings held in a year are investigated and expected to have a positive association with the quality of the audit firm used. Audit quality is proxied by industry specialization. The results support the link between a higher proportion of non‐executive directors on an audit committee and use of an industry specialist audit firm. Other measures of audit committee quality (those with a higher proportion of directors with financial qualifications and those that meet more frequently) are not significantly associated with the use of an industry specialist audit firm. Sensitivity analysis shows that the presence of an audit committee is linked to use of an industry specialist audit firm.     

Takeover bids, unconditional offer price and investor protection

In this paper, we develop a contingent claim analysis on shareholders' right to sell unconditionally their shares at the acquisition bid price during a takeover bid procedure. Compared with a situation without any guarantee, this regulation brings about wealth transfer towards outside shareholders. Why, in an apparently irrational way, do outside shareholders, who may benefit from a price guarantee, not systematically sell their shares? That question emphasizes the outside shareholders' behavior. Using a real option valuation model to evaluate the price guarantee opportunity, we show that an equal treatment rule between controlling and outside shareholders may lead outside shareholders to sell their shares.     

Monitoring by the financial press and forced CEO turnover

This paper examines Wall Street Journal news stories about 79 firms that forced CEO turnover and a matched sample of firms that did not force CEO turnover. In the two years prior to turnover, firms in the forced-turnover sample were the subjects of 76% more news stories about poor firm performance despite being from the same industry, of similar size, and similar performance as a sample of matched firms. Overall, the evidence suggests that scrutiny of poor firm performance by the financial press increases the likelihood of forced CEO turnover.     

Web‐Based Disclosure About Value Creation Processes: A Monitoring Perspective

Adopting a monitoring perspective, this study aims to explain how and why firms provide web‐based disclosure about their value creation and its underlying processes. We rely on the balanced scoreboard approach to measure disclosure. Our results suggest that costs incurred by capital markets' participants as well as monitoring by the board and the media drive disclosure. Moreover, we argue and document that a firm's disclosure is actually a part of its governance configuration and influences some board processes.