高管团队断裂带对创业企业成长绩效影响的实证研究——创新强度的调节效应

近年来，高管团队断裂带对企业绩效的影响引起了国内外学者的广泛关注，然而高管团队断裂带究竟是促进还是抑制了企业绩效尚无一致结论。基于交叉分类视角，以我国2011—2018年创业板民营上市公司为研究样本，应用广义最小二乘法，实证分析了高管团队断裂带对企业成长绩效的影响，以及企业创新强度对二者关系的调节作用。实证研究结果显示：高管团队任务相关断裂带和社会分类断裂带与民营创业企业成长绩效存在显著的倒U型关系，同时，企业创新强度对高管团队断裂带与民营创业企业成长绩效关系具有显著调节效应。具体而言，企业创新强度越高，高管团队任务相关断裂带和社会分类断裂带与民营创业企业成长绩效间的倒U型关系越显著。     

论正外部性与上市公司会计信息披露

本文从正外部性会使资源的社会提供不足这一新古典经济学原命题出发,从数量与质量方面考察正外部性对上市公司会计信息披露的影响。由于信息的政府强制供给,正外部性对会计信息的影响为零;根据张五常的总量相等原则及考虑合约内效应的主要影响,正外部性对会计信息的影响亦是不显著。在此基础上,对会计信息披露中出现问题的原因进行了探讨,提出提高会计信息披露质量的建议。     

Distinctive arrangements for international interconnection?

An issue of growing importance in telecommunications policy is the relationship between interconnection for domestic and international telephony. While international telephony's need for international transport is an inherent distinction, that factor will not determine distinctions in interconnection arrangements. Under the existing pricing structure for telephony, cross-border rent shifting is the key issue. Innovations in the pricing structure for telephony, whether through Internet telephony or other avenues, offer the potential for changing the structure of interconnection negotiations and eliminating distinctions between international and domestic telephony interconnection.     

人工智能对制造企业是否存在“生产率悖论”

在新一轮科技变革和产业革命背景下,人工智能已深度融入国民经济各产业,成为产业发展的重要驱动力。人工智能能否促进制造企业生产率提升,已成为新时代中国制造业高质量发展的关键。利用2015—2017年中国A股制造业上市公司相关数据,实证检验人工智能对制造企业生产率的影响,构建基于结构方程的多重中介效应模型,分析制造企业应用人工智能技术影响生产率的内在机制及路径。研究发现,人工智能提升了制造企业生产率;市场份额对人工智能与制造企业生产率的关系有显著负向调节作用;人工智能通过劳动力数量、物质资本使用效率和技术创新产出3种中介变量显著促进企业生产率提升,并通过人力资本使用效率和技术创新投入抑制企业生产率提升。     

我国会计师事务所审计质量控制研究

随着国内外舞弊案件的不断曝光和披露,会计师事务所的审计质量问题越来越受到社会各界的广泛关注,也成为影响注册会计师行业生存与发展的重要因素。因此,对影响审计质量的诸多因素加以系统分析,积极探索提高审计质量的有效途径,是我国注册会计师行业目前面临的重大课题。     

Unpacking Institutional Distance: Addressing Human Capital Development and Emerging‐Market Firms’ Ownership Strategy in an Advanced Economy

As latecomers to global business competition, emerging‐market multinational companies (EMNCs) utilize cross‐border mergers and acquisitions (M&As) to quickly acquire strategic assets, resulting in an improved competitive position. Advanced markets with well‐established firms and well‐developed market‐supporting institutions become particularly important destinations for EMNCs’ foreign operations. Institutional distance, which represents conflicting legitimacy requirements between the host and home institutional environments, is expected to be negatively associated with the foreign acquirer's ownership position. The current study examines a sample of EMNCs’ cross‐border M&As in the United States between 2005 and 2011 and reveals the unique nature of EMNCs’ ownership strategies. Taking both formal and informal institutions into consideration, our findings suggest that EMNCs originating in countries with lower levels of human capital development may have more urgency in seeking ownership control in advanced markets and are less influenced by the negative association of institutional distance in their ownership strategy. © 2016 Wiley Periodicals, Inc.     

Quantifying Sources of Risk in Global Food Operations and Supply Chain

The food industry plays a significant role in food supply. However, it is increasingly facing a significant number of risks to tackle. This article provides insight into sources and quantification of risk, which can restrict food operations and supply chain performance. Certainly, risks imposed by today's constantly changing global environment makes it imperative for food and agribusiness firms to develop purposeful proactive and predictive risk management for their global supply chains. We proposed the analytic hierarchy process (AHP) model to analyze sources of risks attached to the focal firm's global food operations and supply chain. The identified risks were from a review of relevant literature, expert opinions from the focal firm supply chain C‐level executive, and consultants in the food industry. We grouped the identified risks into seven categories and discussed the risk mitigation strategies. We validated the proposed model using a case study involving a focal food and agribusiness firm with global presence. © 2016 Wiley Periodicals, Inc.     

中国企业社会责任博弈分析

本文通过企业、政府、社会利益博弈分析指出,如果没有中央政府的监管,企业与地方政府必然从自身利益最大化出发,做出有损于社会的行为.如果中央政府对企业社会责任治理策略进行选择,其最佳策略是加大对地方政府,而不是对企业的监管.     

中小企业知识产权融资的国际经验与启示

本文研究美国、德国、日本与韩国等先进国家办理知识产权融资的现状与问题,分析总结了这些国家的市场机制与经验以及我国知识产权融资的主要障碍,对建立我国知识产权相关的服务机制,增强信用机制和充分发挥政府的作用提出了若干建议。     

Privatization and production efficiency in Taiwan's telecommunications industry

Many managers, economists, and policy-makers have long believed that the production of a private enterprise is more efficient than that of a public one. This paper investigated whether it was good policy to privatize Taiwan's telecommunications industry by comparing the changes in efficiency in Chunghwa Telecom Company (CHT Co.) before and after privatization. The data envelopment analysis (DEA) model was used to evaluate their operational performance both pre- and post-privatization. The technical efficiency (CRS) computed with the CCR model assuming constant returns to scale, the technical efficiency (VRS), and the scale efficiency (VRS) were obtained with the BCC model assuming variable returns to scale, using the time-series data from CHT. The findings of this study show that the production efficiencies of CHT, both pre- and post-privatization are inefficient since all of the technical efficiencies are smaller than one.