推进山东省农业保险发展的对策

当前山东省农业保险在保费规模、保险深度、保险密度以及保障范围方面都与先进省份存在较大差距,其中既有农业保险发展的制度环境不完善、政策支持方式单一等原因,也存在农业保险市场供求主体不足、组织形式单一、市场竞争度低和供求矛盾严重等问题。基于此,需从农业保险发展的制度框架、政策支持体系和农业保险市场体系建设三个方面加以改进,以促进山东省农业保险的持续健康发展,为山东省农业生产和农村经济的发展提供风险保障。     

Business groups in developing capital markets: Towards a complementarity perspective

Prior research suggests that business groups (BGs) in developing economies have emerged as alternatives to poorly developed economic institutions in these countries. In this paper, we argue that this does not imply they are always substitutes. Specifically, we consider the case of capital markets, a key economic institution: while the absence of well‐developed capital markets may indeed have stimulated the emergence of business groups, we propose that BG affiliation and the scrutiny that maturing capital markets impose on firms that participate actively in them nevertheless can play a complementary role in influencing a firm's performance. We find support for our predictions in a novel longitudinal data set of Indian firms that contain both listed and unlisted BG affiliated as well as unaffiliated firms. Copyright © 2014 John Wiley & Sons, Ltd.     

现代企业制度下控股股东代理问题的产生机制研究

企业所有权视角的研究认为,控股股东代理问题的产生原因是控股股东对控制权私人收益的追求,产生条件是控制权与现金流权的偏离。文章从现代企业制度视角分析控股股东代理问题的产生机制,认为现代企业制度为控股股东基于自利目的的侵占行为提供了可能和行为能力,为控股股东利益侵占的后果承担提供了免责机制,使控股股东代理问题的产生具备了一定的制度基础。     

International Trade,Entrepreneurship, and Monopolistic Competition： German Hidden Champions and Global Markets

The Chicago School of Monetarism dominates the debate on the competition models. In the last decades, the pendulum has swung back towards the German historical school of economics by List, Schnmpeter, Gutenberg, and Simon. The new trade theory by Paul Krugman is the standard in analysis of economies of scale and product differentiation in intra-industry trade. Chamberlin＇s product differentiation concept and monopolistic competition theory are included in Krugman＇s theory. Diversity matters in B2B-business in global markets. About 100,000 multinational corporations （MNCs） dominate the international trade of commodities worldwide but they need partners as suppliers of complementary products, services, and technologies, German hidden champions （HCs） that consist of over 1,300 mid-sized firms （Mittelstand） have revolutionizes the managerial economics. In terms of Peter Drucker, striving for leadership is the greatest gamble. Their success rate has been about 90% as Hermann Simon has reported. Their success recipe is the humble choice of markets segments, mainly B2B-industries, to make good business in any kind of goods and articles, not to follow trends or hit lists. The dilemma in EU-27-countries is that only Germany has succeeded to develop its own management doctrine initiated by Friedrich List and modified by Joseph Schumpeter. List argued that economic policy had to be adapted to the needs of specific nations to create the national system of innovation. Germany is the most diversified country worldwide. German small and medium-sized firms （Mittelstand） are globally oriented. Germany＇s family business is the unbelievable success story. Alfred Chandler has been a highly influential business writer. Because of Chandler＇s view, the personal capitalism was generally thought to be the old-fashioned model in comparison to the stock market capitalism. The Germany case is the strong evidence on the fact that Chandler＇s famous conclusion may be wrong. The family-ownership is perhaps the most sus     

Understanding Failure in International Retailing： An Institutional Framework for Future Investigation

The move from domestic market to one that includes major retailers. Whiles prior research acknowledged differences international firms is not proving an easy task for between country environments and stressed the importance of addressing these differences in order to avoid the dangers and failures inherent in internationalisation, there is still lack of suitable framework that captures the effects of the institutional environment on failure in international retailing. The purpose of this paper is to introduce institutional theory as a complementary framework to explain failure in international retailing and suggest propositions for further research. The paper seeks to answer the research question： What are the factors in the institutional environment of a host country that affect failure in international retailing？ Consequently, the objective of this paper is threefold： （1） to introduce institutional theory as alternative theoretical framework to conceptualise failure in international retailing; （2） to identify institutional factors that exert pressures on the operational activities of international retailers in foreign markets and which leads to failure; （3） to provide some research propositions for further investigation. This paper offers several contributions. First, we extend current theories in international business, particularly, the literature on retail internationalisation and institutional theory by exploring pressures and difficulties that international retailers face in a new host institutional environment. Second, we identify a set of institutional factors that exert pressures on international retailers in foreign markets that lead to failure. Finally, with the institutional approach, this study fills the gap in earlier works by developing a complementary framework along with 11 propositions for future research. One major limitation of this paper is that it is conceptual; hence, further empirical analysis is needed to test the suggested propositions.     

聚焦制度创新，推进上海自贸试验区建设

中国（上海）自由贸易试验区成立已一年有余,多项制度创新成效初显。本文从三个维度剖析了上海自贸区的战略意义,梳理了一年来的制度创新,总结了已取得的阶段性成果。     

An Institutional Theory Perspective on Corruption: The Case of a Developing Democracy

The purpose of this paper is to use quantitative data to describe corruption in the SANPS, and use Luo's ( 2005 ) institutional theory to gain insights into how corruption develops and remains entrenched despite the introduction of anti‐corruption legislation. A total of 1,500 questionnaires were distributed to public servants in nine provinces, but predominantly in Kwa Zulu Natal and Gauteng. There were 702 returned giving a response rate of 47%. We conclude that the findings discussed in this paper lend support for Luo's theoretical model being able to provide insight into the development of corruption, its consequences and possible remedies.     

完善地方自发自还债券制度体系建设的思考

财政部于2014年5月正式推出地方政府自发自还债券试点。自发自还债券试点可谓地方政府市场化融资的标志性事件,试点省市将成为独立的举债主体,须主动适应市场规则,接受市场检验,此次试点具有里程碑意义。但同时也要看到,目前包括自发自还债券融资在内的地方政府各类举债行为,还欠缺完善的制度保障。文章回顾了地方政府债券市场融资的模式变迁,在梳理地方政府融资现有制度的基础上,分析了地方政府融资相关制度存在的问题,就构建并完善我国地方政府债券的制度体系提出相关建议。     

国外金融消费权益保护改革进展及启示

加强金融消费权益保护成为危机后国际金融监管改革的重要共识。文章分别以美国、欧盟、英国和日本为代表介绍了国外金融消费权益保护改革取得的进展,在借鉴国外金融消费权益保护改革举措和发展方向的基础上,就完善我国金融消费权益保护工作提出相关建议。     

机构投资者在上市公司治理结构中的角色分析--基于盈余稳健性的视角

本文选取我国沪深两市A股上市公司2009-2013年之间的非金融类上市公司作为研究样本,通过非平衡面板数据和固定效应回归模型进行实证分析。研究发现,机构投资者持股比例对公司盈余稳健性呈负相关关系,即机构投资者对上市公司并没有发挥监督治理效应。