基于有限理性的连锁董事战略分析

连锁董事是组织广泛采用的一种环境管理战略。那么，“连锁董事”存在的理论基础是什么？这在中国学才是一个比较新的研究领域，少有的几篇文献均以组织为重点展开探讨。国外相关方面研究较早，各学者从不同角度各砟重地加以诠释。为了更深刻、更全面地理解“连锁董事”的存在性，本文在评述西方理论的基础上，对各理论中合理因暑以整合，特别是考虑到现有理论仅从组织层或个人层出发，提出应从组织、个人和社会出发进行多层面分析。同时由于有理论过分强调理性决策，而现实中的组织、个人、社会决策都是有限理性的，应该把有限理性这一假设也纳入到分析框架中。因此，提出由连锁董事个人、连锁组织、社会三个层面的成本、收益分析及有限理性决策组成的新的分析框架。     

我国对外资银行准入的法人导向

《中华人民共和国外资银行管理条例》的出台是我国银行业在全面开放之际，对外资银行监管的一项重大举措，其中要求外资银行在我国境内开展全面业务时必须注册为独立法人的法人导向规定引起了质疑。实际上，这一规定并没有违背我国入世时对金融服务所作出的水平承诺和具体承诺，故我国没有违背我国在WTO项下的义务。而且，这一规定也具有“审慎例外”的审慎性，构成成员方可以背离GATS义务和金融承诺的审慎措施：     

‘An Incomplete Contract Approach to Eurozone Fiscal Governance’ – Commitment vs. Flexibility

In this paper, we take an incomplete contract approach to Eurozone Fiscal Governance between the European Commission (EC) and any heavily debt member state, Greece in particular. Incomplete contract approach makes possible to put a long process of Eurozone Fiscal Governance into an extensive form game in which a renegotiation procedure is incorporated. We theoretically reveal the conflict of interests between the EC (Germany) and Greece over the Greek debt repayment plan proposed in 2015. We show that the Greek’s position is consistent with incomplete contract theory, but that the EC (Germany) does not allow the renegotiation for restructuring for growth-oriented debt repayment program proposed by the Greek government because the EC (Germany) judges that the commitment effect (on fiscal austerity) is greater than the flexibility one (pro-growth effect). This will undoubtedly provide a novel and interesting approach to Eurozone Fiscal Governance.     

Modeling the Impacts of Corporate Commitment on Climate Change

The aim of this paper is to propose an integrative framework for understanding the determinants of business strategies to reduce greenhouse gas emissions and the impact of these determinants on performance. The proposed structural equation model is based on a survey of 319 Canadian manufacturing firms. The study calls into question the traditionally positive relationship between a firm's environmental commitment and its economic motivations. However, the results also show a win–win relationship between the commitment to reduce greenhouse gas emissions and financial performance. This study contributes to the understanding of the motivations underlying the efforts manufacturers make to tackle climate change and their economic benefits. Copyright © 2011 John Wiley & Sons, Ltd and ERP Environment.     

Bankruptcy and firm finance

This paper analyzes how an enforcement mechanism that resembles a court affects firm finance. The court is described by two parameters that correspond to enforcement costs and the amount of creditor/debtor protection. We provide a theoretical and quantitative characterization of the effect of these enforcement parameters on the contract loan rate, the default probability and welfare. We analyze agents’ incentive to default and pursue bankruptcy and show that when the constraints that govern these decisions bind, the enforcement parameters can have a sharply non-linear effect on finance. We also compute the welfare losses of “poor institutions” and show that they are non-trivial. The results provide guidance on when models which abstract from enforcement provide good approximations and when they do not.      

Securing graduate commitment: an exploration of the comparative expectations of placement students, graduate recruits and human resource managers within the hospitality, leisure and tourism industries

This research begins the process of mapping out human resource (HR) strategies appropriate to the needs of actual and potential graduate employees. The perceptions and attitudes of placement students, recent graduates working in the sector and managers with responsibility for graduate development were surveyed, looking at the elements that make up the initial psychological contract of students on first encounter with the sector; the types of organisational HR practice that are seen as meeting the needs of employees; the role that universities can play in constructing expectations and bridging gaps between the graduate and the employer. It was found that the nature of the contract shifts from relational to transactional between placement and employment.     

企业战略中经济利益与环境利益的博弈研究

经济与环境之间博弈一直是人们争论的焦点。根据争议的内容使用分类框架将相关文献分为4类加以分析研究，针对目前研究缺少实践指导的情况，提出基于价值分析的前瞻性环保投资决策方式，使用项目对价值的冲击和资源投入的灵活性两个指标来对前瞻性环保项目可行性进行判断，旨在通过为企业提供可操作性的投资指导，引导企业走适应自身特色的可持续发展之路。     

Consumers' reaction to fair trade motivated price increases

Consumer perception of price increases and their reactions are a topic of great relevance for marketing research and practice. We investigate consumers' acceptance of price increases justified by higher costs due to company's corporate socially responsible activities by conducting two experimental studies. In the first study we examine perceived fairness and intentions following a price increase justified by a fair trade commitment. To assess the green attitude–behavior gap in consumer behavior our second study incorporates a real world experiment to explore actual consumer behavior against stated intentions. Our investigation adds nuance to our understanding of the effects of corporate social responsibility on consumer response to price increases. Our results reveal that a price increase due to a fair trade commitment is perceived as fair and does not have a negative impact on purchase behavior. We contrast our findings with a price increase due to higher taxes and due to profit increase. Our results demonstrate that fair trade justified price increases can skim twice the amount compared to tax justified increases. Furthermore, consumers' actual buying behavior reveals no difference to their stated intentions. Hence, prior research proclaiming an attitude–behavior gap in the context of consumers' socially responsible buying behavior has to be called into question.     

Factors influencing partner selection in strategic alliances: the moderating role of alliance context

The growth of alliances has generated considerable interest in this topic among both academics and practitioners. While multiple factors may affect alliance success, partner selection emerges as one of the most influential. Previous studies on alliances present general models that assume the factors (e.g., trust, commitment, complementarity, financial payoff) that drive partner attractiveness and, in turn, the likelihood of selection, are consistent across varying alliance projects and situations. In contrast, the present study proposes a contingency approach grounded in management control theory that suggests the criteria managers use in choosing alliance partners will vary by alliance project type. Specifically, it introduces a framework that addresses when and why managers select partners with certain, specific characteristics. The results of the present study strongly support hypotheses that the critical criteria for assessing alliance partner attractiveness and selection vary depending on the differential levels of process manageability and outcome interpretability inherent in a strategic alliance. Implications for theory and practice are discussed. Copyright © 2008 John Wiley & Sons, Ltd.     

Valuing and hedging fixed rate mortgage commitments

A fixed rate loan commitment that is binding on the lender but not on the loan applicant is equivalent to a put option. This article uses the Black-Scholes option pricing model to establish a value for fixed rate loan commitments and to derive the hedge ratio for the lending institution to hedge the interest rate risk associated with the commitments in the FHLMC forward market for mortgages. The effectiveness of the resulting hedge is tested in a simulation, where it is found that the result is a 71% reduction in the variance of the value of the lender's gain or loss associated with the commitment period.