林业企业技术创新的政策保障

林业企业技术创新需要有政策保障机制的支持。本文从外部环境、税收优惠、财政资助与投入、人才、风险机制等 5个方面进行了全面的分析 ,并提出了相应的对策。     

证券投资基金业的法律规制研究

证券投资基金法律建设经历了初期、发展、成熟阶段,基本建立起系统的法律制度体系,但与基金业的快速发展相比较为滞后。证券投资基金法律体系需要在基金治理结构、基金信息披露制度、基金法律责任等方面完善制度建设,保护基金份额持有人的利益。     

关于股权分置改革问题的思考

股权分置改革是我国资本市场的一场根本性的制度变革。从2005年股改正式启动至今虽取得了一些成效,但也存在着一些问题。2006年是股改的关键年,一些经营绩效较差的上市公司也将在年内完成股改。有效地进行股权分置改革,对于推动中国证券市场的健康发展具有重要的现实意义。     

Bridging the distance: Managing cross-border knowledge holders

This article examines the micro-level operational difficulties for multinational corporations (MNCs) to generate value from its highly geographically dispersed cross-border knowledge and studies the strategies for overcoming them. Using China as the research context, we identify key geographical, institutional and cultural features of cross-border knowledge holders and examine the dimensions of distance that separates them. We then link these dimensions to the conditions that facilitate cross-border knowledge building processes. In doing so, we propose a conceptual model for overcoming these context-specific knowledge management barriers.     

Illusions of Corporate Power:Revisiting the Relative Powers of Corporations and Governments

A common opinion is that power has shifted from states to companies. This article discusses quantitative and qualitative aspects of power possessed by companies and by states. A more adequate comparison than that between company sales and gross national product is the one between company value added and GNP. Also more adequate is the comparison between the public sector and company net profit. These rival measures take down company power to about a tenth of the sales measure. Also in qualitative terms the "exit power" of the company gives a low impact compared to governmental action and the article concludes that company power by common measures is overestimated. However, the aggregated long-term effect of the market economy on the development of society is most significant. But it is a mistake to use that judgment as an argument for the opinion that business executives are the major power holders in modern societies. Perceptions of power also have an impact on which expectations and commitments that can be judged as realistic and therefore the issue of power is central for the normative discussion about corporate social responsibility.     

自主创新主体的再界定

自主创新是学术界和实践界讨论的热点问题,但由于它的特殊性和时代性,关于它的内涵和主体界定说法不一.从自主创新的产生、发展背景出发,对自主创新的主体及其内涵进行了重新界定,认为自主创新就是在一定时期内具有实际控制权或控股权的内资企业通过自主研发、模仿再创新、集成与合作等方式,以拥有核心技术、自主知识产权或参与并制定国际标准为标志,以最终实现商业价值为结果的主动性创新活动.     

上市公司国有股减持应以四个原则为基本前提

上市公司国有股要能够顺利而切实地减持 ,必须以确立四个相互关联的原则为基本前提 :一是尊重历史 ,确立“不与民争利”的原则 ,按照不高于净资产 /股的价格减持国有股 ;二是承认现实 ,确立“谁持有减持收入归谁”的原则 ,理顺国有股内部各个利益主体的关系 ;三是在减持数额上 ,确立“改变国有股‘一股独大’格局”的原则 ,一次性将国有股减持至控制力之下或全数减持 ;四是在实施步骤上 ,确立“减持与全流通同步实施”的原则 ,避免因“减持”与“全流通”分为两个过程所引致的各种矛盾和风险。     

EFFECT OF CORPORATE SCIENTISTS ON FIRMS’ INNOVATION ACTIVITY: A LITERATURE REVIEW

This study reviews the literature on the effect of corporate scientists on firms’ innovation activities. Traditionally, the scientist's role in a firm is linked to the processes of generation and absorption of scientific knowledge. However, a growing number of studies over the years show that the scientist's role in firm innovation processes is more extensive and that they contribute to the development of successful new products, processes and services. However, there are no comprehensive reviews of this literature. This paper fills the gap by providing a systematic review of the empirical literature on the role of the corporate scientists in the innovation process by investigating: (1) theoretical approaches used to evaluate the impact of scientists, (2) the importance for the firm's innovation activity of scientists’ heterogeneity, (3) those firm innovation activities over which scientists exhibit more influence, (4) the variables moderating the effect of scientists and (5) research implications for managers.     

外资大股东能抑制现金股利隧道效应吗？——基于中国上市公司的实证研究

提升上市公司治理水平、抑制隧道效应是我国证券市场实施引入外资股东改革的重要目的之一。研究采用动态面板系统GMM估计方法,从现金股利隧道效应角度实证检验引入外资股东是否能有效控制控股股东掏空行为,保护中小股东利益。实证结果证明：（1）外资直接持股能够对现金股利隧道效应发挥一定的抑制作用,而间接持股则没有明显作用;（2）直接持股外资大股东对现金股利隧道效应的抑制作用与其持股比例密切相关,当持股比例适度时,外资股东能够抑制第一大股东的掏空行为,降低第一大股东隧道效应。但当外资持股比例达到一定程度,成为第一大股东或与第一大股东接近时,外资大股东的监督作用和隧道效应抑制作用会消失。无论是改变现金股利隧道效应的度量因子,还是使用更为保守的样本,这一结论都是稳健的。     

债权人参与公司治理探析

现代公司治理的一个发展趋势就是公司的利益相关者共同参与公司治理。在公司的众多利益相关者中,公司债权人是其中很重要的利益主体,债权人在公司治理中的作用也日益受到重视。和国外相比,我国在债权人参与公司治理上还有很大差距,因此加强我国债权人参与公司治理问题的研究就显得非常迫切。