集团母子公司财务内控制度设计的思考

本文认为,母子公司间财务内控制度的设计制定,应充分考虑公司性质、资产规模、经营特点及股权分布等因素;集团控股公司财务管理模式是母子公司间财务内控制度设计的出发点和落脚点,集团总部指导下的相对分权式管理更具有可行性;母子公司财务内控制度的设计应涵括资金管理、筹资管理、投资管理.收益与分配管理、内审与考评管理、财务关键人员管理以及财务信息管理等方面。     

企业社会责任之“员工本位”的思考

企业承担着对员工的社会责任,要求企业应该按照国际公认的SA8000企业社会责任标准体系的要求实施管理,保障员工最基本的劳工权,还应体现以人为本的“员工本位”管理理念,使员工积极参与到企业文化建设和民主管理过程中,创造员工的个人价值,在企业管理过程中实现个人价值与企业价值的双重目标。     

Examining the extent of and determinants for sustainability assurance quality: The role of audit committees

This study examines the extent of and determinants for sustainability assurance quality. Data comprise sustainability assurance statements published by the top 100 listed companies in Australia and New Zealand from 2017 to 2019. The findings indicate that Australian companies lead their New Zealand counterparts in sustainability assurance. Although sustainability reporting has risen, assurance rates remain significantly low. Accountants dominate the market, and companies prefer to use their own auditors for sustainability assurance work. Sustainability assurance quality is poor and does not vary significantly among Australian and New Zealand companies. Low-quality sustainability assurance plays a limited role in mitigating potential stakeholder–agency conflicts. The regression analysis indicates that audit committee characteristics such as members' independence, industry/market expertise, and attending meetings enhance sustainability assurance quality, whereas audit committee size has no affect. These findings suggest that audit committee characteristics such as independence, industry expertise, and regular meeting attendance have the potential to reduce stakeholder–agency conflicts by improving the quality of sustainability statement assurance. Our findings build on the sustainability assurance literature by exploring current trends in sustainability assurance practices in Australia and New Zealand where corporate governance codes have been recently revised. Further, these findings are timely given recent changes in standards (International Standard on Assurance Engagements [ISAE] 3000 and Global Reporting Initiative [GRI]). Our study contributes to the audit committee literature and sheds light on the role played by audit committee characteristics on sustainability assurance statement quality. The study findings potentially offer useful insights for practitioners, standard setters, and regulators.     

企业文化对战略类型实施的影响

经营战略的有效实施是依赖于组织战略同企业内部管理流程及文化之间的匹配。过去几十年的时间里,大量的实证研究都集中于经营战略的匹配问题。本文在文献回顾的基础上,建立了企业文化类型与经营战略类型之间的对应关系,从而为企业通过选择和培育适当的企业文化来支持战略实施提供了理论方向。     

Temporal Orientation and Corporate Social Responsibility: Global Evidence

There has been a growing emphasis on the importance of a long-term perspective in academia and practice. Yet understanding of the interdependency of those factors – the temporal preferences embedded in organizations and in societal values as well as the influence of temporal orientation of investors – remains limited. We theorize whether and how a firm's corporate social responsibility (CSR) is affected by the societal temporal orientation, its time horizon, and its investors' time horizon. Using a global sample, we confirm that CSR activity is higher when a country has a long-term orientation culture, when the firm has a long-time horizon, and when the controlling institutional investor has a long-term investment horizon. We also find that the national culture's long-term orientation heightens the effect of a firm's long-time horizon on its CSR. Further, our results show that the effects of temporal orientation are more pronounced in environmental than in social CSR.     

完善我国上市公司治理结构的路径选择

本考证了两种典型的公司治理模式的特征，效率和演变趋势，结合我国上市公司的股权结构分析了公司治理结构，并得出结论：现实的国情和西方公司治理的演变趋势决定了完善我国上市公司治理结构的路戏只能是首先完善公司内部治理结构，未来应朝着以内部治理的主、外部治理为辅的博采众长的混合模式的方向发展。     

国有机构投资者持股能提升企业投资效率吗?

具有国资背景的机构投资者,对于资本市场平稳发展具有重要意义。本文基于我国2015—2019年A股上市公司样本,考察持股对企业投资效率的影响。研究发现,持股显著提升了企业投资效率,并且该影响在代理冲突更严重和所处信息环境更不透明的公司中更加显著。机制检验表明,降低企业内外部信息不对称和代理成本是持股提升企业投资效率的重要渠道。进一步研究发现,国有机构投资者持股时间越长,对企业非效率投资的治理效果越好;细分国有机构投资者类型后发现,致力于长期维护资本市场稳定和上市公司长期健康发展的证金公司和汇金公司对企业投资效率的提升作用显著,但没有发现“救市”基金和外管局旗下的投资平台对企业投资效率有提升作用。研究结论从企业投资效率视角为国有机构投资者持股在微观企业日常经营中发挥的治理作用提供了新颖的经验证据,对进一步提高我国上市公司质量具有启示意义。     

论企业与自然关系协调中的技术选择

人们在检讨工业文明带给人类的后果时,对工业文明的技术的缺陷进行深刻认知。并非是所有的基于当代科学而产生的技术都可以满足可持续发展的需要。为实现人类社会的可持续发展,在实践中,必须对不断涌现的技术进行有标准的选择。我们把经过选择的技术称为“恰当技术”,“恰当技术”的采用展示了可持续发展的美好前景。     

企业的全面业绩评价:考虑企业社会责任

首先提出社会贡献价值(SVC)这个概念,然后讨论了企业的社会贡献价值(SVC)、经济增加值(EVA)等和未来增长价值(FGV)等企业的"德智体"三者的关系;并基于这三个方面,采用因子分析方法全面评价企业业绩,最后得出结论和提出参考性建议。