美国对华贸易技术壁垒的政治经济学分析

技术贸易壁垒已成为中美贸易摩擦的最主要原因之一。本文拓展了格罗斯曼和海普曼的关税模型,对美国对华贸易技术壁垒进行政治经济学分析,指出贸易技术壁垒是美国政府与相关利益集团博弈的结果,其存在具有必然性和长期性,进而提出对我国政府、企业、行业协会的政策建议。     

An Investigation of Ethics Officer Independence

In this paper, we examine whether ethics officers are able to perform their assigned duties independently of organizational management. Specifically, we investigate whether inherent conflicts of interest with company management potentially hinder the ability of ethics officers to serve as an effective monitor and deterrent of unethical activity throughout the organization. As part of our analysis, we conducted 10 detailed phone interviews with current and retired ethics officers in order to determine whether practicing ethics officers feel the need for additional independence protection from management. We propose that the current system in which ethics officers report to management must be changed in order for ethics officers to effectively perform their jobs. Specifically, we maintain that ethics officers should (1) be hired by, (2) be fired by, and (3) report directly to the corporate board of directors rather than company management. Such a change in the reporting environment would greatly enhance the independence of ethics officers. W. Michael Hoffman, Ph.D., is the founding Executive Director of the Center for Business Ethics at Bentley College. He received his Ph.D. in Philosophy at the University of Massachusetts/Amherst, has authored or edited 16 books, and has published over 70 articles. In addition, Dr. Hoffman was the first Executive Director of the Ethics Officer Association and currently is the advisor to its board of directors. John D. Neill, Ph.D., CPA, is a professor of accounting at Abilene Christian University and has previously published articles in numerous journals including the Journal of Business Ethics, Journal of Accounting Literature, Accounting Horizons, Journal of Applied Business Research, the Financial Analysts Journal, and the Journal of Accounting, Ethics, and Public Policy. O. Scott Stovall, Ph.D., is an assistant professor of accounting at Abilene Christian University and has published articles in the Journal of Business Ethics, Journal of Applied Business Research, Management Accounting Quarterly, and The Journal of Accounting Case Research.     

分层建设用地使用权的权利冲突及其解决

研究目的:厘清中国分层建设用地使用权的性质、特征及权利冲突,研究提出解决权利冲突的立法论路径和民法解释机制。研究方法:比较分析和民法解释学相结合。研究结果:(1)中国物权立法通过分层建设用地使用权的规定将空间权利纳入保护范围,而未采纳独立空间权的制度构造;(2)分层建设用地使用权空间上具有独特性,但可以与中国《物权法》结构性原则相契合;(3)现行立法对于分层建设用地使用权引发的权利冲突及其解决作出了原则性规定,需要从立法论和解释论角度重新检视。研究结论:在建设用地使用权制度框架内可以实现对地上与地下空间的物权保护,对于分层建设用地使用权引发的权利冲突之解决,既要在立法层面适度进行改良,进一步细化完善《物权法》第136条有关规定;又要从法解释层面立足既有规范,借助相邻关系和地役权以及物权请求权制度措施,解决分层建设用地使用权权利冲突。     

Interlocking directorates and conflicts of interest: the Rotterdamsche Bankvereeniging,Müller & Co. and the Dutch financial crisis of the 1920s

How can interlocking directorates cause financial instability for universal banks? A detailed history of the Rotterdamsche Bankvereeninging in the 1920s answers this question in a case study. This large commercial bank adopted a new German-style universal banking business model from the early 1910s, sharing directors with the firms it financed as a means of controlling its interests. Then, in 1924, it required assistance from the Dutch state in order to survive a bank run brought on by public concerns over its close ties with Müller & Co., a trading conglomerate that suffered badly in the economic downturn of the early 1920s. Using a new narrative history combined with an interpretive model, this article shows how the interlocking directorates between the bank and this major client, and in particular the direction of influence of these interlocks, resulted in a conflict of interest that could not be easily overcome.     

失衡的天秤:直面企业劳资矛盾

劳资矛盾已成为当前企业面临的严峻问题。劳资矛盾不仅造成“工时的浪费”、“工作努力的浪费”以及员工道德风险的增加,甚至可能造成员工退出合作,给企业带来内部组织成本的大幅提升,导致企业生产效率受损。实现真正的“双赢”,企业必须做出积极而正确的努力。     

How do US investors perceive the risk of local political corruption? Evidence from acquisition announcement

This study examines the impact of local political corruption on investors’ evaluation of firms’ mergers and acquisitions (M&As) in the US. Using the number of corruption convictions of government officials reported by the US Department of Justice, we find that acquirers in more corrupt court districts experience lower acquirer announcement returns, lower combined acquirer and target announcement returns, and are less likely to complete acquisitions. We further find that the relation between local political corruption and acquirer announcement returns is worsened when acquirers operate primarily in the headquarters state. Overall, the results suggest that local political corruption has an adverse impact on investors’ evaluation of a firm’s M&A profitability.     

化解内部审计潜在冲突的方法

内部审计置身于组织内部,其本质是监督,由此决定了其与组织内相关利益方产生潜在冲突的可能性,如与高管层、与董事会、被审计部门的冲突等。可以说,内部审计潜在冲突是内部审计职业之必然,其中最为突出的是内部审计部门与被审计部门之间的潜在冲突。能否解决好这类冲突,直接关系到内部审计能否发挥建设性的作用。过去学者们多从内部审计师个人层面着眼研究化解内部审计冲突的方法,本文以罗宾斯冲突理论中的潜在对立阶段三要素为理论依据,结合大亚湾核电运营管理有限责任公司内部审计实务经验,从组织层面研究如何化解内部审计潜在冲突。     

Within-syndicate conflicts,loan covenants,and syndicate formation

We study how conflicts within a lending syndicate affect loan contract and syndicate formation. We argue that loan provisions serve an important dual function: In addition to moderating borrower–lender conflicts, they reduce within-syndicate conflicts. We show that greater potential for within-syndicate conflicts is associated with more and stricter covenants. Loans are less restrictive when the interests of participants and the lead arrangers are better aligned, for example, when participant–banks have stronger relationships with the lead arranger or hold borrower's equity (indirectly). Overall, our results show that covenant choice, syndicate formation, and lead arranger's loan allocation all play an important role in reducing within-syndicate conflicts.     

Planning consistency and implementation in urbanizing China: Comparing urban and land use plans in suburban Beijing

The evaluation of the extent to which urban and land use planning have achieved their objectives is crucial to better management of urban land development. China’s urban and land use plans have the common purpose of controlling urban sprawl. This research aimed at comparatively assessing the consistency and implementation of these plans, considering the Changping District in suburban Beijing as a case study. Three main findings were obtained: (1) each plan used different strategies to control new developments, and there were several quantitative and spatial conflicts between the two plans; (2) neither plan has been well implemented or effective in controlling urban sprawl, despite the slightly better performance of the land use plan; (3) core-periphery decreasing trends were revealed in land quota allocation and effectiveness of planning implementation. Remote regular towns received the least land resources from the top-down planning system but also developed fast, mainly through informal and illegal approaches. Further investigation into the double failure of China’s current spatial planning system in quantitative and spatial control over urban land development requires a deeper integration of various spatial management systems, a fundamental transformation of planning philosophy, and a higher respect for peripheral areas in urban-rural integration. The planning assessment approach and reform recommendations developed on the basis of the Chinese practice are probably referable for other developing countries facing similar processes of rapid urbanization and imperfect spatial management.     

DB计划的公司治理效应：基于投资效率视角的分析

检验了企业的设定受益型企业年金（DB计划）与企业投资效率之间的关系,以此揭示中国情境下企业年金的公司治理作用。利用手工收集的2013—2016年参与DB计划的A股上市公司数据,并通过倾向评分匹配法为实施DB计划的企业筛选出对照组样本,以此来控制样本自选择问题。研究发现：实施DB计划的企业相较于未实施DB计划的企业,具有更高的投资效率。对两条可能的作用机制的检验发现,在股东高管代理冲突更严重组中,DB计划降低非效率投资的效果更明显,表明其通过激励机制起作用;在破产威胁更严重组中,DB计划降低非效率投资的效果更明显,表明其通过利益趋同机制起作用。研究结论对于进一步认清DB计划的实施收益具有重要的意义。