留住人才与企业的差别化激励

留住人才是企业发展的根本保障。认识企业人才流动的主要原因,掌握不同性质企业人才差别化激励措施十分重要。通过对企业中高层管理者的问卷调查和分析发现,在引起人才流动的原因中,以激励、收入和晋升最为重要。在企业留住人才的策略上,对中高层管理人员最为重要激励措施是提供良好的职业发展通道。对技术人员则以提供令其满意的薪酬最为有效。实行差异化激励能提高留住人才的激励效果。     

上市银行公司治理结构对高管薪酬影响研究

合理的薪酬方案能实现有效地激励上市银行高管,其薪酬方案由银行董事会制定,与上市银行治理结构息息相关。上市银行高管薪酬与国家股的比例、股权集中度、独立董事人数以及董事会、监事会会议成正比;而与法人股的比重成反比;至于监管代理机构的规模则基本没影响。上市银行公司治理结构中的一些约束与控制性因素需要进一步完善,从而促进银行业的健康发展。     

污染物减排中的行业管制与财政激励——基于上海市燃煤电厂脱硫政策的个案分析

实施主要污染物排放的总量控制,仍然是我国“十二五”时期面临的艰巨任务.上海市“十一五”期间出台的促进燃煤电厂脱硫的行业管制与财政激励政策,对完成时下艰巨的污染物减排任务,不仅提供了政策操作的启示,而且提供了进一步完善该类政策的分析样本.促进污染物减排,在政策路径设计上,需要行业管制与市场调节的配合;在当前实施的政策操作上,则是要完善现行的排污收费制度.     

高管股权激励可以促进企业“脱虚向实”吗？——基于经济政策不确定性的调节效应

基于2011—2020年A股上市实体企业数据,研究高管股权激励对企业金融化程度的影响机制及其边界条件。结果表明：高管股权激励显著降低企业金融化程度;高管股权激励通过促进企业实体投资意愿降低企业金融化程度;经济政策不确定性越低,高管股权激励对企业金融化程度的降低效应越强。异质性分析发现,企业所在地区的技术市场和数字金融发展水平较高,高管股权激励对企业金融化程度的降低效应也较显著。研究结论对实体企业完善公司治理、优化投资决策,对政府及金融监管部门引导实体企业“脱虚向实”、促进实体经济高质量发展有一定启示。     

Complaint management and the role of the chief executive

The aim of this paper is to encourage a new stream of research into complaints and the role of the chief executive officer (CEO). The objectives of this paper were firstly to assess the intensity of dissatisfaction driving customers to complain directly to the CEO and secondly to ascertain if the reasons for complaining to the CEO were different to those of complainants using ‘normal’ channels. A leading financial services company in the UK provided access to its complaint letters and its CEO. Based on analysis of a sample of 100 letters sent to the CEO and 100 standard complaint letters, it was found that customers complaining directly to the CEO have a significantly greater intensity of dissatisfaction. However, unexpectedly, despite the greater positional power of the CEO, the reasons for complaining to the CEO were little different to the reasons for using the ‘normal’ channels. Interestingly most of the complainants to the CEO had multiple reasons for complaint suggesting that complaints to the CEO are motivated by multiple underlying service failures.     

Market Performance Measures and Disclosure of Private Management Information in Capital Markets

Thispaper examines the optimal disclosure policyin a principal/agent setting in which investors and a managerdirectly receive pre-decision, non-contractible signals. Themanager's signal is more informative than the investors' signal.Under no disclosure, the market price provides contractible informationabout the investors' signal, whereas it does not reveal the investors'signal if the manager fully and truthfully discloses his signal.The Revelation Principle does not apply and we identify conditionsunder which no disclosure dominates full disclosure, and providea ``hurdle' model in which partial disclosure strictly dominatesboth no and full disclosure.     

Microfinance Beyond Group Lending

Microlending is growing in Eastern Europe, Russia and China as a flexible means of widening access to financial services, both to help alleviate poverty and to encourage private-sector activity. We describe mechanisms that allow these programmes to successfully penetrate new segments of credit markets. These features include direct monitoring, regular repayment schedules, and the use of non-refinancing threats. These mechanisms allow the programmes to generate high repayment rates from low-income borrowers without requiring collateral and without using group lending contracts that feature joint liability.     

高管薪酬激励、创业战略导向与创业型企业成长性关系研究

本文基于2012～2014年创业板上市公司的非平衡面板数据,研究了高管薪酬激励与创业型企业成长性之间的关系,探讨了创业战略导向作为企业内部的增长战略倾向对上述关系的调节作用。研究结果表明：高管货币薪酬、权益薪酬、薪酬差距与创业型企业成长显著正相关;创业战略导向会负向调节高管货币薪酬与创业型企业成长性之间的关系、正向调节权益薪酬与创业型企业成长性之间的关系,而对薪酬差距与创业型企业成长之间关系的调节作用未得到验证。     

商业银行股权激励的特殊意义与现实问题分析

银行业普遍存在的管制,使银行面临着有限的控制权市场和接管威胁,从而大大降低了市场约束银行管理者的能力,因此对银行而言,通过股权激励机制协调股东和管理者的利益、降低代理成本显得尤为重要.我国商业银行实施股权激励不应盲目照搬西方国家的范例,应慎重选择股权激励的实施范围,目前最好只局限在高级管理人员,通过对股权激励机制的合理设计来充分发挥其长期激励效应,切不可盲目扩大激励范围,将股权激励演变成一种新的福利措施.应尽快建立起以经济资本为核心的业绩考核体系,在经济资本的约束下实现业务发展模式和盈利模式的转变.股权激励机制的有效实施离不开完善的银行治理结构.     

企业文化管理实施分析

企业文化的价值已经得到了广泛的认同,然而,由于企业文化抽象而难以管理,利用企业文化提高企业绩效却颇具难度。针对与此,文章从分析企业文化的本质内涵入手,最后落足于构建企业文化的实际活动,以图找到提高企业对企业文化这一管理工具控制的能力,以提高企业文化的执行力。