管理层权力制衡强度、债务约束与企业创新投资

企业创新是国家经济可持续增长的关键，受到管理层意愿的影响，因而需要对内部经营者的权力进行制衡。以2010-2018年我国A股上市公司为研究样本，实证检验管理层权力制衡强度对企业创新投资的影响，以及不同债务约束情境下高商业信用配置、高负债水平的调节效应，此外，还考察了产权性质的差异化影响。研究表明，管理层权力制衡强度越大，企业创新投资水平越高；高商业信用强化了该促进作用，而高负债水平弱化了该促进作用。进一步研究发现，管理层权力制衡强度与企业创新投资的关系在民企中更显著；国企能够更好地获得和运用商业信用，使其高商业信用对该关系的强化效应更显著；民企具有更强的债务约束，其高负债水平对该关系的弱化效应更明显。     

How Owners Matter? An Examination of Ownership Type in Corporate Disaster Relief Giving

Little research has investigated the effect of ownership identity (or type) and corporate philanthropy experience on giving. In this research, relying on legitimacy theory, we first assess the effect of ownership identity on corporate philanthropy (CP) in the context of the 2008 earthquake in China. Then we explore moderation effects of firms' prior CP experience and size as proxies for perceived legitimacy on owners' efforts at increasing giving and legitimacy. We find that state and CEO ownership are deterrents, while non‐SOE and institutional ownership enhances giving probability and amount. In addition, there is evidence that firm size and prior CP weaken the effects of institutional ownership on CP. This study provides a complete assessment of owner behaviour. Copyright © 2018 ASAC. Published by John Wiley & Sons, Ltd.     

Exploring the male Chinese tourists’ motivation for commercial sex when travelling overseas: Scale construction and validation

Sex and tourism has long been understudied. Little is known about tourists' motivations for consuming commercial sex while travelling, and even less, if indeed anything, is known about that of Chinese outbound tourists in particular. Based on twenty interviews and two surveys with a sample of 534 male Chinese tourists who had engaged in commercial sex when travelling overseas in the previous 12 months, this study aimed first to explore why male Chinese tourists travelled overseas and purchased commercial sex, and second to construct a comprehensive scale for measuring male tourists’ motivations for overseas commercial sex. With acceptable reliability and validity, the measurement scale yielded in this study consisted of eight motivation dimensions labelled as socialisation, relaxation and escape, travel-related novelty, sexual desire fulfillment/excitement seeking, sex-related learning, sexual mastery, social prestige, and business/pragmatic purpose. Both the theoretical and methodological implications related to the developed scale are also discussed.     

Hi-tech start-ups: legitimacy challenges and funding dynamics

Studies on the legitimacy challenges faced by hi-tech start-ups are still scarce, leaving room for research, and policymaking debate. Legitimacy issues may become difficult to face for hi-tech firms in comparison with other start-ups, because they work in an extreme environment where the technological challenges are at the edge of the scientific possibility. The paper proposes a conceptual model to grasp the relevance of three legitimacy drivers of the hi-tech start-ups for investment decisions. We investigated the ability of 30 hi-tech start-up firms to obtain financial resources from the US investors, employing a set-theoretic approach and carried out fuzzy-set Qualitative Comparative Analysis. Our findings clarify that the funding decisions of US investors are driven by the location of headquarter and R&D of hi-tech start-ups and by the educational experience of the founders. Our study has significant theoretical, practical, and policymaking implications.     

如何提高我国金融业的国际竞争力

针对经济全球化和我国金融业的对外开放，文章从金融创新、金融风险、金融体制改革等方面论述了我国金融业面对挑战应采取的措施。     

城市商业银行发展中面临的难题及对策

作为金融体制改革的产物，城市商业银行在我国市场经济建设中发挥了重要的作用。近年来，部分城市商业银行的经营陷入了困境，引起了社会各界的广泛关注。本文从法人治理结构、组织制度、业务特色、金融风险等几方面分析了其在发展中遇到的难题，带有一定的共性。在此基础上，提出了相应的对策和建议。     

中国商业银行市场结构分析——基于Panzar-Rosse模型

运用Panzar--Rosse模型这一国际上前沿的市场结构判定方法，分析中国商业银行的市场结构，发现其目前正处于垄断竞争状态，垄断性较强。在此基础上本文提出了降低市场准入门槛、改善市场竞争环境的政策措施。     

试论我国商业银行负资本金的确认与计量

本文认为导致商业银行出现负资本金,既有经营性亏损的原因,也有会计确认和计量差异等原因。在加入WTO与《巴塞尔新资本协议》的影响下,有必要重新审视我国商业银行负资本金的确认与计量。     

不同财务管理目标下业绩评价选择及其关系处理

从财务管理目标出发考察企业业绩评价方法的演变过程，是为了在它们之间建立一种联系。不同的财务管理目标下，企业的业绩评价选择会有很大的差异，而其总体趋势是选择综合业绩评价方法。在不同的财务管理目标下选择不同的业绩评价指标时，又要处理好三对关系：短期发展与长期发展、局部利益与全局利益、财务指标与非财务指标。     

我国婚姻中的理性策略

任何一种行为选择都存在理性和非理性之分。理性是相对的,并非是绝对的。婚姻过程的选择也不例外,在某种意义上也是一种理性策略。从社会学的视角出发试图分析婚姻策略中的理性选择问题,目的在于认识和了解婚姻策略的合理性。