论公司发起人的法律地位

发起人的法律地位是指在设立股份有限公司或有限责任公司的过程中发起人与发起人之间的关系,以及发起人之合伙与成立之公司之间的关系。在公司设立过程中发起人与发起人之间是一种合伙关系,当公司不能成立时,发起人对设立公司所产生的债务和费用承担连带责任;当公司成立时,发起人在公司设立过程中所设定的权利义务均转归成立之公司。     

公司发起人忠实义务之正当性考察

发起人忠实义务在历史上可追溯至英美法系的Erlangerv．New Sombrero Phosphate Co．案例，该案最早确定了公司发起人忠实义务。结合2005年中国新修订的《公司法》，公司发起人忠实义务之正当性则主要来自于司法的现实需求及对效率、公平的价值追求。历史与现实都昭示着发起人忠实义务是来自限制公司发起人滥用权利、避免利益冲突的迫切需要。     

Satellite fans: Does sport nostalgia influence purchase intention toward sponsors’ products?

The purpose of this study was to investigate how nostalgia influences their attitude towards the European Professional Football Leagues (EPFL) sponsors and purchase intention towards EPFL sponsors' products. Based on a convenience sampling, a total of 317 EPFL fans in Singapore responded to an online survey that included items on sport nostalgia, attitude towards EPFL sponsors, and intention to purchase EPFL sponsors' products. Data were analysed using confirmation factor analysis (CFA) and structural equation modelling (SEM). The results showed that sport nostalgia had a direct positive effect on both attitude and purchase intention towards EPFL sponsors’ products. Also, this study found that sport nostalgia had a significant indirect effect on purchase intention through attitude. From the findings of this research, sponsors could understand the role of sport nostalgia and would be able to implement marketing strategies that direct their consumers to purchase their products.     

当前我国独立董事职能弱化原因及对策分析

独立董事制度的出台,进一步完善了上市公司的法人治理结构,遏制“内部人控制”行为,防范“出资人风险”,维护全体股东利益提供了制度保证。但在当前条件下,要使独立董事真正有效地“独立”发挥作用,还需要一个过程。本文从对“独立董事”制度产生的时代背景的分析入手,着重阐述了当前我国“独立董事”职能弱化的原因,并对健全独立董事制度、强化独立董事职能,进一步完善上市公司治理结构提出了对策建议。     

The Strategy of Going Public: How UK Firms Choose Their Listing Contracts

Abstract:   UK firms going public have a choice between public offers and placings. This choice has important implications in terms of who bears the risk of the issue failing and of its costs. We find that firms with higher ex ante uncertainty choose a placing contract. Highly reputable sponsors and creditor screening serve as signals of firm quality, enabling such firms to choose a public offer. Large and multinational firms usually choose a public offer whereas there is some evidence that very small issues choose a placing. Finally, the 'hotness' of the IPO market increases the probability of placings.     

Cause-Related Marketing: Keys to Successful Relationships with Corporate Sponsors and Their Customers

SUMMARY

An increasingly popular method for nonprofits to raise awareness, educate the public, and receive financial support from corporations is through cause-related marketing. The distinctive feature of cause-related marketing is the corporate sponsor's contribution to a designated cause being tied to customers' participating in revenue-producing transactions with the sponsor. The sponsor benefits from favorable publicity and increased sales. This article discusses factors contributing to the potential success of a cause-related marketing campaign: the sponsor's product quality, fair pricing, and customer traits; the nonprofit's and the sponsor's reputation, shared values, good communication, and commitment; a well-planned and executed campaign, and specific terms that protect both party's assets and clearly outline each party's responsibilities.     

我国股票发行通道制与保荐制下IPO定价效率的比较研究

采用2001~2008年沪深股市的IPO数据,对通道制与保荐制下的IPO发行效率进行了比较研究。结果表明:通道制下只有公司的发行量、盈利性因素在IPO定价中得到体现,发行效率有限。而保荐制下包括公司规模、成长性、盈利性、偿债能力、经营效率在内的内部因素在定价中得到了有效的体现,同时承销商声誉对公司的IPO定价效率具有显著影响。这说明通道制下IPO定价效率有限,保荐制下IPO定价效率更高,定价更趋于合理。