The state capital investing and operating company pilot reform and SOE bailouts

This paper explores the influence of the State Capital Investing and Operating Company(SCIOC)pilot reform on SOE bailout using a staggered differencein-differences model.Based on a sample of listed SOEs during 2011-2018,we find that when the real controllers of listed SOEs enter the list of SCIOCs,soft budget constraints are alleviated and listed subsidiaries are less likely to become distressed.Mechanism tests indicate that SCIOCs help distressed firms through exiting the market,reducing bank loans,enhancing corporate governance,and improving operating efficiency.Heterogeneity tests show that the effect of SCIOC establishment is more significant in central and western regions,in public welfare and special function industries,for central SCIOCs,for state capital investing companies,when firms are organized in more layers,and for firms that engage in M&As.The empirical results show that the implementation of SCIOCs benefits both micro-enterprise development and state capital layout optimization.

Comprehensive Model for Business Training Based on B-Learning

Training and development for staff are the best option available for companies to survive in a highly competitive global business environment, but for those companies that operate business units located in different cities or countries, it has a high cost for the great dispersion of staff. B-learning is presented as a viable and interesting option that achieves superior results in the learning process while significantly reducing the costs associated with training. In the state of the art, B-learning has been addressed with greater emphasis in academics and the few articles that focused on addressing business training, present partial solutions to the problems exposed. This paper proposes a model that offers a comprehensive solution for managing corporate training based on B-learning, and consists of three phases： design, development and implementation.

Study on the Interior Market Network Structure and Its Efficiency in a Knowledge Based Company

A knowledge based company is the microcosmic foundation of the knowledge economy, the design of its organization structure should amplify the company competence to be agile to the knowledge elements. This paper expounds an interior market network structure which is fit for the company intellectual capital operation, and analyses this organization pattern about the reasons of existence, the effectiveness of growing up in scale, the economies of knowledge distribution and the efficiency of operation, and it will provide some beneficial theoretical guidance about how can a company improve its competition competence in the knowledge environment through organization innovation.

CTO of Saudi Aramco: China's Oil Demand to Rise

At the World Economic Forum＇s threeday meeting in Dalian,Liaoning Province,China＇s economic growth is once again in the spotlight.More than 1,700 participants from 90 countries are attending＂Summer Davos＂,opening in early September,to chart a new course for growth as global recovery sinks into uncertainty.Before the conference began,business leaders from international companies shared their opinions with China＇s news media about China＇s economic prospects and what strategies they may take to readjust to the nation＇s new normal of growth.Here are the excerpts from the interview with Ahmad Khowaiter, Chief Technology Officer of Saudi Aramco：

REPORTERS ON A MISSION

The launch of a Sino-African joint media interview program in Dar es Salaam,Tanzania,on November 28.The initiative aims to help both Chinese and Africans know more about Chinese companies’operations in Africa,said Sun Zhijun（third right）,