Analysis of the Relationship between Ultimate Controlling Shareholders and Private Enterprises＇ Business Performance

In China, major shareholders of private listed enterprise could control its production and operation by virtue of few resources which makes it possible for ultimate controlling shareholders to expropriate minority shareholders＇ rights and interests.In this paper, we studied the relationship between ultimate controlling shareholders and business performance of private enterprises based on the theory of ultimate controlling shareholders and made relevant conclusions and recommendations.

Risk Factors of Low Back Pain among the Chinese Occupational Population:A Case-control Study

Objective To explore the risk factors of low back pain among the Chinese occupational population in several major industries. Methods A total of 7200 subjects （3600 cases and 3600 controls） were randomly sampled from a cross-sectional study, and they were investigated for individual and occupational factors of low back pain. The potential risk factors were first selected by using chi-square tests. Secondly, collinearity diagnosis proceeded by using the Kendall＇s rank correlation. Finally, binary logistic regression model was used for multi-factor analysis. Results Collinearity diagnosis showed that there was a severe collinearity problem among the potential risk factors of low back pain. Logistic regression model included 20 variables with statistical significance. Bending neck forward or holding neck in a forward posturefor long periods （0R=1.408） was the most important risk factor inducing low back pain in this study, followed by bending heavily with the trunk （0R=1.402）, carrying out identical work almost for the whole day （0R=1.340）. Additionally, suHicient normal break was a protective factor of low back pain. Conclusion Low back pain among the Chinese occupational population was associated with body height, occupation, work organization, physical work, working posture, and others. All these risk factors could be regarded as the indicators of low back pain, and some relevant preventive measures should be taken to reduce low back pain risk.

Tracing Ultimate Shareholders＇ Double Control Chain in Listed Companies- Using the Theory of Organizational Routine Evolution

Based on the epistemology and methodology of organizational routine evolution, this paper presents a systematic analysis on how ultimate shareholders control listed companies by means of equity control chain in a pyramid structure and social capital control chain hidden in social networks. First, this paper examines the internal logic of ultimate shareholders＇ double control chain and designs an iterative model for dynamic evolution intent proceeding from ultimate shareholders ＇degree of intent for social capital control. Finally, with the case study of Inner Mongolia Caoyuan Xingfa Co., Ltd., this paper reveals the process and mechanism of ultimate shareholders＇ creation of double control chain.

Shareholder Structure and Discretionary Regulation of Accounting Results in Enterprises: The Case of Cameroon

Debates on shareholder structure and discretionary management of accounting results have carried forward controversial results. This study is intended to analyze within the Cameroonian context the impact of shareholder structure on the management of accounting results in enterprises. More specifically, its objective is to analyze the impact of shareholder structure on the adjustment of regulating discretionary accounting variables. A panel of enterprises is constituted over the periods 2013, 2014, and 2015 in Cameroon. The modeling of regulating discretionary accounting variables has been carried out according to the model of Jones (1991). The different results obtained show that the degree of concentration of the capital seems not to dissuade the management of result per long-term positions. Foreign ownership and state property stimulate management by regulating discretionary accounting variables.

Health risks of pest control and disinfection workers after the COVID-19 outbreak in South Korea

The exposure patterns of pest control and disinfection workers have changed after the coronavirus disease 2019(COVID-19)outbreak,but the health risks of chemical exposure have not been assessed.We identified these workers’chemical exposure patterns and risks before and after the COVID-19 outbreak.We used data conducted between 2018(pre-pandemic)and 2021(post-pandemic)from three-year cross-sectional surveys on pest control and disinfection workers.Inhalation and dermal exposure concentrations were estimated using equations based on a biocidal product risk assessment model from the Korean National Institute of Environmental Research.The non-carcinogenic and carcinogenic risks of chemicals were calculated using the United States Environmental Protection Agency risk assessment model.We found that the annual work frequency(50^(th)percentile)of foggers using disinfectants increased the most among all the work types,from 140 uses/year to 176 uses/year after the COVID-19 outbreak.Moreover,all chemicals’non-carcinogenic and carcinogenic risks increased regardless of exposure routes.In the worst scenario(95^(th)percentile),the margin of exposure for citric acid,benzethonium chloride,benzyl-C12-16-alkyldimethyl chlorides,and sodium chlorite of inhalation exposure,and isopropyl alcohol and benzyl-C12-16-alkyldimethyl chlorides of dermal exposure were acceptable(>100)before the COVID-19outbreak but became unacceptable(<100)after the COVID-19 outbreak.Carcinogenic risks of dichlorvos from inhalation and dermal exposure were above acceptable levels(>10^(-6))before and after the COVID-19 outbreak but comparatively high after the COVID-19 outbreak.Additionally,significantly more workers experienced health symptoms after the COVID-19outbreak(p<0.05),with the most common being muscle lethargy(31%),skin/face stinging(28.7%),and breath shortness/neck pain(24.1%).

Parental Occupational Exposure and Risk of Acute Leukemia in Children: A Tunisian Population-Based Case-Control Study

Background: In recent decades, the incidence of children’s hematological malignancies has been increasing worldwide including Tunisia. Their severity is reflected in the importance of the medical, social and economic impact. This increase remains fully unexplained, and the involvement of genetic, environmental and occupational factors is strongly suspected. Materials and methods: Our study was a cross-sectional survey of the type case-control conducted in the University Hospital of Farhat Hached of Sousse during the period ranging between 1 July 2011 and 30 June 2012, and which included children with acute leukemia compared to children unharmed by neoplastic disease. Cases and controls were matched by age and gender. Our objective was to describe the socio-occupational characteristics of the parents of children with acute leukemia and to identify potential occupational factors implicated in the genesis of acute leukemia. Results: The number of acute leukemia cases in the Hematology Service and day hospital of the University Hospital of Farhat Hached during the study period was 66 cases divided into in 40 boys and 26 girls with a sex ratio of 1.53. Our cases and controls were matched by age and gender. The risk of incidence of leukemia in children from smoking fathers was higher (p = 0.02, OR = 2.24, IC = [1.11 - 4.52]). The risk of incidence of leukemia in children from alcoholic fathers was higher with p = 0.009, OR = 3.9;CI = [1.33 - 11.39]. After adjusting different variables, the difference persisted significantly with pa = 0.03 and ORa = 3.5, ICa = [1.09 - 11.6]. 25.7% of cases had a family history of blood disease and neoplasia, whereas no control presented that. The difference was statistically significant (p = 0.006, OR = 1.46, IC = [1.38 - 1.56]). The parental occupational exposures associated to the occurrence of acute leukemia in children were pesticides with a statistically significant difference (p = 0.03, OR = 2.94, IC = [1.06 - 8.13]). This difference persisted after adjustment with different variables pa = 0.01, ORa 3.75;ICa = [1.27 - 11.03]. This difference had become significant after adjustment with the different variables pa = 0.03, ORa = 2.67, ICa = [1.06 - 6.7]. Conclusion: Our results showed some support for a positive association between childhood acute leukemia risk and parental occupational exposure to pesticides and cement. Additionally, acute leukemia risk among children might be increased with parental alcohol consumption.

Occupational exposures to blood and body fluids (BBF): Assessment of knowledge, attitude and practice among health care workers in general hospitals in Lebanon

Healthcare workers (HCWs) who are employed in traditional health care workplaces face a serious danger that may threaten their life;it is their exposure to blood and body fluids (BBF). In Lebanon, the introduction of a hospital accreditation system has put a particular emphasis on staff safety, and on the evaluation of professional practice (EPP) programs. Methods: A cross-sectional survey was conducted amongst 277 HCWs working in 4 general hospitals in South Lebanon. Objective: 1) describe the prevalence and the risk factors for occupational exposure to BBF among HCWs;2) evaluate knowledge, attitude, and practices of HCW concerning blood-borne pathogens and adherence to universal safety precautions. Results: The mean age of the respondents was 32.14 years (SD = 10.33), 57.4% were females. 43.3% of HCWs expressed that they use gloves all the time for every activeity of care. 67.1% were aware that needles should not be recapped after use;registered nurses and nursing students were more aware than physicians and nursing assistants (nurse) in this subject. 30% of HCWs declared having had at least one occupational exposure to BBF;62.7% of all accidental exposure was reported to the department responsible for managing exposures. Percutaneous injuries were the most frequently reported. Vaccination coverage was 88.4% for hepatitis B, and 48.4% against influenza. The source patient was tested in 43.4% of reported BBF exposures. Accidental exposure to BBF was more frequent in older people (OR = 3.42;p = 0.03) and the more experienced. Subjects working in intensive care unit ward reported more exposure to BBF (OR = 3;p = 0.04). Participants incurring exposure to BBF resorted to different measures after the injury suggesting a lack of a uniform policy for post-exposure prophylaxis. Conclusion: Exposure to BBF represents an important and frequently preventable occupational hazard for HCWs in Lebanon that requires continuous EPP of HCWs, and a comprehensive approach for prevention and management.

Have the Private Benefits in Italian Firms Decreased？

The topic of the paper is the estimate of the benefit of control, according to the Barclay and Holderness method. The reference system of this research is Italy, given that the empirical evidence of the past which had underlined private benefits particularly high among Italian companies and the reference period is 1999-2007. The idea of this research is to demonstrate that, since the Legislative Decree No. 58 of February 24, 1998 （Consolidated Law on Finance, henceforth Consolidated Law）, which has significantly changed the protection of minority shareholders, in Italian, the intensity of private benefits has on average declined sharply. To this end, considering the results of the empirical researches on periods pre-1998 and at the turn of the Consolidated Law, the paper provides evidence that the improvement of minority shareholder protection already shown by these researches is further accentuated over the years, because of the effects that the new regulatory framework has produced. In fact, the basic assumption is that the important laws, as Consolidate Law, require several years to produce the desired results in full. This idea is supported by the findings of research that show an average percentage of private benefits dropped to five percent of the capital. Hence, the investigation is extended to the demonstration of comparability of this estimation with other estimations quoted in literature, verifying the statistical significance of the correlations between the measures estimated and the variables considered as determinants in much of the literature.

The New Method to Determine Ownership Stake to Exercise Control： An Empirical Analysis on Italian Companies

The idea of this work arises from the analysis of the researches developed in the literature on topic of ownership and control that are mostly based on threshold of ownership stake to determine control equal for all companies and, in most cases, not supported by theoretical arguments and empirical evidences. In fact, the aim of this paper is to build a new method of determining the threshold of ownership stake that allows the shareholder to exercise control. In particular, this survey uses all Italian listed companies as reference, and the minutes of the Ordinary and Extraordinary General Meetings of shareholders, in 2009-2012, as database. The topic can be enriched with further and future researches aiming to adapt this new method in a cross-country investigation and so to identify the different threshold for the countries, on the basis of the different national laws regarding the ownership stakes that affect the control.

The Empirical Research on Family Ownership and Earning Quality in China

Corporate governance takes an important role in affecting the quality of accounting information. Since the ownership structure determines the method and the level of the corporate governance and the right of control, supervision, and the benefit, it can decide the quality of information and affect the earning quality. This paper examines if the ownership concentration affects the earning quality in family-owned companies in China. Using the data of 298 publicly-traded corporations in China, this paper finds that the controlling shareholders are associated with low earning quality and that the separation of control rights and cash flow rights is negatively associated with the earning quality of family ownership.

Investigation on Occupational Disease Inductive Factors ofA utomobile Manufacturing Enterprises and Evaluation of Control Effect

The automobile manufacturing industry has a complex process and various processes,so it has buried many occupational-disease-related safety hazards and is the industry of high incidence of occupational diseases.Accurate identification and effective control of hazards in automobile manufacturing are an important guarantee for effective prevention of occupational disease.In order to investigate the types and status of occupational-disease-inductive factors of a car manufacturer,and evaluate the control effect,the general situation of the enterprise is collected from August 2016 to October 2017.And then the targeted treatment,including management measures,engineering protection and personal protection.The occupational-disease-inductive factors that are mainly produced in automobile manufacturing are productive dust,chemical substance and physical factors.

我国金属矿山采—装—运过程中粉尘职业危害防控技术进展与展望

在高温、噪声、粉尘、有毒有害气体等金属矿山主要的职业病危害因素中,由粉尘引起的尘肺病在职业病病例中占比最大,为不断推进粉尘职业健康防护研究,保障金属矿山人员、生产与环境安全,概述了金属矿山尘源与扩散理论以及粉尘职业健康职业防护研究现状,基于安全工程系统性原理,分别从源头治理、过程控制以及个体防护3个维度分析了我国金属矿山采—装—运过程中粉尘职业危害防控技术进展。在此基础上,剖析了目前存在的不足,并展望了未来发展方向。认为现阶段存在的不足在于金属矿山粉尘控制理论体系尚未成熟,金属矿山粉尘智能化监测预警技术研究有待加强,不同粉尘治理技术交叉性、协同性研究与应用较薄弱,以及以现场人员舒适性为导向的个体呼吸防护设备研发需要进一步加强,未来可从完善金属矿山粉尘控制理论体系,开发适用于金属矿山产尘特性的智能化防尘监测预警技术,注重粉尘治理技术的交叉性、协同性研究与应用,以及研发更符合人体工程学的个体防护设备等方面进一步开展工作。

我国非煤矿山职业健康防控技术研究现状、挑战及展望

矿业是现代工业的粮食,在国民经济发展中发挥着不可替代的作用,但采矿过程伴随众多职业危害因素,给工人职业健康与安全造成极大影响。采用文献查阅、现场调研、访谈交流等方法,并基于团队已有研究积累,对新中国成立以来我国非煤矿山职业健康防控技术研究现状进行了综述,并分析了当前面临的主要挑战。结果表明:我国非煤矿山职业危害主要涉及粉尘、噪声、高温等7类因素,存在“点多、面广、源强”的显著特点,防治难度大;在7类职业危害因素中,粉尘危害最为突出,且爆破粉尘、强疏水性微细粉尘、井下喷浆粉尘与高寒、低气压、超大规模开采粉尘防治是目前面临的主要挑战。在上述分析的基础上,指出我国非煤矿山职业健康防护技术未来发展方向为健全非煤矿山职业危害监管体系、强化职业危害控制科技创新与实践、推行职业危害防控专业化社会服务、坚持职业危害个性化与综合防治、探索职业危害智能化防治技术,逐步形成以监管落实为驱动、科技创新为抓手、社会服务为目标的科学发展模式,切实提高非煤矿山职业危害因素防治效果,保障工人职业健康与安全。

新《公司法》弘扬企业家精神的制度回应

新《公司法》增加“弘扬企业家精神”的立法目的表明了公司法需要更好地发挥鼓励投资创业、保护企业家权益以及推进创新精神的重要制度功能。在公司法语境下,企业家最接近于控股股东或者实际控制人。公司法语境下的“企业家精神”可以从个体、组织和社会三个层面来理解和把握。新《公司法》在立法目的、准入制度、治理机制以及问责机制等方面体现出“弘扬企业家精神”的重要创新。公司法对于控制权的妥当规制是“弘扬企业家精神”的关键制度,新《公司法》构建了控制权识别规则、控制权行使规则和控制权责任规则。下一步需要提升控制权识别规则的可操作性,完善控制权取得方式和权利内容的规定,并以合规制度和容错机制为企业家铸造“安全港”。

控股股东股权质押、企业金融化与企业创新

以2012—2020年我国A股非金融上市企业为样本,考察控股股东股权质押、企业金融化与企业创新之间的关系。研究结果表明:控股股东股权质押抑制企业创新,并且在控股股东持股比例低的企业和市场化进程低的地区更为显著;控股股东股权质押导致企业金融化动机增强,而企业金融化挤出企业创新,表现出更强的投机套利动机;控股股东股权质押存在金融化和融资约束两条渠道抑制企业创新,一方面通过促进企业金融化挤出企业创新,另一方面通过加剧融资约束抑制企业创新。

高管纵向关联与企业价值——“隧道效应”还是“监督效应”

高管纵向关联是加剧了大股东对小股东的利益侵占还是增强了对管理层的监督,是公司治理方向的一个重要问题。以2004—2019年上市公司为样本,手工整理了关联高管的详细信息。研究发现,高管纵向关联与企业价值呈显著负相关关系。机制检验结果表明,高管纵向关联通过加剧大股东掏空发挥了“隧道效应”。进一步研究显示,高管纵向关联与企业价值的负相关性在非国有企业、信息披露程度低的企业以及所处地区法律环境差的企业中更为明显;并且,存在高管直接纵向关联以及董事长纵向关联的公司往往表现出更低的企业价值。文章丰富了纵向关联高管的研究成果,对于提升上市公司治理水平具有重要实践意义。

控制权争夺动因和社会资本参与影响研究——以奥马电器的控制权争夺为例

控制权是公司治理机制及利益相关者实现利益最大化的核心因素,因此,控制权争夺成为各利益相关者博弈的主题。在控制权争夺的过程中,公司大股东和公司创始团队的社会资本运作能起到不可忽视的作用。基于控制权争夺动因和社会资本影响的视角,通过对奥马电器控制权争夺的案例研究,以社会资本理论、公司治理理论、委托代理理论为基础构建理论框架,探究奥马电器被控股的成因,分析奥马电器控制权争夺的历程和公司价值的发展趋势,重点剖析社会资本在奥马电器的控制权争夺过程中产生的影响。研究发现:社会资本对企业发展具有促进利益共享、降低交易成本、高度集中控制权等益处,是企业获得控制权不能忽视的关键因素。同时对于控制权争夺过程中企业价值如何更好发展提出了可行性建议和启示。

非控股大股东退出威胁与多元化经营:抑制还是促进?

该文基于2007—2021年沪深两市A股上市公司的样本,检验了非控股大股东退出威胁对企业多元化经营的影响。研究发现:非控股大股东退出威胁发挥治理效应约束企业多元化扩张,主要作用机制是减少管理层在职消费和抑制控股股东掏空行为;异质性检验发现,当公司管理层持股、存在实际控制人、信息环境质量高及处于竞争性行业时,退出威胁对多元化的抑制作用更显著;拓展性检验发现非控股大股东退出威胁降低了企业非相关和相关多元化程度,且对非相关多元化的减少更显著,并提升了多元化经营价值。

债务融资对终极股东行为影响的实证分析——基于内部控制质量的门限效应和调节效应

集中股权结构的上市公司中,终极股东对其他中小股东有一定的利益侵害动机,债务融资作为公司治理的一个重要环节,研究其对终极股东行为的影响是一个值得探究的问题。以我国523家非金融类上市公司2007-2022年的面板数据为样本,考虑内部控制质量的门限效应与调节效应,实证检验了债务融资对终极股东掏空行为的促进或抑制效应。研究发现:(1)银行债务、商业信用和长期债务对终极股东掏空行为具有显著的促进效应;当内部控制质量分别大于门限值860.160、873.700、873.700时,此类效应减弱;(2)短期债务对终极股东掏空行为具有显著的抑制效应;当内部控制质量大于门限值873.700时,此效应得到加强;(3)商业信用、长期债务、银行债务对于国有企业中终极股东掏空行为的促进效应,受到内部控制质量的反向调节。研究结论为上市公司制定健全的内部治理环境策略以及为债权人制定合理的借贷策略从而促进上市公司高质量发展提供了参考依据。

人工肝支持系统相关血源性病原体感染预防与控制专家共识

人工肝支持系统(简称人工肝)是目前治疗肝衰竭的重要手段,因部分患者为血源性病原体携带者或感染者,在治疗过程中患者及医护人员存在血源性病原体感染的风险。我国人工肝相关血源性病原体感染防控策略相关研究处于起步阶段,缺乏规范性、一致性认识。为此,中华护理学会传染病护理专业委员会、湖南省护理学会传染病护理专业委员会组织国内专家,基于国家医院感染防控的相关法律、法规,参考国内外人工肝治疗及血源性病原体感染防控现状,结合我国临床诊疗指南及最佳临床实践证据要求,经反复讨论、修改形成本共识。共识通过对人工肝治疗各环节的风险评估,制定规避风险的安全操作流程,主要包括人工肝室设置、制度管理要求、治疗过程基于患者及医护人员防控细则、暴露处理流程等25项专家共识内容,为人工肝相关血源性病原体感染预防与控制提供临床指导,规避血源性病原体职业暴露及院内感染风险,保障患者及医护人员安全。