There are two opposing views over the necessity of privatization for SOEs. While some believe that privatization is the only solution to SOE inefficiency, others contend that privatization will lead to serious loss of...There are two opposing views over the necessity of privatization for SOEs. While some believe that privatization is the only solution to SOE inefficiency, others contend that privatization will lead to serious loss of state assets without resolving the problem. This paper examined how performance evaluation system contributed to the innovation and profitability of central SOEs after the implementation of the revised Interim Measures for Assessment of the Operational Performance of Persons in Charge of Central Enterprises in 2009. Using this revision as a natural experiment, this paper conducted a difference-indifference analysis and discovered a significant improvement in the innovation of central SOEs after the implementation of the new policy as compared with private firms not affected by this system. Moreover, the revised performance evaluation system significantly improved the marginal contribution of innovation to corporate value. The above test result indicates that SOEs may become more efficient solely by altering executive incentives without privatization. In this sense, privatization may not be the only solution to SOE inefficiency. This paper offers theoretical insights on the controversies regarding SOE privatization and helps enrich relevant literature on corporate incentives and innovation.展开更多
With the implementation of the CPC＇s eight-point regulation as a natural experiment platform, this paper seeks to unravel the causality between rent-seeking and firm performance for SOEs and private firms respectivel...With the implementation of the CPC＇s eight-point regulation as a natural experiment platform, this paper seeks to unravel the causality between rent-seeking and firm performance for SOEs and private firms respectively. Our empirical research has found that after the release of the ＂eight-point regulation ＂, investors responded negatively to private frms and positively to SOEs. Such market response is more significant for firms with a high degree of rent-seeking. Further research has found that rent-seeking helps both SOEs and private firms receive more subsidies from the government. While government subsidy from rent-seeking is conducive to the performance of private firms, it is not the case for SOEs. This implies that rent-seeking activities serve as a ＂lubricant＇for private firms but have a ＂stumbling block＂ effect for SOEs.展开更多
International joint ventures （IJVs） have increasingly their role in business world and also in research field of international business. There have been a lot of studies related to determinant factors of IJV perform...International joint ventures （IJVs） have increasingly their role in business world and also in research field of international business. There have been a lot of studies related to determinant factors of IJV performance. However, there are very few studies focusing on the measurement of I Jr performance. Especially, researchers have ignored how foreign parent firms really choose their measures in the evaluation of their IJV performance. This research investigates determinant factors of performance measures of 1JVs. Determinant factors of IJV performance measures include motives for establishment, establishment mode, location of IJVs, distribution of ownership in IJVs, cultural background of parent firms, and trust between partners, IJV life stages, parent firms＇ international experience, and relatedness of the IJVs to their parents. Performance measures are divided into financial measures and non-financial measures. The paper shows how different determinant factors are expected to lead foreign parent firms preferring one kind of measure over the other.展开更多
The objective of this research was to develop the causal relationship model of firm characteristics factors and good corporate governance affecting the performance of the companies listed on the Stock Exchange of Thai...The objective of this research was to develop the causal relationship model of firm characteristics factors and good corporate governance affecting the performance of the companies listed on the Stock Exchange of Thailand. The developed model consisted of three latent variables and eight observable variables. The sample of this study was 338 companies listed on the Stock Exchange of Thailand. Data are from annual reports （form-56）, annual financial statements and notes to the fmancial statements during the years 2010-2013. The statistics used in this study were descriptive statistics. The causal model was analyzed through a path analysis with LISREL 8.80 Student Edition. The results showed as follows. By testing the consistence of the causal model of finn characteristics （CHA）, the assumed model was consistent with empirical data. Based on the statistical test, the Chi-Square was 22.08. The statistical probability （p） was 0.077, the degree of freedom （dO was to 0, 2/2 was 1.58, RMSEA was 0.041, SRMR was 0.037, GFI was 0.98, CFI was 0.99, AGFI was 0.96. The latent variable of firm characteristics （CHA） had directly negative impact on performance （PAL） with a statistical significance level of 0.01. A path coefficient was 0.18. However, CHA variable did not indirectly influence performance （PAL） and it had directly negative impact on good corporate governance （GGN） with a path coefficient of 0.02 without statistical significance level. The latent variable of good corporate governance （GGN） had directly positive impact on the performance （PAL） with a statistical significance level of 0.05, with a path coefficient of 0.18.展开更多
Performance management has become a competitive advantage of enterprises to cultivate core competitiveness of strategic initiatives, but how to act performance management out scientifically has been difficult. An uncl...Performance management has become a competitive advantage of enterprises to cultivate core competitiveness of strategic initiatives, but how to act performance management out scientifically has been difficult. An unclear understanding of the various issues often results in improper handling counterproductive. Thus, we should analyze human resource performance management problems and their causes, and only on this basis can we establish and implement effective hunlan resource management system dynamic performance during the difficulties and the main factors that should be considered to elaborate.展开更多
Employee competency is one of the important factors contributing to corporate performance. It is increasingly important and became a major focus on human resources department. Competency within the firms can be either...Employee competency is one of the important factors contributing to corporate performance. It is increasingly important and became a major focus on human resources department. Competency within the firms can be either buy or build. Current practice, multinational companies prefer to buy in competency through either buy talents from competitors or merge and/or acquisition with the aim of getting required competency in place. Buy in option might be quick option however SME（s） do not afford to follow this option therefore building competency internally is a favorable choice of option. This paper shows the results of the surveys to 770 SME（s） across three business types： manufacturing, trading and services. The results showed that SME（s） give priority and importance to planning, cultural awareness and decision-making/problem-solving competencies while stakeholder management and leadership competencies are least importance展开更多
Among the top 1,000 Taiwan Residents enterprises in China listed by the database of Commercial Times in 2012, 763 of them witnessed revenue growth and 864 of them were in profits. This paper seeks to identify the reas...Among the top 1,000 Taiwan Residents enterprises in China listed by the database of Commercial Times in 2012, 763 of them witnessed revenue growth and 864 of them were in profits. This paper seeks to identify the reasons behind such a stellar performance by conducting an empirical study on the top 500 Taiwan Residents businesses in the database. The results suggest that： （1） the larger the investment into China, the better the business performances; （2） the higher the ownership by Taiwan Residents firms for the outward investments to China, the better the business performances; （3） compared to investments in IT, technology and machinery, the outward investments from Taiwan to China achieve better returns in commodity, energy, and mining; （4） compared to investments in Eastern, Central, and Western China, the investments in Chinese municipalities generate better returns.展开更多
In this paper, we analyzed the status of human resource management practices in western China state-owned and state holding enterprises azld private enterprises, and found that there are differences in the nature of t...In this paper, we analyzed the status of human resource management practices in western China state-owned and state holding enterprises azld private enterprises, and found that there are differences in the nature of the business combination of different patterns of human resource management practices.展开更多
基金supported by the National Natural Science Foundation of China(Grant No.:71172205,71372126,71502161,71572133 and 71672134)the Humanities and Social Science Project of the Ministry of Education(Grant No.:15YJA630057)
文摘There are two opposing views over the necessity of privatization for SOEs. While some believe that privatization is the only solution to SOE inefficiency, others contend that privatization will lead to serious loss of state assets without resolving the problem. This paper examined how performance evaluation system contributed to the innovation and profitability of central SOEs after the implementation of the revised Interim Measures for Assessment of the Operational Performance of Persons in Charge of Central Enterprises in 2009. Using this revision as a natural experiment, this paper conducted a difference-indifference analysis and discovered a significant improvement in the innovation of central SOEs after the implementation of the new policy as compared with private firms not affected by this system. Moreover, the revised performance evaluation system significantly improved the marginal contribution of innovation to corporate value. The above test result indicates that SOEs may become more efficient solely by altering executive incentives without privatization. In this sense, privatization may not be the only solution to SOE inefficiency. This paper offers theoretical insights on the controversies regarding SOE privatization and helps enrich relevant literature on corporate incentives and innovation.
基金"A Study on the Rent-seeking,Political Capital Burst and Economic Consequences of Private Enterprises,Based on the Perspective of Officials Arrest"(Grant No.71702178),National Natural Sciences Foundation"Anti-Corruption,Reconstruction of the Relationship Between Government and Enterprises Social Capital Investment:An Integrated Research Based on Social Relation Network Theory"(Grant No.17YJC790005),MOE Project of Humanities and Social Sciences Foundation
文摘With the implementation of the CPC＇s eight-point regulation as a natural experiment platform, this paper seeks to unravel the causality between rent-seeking and firm performance for SOEs and private firms respectively. Our empirical research has found that after the release of the ＂eight-point regulation ＂, investors responded negatively to private frms and positively to SOEs. Such market response is more significant for firms with a high degree of rent-seeking. Further research has found that rent-seeking helps both SOEs and private firms receive more subsidies from the government. While government subsidy from rent-seeking is conducive to the performance of private firms, it is not the case for SOEs. This implies that rent-seeking activities serve as a ＂lubricant＇for private firms but have a ＂stumbling block＂ effect for SOEs.
文摘International joint ventures （IJVs） have increasingly their role in business world and also in research field of international business. There have been a lot of studies related to determinant factors of IJV performance. However, there are very few studies focusing on the measurement of I Jr performance. Especially, researchers have ignored how foreign parent firms really choose their measures in the evaluation of their IJV performance. This research investigates determinant factors of performance measures of 1JVs. Determinant factors of IJV performance measures include motives for establishment, establishment mode, location of IJVs, distribution of ownership in IJVs, cultural background of parent firms, and trust between partners, IJV life stages, parent firms＇ international experience, and relatedness of the IJVs to their parents. Performance measures are divided into financial measures and non-financial measures. The paper shows how different determinant factors are expected to lead foreign parent firms preferring one kind of measure over the other.
文摘The objective of this research was to develop the causal relationship model of firm characteristics factors and good corporate governance affecting the performance of the companies listed on the Stock Exchange of Thailand. The developed model consisted of three latent variables and eight observable variables. The sample of this study was 338 companies listed on the Stock Exchange of Thailand. Data are from annual reports （form-56）, annual financial statements and notes to the fmancial statements during the years 2010-2013. The statistics used in this study were descriptive statistics. The causal model was analyzed through a path analysis with LISREL 8.80 Student Edition. The results showed as follows. By testing the consistence of the causal model of finn characteristics （CHA）, the assumed model was consistent with empirical data. Based on the statistical test, the Chi-Square was 22.08. The statistical probability （p） was 0.077, the degree of freedom （dO was to 0, 2/2 was 1.58, RMSEA was 0.041, SRMR was 0.037, GFI was 0.98, CFI was 0.99, AGFI was 0.96. The latent variable of firm characteristics （CHA） had directly negative impact on performance （PAL） with a statistical significance level of 0.01. A path coefficient was 0.18. However, CHA variable did not indirectly influence performance （PAL） and it had directly negative impact on good corporate governance （GGN） with a path coefficient of 0.02 without statistical significance level. The latent variable of good corporate governance （GGN） had directly positive impact on the performance （PAL） with a statistical significance level of 0.05, with a path coefficient of 0.18.
文摘Performance management has become a competitive advantage of enterprises to cultivate core competitiveness of strategic initiatives, but how to act performance management out scientifically has been difficult. An unclear understanding of the various issues often results in improper handling counterproductive. Thus, we should analyze human resource performance management problems and their causes, and only on this basis can we establish and implement effective hunlan resource management system dynamic performance during the difficulties and the main factors that should be considered to elaborate.
文摘Employee competency is one of the important factors contributing to corporate performance. It is increasingly important and became a major focus on human resources department. Competency within the firms can be either buy or build. Current practice, multinational companies prefer to buy in competency through either buy talents from competitors or merge and/or acquisition with the aim of getting required competency in place. Buy in option might be quick option however SME（s） do not afford to follow this option therefore building competency internally is a favorable choice of option. This paper shows the results of the surveys to 770 SME（s） across three business types： manufacturing, trading and services. The results showed that SME（s） give priority and importance to planning, cultural awareness and decision-making/problem-solving competencies while stakeholder management and leadership competencies are least importance
文摘Among the top 1,000 Taiwan Residents enterprises in China listed by the database of Commercial Times in 2012, 763 of them witnessed revenue growth and 864 of them were in profits. This paper seeks to identify the reasons behind such a stellar performance by conducting an empirical study on the top 500 Taiwan Residents businesses in the database. The results suggest that： （1） the larger the investment into China, the better the business performances; （2） the higher the ownership by Taiwan Residents firms for the outward investments to China, the better the business performances; （3） compared to investments in IT, technology and machinery, the outward investments from Taiwan to China achieve better returns in commodity, energy, and mining; （4） compared to investments in Eastern, Central, and Western China, the investments in Chinese municipalities generate better returns.
文摘In this paper, we analyzed the status of human resource management practices in western China state-owned and state holding enterprises azld private enterprises, and found that there are differences in the nature of the business combination of different patterns of human resource management practices.
