Antecedents and performance consequences of governance structures in R&D alliances

Traditionally governance structures are classified into ＂hierarchy or market＂ or ＂equity or non-equity.＂ However,such classifications may not be effective in characterizing all governance structures of research and development（R D） alliances.Therefore,the first objective of this study is to investigate why there exist different organizational governance structures in managing R D alliances;the second objective of this study is to give strategic advice in choosing appropriate forms with respect to various characteristics of R D alliances.Through the theoretical lens that integrate both transaction cost economics（TCE） and the resource-based view（RBV）,a model that focuses on six major factors is developed for determining governance structure choices,namely,technological uncertainty,cultural difference,asset specificity,technology complementarity,appropriability of the individual firm＇s know-how,and trust.An R D alliance with higher technological uncertainty,larger cultural differences,and greater concerns for protecting an individual＇s know-how is more likely to adopt non-integrated alliances as the governing structure.An R D alliance with a higher degree of asset-specificity,greater technology complementarity and greater trust among partnering organizations is more likely to adopt integrated alliances as the governing structure;an R D alliance in the face of lower technological uncertainty will tend to adopt integrated alliances.The more aligned the choice of the governance structure with its determinants,the better the R D alliance will perform,and vice versa.

吉林省人民政府办公厅转发省环保局等部门关于全省清理整顿不法排污企业保障群众健康环保行动完成情况报告的通知

各市州、县(市)人民政府,省政府有关部门:省环保局、省计委、省经贸委、省监察厅、省工商局、省司法厅和省安全生产监管局《关于全省清理整顿不法排污企业保障群众健康环保行动完成情况的报告》已经省政府同意,现转发给你们,请认真贯彻执行。各地、各有关部门要高度重视此项工作,强化辖区的环境责任意识,继续加强组织领导,切实解决好报告中提出的问题。各地对已经取缔关闭的不法排污企业要向社会发布通告,工商部门要吊销其营业执照;对目前仍然超标排污的企业,要予以关停。

Analyzing on the Characteristics of Several Typical Financial Behavior of Loss Listed Companies in China

In combination with socio-economic development of China＇s current status, this article analyzes the characteristics of several typical financial behavior of loss listed companies in China. Among them, the debt financing behavior have a high level, a single means, a short-term structured and other characteristics, the corporate governance behavior have a goal of collaborative, several forms, and a complex environment, the earnings management behavior have diverse motives, many types of means, bigger range and other features, the asset restructuring behavior have a passive subject, methods of differentiation, performance-oriented features such as myopia.

Review on the Study of the Allocation of Corporate Control in Enterprise Theory

With the establishment of a modem corporate system, the separation of ownership and management appears in the company. The rational allocation of corporate control between different behavioral agents has attracted more and more attention. This paper points out that scholars have studied the allocation of corporate control from the angles of the agency cost theory, property rights theory, corporate finance theory, and the theory of corporate governance, which has great value. However, the existing theories also have some flaws on the allocation of corporate control. First, people still have different understandings and views over the meaning of corporate control. Secondly, the existing research theoretically only observes and studies an arrangement of sheer level control, the allocation between final control and real control. This paper argues to build the two-tier allocation of corporate control： The first tier relation is between ultimate control rights and actual control rights, the second tier relation is between indirect control rights and direct control rights which are in actual control rights. This study can explain the resource allocation effects of corporate control, promote the development and improvement of the theory of the firm.

Corporate governance and financing decisions by Saudi companies

This paper aims to contribute to the corporate governance literature in emerging economies by examining the effect of some corporate governance mechanisms on financing decisions in Saudi Arabian listed companies. A multiple regression model is used to examine the association between financing decisions and corporate governance mechanisms for a sample of 37 listed Saudi companies. In particular, we examine the effect of board size, ownership concentration and corporate governance reporting on the debt-to-equity ratio. Corporate governance reporting is measured by the content analysis approach. After controlling for companies＇ profitability and their growth opportunities, we found that both board size and ownership concentration are positively associated with debt-to-equity ratio. We limit our analysis to a small sample of firms that use the internet to communicate corporate governance information between October 2005 and January 2006. The findings suggest that managers are likely to choose higher financial leverage when they have stronger corporate governance （large number of directors on the board and higher ownership concentration）. However, we did not find any statistical association between corporate governance disclosure and debt-to-equity ratio. This suggests that firm＇s asymmetric information is not an important driver of the financing decision of Saudi Arabian companies. This might be due to the nature of the Saudi business environment. We strongly believe that this paper provides a novel contribution to the existing literature as we are the first to examine this issue in Saudi Arabia.

The Global Science of Integrated Water Governance

Abstract： This study discusses the benefits of establishing a broader discipline of water science, based on the organizing mechanism of PES-W （payments for ecosystem services on the watershed scale）. PES-W is derived from an extension of governance analyses of 163 watershed-based PES （payments for ecosystem services） programs, and from the integrative decision mechanism of IPES （integrated payments for ecosystem services） to generalize the PES approach. PES-W reflects three interrelated perspectives fundamental to the global science of integrated water governance： （1） the ecological and economic perspective to integrate human incentives for integrated water resources governance; （2） the sociological and ecological perspective to form partnerships for meta-monitoring and recta-funding for integrated watershed governance; and （3） the scientific and sociological perspective to develop organizing botmdaries based on technology, lifestyle, entrepreneurship and organizing infrastructure for integrated aquatic ecosystem governance. This study is intended to communicate with the international scientific communities for establishing an advanced, academic, and practical multidisciplinary field of the global science of integrated water governance as a critical condition for sustainable development in human societies.

The Association Between Corporate Governance Mechanisms and Stock Investment Risk： Empirical Evidence From Thailand

This study examines the association between corporate governance mechanisms （i.e., internal corporate governance, ownership structure, and external corporate govemance） and stock investment risk （i.e., idiosyncratic risk, systematic risk, and total risk of non-financial listed firms in Thailand in 2007）. The multiple regression analysis is employed to test the hypotheses, and the results suggest that firms with higher market power have lower systematic risk. It implies that firms with higher market power can reduce the unavoidable risk when compared with firms that have lower market power. Firms with more media coverage will have higher systematic risk, which indicates that firms which publish more news will have higher unavoidable risk. This research may be the first to provide the evidence of the association between corporate govemance mechanisms and stock investment risk. Interestingly still, this study has utilized the data of Thailand, which is an emerging market economy with a capital market structure different from those of the developed market economies, and the results of this study are anticipated to be applicable to other similar studies in other emerging market economies.

International Private Sector Participation in Water Governance in China under CEWP in the Future

Water utility is considered as unique among all the natural monopolies. Overseas private sector involvement in water utility operation has been always being a sensitive topic in China. Overseas investment and engagement has happened progressively in spite of implicit and explicit barriers within China. Reviewing past foreign investments in water supply and sanitation in China, experiences and lessons co-existed, based on the combined analysis both concerning the past practices and current new possibilities, the future cooperation on international private sector participation can be looked forward to.

Interdependency Between Sustainable Development and Economic Growth （Investment Attraction）： The Role of City＇s Governance, Branding and Monitoring Strategies

Sustainable development is now considered the only option for collective happiness. This paper aims to highlight the interdependent role of city governance, its quality of life and corporate sustainable development process. A place that is good to live in, means that it is good to inhabit, work at, study invest, and visit. Therefore, public policies makers should think about the role of city administration in order to provide a good environment for entrepreneurship and corporate sustainable development. Territories, regions, cities and firms, must know their capabilities and competencies and define a common vision of the future, taking into account the present and the context in which they operate. Being defined as the strategy based on the principles of collective efficiency and market orientation, the successful implementation of activities requires ＂an operational framework for monitoring, supported by mechanisms of interdepartmental cooperation, and performance measurement procedures based on indicators and monitoring progress＂ （ENDS-2015, 2007）. This paper discusses the implementation of place marketing strategies and adoption, by the city governance, of the best practices of business management such as： balanced score card methodologies, leading to the enhancing of the wellness produced by cities; promoting productivity, innovation and rational use of resources; and developing competences and expertise in order to strength their competitive advantages and achieve the desired sustainable development.

Prognositic factors and clinicopathologic characteristics of small gastrointestinal stromal tumor of the stomach:a retrospective analysis of 31 cases in one center

Objective： To analyze the clinicopathologic characteristics and prognostic factors of small gastrointestinal stromal tumor （GIST） of the stomach. Methods： A total of 31 small gastric GIST patients, including 10 males and 21 females, with a median age of 58 years （37- 81 years）, who underwent surgery at any time from 1999 to 2012 were included in this study. The clinical records of the patients were analyzed retrospectively. Results： Abdominal discomfort and pain （10 cases, 32.3%, respectively） were the two most common complaints among the patients. All patients received surgery, 11 received gastric wedge resection, 11 received subtotal gastrectom）5 5 received laparoscopic gastric wedge resection, and 4 received endoscopic submucosal dissection. No severe adverse complication was observed. A total of 29 patients （93.5%） were followed up. During the follow-up, 2 patients were found to exhibit tumor recurrence, and 1 patient had liver metastases. One patient died of tumor progressionwhile another died of another malignant tumor. Median progression free survival （PFS） time was 120.3 months, and median overall survival （OS） time was 130.4 months. Conclusion： Small gastric GIST has better prognosis. Surgery is the best choice for therapy. Micro-invasive procedures are safe and effective for elective patients. Tumor necrosis, tumor bleeding, and muscle invasion are potential prognostic factors of small gastric GIST.

Analysis of the Effect of Corporate Governance Attributes and Disclosure Level on Firms＇ Costs of Financing

The purpose of this article is to analyze the impact of corporate governance and disclosure policy on corporate financial performance by examining the combined effect of board characteristics and disclosure level on financing costs. The empirical analysis, conducted on a sample of 192 Canadian companies, generally shows the importance of board characteristics in determining the level of disclosure and firms＇ costs of financing. In particular, the results found indicate that boards whose characteristics meet the governance requirements that are associated with greater transparency in disclosure on governance attributes reduce the costs of financing of their companies by debt as well as by equity capital.

Local-Scale Governance： A Review of the Zambian Approach to Fisheries Management

Despite Zambia＇s recent policies for optimizing sustainable management of fisheries, their success has been modest in practice. Artisanal and industrial fleets have led to decline in fish catches in the presence of currently prescribed management possibilities. Among other factors, excessive fishing and unsustainable fishing methods attributed to common property and free access to the resources are key. The country adopted co-management approach to fisheries management in the 1990s with a view to improve the fisheries stocks through community enforcement of fishery management regulations. Neither the success of co-management has been easy to measure nor its results appreciated. In view of overfishing, it is required to continue providing a range of empirical evidence of area-specific co-management interventions as basis for designing realistic and innovative solutions for the nation. This implies that new policies and institutions need to be developed by research to understand fisheries systems and better promote sustainable trajectories. The following review recommendation to central government is a coherent approach that uses and crystallizes the multiple interests and skills of co-management stakeholders. Most stakeholder groups have been involved in an ad hoc fashion through workshops, public meetings and consultative processes mainly organized by Department of Fisheries. Stakeholders should be involved from the design of the process to each step in the process, including the ongoing monitoring and evaluation. A form of memorandum of understanding is suggested. This will formally set out a process that acknowledges each stakeholder＇s interests and provide forums to facilitate discussion, consultation and monitoring of management activities.

An Empirical Study on the Relationship Between Growth and Earnings Management of Chinese Listed Corporation

This paper explores whether investors can assess the company＇s growth and risk management according to the company＇s financial statements in the capital market or not. The company＇s growth will affect the company＇s earnings manipulation for earnings management which is often encountered in corporate governance problems. This research constructs the research hypothesis on this basis of the summary and analysis of the relevant theory, using the data from Chinese listed corporation during the period of 2009-2011, and designs the empirical model to prove it. The study found that for Chinese listed corporation, the higher the company＇s growth and business risk, the higher the degree of earnings management. The degree of earnings management will be high when the growth of the company and the business risk exist at the same time.

Corporate Governance Principles Introduced by the Capital Markets Board of Turkey and an Investigation About Internal Audit in Companies Listed on Borsa Istanbul

Today＇s global trends need to be clearly explained to enable the efficient functioning of capital markets for the purpose of the country＇s economic development. Promotion of a strong internal audit function plays a key role in assisting the board to discharge its governance responsibilities. The internal audit needs to exert its important function for refining corporate governance procedures, improving internal control, and strengthening risk management. The rules concerning internal auditing issued by the Banking Regulation and Supervision Agency, Capital Markets Board of Turkey, and other public societies have contributed to the development of internal auditing in Turkey. The Capital Markets Board of Turkey published “Communiqu6 Serial： IV, Noi 56 on Identification and Application of Corporate Governance Principles” （Official Gazette dated December 30, 2011, No. 28158）. In Part 4.2.4 of these principles, it was stated that “The board of directors supervise the efficiency of risk management and internal control systems at least once a year. Information about existence, operation, and efficiency of internal control and internal audit is given by annual report”. The objective of this study is to analyze the structure of internal audit function-related information on the annual reports of companies that are included in the Borsa Istanbul. Annual reports of 192 manufacturing companies listed on Borsa Istanbul were examined by content analysis method.

Brexit Implications on Capital Market and International Financial Governance

This paper assumes as a focal point the concept that the ＂post-Brexit＂ may represent a change of era for European and global financial service and particularly for capital market sector. The change of era produces new ＂global systemic interrelation＂ in which financial globalization, governance and regulation will give place to new, largely unknown complexities. In general, the different interests and immediate priorities of euro and non-euro countries, coupled with a need for prompt and, at times, politically sensitive action, have had the result of a greater fragmentation or a differentiated integration in EU governance in the financial sector. On this assumption, we may say that the post-Brexit scenario is in some way preceded by a series of ＂fractures＂ in European governance. The direct effect of the post-Brexit era is that UK regulated financial entities will still need ＂passporting＂ across the EU single market： UK is going to vest the role of third party country, which will require an ＂equivalence regime＂ similar to the ＂substituted compliance＂ used in the same direction by US regulators. At the same time, while an equivalence regime may work in principle to deal cross-border issues at the global level, in the long term, it may be an instrument for a ＂battle of ideas＂ in the new political arena of global financial governance.

Media Governance, state Subsidies and Impacts on Regional Press and Radio

Similarly to what happens in other European countries, Portugal has been feeling the need to rethink its public state subsidy scheme to media. In this context, this paper presents an analysis of the impacts arising from the provision of such subventions in local and regional media, questioning if the state support system is adequate to the business reality and contributing to improving it. Hence, this work reflects regional realities in the national context, being also, in a greater scale, a mirror of the models prevalent in Europe, a continent marked by significant state intervention. This study also establishes a diverse set of information, including an intensive collection of empirical data on the impact of direct incentives on the companies＇ performance, product quality, market competitiveness and pluralism of voices in the regional and local information market, based on a case study on the Portuguese state support system and the analysis of 21 local and regional media companies. In fact, the results of this research point out that, although these incentives are considered by the affected media companies as very important, having positive impacts regarding the improvement of journalistic products （such as online presence on the Intemet）, maintaining human resources and promoting the pluralism of voices; they do not seem to be adequately efficient to provide a sustainable growth in local and regional media.

Study on the Current Implementation Situation of the Independent Director System in China＇s Listed Companies

The independent director system, as an effective measure to improve the corporation governance structure of China＇ s listed companies, is focused by more and more people at the capital market. In this paper, the proportion of independent directors in the board of directors, and the actual condition, compensation, and duties performing of independent directors are analyzed by taking A-share listed companies in Shanghai Stock Exchange as an example, so that the current implementation situation of the independent director system in China＇ s listed companies is analyzed deeply through the empirical method. Finally, suggestions for its imorovement are orooosed.

The Research and Analysis to the Financing Dilemma and Countermeasures of China＇s Medium and Small Sized High-tech Enterprises

The Financing problem of Medium and small Sized High-tech Enterprises is the key point to enterprises＇ survival and development. Firstly it is pointed out that the difficulty in financing is due to without enough emphasis on Medium and Small Sized High-tech Enterprises, without sound targeted laws and regulations, the imperfect credit guarantee system, and corporate governance structure problem of the enterprise Then, according to the problems existing in the financing of China＇s Medium and Small Sized High-tech Enterprises, the assay put forward several countermeasures which have referential value.

Research on Chinese Dream Thought integrated into Higher Vocational Ideological and Political Course Teaching

Chinese dream thought is come down in one continuous line with the spirit of the 18th Chinese Communist Party Congress. It is a popular model of The Marx doctrine, which has great charisma and cohesion. If Chinese dream thought want to integrate into the teaching of ideological and political theory in higher vocational colleges, it should taking ＂the unity of the social common ideals and personal＂, ＂the unity of the historical logic and theory logic＂, and ＂the unity of the life dream and career success happiness＂ as the breakthrough point. Meanwhile, Seize the teaching content, teaching method innovation and teachers team construction of three key links, to strengthen the China dream ideological education, and strengthen the sense of the times, pertinence and effectiveness of vocational ideological and political lesson teaching.

强化措施 务求实效——全省安全隐患排查治理体系建设工作视频会议召开

11月25日,全省安全隐患排查治理体系建设工作视频会议召开。会议传达了全国隐患排查治理现场会精神,组织观看了北京市顺义区隐患排查治理体系建设专题片。