Modern corporate situations, characterized by the globalisation of the markets and of the information, highlight the need to link the potential of a not transient growth to the adequate reconciliation of all the expec...Modern corporate situations, characterized by the globalisation of the markets and of the information, highlight the need to link the potential of a not transient growth to the adequate reconciliation of all the expectations converging around the entrepreneurial formula and not only of those attributable to shareholders. In such a defined context, corporate governance tends to evolve from a situation of primary care for the expectations of shareholders （shareholder＇s view） and for the correlated financial responsibility, to a wide consideration of all the stakeholders （stakeholder＇s view） and related responsibilities （financial, environmental, social, administrative）. The correct carrying out of governance processes requires, therefore, a clear focus on sustainable development and on the related assumption of a concept of global responsibility. The decisions made by the governing bodies must be driven by the purpose to create value in the long term according to conditions of fairness and sustainable development. To sum up, this research aims to deepen the existing connections between corporate governance, sustainable development and value creation on the basis of the empirical analysis of a limited number of listed Italian companies afferent to the public utilities sector. The paper, based on a deductive approach, is composed of two distinct but strictly connected parts： the first theoretical and the second empirical. The empirical research consists of a content analysis of the most recent documents （sustainability reports and annual reports） worked out by the selected companies. The results obtained about the degree respect of sustainable development conditions by each company are linked to the related value dimension （social, economic, competitive and environmental performance） aimed at verifying if the assumption of a corporate governance approach inspired by sustainability is susceptible of favouring the company development in a medium long term. From the delivered research it emerges how public utilities that promote behaviours in line with the sustainability conditions are marked out by stable growth paths. Conversely, the companies that assume a vision mainly addressed to the economic dimension, neglecting the other areas are generally compromised in the performance realized.展开更多
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 mor...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.展开更多
The Third Plenary Session of the 18th CPC Central Committee ushered in a new chapter of China＇s comprehensive deepening of reform. The basic objective of comprehensively deepening reform of the state sector of econom...The Third Plenary Session of the 18th CPC Central Committee ushered in a new chapter of China＇s comprehensive deepening of reform. The basic objective of comprehensively deepening reform of the state sector of economy in the new chapter is to fully integrate this sector with a sophisticated market economic system with the market playing the decisive role in resource allocation. In order to achieve this objective, China is confronted with the four major priorities of adjusting the functions and layout of the state sector of economy according to national mandates, expediting the mixed ownership reform, creating a classified and multi- tiered new system for the administration of the sector, and developing a modern corporate system for SOEs to ensure an efficient micro-level governance mechanism for the sector. （1） The functions of the different types of SOEs should be accurately defined and SOEs should be divided into the three types of public policy SOEs, functional SOEs, and commercial SOEs. This classification forms the premises for reforming the state sector of economy. Based on the functions of the three types of SOEs, the directions and emphases for strategic adjustment should differ as well. （2） The mixed ownership reform should adhere to the methodological principles of combining top-down and bottom-up approaches, implementing pilot programs, and promoting coordinated progress. Practical implementation should ensure fair and standard reform procedures, reform programs consistent with laws and regulations, open and fair equity transfers, as well as fair and transparent internal distributions. The mixed ownership reform of SOEs should introduce the employee stock ownership system and adhere to the principles of compatible incentives, shared growth, and long-term development. Monopolistic sectors should be transformed into competitive market structures to create conditions for the implementation of mixed ownership for SOEs. （3） The new system for the administration of the state sector of economy should comprise three hierarchies： the Commission for the Administration of State Economy at the top level, state capital operation companies or state capital investment companies at the intermediate level and general for-profit enterprises at the bottom level, which administer public policy, functional SOEs, and commercial SOEs respectively. （4） Under the new system for the administration of the state sector of economy characterized by the three hierarchies and categories, the key for perfecting the modern corporate system of SOEs is to establish a differentiated, classified governance mechanism, i.e., different corporate governance mechanisms should be created for SOEs of different functions and roles.展开更多
While conventional family-owned and family-operated farms remain the most common structure, the number of Japanese agricultural corporations has increased in recent years as a result of changing policies. Some of them...While conventional family-owned and family-operated farms remain the most common structure, the number of Japanese agricultural corporations has increased in recent years as a result of changing policies. Some of them are possibly starting to adopt modem corporate management practices to remain viable in a more competitive environment. However, changes in the business structure have not always been accompanied by changes in farm management practices. This study represents a theoretical and empirical investigation into farm modernization practices to provide perspective and recommendations to enhance farm business. Various aspects of farm modernization were considered, including temporal, economic and functional modernization. Critical elements of farm modernization were examined using a structural equation model of surveys, wherein questionnaires were delivered to 2,260 agricultural corporations across Japan in 2014 and 2016, generating 669 usable responses from rice farming corporations. Overall, these corporations demonstrated moderate degrees of modernization, indicating that they have not yet completely transitioned from conventional management styles to modem corporate management and that the farm-household complex system still exists for many of them. It was also found that farm modernization is significantly affected by both production and business management systems, although it was unclear whether a farmer＇s managerial capabilities were critical for farm modernization. The findings of this study indicate that current farming corporations may benefit from incorporating additional modernization practices. The analytical framework and results will help farmers to better understand their management practices and can be used to provide ideas for policy development to promote competitive farm businesses.展开更多
The reason for the double-edged sword effect of technology is that in modern system of knowledge, there has appeared a gap between technology and ethics which couldn＇t be found in ancient Greece. Going back to the Gr...The reason for the double-edged sword effect of technology is that in modern system of knowledge, there has appeared a gap between technology and ethics which couldn＇t be found in ancient Greece. Going back to the Greek ancestor of technology--techne, will shed a light on the solution of the problems brought about by modem technology, because even before Plato whose ideas on techne have been heatedly discussed nowadays, techne has embraced an ethical dimension.展开更多
In this paper, we conduct in-depth research on the human resource management mode based on competency model. Treatment of competency is defined based on the previous scholars, this paper defines enterprise top managem...In this paper, we conduct in-depth research on the human resource management mode based on competency model. Treatment of competency is defined based on the previous scholars, this paper defines enterprise top management competency as can change the performance is outstanding person in senior management positions in companies and generally do distinguish individual potential. Corporate culture has a strong and lasting soft binding, plays an important role in modem enterprise management. The numerical analysis supports the effectiveness and feasibility of the model. In the future, we will conduct more related work to optimize the current theory.展开更多
As the most important institutional arrangement in modem corporate, corporate governance is playing an increasingly important role in Chinese market economy, and its effect to auditor change is also being increasingly...As the most important institutional arrangement in modem corporate, corporate governance is playing an increasingly important role in Chinese market economy, and its effect to auditor change is also being increasingly tapped in recent years. This paper summarizes the reason of auditor switching, especially the elements of corporate governance. Then by selecting the A-share listed companies in China as a sample, the authors use statistical test and logistic regression analysis to explore how the 15 factors of corporate governance which are based on the indicators of Nankai University evaluation system affect auditor switching. The results show that the largest proportion of shareholding, the proportion of independent directors, and board meetings which on behalf of the level of corporate governance, have a significant and negative correlation with auditor switching. The results also show that full disclosure, litigation, and arbitration which on behave of the level of corporate governance have a significant positive correlation with auditor switching.展开更多
Enterprise Management Innovation has been a topic of concern to the business community and holds the same opinions to adhere to corporate management for innovation, but how to make companies management innovation beco...Enterprise Management Innovation has been a topic of concern to the business community and holds the same opinions to adhere to corporate management for innovation, but how to make companies management innovation becomes the business people must face. I believe that： enterprise management innovation is the innovation of the modem enterprise system, enterprise management innovation is necessary not only to establish modem corporate governance institutions, but also to establish a sound management system. Based on this idea, the purpose of this paper is to explore the enterprise management innovation, a true reflection of the necessity and creative approach to business management innovation. Through analysis, the enterprise management innovation is the scientific concept of development of specific applications in the field of enterprise management. Enterprise management innovation is the development of internal demand point of view, hoping to be helpful for Chinese enterprises to occupy a place in the fierce competition in the international market.展开更多
文摘Modern corporate situations, characterized by the globalisation of the markets and of the information, highlight the need to link the potential of a not transient growth to the adequate reconciliation of all the expectations converging around the entrepreneurial formula and not only of those attributable to shareholders. In such a defined context, corporate governance tends to evolve from a situation of primary care for the expectations of shareholders （shareholder＇s view） and for the correlated financial responsibility, to a wide consideration of all the stakeholders （stakeholder＇s view） and related responsibilities （financial, environmental, social, administrative）. The correct carrying out of governance processes requires, therefore, a clear focus on sustainable development and on the related assumption of a concept of global responsibility. The decisions made by the governing bodies must be driven by the purpose to create value in the long term according to conditions of fairness and sustainable development. To sum up, this research aims to deepen the existing connections between corporate governance, sustainable development and value creation on the basis of the empirical analysis of a limited number of listed Italian companies afferent to the public utilities sector. The paper, based on a deductive approach, is composed of two distinct but strictly connected parts： the first theoretical and the second empirical. The empirical research consists of a content analysis of the most recent documents （sustainability reports and annual reports） worked out by the selected companies. The results obtained about the degree respect of sustainable development conditions by each company are linked to the related value dimension （social, economic, competitive and environmental performance） aimed at verifying if the assumption of a corporate governance approach inspired by sustainability is susceptible of favouring the company development in a medium long term. From the delivered research it emerges how public utilities that promote behaviours in line with the sustainability conditions are marked out by stable growth paths. Conversely, the companies that assume a vision mainly addressed to the economic dimension, neglecting the other areas are generally compromised in the performance realized.
文摘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.
文摘The Third Plenary Session of the 18th CPC Central Committee ushered in a new chapter of China＇s comprehensive deepening of reform. The basic objective of comprehensively deepening reform of the state sector of economy in the new chapter is to fully integrate this sector with a sophisticated market economic system with the market playing the decisive role in resource allocation. In order to achieve this objective, China is confronted with the four major priorities of adjusting the functions and layout of the state sector of economy according to national mandates, expediting the mixed ownership reform, creating a classified and multi- tiered new system for the administration of the sector, and developing a modern corporate system for SOEs to ensure an efficient micro-level governance mechanism for the sector. （1） The functions of the different types of SOEs should be accurately defined and SOEs should be divided into the three types of public policy SOEs, functional SOEs, and commercial SOEs. This classification forms the premises for reforming the state sector of economy. Based on the functions of the three types of SOEs, the directions and emphases for strategic adjustment should differ as well. （2） The mixed ownership reform should adhere to the methodological principles of combining top-down and bottom-up approaches, implementing pilot programs, and promoting coordinated progress. Practical implementation should ensure fair and standard reform procedures, reform programs consistent with laws and regulations, open and fair equity transfers, as well as fair and transparent internal distributions. The mixed ownership reform of SOEs should introduce the employee stock ownership system and adhere to the principles of compatible incentives, shared growth, and long-term development. Monopolistic sectors should be transformed into competitive market structures to create conditions for the implementation of mixed ownership for SOEs. （3） The new system for the administration of the state sector of economy should comprise three hierarchies： the Commission for the Administration of State Economy at the top level, state capital operation companies or state capital investment companies at the intermediate level and general for-profit enterprises at the bottom level, which administer public policy, functional SOEs, and commercial SOEs respectively. （4） Under the new system for the administration of the state sector of economy characterized by the three hierarchies and categories, the key for perfecting the modern corporate system of SOEs is to establish a differentiated, classified governance mechanism, i.e., different corporate governance mechanisms should be created for SOEs of different functions and roles.
文摘While conventional family-owned and family-operated farms remain the most common structure, the number of Japanese agricultural corporations has increased in recent years as a result of changing policies. Some of them are possibly starting to adopt modem corporate management practices to remain viable in a more competitive environment. However, changes in the business structure have not always been accompanied by changes in farm management practices. This study represents a theoretical and empirical investigation into farm modernization practices to provide perspective and recommendations to enhance farm business. Various aspects of farm modernization were considered, including temporal, economic and functional modernization. Critical elements of farm modernization were examined using a structural equation model of surveys, wherein questionnaires were delivered to 2,260 agricultural corporations across Japan in 2014 and 2016, generating 669 usable responses from rice farming corporations. Overall, these corporations demonstrated moderate degrees of modernization, indicating that they have not yet completely transitioned from conventional management styles to modem corporate management and that the farm-household complex system still exists for many of them. It was also found that farm modernization is significantly affected by both production and business management systems, although it was unclear whether a farmer＇s managerial capabilities were critical for farm modernization. The findings of this study indicate that current farming corporations may benefit from incorporating additional modernization practices. The analytical framework and results will help farmers to better understand their management practices and can be used to provide ideas for policy development to promote competitive farm businesses.
文摘The reason for the double-edged sword effect of technology is that in modern system of knowledge, there has appeared a gap between technology and ethics which couldn＇t be found in ancient Greece. Going back to the Greek ancestor of technology--techne, will shed a light on the solution of the problems brought about by modem technology, because even before Plato whose ideas on techne have been heatedly discussed nowadays, techne has embraced an ethical dimension.
文摘In this paper, we conduct in-depth research on the human resource management mode based on competency model. Treatment of competency is defined based on the previous scholars, this paper defines enterprise top management competency as can change the performance is outstanding person in senior management positions in companies and generally do distinguish individual potential. Corporate culture has a strong and lasting soft binding, plays an important role in modem enterprise management. The numerical analysis supports the effectiveness and feasibility of the model. In the future, we will conduct more related work to optimize the current theory.
文摘As the most important institutional arrangement in modem corporate, corporate governance is playing an increasingly important role in Chinese market economy, and its effect to auditor change is also being increasingly tapped in recent years. This paper summarizes the reason of auditor switching, especially the elements of corporate governance. Then by selecting the A-share listed companies in China as a sample, the authors use statistical test and logistic regression analysis to explore how the 15 factors of corporate governance which are based on the indicators of Nankai University evaluation system affect auditor switching. The results show that the largest proportion of shareholding, the proportion of independent directors, and board meetings which on behalf of the level of corporate governance, have a significant and negative correlation with auditor switching. The results also show that full disclosure, litigation, and arbitration which on behave of the level of corporate governance have a significant positive correlation with auditor switching.
文摘Enterprise Management Innovation has been a topic of concern to the business community and holds the same opinions to adhere to corporate management for innovation, but how to make companies management innovation becomes the business people must face. I believe that： enterprise management innovation is the innovation of the modem enterprise system, enterprise management innovation is necessary not only to establish modem corporate governance institutions, but also to establish a sound management system. Based on this idea, the purpose of this paper is to explore the enterprise management innovation, a true reflection of the necessity and creative approach to business management innovation. Through analysis, the enterprise management innovation is the scientific concept of development of specific applications in the field of enterprise management. Enterprise management innovation is the development of internal demand point of view, hoping to be helpful for Chinese enterprises to occupy a place in the fierce competition in the international market.
