我国农村水利现代化的发展规律初探

水利现代化是经济社会现代化的一部分,涉及到加强基础设施、建立可靠的水安全体系、发展水利服务等物质层面,也包含水利现代化的理念、动力、路径、内涵等进程。基于对世界一些先进国家和国内某些省水利现代化的发展研究,探讨了我国农村水利现代化发展的进程有序和相似性、进程的国家差异和进程特征、水利投资的特点等一些客观规律性。

New Managerial Figures in the Process of Entrepreneurial Change and SME Flexibility

The world entrepreneurial scenery, being under constant evolution because of globalization and the current international crisis, has changed corporate competition, requiring companies to meet such key-factors to success as increased organizational flexibility and innovative development of their structures and products. Thus ＂NTBF＂ （New Technology Based Firms） are increasingly developing, that are able to act both as a major player in the innovation process, and as a link between the market and the production world and that need not only venture capital to cope with the large initial investment, but also such figures that, with their leadership qualities, are able to anticipate the market development. As a result, the emergence of the knowledge society has increasingly driven companies to search for new business figures, playing both the role of financing partners and of valuable support to the entrepreneur in running a business. Such distinguishing characteristics appear to be peculiar to the figure of the business angel that, thanks to the know-how and international contacts, acts not only as a simple partner but also as a leading force within the company, who is able to simplify the decision process of the business and drive it to plan profitable investment and winning strategies. Therefore, the present work is aimed at understanding how such a figure is crucial to the development of new companies operating in emerging economies being, as well, technologically advanced, as it is the case for Estonia, which is called the ＂Silicon Valley of the Baltic Sea＂. Thus, the work will first focus on the functions, organization and the benefits resulting from the involvement of business angels and, secondly, on the reasons why this figure is preferable to other operators involved in venture capital, namely venture capitalists. Finally, the good practices implemented in Europe by the various associations of business angels will be analyzed, paying particular attention to the Italian context, in order to consider the opportunity to develop, even in the Baltic Republics area, a similar institution being able to ensure, by promoting contact between entrepreneurs and business angels, the proper development of businesses, especially starting-up companies.

Rationality and Risk Management of the Basic Old-age Insurance Fund Invested in the Capital Market

With the accelerated development of population aging, the pressure to pay for the future pension fund in our country is increasing. Affected by many factors, such as investment limits, inflation and interest rate cut, the rate of return on investment is very low. The introduction of the new policy allows the basic pension fund to enter the capital market, which is of great significance to improve the rate of return on investment, ease the pressure of capital gap, and promote the healthy development of the capital market. This paper makes a deep analysis of the rationality of the basic endowment insurance fund entering the market, and then puts forward some suggestions to avoid the risk of the pension market.

The Demise of Knowledge Management Executive Leadership： An Empirical Study of Leading Companies That Have Changed Their Knowledge Management Strategies？

Knowledge management is increasingly under attack to show returns on investments and profitable business outcomes. While many companies retain their executive leadership as chief knowledge officers （CKOs） and vice presidents of knowledge management, the trend toward appointing CKOs that developed in the late 1990＇s has been reversed at many companies and a new trend is to assign the strategic functions of knowledge management to the chief information officer （CIO）. This new strategic approach has many ramifications that determine if the firm will be able to meet not only short-term objectives but firm mission strategic outcomes as well. This paper researches over 100 knowledge management executives respondents in a broad cross-section of medium and large US industries and organizations to question why the shift is occurring and what the strategic basis is for this shift？ The results of this study clearly show that there are pros and cons to make this strategic shift and that many firms are doing so with little actual factual knowledge of the strategic effects on performance or intellectual capital formation. This paper and empirical ftrm performance and patent research is designed to give that top manager （CEO） the appropriate information to make rational decisions based on facts when considering eliminating or consolidation of CKO into the CIO function. Decisions on CLO and CKO positions should be based on the fu＇m related performance in both measurable intellectual property and financial results. The results are presented and summarized and the statistical methodology of regression and correlation are used in this paper.

The Convergence of Set-Valued Scenario Approach for Downside Risk Minimization

Scenario approach is a widely used tool in portfolio risk management,however,it often runs into dilemma when determining the distribution of asset returns with insufficient information,which will be used to simulate the scenarios.Also the quality of generated scenarios are not guaranteed even when the distribution of asset returns is known exactly.A set-valued scenario approach was proposed by Zhu,et al.(2015)as a possible remedy.As a necessary supplement of the results proposed by Zhu,et al.(2015),this paper theoretically investigates the convergent property of the numerical solution based on the set-valued scenario approach under the condition that the underlying distribution is known.