After numerous spectacular balance scandals in the United States and Europe, an international discussion about the quality of audits as well as the necessity to raise the quality of financial audits arose. The United ...After numerous spectacular balance scandals in the United States and Europe, an international discussion about the quality of audits as well as the necessity to raise the quality of financial audits arose. The United States of America responded to this discussion with the ＂Sarbanes-Oxley Act＂, while the European Union decreed the directive 2006/43/EC. The mentioned directive updated the statutory provisions for the professional guild of auditors to increase the quality of audits. In detail, it demanded an external quality-control-system combined with public supervision for the profession of auditors to ensure a better quality. Due to this fact, the audit companies now have to fulfill a large range of requirements to provide evidence of their consistent auditing-quality and furthermore of the quality standards within their company. Since many small and medium-sized companies are not able to fulfill these new requirements, the number of small and medium-sized audit companies decreases noticeably. This paper discusses the research results on the effects of external quality control^given by law---on the auditor market in Germany focusing on small and medium-sized audit companies. Additionally the research examines that, if the external quality control, which was one of the justifications of the conversions of the EU-directive 2006/43/EC is able to increase the quality in audit companies at all. Therefore it needs to be tested whether there is a uniform and fits all approach of quality in audits. The research questions and the tests were analyzed scientifically and confirmed in several expert interviews with four different expert groups in Germany.展开更多
Presently,the environmental pollution problem,especially that of the small and medium-sized enterprises,has become a bottleneck restricting the high-quality development of China’s economy.It is imperative to accelera...Presently,the environmental pollution problem,especially that of the small and medium-sized enterprises,has become a bottleneck restricting the high-quality development of China’s economy.It is imperative to accelerate the construction of a collaborative governance system with multiple subject participation.The behavior modes of Environmental Non-governmental Organizations(ENGOs),a key player in environmental care,in collaborating with core enterprises to control pollution from small and medium-sized suppliers should be explored.Therefore,we constructed a collaborative governance system consisting of ENGOs,focal firms and small and medium-sized suppliers.Then a two-stage game model was established to analyze the strategies of the governance system.Specifically,we studied the collaborative green cooperation strategy and antagonistic pressure supervision strategy between ENGOs and focal firms,analyzed factors influencing the strategic choices of each subject,and gave the advantages of the cooperation strategies through further comparisons.The results showed that:Under the cooperation strategy,ENGOs provided knowledge of environmental protection to the focal firms,then both the audit efforts of focal firms and the environmental protection efforts of small and medium-sized suppliers were effectively improved.Since ENGOs could not fully obtain the pollution information of small and medium-sized suppliers or accurately trace it from their downstream focal firms,it was difficult to drive the supply chain’s endogenous governance by this external monitoring of ENGOs,making the effect of pressure supervision strategy limited.The effectiveness of green cooperation strategy was positively correlated with the knowledge absorption capacity of focal firms,the unit product revenue,and the focal firms'violation penalties for small and medium-sized suppliers.When ENGOs'violation penalties for small and medium-sized suppliers were higher,or the reputation loss of focal firms was higher,more unfavorable conditions of green cooperation strategy could be achieved.Accordingly,ENGOs should choose to cooperate with focal firms with strong knowledge absorption ability and high profit per product;focal firms should learn environmental protection knowledge to improve the screening standards and review capabilities,and promote the achievement of green cooperation strategy conditions by strengthening active information disclosure;the government should promote the collaboration between ENGOs and focal firms by issuing environmental guidelines.展开更多
Entrepreneurship has become an attribute of the current growth without business activities. Entrepreneurship is a global world. It is not possible to think about economic driving force of technological development and...Entrepreneurship has become an attribute of the current growth without business activities. Entrepreneurship is a global world. It is not possible to think about economic driving force of technological development and scientific research. It materializes knowledge and involvement of people and society. Expansion of business activities is a source of individual country＇s economic performance. It contributes to the development of people＇s living standards. In every market economy, it represents an irreplaceable role for small and medium-sized enterprises （SMEs）. A strong representation of＂micro-enterprises＂ can be found in the field of personal services. Companies within the course of their existence go through particular stages of their development--from their foundation through the stage of steady development. After this stage, there comes their decline that can develop even into their termination. We indicate this process as a company life cycle. The aim of the submitted project is to map the life cycle of particularly chosen companies providing accommodation and catering services and to find a mutual relation among observed quantities and their stable economic positions in the market. The analysis is based on the data of macro-economic character, the data about development of receipts in the sector, development of inflation, tempo of economic growth, and development of consumer prices. Out of a company, non-financial factors will also be considered. The core of the analysis is the stage of sustainable stability of the assessed companies. The point of the findings is revelation of the causes of risks of possible transition into the stage of termination due to the decline of services volume, decline of profitability, and long-lasting payment insolvency. The contribution of the project is to draw our attention to possible risks of critical situation development and to propose how to avoid them so that the company will not occur in financial straits. Achieved information could assist the company management to make relevant decisions.展开更多
The past several years have seen Chinese companies participating in a growing number of overseas M&A deals for increasing values.Most of China's state-owned enterprises' overseas M&A deals are in the r...The past several years have seen Chinese companies participating in a growing number of overseas M&A deals for increasing values.Most of China's state-owned enterprises' overseas M&A deals are in the resource and mining sectors,while private companies' deals are usually done to obtain advanced technologies and reputable brands.We can conclude,based on previous experiences,that small and medium-sized companies as well as those engaged in import substitution have a much greater chance for successful integration.Large companies and those with an export-orientated nature have slimmer chances for successful integration.The overseas M&A verification system the Chinese government practices is unfavorable for successful deals and the upgrade of Chinese companies.展开更多
This paper reflects on the theme of sustainability and territorial social responsibility, which, in this context, is defined as a pathway promoted by a plurality of public and private actors, for- and non-profit, who ...This paper reflects on the theme of sustainability and territorial social responsibility, which, in this context, is defined as a pathway promoted by a plurality of public and private actors, for- and non-profit, who find that social cohesion and the relationships that are cultivated in the place from which these diverse ＂protagonists＂ come, are the drivers in the construction of shared territorial governance. The efficacy of such processes in the local context （communal, provincial, and regional） is predicated on the culture and on the values that the diverse, networked stakeholders-actors accumulate in their territory （meso level）. In developing this theme, the paper is divided into several parts. The first part describes the theoretical context, which is illustrated by an enumeration of experiences realized at the local level in Italy. We then focus our analysis on the experience of territorial govemance promoted in the Marches Region. This project was selected as a case study, because it is emblematic of the Italian context; the territory is characterized by the diffuse presence of small businesses in the soeio-economic fabric and by the proactive role of the local government. The case allows us to evaluate this paper＇s fundamental proposition, that the policies of the European Commission [EC] and the Government of Italy for promoting Corporate Social Responsibility and sustainability are not concretely effective when they are not fostered by regional authorities together with local private actors. Furthermore, public initiatives, to be effective, should take into consideration the influence of local culture, the social milieu, and economic factors shaping the environment in which public-private networks arise.展开更多
Nowadays, the policy of encouraging the development of SMEs, starting a business has become a popular choice for many people. Alongside entrepreneurial talent, the legal environment and system design are also very sig...Nowadays, the policy of encouraging the development of SMEs, starting a business has become a popular choice for many people. Alongside entrepreneurial talent, the legal environment and system design are also very significant for SMEs＇ surviving. This Article provides the successful experiences of SMEs in YIWU, including raising sufficient capital from private finance, highly autonomous forms of enterprise, as well as thinking highly of intellectual property. This article analyses the current problems of SMEs from both legal and economic perspectives, and gives three proposals： legalising underground lending system and creating private banks, introducing the Limited Liability Company into China, and providing the road for transforming intellectual property rights into easily realisable interests, for the purpose of building a more advantageous developing environment for SMEs.展开更多
文摘After numerous spectacular balance scandals in the United States and Europe, an international discussion about the quality of audits as well as the necessity to raise the quality of financial audits arose. The United States of America responded to this discussion with the ＂Sarbanes-Oxley Act＂, while the European Union decreed the directive 2006/43/EC. The mentioned directive updated the statutory provisions for the professional guild of auditors to increase the quality of audits. In detail, it demanded an external quality-control-system combined with public supervision for the profession of auditors to ensure a better quality. Due to this fact, the audit companies now have to fulfill a large range of requirements to provide evidence of their consistent auditing-quality and furthermore of the quality standards within their company. Since many small and medium-sized companies are not able to fulfill these new requirements, the number of small and medium-sized audit companies decreases noticeably. This paper discusses the research results on the effects of external quality control^given by law---on the auditor market in Germany focusing on small and medium-sized audit companies. Additionally the research examines that, if the external quality control, which was one of the justifications of the conversions of the EU-directive 2006/43/EC is able to increase the quality in audit companies at all. Therefore it needs to be tested whether there is a uniform and fits all approach of quality in audits. The research questions and the tests were analyzed scientifically and confirmed in several expert interviews with four different expert groups in Germany.
文摘Presently,the environmental pollution problem,especially that of the small and medium-sized enterprises,has become a bottleneck restricting the high-quality development of China’s economy.It is imperative to accelerate the construction of a collaborative governance system with multiple subject participation.The behavior modes of Environmental Non-governmental Organizations(ENGOs),a key player in environmental care,in collaborating with core enterprises to control pollution from small and medium-sized suppliers should be explored.Therefore,we constructed a collaborative governance system consisting of ENGOs,focal firms and small and medium-sized suppliers.Then a two-stage game model was established to analyze the strategies of the governance system.Specifically,we studied the collaborative green cooperation strategy and antagonistic pressure supervision strategy between ENGOs and focal firms,analyzed factors influencing the strategic choices of each subject,and gave the advantages of the cooperation strategies through further comparisons.The results showed that:Under the cooperation strategy,ENGOs provided knowledge of environmental protection to the focal firms,then both the audit efforts of focal firms and the environmental protection efforts of small and medium-sized suppliers were effectively improved.Since ENGOs could not fully obtain the pollution information of small and medium-sized suppliers or accurately trace it from their downstream focal firms,it was difficult to drive the supply chain’s endogenous governance by this external monitoring of ENGOs,making the effect of pressure supervision strategy limited.The effectiveness of green cooperation strategy was positively correlated with the knowledge absorption capacity of focal firms,the unit product revenue,and the focal firms'violation penalties for small and medium-sized suppliers.When ENGOs'violation penalties for small and medium-sized suppliers were higher,or the reputation loss of focal firms was higher,more unfavorable conditions of green cooperation strategy could be achieved.Accordingly,ENGOs should choose to cooperate with focal firms with strong knowledge absorption ability and high profit per product;focal firms should learn environmental protection knowledge to improve the screening standards and review capabilities,and promote the achievement of green cooperation strategy conditions by strengthening active information disclosure;the government should promote the collaboration between ENGOs and focal firms by issuing environmental guidelines.
文摘Entrepreneurship has become an attribute of the current growth without business activities. Entrepreneurship is a global world. It is not possible to think about economic driving force of technological development and scientific research. It materializes knowledge and involvement of people and society. Expansion of business activities is a source of individual country＇s economic performance. It contributes to the development of people＇s living standards. In every market economy, it represents an irreplaceable role for small and medium-sized enterprises （SMEs）. A strong representation of＂micro-enterprises＂ can be found in the field of personal services. Companies within the course of their existence go through particular stages of their development--from their foundation through the stage of steady development. After this stage, there comes their decline that can develop even into their termination. We indicate this process as a company life cycle. The aim of the submitted project is to map the life cycle of particularly chosen companies providing accommodation and catering services and to find a mutual relation among observed quantities and their stable economic positions in the market. The analysis is based on the data of macro-economic character, the data about development of receipts in the sector, development of inflation, tempo of economic growth, and development of consumer prices. Out of a company, non-financial factors will also be considered. The core of the analysis is the stage of sustainable stability of the assessed companies. The point of the findings is revelation of the causes of risks of possible transition into the stage of termination due to the decline of services volume, decline of profitability, and long-lasting payment insolvency. The contribution of the project is to draw our attention to possible risks of critical situation development and to propose how to avoid them so that the company will not occur in financial straits. Achieved information could assist the company management to make relevant decisions.
文摘The past several years have seen Chinese companies participating in a growing number of overseas M&A deals for increasing values.Most of China's state-owned enterprises' overseas M&A deals are in the resource and mining sectors,while private companies' deals are usually done to obtain advanced technologies and reputable brands.We can conclude,based on previous experiences,that small and medium-sized companies as well as those engaged in import substitution have a much greater chance for successful integration.Large companies and those with an export-orientated nature have slimmer chances for successful integration.The overseas M&A verification system the Chinese government practices is unfavorable for successful deals and the upgrade of Chinese companies.
文摘This paper reflects on the theme of sustainability and territorial social responsibility, which, in this context, is defined as a pathway promoted by a plurality of public and private actors, for- and non-profit, who find that social cohesion and the relationships that are cultivated in the place from which these diverse ＂protagonists＂ come, are the drivers in the construction of shared territorial governance. The efficacy of such processes in the local context （communal, provincial, and regional） is predicated on the culture and on the values that the diverse, networked stakeholders-actors accumulate in their territory （meso level）. In developing this theme, the paper is divided into several parts. The first part describes the theoretical context, which is illustrated by an enumeration of experiences realized at the local level in Italy. We then focus our analysis on the experience of territorial govemance promoted in the Marches Region. This project was selected as a case study, because it is emblematic of the Italian context; the territory is characterized by the diffuse presence of small businesses in the soeio-economic fabric and by the proactive role of the local government. The case allows us to evaluate this paper＇s fundamental proposition, that the policies of the European Commission [EC] and the Government of Italy for promoting Corporate Social Responsibility and sustainability are not concretely effective when they are not fostered by regional authorities together with local private actors. Furthermore, public initiatives, to be effective, should take into consideration the influence of local culture, the social milieu, and economic factors shaping the environment in which public-private networks arise.
文摘Nowadays, the policy of encouraging the development of SMEs, starting a business has become a popular choice for many people. Alongside entrepreneurial talent, the legal environment and system design are also very significant for SMEs＇ surviving. This Article provides the successful experiences of SMEs in YIWU, including raising sufficient capital from private finance, highly autonomous forms of enterprise, as well as thinking highly of intellectual property. This article analyses the current problems of SMEs from both legal and economic perspectives, and gives three proposals： legalising underground lending system and creating private banks, introducing the Limited Liability Company into China, and providing the road for transforming intellectual property rights into easily realisable interests, for the purpose of building a more advantageous developing environment for SMEs.
