股权激励与股利政策稳定性研究——基于非效率投资的遮掩效应

本文以企业非效率投资值量化高管寻租水平,研究了股权激励对现金股利政策稳定性的影响,并探析了非效率投资在股权激励影响股利政策稳定性中的作用机制。基于代理成本理论、股利信号理论,结合我国股利政策研究现状,将股东普遍关注的现金股利政策稳定性作为股权激励效果评价的参数,选取2006—2015年A股上市公司数据,利用自由模型非参数法测定股利政策稳定性水平,借助残差分析法测算非效率投资水平,通过面板回归和层次分析法得出了以下结论：（1）股权激励后非效率投资水平增强且股利政策稳定性下降,因而股权激励不一定会发挥正效应;（2）非效率投资水平与股利政策稳定性负相关,即低效率投资减少企业自由现金流量,进而导致企业股利政策波动增强;（3）非效率投资在股权激励对股利政策稳定性的影响中,并非起到“中介作用”,而是遮掩了股权激励后股利政策稳定性的下降程度,成了高管寻租时的一个面具。论文据此提出以下对策建议：(1)客观看待股利平稳性指标,完善股权激励效果评价指标体系;(2)建立健全企业投资效率监督体系,长短期监控相结合;(3)优化上市公司股权激励方案设计,动态调整期权与股票授予比例。     

深度学习视域下在线教学的审视与思考

深度学习视域下在线教学应该是一个基于理解的、批判性的、有意义的学习过程。当前,在线教学还存在浅表化、同质化、虚假性和交互弱化等问题。深度学习视域下在线教学,需要回归学生本身,增强在线学习内容的适切性,提升教师的深度教学能力,加强在线学习平台建设。     

影响示范性高职院校项目执行力的主要因素

2006年国家示范性高职院校建设计划启动并实行项目管理。从教育部、财政部联合发布的网站观测简报及各项目进展情况来看,各示范建设高职院校的项目执行能力参差不齐。通过项目团队素质和项目管理经验两大方面,分析了影响国家示范性高等职业院校建设项目执行力的主要因素。     

Promoting children’s participation: the role of teachers in preschool and primary school learning sessions

The aim of this study is to provide insights into the social construction of participation in joint activities in Finnish preschool and primary school classrooms. The article deals with two issues: How do teachers promote participation in a preschool classroom as compared with a primary school classroom? What similarities and differences are found? It also considers the question of how the similarities contribute to the continuity from preschool to primary school in terms of participation. Based on observation data insights are provided into the interactions between teachers and children by using extracts from teacher‐led learning sessions. The teachers used a diversity of strategies to promote participation in both contexts. In the preschool the focus was on participation and interaction as such, whereas in the primary school the emphasis was more clearly on academic learning. The findings suggest that teacher support of active participation and friendly relationships, together with creative and playful activities in the preschool, enrich children’s curiosity, and nourish children’s motivation for and interests in academic learning.     

中国企业集团董事会特征与总经理报酬——基于母子公司的比较研究

基于中国沪深两市上市公司中631家企业集团2005年的数据,对中国企业集团中董事会特征与总经理报酬之间的关系进行了实证研究。通过对中国企业集团上市成员中的母公司和子公司进行比较研究,发现:(1)连锁董事比例与总经理报酬之间在企业集团母公司和子公司中均表现出正相关关系;(2)持股董事比例与总经理报酬之间在子公司中具有显著负相关关系;(3)在子公司中薪酬委员会的设置有利于总经理报酬的增加。而企业集团董事会的其它结构特征包括下派董事比例、独立董事比例、内部董事比例以及董事会规模均与总经理报酬之间不存在显著相关性。研究结果表明我国企业集团中,无论是母公司还是子公司,董事会治理效率都有待改善。     

词汇提取对于中国高职英语学习者记忆生词的影响

多项研究表明词汇提取对词汇学习具有促进作用。以24个英语单词为实验材料,高职一年级学生为实验对象,在以图片为基础的词汇教学实验中,检测在词汇提取条件下和控制条件下进行新单词学习效果的不同。     

The Choice of Effective Vocabulary Learning Strategies

This paper aims to make a comparison between good and poor language learners in the use of vocabulary learning strategies. It will introduce some helpful vocabulary learning strategies to help those frustrated Chinese college non-English major learners.     

A Process for Developing Regional Business School—Business Community Relationships

ABSTRACT

The relationship between a business school and the local business community can be a mutually beneficial relationship. For the regional business school, building relationships with business executives can be a timely and difficult challenge, which can be compounded by the presence and influence of larger private and state schools. The School of Business Administration at Oakland University (Rochester, MI), faced with these challenges, devised a simple straight-forward process that overcame these challenges and successfully involved 35 local business executives in a mutually beneficial relationship with the School in a very short time. This article describes the process, which can be used by any school or college.