价值链模式下的公司价值创造研究

公司价值最大化已成为公司普遍接受的理财目标假设,价值链模式下研究公司价值创造有着现实的理论意义和实践意义。价值链模式下的公司价值创造的驱动因素包括:价值链所创造的最大化的顾客价值,公司整体价值链创造价值的核心能力,价值链成员之间的相互合作关系,公司价值链独特性。价值链模式下的价值创造,无论是竞争理念的升华,还是创造公司价值的深度和广度,都开辟了一个新的途径和新的视野。     

专利活动和市场价值——基于信号理论的解释

专利是企业创新的重要产出形式,作为一种专有性资产会给企业带来竞争优势。围绕此议题,已有研究通过资源观视角提供了丰富的理论解释和实证检验。在企业实践中,专利的战略作用还体现在向利益相关者释放企业技术水平的信号,但在现有研究、特别是中国情境的研究中没有受到足够的关注。研究运用信号理论的相关观点探讨了企业专利活动在资本市场上的信号释放作用以及影响信号有效性的调节机制。基于中国2 250家上市公司2001—2011年14 817个观测值的面板数据分析可以得出的初步结论是:中国企业的专利数量对上市公司的市场价值有显著的正向影响,说明专利活动向投资者传递了积极的信号;同时,这种正向影响在企业可见性和行业竞争强度更高时更强。     

企业技术创新投资与其资本结构、规模之间关系的实证研究

本文以江苏省具有省级或国家级技术中心125家公司为研究对象,考察技术创新投资与其资本结构、规模之间的关系。实证结果表明,企业的技术创新投资与资本结构呈现负相关关系,而与其规模呈正相关关系,在一定程度上支持熊彼特假说。     

知识产权能力构成、内外影响因素与企业成长——内力驱动,还是外部推进?

在经济全球化和转型时代,我国企业面临着新的机遇和挑战,尤其是知识密集的高技术企业,急需转换发展模式,强化创新对发展的驱动作用。因此,企业对知识产权开发和相应能力的建设也被提到了前所未有之高度,对企业知识产权能力的研究成为急需探讨的理论问题。本文论述了企业知识产权能力、知识产权能力构成与企业成长性之间的关系机制,并在此基础上对知识产权能力构成的内外部影响因素展开进一步的探讨。通过对103家计算机应用上市企业的实证分析发现,知识产权能力与企业成长性之间存在显著关联。另一方面,企业的开放度、技术水平、投入水平是其知识产权能力形成的主要内部因素;而区域知识产权保护强度、产业开放性、产业技术水平则是其知识产权能力形成的主要外部因素。     

加计扣除政策、研发操纵与民营企业自主创新

 基于2008-2017年中国A股民营上市公司的创新数据，从研发操纵视角，实证检验了加计扣除政策对民营企业自主创新的影响。实证结果表明：（1）加计扣除政策激励了民营企业自主创新，而研发操纵抑制这种激励效果；（2）随着加计扣除政策2013年和2015年的两次修改，民营企业的研发操纵行为得到一定治理；（3）研发操纵在盈利、非家族、非高新技术及税收监管弱的民营企业中更显著。本研究不仅为税收政策引发的激励扭曲效应提供微观证据，还为完善加计扣除政策提供建议。     

创新驱动下信息技术企业并购效应研究——基于产品市场和资本市场双重视角

并购不仅为股东带来财富效应，还使企业产品市场获得延伸，并为新产品开发获取创新技术与资源，最终导致产品差异化，而差异化是企业竞争优势的主要来源。本文以2010—2015年信息技术企业的并购事件为实验样本组，利用倾向得分匹配法构造与实验组特征相同的控制组，基于产品市场和资本市场双视角，运用双重差分法实证检验创新驱动下信息技术企业的并购效应及影响因素。研究发现：对于电子信息制造业，并购提升了产品差异化水平；对于软件信息服务行业，并购降低了产品差异化水平；行业竞争和内部研发强度能够增强信息技术企业并购的产品差异化效应；投资者对信息技术企业并购决策的短期市场反应为负，主并公司的投资机会正向调节并购的股市绩效；不同特征的收购目标会带来不同的并购效应，并购双方技术互补性正向调节并购的产品差异化效应和股市绩效，而目标公司成熟度负向调节并购的产品差异化效应，正向调节并购的股市绩效。     

战略网络对企业绩效影响分析

传统的战略研究把企业看成一个自治的实体，通过建立核心能力或市场定位来获得租金，实现持续的竞争优势，忽略了企业战略网络及其社会关系对企业行为和绩效的影响。本文在论述了战略网络的涵义及其特征的基础上，从社会关系和网络观的角度，分析了战略网络对企业行为和绩效的影响，证明一个企业的租金部分来源于其拥有的核心能力的贡献，也有部分产生于其自身的战略网络及其社会关系。因此，整合战略网络思想于企业战略研究之中是一种必然趋势。     

基于技术创新审计的创新型企业评价标准构建

本文在回顾创新型企业评价标准前人研究的基础上,以技术创新审计理论为出发点,总结了四类技术创新审计模型,构建了创新型企业操作性定义和全面创新评价标准的创新输入-创新过程-创新输出概念模型,为实证检验创新型企业标准提供了理论基础。     

重大突发事件背景下应急型组织合作模式与运作逻辑

Major emergencies aggravate the environmental uncertainty and complexity faced by organizations. Seeking inter-organizational cooperation becomes an important strategic decision for firms to cope with the external impact of emergencies. This study uses a dual case study method, taking the 2019-nCoV outbreak as an important research background. Based on the resource dependence theory and social network theory, this study proposes the emergency organization cooperation model and analyzes its structural characteristics and key operational logic. The study found: First, the "distributed fixed-point radiation model" and "integrated interconnected symbiosis model" are the important organizational cooperation models adopted by two core firms, "professional producers" and "cross-border convertors", in response to major emergencies. Based on the differences in resource capabilities, there is heterogeneity in the logic of core firm building emergency organization cooperation. The core firm rely on the key core resources they possess to implement "fixed-point" technical support and resource supply to the node firms with professional production qualifications, and to play the advantage of the professional producer alliance in responding to external environmental impacts and degrading production complexity. This kind of cooperation model can be abstracted into "distributed fixed-point radiation model". When core firm and their node firms conduct cross-border conversion cooperation to meet market emergency needs, their cooperation model emphasizes resource sharing and risk sharing among organization members. This cooperation model is defined as an "integrated interconnected symbiosis model".   Second, core firms with differentiated resource capabilities exhibit different emergency action paths. As a professional producers, through centralized power allocation, a unified emergency command unit is built to enhance the vertical integration capability of resources, thereby enhancing the resource locking ability of node firms; as a core firm of cross-border transition producers, by establishing specialization the project team formed a key force to solve the complexity of cross-border production, and used its ability to coordinate and transform resources to solve the rigid constraints of resources for cross-border conversion.    Third, the key logic of the operation of the two types of organizational cooperation models is different. In the "distributed fixed-point radiation model", the goal of organizational cooperation is " preventing epidemic and saving market", and due to the lack of cooperation foundation with most small and medium-sized medical mask manufacturers, the core firm and partners have adopted contract governance for effective interaction, and relied on the organizational form of "core firm leading + node firms following" to determine the participation in the cooperation subject′s rights and responsibilities. In the "integrated interconnected symbiosis" model, the value creation of organizational cooperation takes into account to fill the gap in social demand and assist the supply chain node firm to resume work. Their cooperation objectives are both "epidemic prevention and self-help". The core firm and the node firms jointly build a linkage conversion strategy on the basis of previous cooperation, and the interaction among members of the organization depends on the governance of the relationship, showing the organizational form of "core firm coordination + node firms participation". This study can enrich the literature of public crisis management based on the micro perspective of firms; in addition, the conclusions can provide policy suggestions for mitigating the impact of the epidemic on the key strategic material market, and provide management inspiration for improving the company′s defense against major emergencies.     

企业成长三维研究框架初探

以企业成长为核心．选取了成长区位、机会市场和优势技术三个要素,构建了企业成长三维研究框架,认为创业和战略导向融合差异导致了企业成长方式的不同;对六家青岛企业成长的特点与羞异进行了分析,以期对中国企业成长有所启示与借鉴．