全球跨国并购的新特征及动因透视

自 2 0世纪 90年代以来 ,全球掀起新一轮企业跨国并购浪潮 ,并成为对外直接投资的最主要形式 .文章在对当前全球跨国并购最新特征进行分析的基础上 ,深入探讨了引起全球跨国并购急剧增长的内因和外因 ,从而为加入WTO后中国企业迎接全球跨国并购浪潮 ,以及更好地推行“走出去”战略提供决策参考 .     

从两种文化的碰撞走向融合－－评亨利·詹姆斯的《一位女士的画像》

美国作家亨利·詹姆斯在《一位女士的画像》中描写了一位单纯而又富有个性的美国姑娘在渴望了解欧洲文化、追求独立人生的道路上所遭遇的种种碰撞 ,揭示出在融合欧美文化思想道路上的艰辛与坎坷。这里试图通过分析主人公伊沙贝尔在与移民欧洲的美国人交往中发生的碰撞及碰撞后的反思 ,去挖掘作者本人和主人公内心深处渴望融合欧美文化的美好愿望和由此引发的焦虑与企盼     

中国企业跨国并购中的文化整合探析

本文分析了中国企业近几年实施的跨国并购中文化整合失败的原因,并结合我国的实际提出了相应的文化整合对策,以期为我国企业跨国并购中的文化整合提供有益的参考。     

Going with the flow: First‐cycle higher education in a lifelong learning context

Abstract

Higher education is in flux as governments around the world seek to use it as an instrument to enhance national economies, and the half‐life of knowledge steadily decreases. Lifelong learning is presented as critically important to the development of human capital, but its implications for first‐cycle higher education have yet to be fully appreciated. It is argued that first‐cycle higher education is evolving in the light of changes in the relationship between the academy and employers. Students’ part‐time work is a significant component of their experience in higher education, yet its potential for learning is generally under‐exploited. The argument is made that part‐time work can be drawn into the formal curriculum without prejudice to traditional academic concerns, particularly if a lifelong learning perspective is taken.     

并购对企业技术能力的影响研究——联想IBM并购案的专利信息分析

以联想并购IBM PC业务为例,采集了联想并购前后的相关专利信息,对其专利数量、领域、被引进行了分析,从而反映企业并购前后技术能力的变化。研究发现联想并没有通过并购提升了其本土以及海外的技术能力。     

Impact of the excise tax on firm R&D and performance in the medical device industry: Evidence from the Affordable Care Act

This article examines how the excise tax affects firms’ R&D investment, performance, and market strategy in the US medical device industry. The Affordable Care Act imposed a 2.3% excise tax on medical devices beginning in January 2013, and thus this study compares the medical device firms with other high-tech firms before and after the tax incidence. Using COMPUSTAT data from 2006 to 2015, the author finds that the excise tax reduced R&D investment, sales revenue, gross margins, and earnings for medical device firms. In addition, the excise tax increased their global market sales intensity, global market diversification, and customer diversification in the US domestic market.     

大股东变更和高层更换:市场绩效的实证研究

针对1997年到2001年我国上市公司并购中控制权变更的282例样本，就其控制权变更公告日效应的平均超常收益率和累计平均超常收益率进行实证分析。研究结论显示：(1)我国上市公司并购中控制权变更的信号传递效应在[-2，2]区间上完全实现。(2)在我国上市公司并购中控制权变更公告日收益率变动呈现出如下趋势：在公告日信号传递效应区间，其收益率显为正；随着传递时间延伸，收益率显为负，从而在整体上，我国上市公司并购中控制权变更对并购公司股东并未显示出明显绩效改善。(3)上述结论统计检验极其显。     

我国企业并购存在的问题及对策

企业并购作为资本运营的核心，能促使企业获得较好的经济效益，但我国目前由于社会主义市场经济体制发展不完备，使得企业并购面临许多问题。我国应该针对这些问题，加快改革步伐，采取相应对策，促进企业并购。     

Launching the Unified National System: What happened in South Australia

The focus of this article ison the processes by which five tertiaryinstitutions in South Australia were integratedinto the Unified National System in 1991. Incontrast with what occurred in some otherStates, the South Australian institutions wereallowed unusual scope for self-determinationwithin the broad national policy framework. Inpractice, this apparent freedom of choiceproved a mixed blessing. Institutionalambitions no less than individual aspirationsand self-interest tended to modify and delaydecision-making processes. However, the longdrawn-out wrangling and debate eventually ledthe key participants from conflict tocooperation and an acceptable compromise.     

Merging divergent campus cultures into coherent educational communities: Challenges for higher education leaders

Mergers in higher education areviewed here as a sociocultural issue. Concentrating particularly on mergers inAustralia during the late 1980s and beyond,highlighted are some cultural challenges thatarose and strategies adopted by institutionalleaders in trying to create integratedcommunities from the merging of campus culturesthat were historically and symbolicallyun-complementary. By viewing a number ofcases, how hoped-for post-merger integration or`coherent educational communities' were andwere not achieved is a specific focus. Evidence indicates that in newly mergedcampuses integrated as opposed to federal structures provide more scope for tightercultural integration. In particular, expertleadership is needed that keeps culturalconflict to a minimum and pays specialattention to developing new loyalties, highmorale and a sense of community within thenewly created institution.