The Catch-up Strategy of Petrobrás through Cooperative R&D

This article seeks to reflect on the possibilities of cooperative R&D to constitute an opportunity for companies in developing countries to take part in the innovation concerning technological frontier. In order to show this thesis can be true, this article is based on the case study of Petrobrás, the Brazilian state-owned oil company, which has employed the resource of cooperative R&D to gain access to the new subsea boosting technology and to acquire a place in the vanguard of such technology. However, the catch-up occurs only when firms in developing countries actively take part in the innovation process and accomplish an efficient process of technological learning, which is reflected on the evolution of interactions with external partners. The experience of Petrobrás is analyzed emphasizing the technological learning process through the transformation in its agreements with external partners. We present three cases of subsea boosting technologies developed by Petrobrás together with a majority of foreign producers or institutes. The analysis of these experiences allows us to show that the learning process and the mastery of in-house processes were accompanied by a significant evolution in the agreements with external sources. Petrobrás passes on from the position of cosponsor to that of articulator of the innovation process in technological cooperation agreements. The article proposes an evolutionary sequence to analyze the company's learning process. The evolutionary trajectories are different in each case, but in all of them it was possible to prove the increasing commitment of Petrobrás to the innovation effort.     

我国《公司法》体系的重构——一种解释论的观点

1993年以来我国《公司法》虽经过多次修订、修改,但其体系结构并没有发生实质的变化。由于历史的原因,我国《公司法》最初是为现代企业制度的建立,而参酌各国公司立法经验,整合了有限责任公司法规范和股份公司法规范,采取“统分结合”的方式,形成了现行法上的规范体系。这一体系对法律解释和法律适用产生了困扰。各国现代公司法体系是19世纪自由竞争和工业经济的产物,是为大型公开公司的需求而设计的。多数国家以公开公司为基础,以封闭公司为例外,建立了公司法的体系,在立法形式上,采取这两类公司的分别立法或统一立法的模式。近年来,以英国和日本为代表的国家进行了公司法的改革,转变了原有的观念,以中小企业和封闭公司为基础构建一般规范,对公开公司作出例外规定或就某一事项作出单独规定。我国《公司法》的修订应顺应当代知识经济和数字经济的要求,在坚持现行法上将有限责任公司和股份有限公司统合于一部公司法典的基本模式的同时,建立从公司设立、存续到消灭等的同一事项中以具有封闭性质的中小公司为定位建立基础规范,对具有公开性质的大公司作例外或单独规范,以利于公司法的解释和适用。     

公司多边治理研究

公司多边治理是指在生产经营过程中的决策、执行与监督由公司物质资本、人力资本以及信贷资本的投入者共同进行治理。应对公司多边治理的理念、条件、类型、前提、结构等问题进行研究和构想 ,以实现公司治理制度的创新。     

Academic spin-offs, corporate spin-outs and company internal start-ups as technology transfer approach

As a rule, a technology transfer gap exists between research and development and the commercialisation of the results. This article investigates the role of new ventures for technology transfer from universities and research institutions as well as between or within companies to close this gap. Based on case studies in Germany and Switzerland, different examples of this technology transfer approach have been analysed. Academic spin-offs can help to transfer technology from universities and research institutions to industry especially if there is the need for additional funding to further develop the technology. Corporate spin-outs can be used for technology transfer between companies as an alternative to closing operations should these no longer fit into the parent organisation. Internal start-ups were identified as a new approach for company internal technology transfer from research departments to business units focused on commercial operations to overcome innovation barriers within companies.     

我国公司治理法律制度的弊端检讨及完善路径

我国的公司治理立法呈现出割裂性、矛盾性与过渡性的特征,问题并不在于立法模式的选择,而在于立法体例的设计不当。目前的最佳解决途径是改变既有的公司立法体例,抛弃有限责任公司和股份有限公司的传统分类,将公司分为开放型公司和封闭型公司来有针对性地设计公司治理制度。规则应进一步细化,仅仅对开放型公司强制规定公司内部治理制度,对封闭型公司则赋予更多的自主权,由股东在章程中自由进行公司组织机构的设置。通过立法体例的改革和规则的细化来满足私法对自由价值的追求和商主体对成本的控制,保障公司营利性目标的实现。     

The role of openness in explaining innovation performance in a regional context

We investigate the role of search strategy in shaping firms’ innovation performance. Firms use a wide range of external actors and sources to help them achieve and sustain innovation. In particular, the extension (breadth) and the relevance (depth) of such sources determine firms’ ability to extract and exploit knowledge and new ideas and, thus, to be innovative. Using a sample of firms in a regional context active in R&D, we built separate measures of breadth and depth for local (on a regional scale) and global (outside the regional context) search. This allows us to investigate whether localized or global knowledge spillovers are in place. We find that a wider set of partners increases coordination costs, while greater depth in search strategies contributes to innovation. We find that a more diversified search strategy at the local level (greater breadth of search) results in significant payoffs in terms of innovation, while diversifying the partnership with Italian partners has a smaller, although still positive, effect. In contrast, the benefits of depth of innovation are greatest at the global level. In addition, a broader set of information sources for R&D projects has a significant positive effect on innovation. Finally, firms that resort to R&D subsidies are less innovative.     

康复我国上市公司的四项施治方案论证——从公司治理结构视角观察

一股独大是导致我国上市公司诸种病症发生的直接根源之一 ,它妨碍着上市公司治理结构的完善。在目前的条件下采取以下救治方案 ,包括强化公司法的强制性规范 ,拆解国有大股东的股份 ,强制规定中小股东代表进入董事会 ,彻底改造监事会制度 ,有助于上市公司的康复和股东信心的恢复     

公司法律形态结构改革的走向

现行公司法上,公司法律形态存在着结构性问题。有限责任公司虽属封闭公司,但没有涵盖发起设立股份有限公司,而股份有限公司却容纳了公开公司和封闭性的发起设立股份有限公司。这种结构导致了封闭公司适用不同规则,公开性股份有限公司、封闭性股份有限公司适用同样的规则。公司法改革的取向是整合封闭公司资源,重塑有限责任公司形态,涵盖所有封闭公司,并使股份有限公司仅具有公开公司特点,不再涵盖发起设立的公司。在此基础上,同一法律形态的公司适用同样的规则,以利公司法现代化。同时,实现公司法体系一元化,外商投资有限责任公司与内资有限责任公司并轨,这是重塑有限责任公司形态的应有内涵。     

Regulating Political Donations by Companies: Challenges and Misconceptions

This paper analyses the regulation of company political donations in the UK. It argues that UK policy makers have failed to understand the nature of company donors and, consequently, that the UK Companies Act 2006 requirement for shareholder consent for company donations is not an effective solution to concerns about company donors. To this end, the paper presents a comprehensive empirical analysis of company donations to show that the vast majority of donor companies are closely held or owner‐managed entities where shareholder consent rules are ineffective. The paper highlights particular concerns that arise with donation by such companies and argues for a more accurate understanding of company donations in order to formulate effective policy responses to concerns about the role of company donors.     

The influence of functional and geographical diversity in collaboration on product innovation performance in SMEs

Collaboration in innovation is considered an effective strategy to overcome barriers to innovate in SMEs. However, resource constraints and risk of knowledge leakage force management in SMEs to be selective with whom and where to collaborate. Still little is known about interactions between types of partners and their geographical location. This paper sheds new light on the relation between functional and geographical diversity in innovation partners and new-to-the-market and new-to-the-firm innovation performance in SMEs. Using data from two waves (2008 and 2010) of the Community Innovation Survey for Belgium, a positive relation is found between market partners and innovation new-to-the-firm, and between science and global partners and innovation new-to-the-market. A larger diversity in type and in geographical spread of partners is found to be positively associated with innovation new-to-the-market. Cooperation with a diverse set of market partners enhances new-to-the-firm innovation. More diversity in science partners enhances the balance between new-to-the-firm and new-to-the-market innovation. Diversity among international partners enhances new-to-the-firm and new-to-the-market innovation, but not the balance between both. A cooperation strategy balancing functional with geographical partner diversity enhances the balance between new-to-the-firm versus new-to-the-market innovation.     

母子公司相互持股之法律规制

母子公司相互持股异于一般公司间的相互持股,其对传统公司法基本原则与具体制度产生了一定的冲击并导致了一系列法律问题。我国时下的公司法修改应秉承公司法的基本精神,原则上允许母子公司相互持股,但相应地,可以规定对母公司的直索责任并限制子公司反向持股的表决权。     

论资本监管与公司治理

公司作为独立交易主体的法律安排所产生的矛盾及其在控制条件下引发的公司与社会间的利益冲突 ,决定了公司治理问题的产生及内容。因此 ,在公司法意义上 ,公司治理的范畴不局限于公司机构的调整和改革 ,还应包括公司资本监管体系的改革和完善。这不仅具有理论意义 ,而且作为一种制度安排 ,资本监管在公司法框架内 ,为第三人、公司债权人及其他利益相关者提供了介入或影响公司治理的法律途径 ,从法律技术上解决了多边治理的制度安排问题     

公司侵权能力与侵权责任探讨

确定由公司承担侵权责任的两个关键性的问题,一是公司侵权行为的构成要件,即认定公司侵权行为的标准,以区分公司的侵权行为和对外代表公司的自然人的个人侵权行为,从而确定责任的最终承担者;二是如何科学地界定法人的责任和其内部成员的责任,以使责任主体适格,使真正的责任人受到追究,从而维护公司的利益。     

Innovating from big science research

Increasing scientific knowledge demands technological breakthroughs beyond industrial innovation activity. Using this as a basic motivation for R&D collaboration between industry and big science, the paper reports a systematic approach to exploit the technological treasures embedded in experimental basic research. Based on a systematic technology breakdown and mapping of each technological trajectory with possible application areas, the method enables one to direct joint efforts on the most prominent research topics. Yet, to achieve this active partners are needed to enter the innovative conversion process to turn scientific ambitions into commercial products. Some industrial companies practicing active R&D strategy have realized this, and the paper outlines some cases where the product innovation, is not the only motivation to enter big science collaboration. Putting all this together, and knowing the severe financial and political pressures the major scientific research labs are facing, the paper defines the practical procedures needed to initiate the process which eventually leads to better technological return from fundamental research.     

论公司独立人格的内在依据与制度需求

公司独立人格理论是公司制度存在与运行的基础,对于公司制度的立法选择与司法适用都具有重要价值。有必要通过公司独立人格的历史依据的考察,明确公司独立人格产生的实践性基础,并从多元视角剖析公司的本质属性,明确公司独立人格的理论逻辑。并可以基于此为独立公司人格的实现作关键的保障性制度设计:完善公司治理结构与公司内外部法律责任分配机制。     

论我国公司法立法结构的变革

公司法立法结构关乎公司法的立法质量、成本以及公司运行效率。我国采用统一公司法的立法模式,以有限责任公司为目标公司,并以股份有限公司为有限责任公司的衍生品。这种立法结构扭曲了股份有限公司和有限责任公司的相互关系,造成了在法律解释和适用上的诸多困难。在未来修改公司法时,我国应以股份有限公司为目标公司,以有限责任公司为其例外,重新构建公司法的结构。     

一人公司对传统公司法的冲击

自２０世纪８０年代开始，许多国家顺应现代市场经济发展的客观需要，先后在公司法中确立了一人公司的合法地位。但是，一人公司的出现与发展，对传统的公司社团性理念以及公司法律制度产生了极大的冲击，使人们不得不重新思考公司制度的本质特征。本文认为，传统的公司理念对公司立法承认一人公司不利，应强调公司的本质特征为“公司是独立于其出资人的法人”，而不在于其社团性。但我们必须正视一人公司的弊端，因为一人股东确实打破了复数股东的相互制衡性。因此，应在公司法确立一人公司的合法地位同时，强化对一人公司运行机制的平衡控制。如强化公司资本制度，严格资本充实规则；在公司登记中强化公示主义与要式主义的适用；在法定的有限范围内对一人股东适用无限责任；特定场合下适用揭开公司面纱的制度等。     

公司重组之上市公司收购法律透视

公司重组实质上是从法律角度谈资产重组 ,也即用法律来约束和规范公司重组中所涉及的各方利益主体及其行为。在现阶段 ,我国主要的公司重组方式有国有企业股份制改造、公司收购、公司的合并与分立、公司间的相互持股参股、资产置换、增资扩股等等。在这些重组过程中 ,法律所起的作用不言自明。本文将具体分析上市公司收购这种重组方式 ,结合我国证券法的有关规定 ,对其间所涉及的相关法律问题做出阐述 ,并提出自己对相关立法和实践的完善意见     

我国公司制运作的法律思考

公司的高效运行是我国市场经济发展的基础 ,建立科学的公司法律制度是公司高效运行的法律保障。然而检讨我国现行公司立法却不难发现 ,公司立法所确立的许多法律制度与公司的运作机制存在错位 ,并在很大程度上阻碍着我国公司的发展。为此公司立法必须从根本上确立公司所有权制度和科学的产权结构、完善公司治理制度和激励机制。     

论我国一人公司法律制度的完善

传统公司法理论以缺乏团体人格为主要理由,否认一人公司的法律地位。然而,一人公司以自身的特点赢得了投资者的关注,并被许多国家认可。一人公司已在实践中对我国《公司法》提出挑战,为了中国企业制度的科学完善,我国应从法律上对一人公司进行规制。