Foundation Ownership and Financial Performance: Do Companies Need Owners?

A curious ownership structure is found in Northern Europe—foundations that own and operate business companies. The foundations are non-profit entities, they have no members and no owners, and they cannot be dissolved. In many cases, these entities control more than 50% of the votes in successful international companies. Obviously, this structure completely blocks the market for corporate control, but it also violates other basic principles of agency theory and corporate finance. Nevertheless, we present evidence that a sample of foundation-owned companies listed on the Copenhagen Stock Exchange are at least as efficient as other listed companies in terms of risk adjusted stock returns, accounting returns and Tobins Q. Thus, they question whether profit-seeking ownership is a necessary condition for competitive enterprise.JEL Classification: D23, G34, L31     

社会转型与中国乡村权力结构研究--传统文化、乡镇企业和乡政村治

党的十一届三中全会以来,我国农村的改革促进了乡村社会的转型,传统文化的复兴、乡镇企业的崛起、乡政村治的建立等等导致了乡村权力结构中包含的具有各自利益需求和交换关系的主体--国家、基层政府、社区组织、乡镇企业、村民等等--不同身份特征的获得,并决定了他们有可能占有的资源及其相互的利益关联.对11省14个村庄的调查和比较,再现了转型期乡村权力结构的调整和重构.     

“网络援助”系统工程的可行性探讨

首次提出了"网络援助"概念.网络援助系统的出现,可以以第三方介入的形式来帮助计算机应用人员缓解信息技术快速发展带来的压力,提高计算机应用人员的应用能力,从而缩小"技术鸿沟",秉持"普遍性服务"和"公平近用"的理念,挖掘信息技术的应用和发展潜力,以人为本,推动信息技术的普及.     

Precedent Externality, Network Effect, and the Possible Inefficiency of the Evolution of Laws

Using the traditional scenario of tort conflict as an example, I argue that the marginal precautionary costs of injurers and victims are not constant, as was assumed by most previous researchers. The precedent of a liability rule has some natural externality on the precaution technology, and hence marginal cost, faced by future agents involved in torts. The adoption of legal rules therefore has a network effect, meaning that the present prevalent adoption of one rule increases the probability of its future adoption. Treating the dynamic evolution of legal rules as a random process, we are able to apply an established result in the literature of network economies to conclude the path-dependence, non-predictability, and potential inefficiency concerning the final legal rule to which the dynamics converge.     

代表人民利益与“新的社会阶层”

中国共产党始终代表中国最广大人民的根本利益,当然包括要代表"新的社会阶层"的利益,新的社会阶层同样是人民群众不可分割的一部分,因而必须在理论和现实的统一上对"新的社会阶层"的定性、定位问题作出科学的判断与回答。     

践行“三个代表”坚持执政为民

贯彻“三个代表”要求,本质在坚持执政为民。执政为民从根本上讲就是要求我们党的一切工作都要以人民群众的根本利益为出发点和落脚点,以最广大人民的支持拥护为最高标准。     

城市打工妹的生存体验与社会支持网络研究--以北京市"打工妹之家"会员为个案

作者在文中通过对“打工妹之家”会员的个案描述与分析,叙述了打工妹离开农村来到城市后的经历,以及她们在城市中作为边缘人的生存状况和体验。她们不愿意再回到农村,在城市里逐渐建立起新的社会支持网络。改善打工妹的生存状况,是维护社会公平题中应有之义。     

网络中的知识产权保护

本文以分析网络著作权保护的司法态势为切入口 ,从研究中国知识产权保护的现状出发 ,在论证“邻接权吞并著作权”倾向的基点上 ,探讨了我国现行著作权法对网络知识产权保护的局限 ,最后通过对美国及我国香港知识产权保护的比较研究 ,提出我国网络知识产权保护的意见及建议。     

从社会经济形态转变看网络经济特征

网络经济作为一种新的经济形态,并不只是单纯的电子技术革新,互联网技术及其对经济生活的深刻影响,也不是简单的"触网",必须从社会形态和经济生活的合理性中寻求对网络经济的全面理解.本文从生产与消费的关系入手寻找网络经济,继而就网络经济的涵义及特征进行探讨.     

Private Policing in Context

This article considers the development, growth and significance of private policing in a wider context. Section one suggests that the rebirth of private policing is associated with - and, in effect, demands - a change in the conceptual framework with which policing is analysed. While section one addresses the conceptual context of private policing, section two examines its theoretical context by considering various explanations for the post-war growth of commercial security. Moving from specific to general accounts, it is suggested that two explanations - one based upon sociological accounts of the development of modern societies, the other on genealogical accounts of developing mentalities - provide a crucial context for understanding contemporary changes in policing and governance. In the next section, two of these changes - the growing influence of risk-based policing and the increasing significance of diverse patterns of governance - are considered in the context of the fragmented forms of security provision (commercial, municipal, civil and state policing) which are prevalent today. A short concluding section offers some final thoughts on how these arguments impact on the governance of policing. One of the implications contained in this article is that the re-emergence of private policing needs to be considered not only as a problem, but also as an opportunity to identify and address critical questions of contemporary governance.