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Research on the Impact Factors of Organizational Inertia

On 15/09/2013, in Management, by rain

Organizational inertia is the nature of the organization, it is the tendency of keeping the original or known behavior and habit to adapt to changing environment in the process of the formation, development and transformation on the organization. Organization inertia is relative to the changing environment, “Not easy to change” is its essential attribute. The formation of the organizational inertia is a dynamic process of accumulation. In the modern society, as the increasing uncertain factors in the environment, the organizational inertia has been gradually become the main factor on conditioning the Enterprise’s development. The research of organizational inertia has got wide attention of the foreign scholars, but in the domestic is just in the initial stage. Scholars in the different angles have the deep analysis on the genesis of organizational inertia, but the research on the impact factors of organizational inertia have not a complete theoretical system, the empirical study is hardly any.Based on domestic and foreign scholars’ study, through staff interviews, author obtained eight impact factors of organizational inertia, namely:organizational own factors, organizational staff, organizational resources, organizational structure, organizational mechanism, organizational ability, organizational culture, organizational external environment. At the same time, the paper compiles questionnaire on the impact factors of organizational inertia. This questionnaire includes three parts:the first part is the Basic information; the second part is the options on the impact factors of organizational inertia with twenty-five options; the third part is the overall perception of the questionnaire with five options.The paper has completed empirical study of Xi’an owned enterprises. The data analysis results prove that the questionnaire has a good reliability and validity. The impact factor of owned enterprises’ organizational inertia is explored by explored factor analysis. Through analyzing and discussing the results, the eight factors have significant impact on owned enterprises’ organizational inertia. The organizational structure of owned enterprises is the most significant factor for organizational inertia. The bigger of the workers and the assets, the longer of the founded fixed number of year, the enterprises have the stronger organizational inertia.In the end of the paper, five suggestions are given based on the study above:establishing innovative Enterprise culture, building a strong leadership team, cultivating the crisis consciousness, strengthening Enterprise crisis Management, designing the scientific structure of organization, strengthening the Management of the organizational mechanism.

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An Empirical Analysis on the Influencing Factors of Choosing M&A Targets

On 15/09/2013, in Management, by rain

As an effective means of integration of resources, Merger and Acquisition (M&A) can help to realize Enterprise’s rapid development, playing an important role in the strategy of Enterprise development and industrial upgrade. The most important factor of M&A is to choose the right targets Enterprise, so it will play important theoretical significance and application value for exploring the factors that affect choosing M&A target enterprise.In recent years, China’s pharmaceutical industry has developed rapidly and become one of the fastest-growing sectors, with huge potential for development. However, China’s pharmaceutical enterprise has the small scale, large quantity, the low level of overall benefits, and weak R&D capability. To change this situation, it is practical to upgrade pharmaceutical industrial structure by M&As. Along with deepening of our stock market’s reform and fast development of capital market, especially since the dual-rights reform, a large number of M&As took place in China’s pharmaceutical enterprises. So it is necessary to conduct analysis and research on factors influencing M&A target choice in China’s pharmaceutical enterprises.On the base of analyzing the literatures about motivations and target at home and abroad, combined with the actual situation of the Chinese pharmaceutical industry, this paper used normative research and empirical research to expound factors influencing M&A target choice. The study employed a sample of target listed companies from pharmaceutical industry in which M&A occurred from2007to2011. and used means of difference analysis, factor analysis and Logistic regression. The conclusion provides a solid experimental support on the replacement of inefficient Management hypothesis, the enterprise scale hypothesis, the shares decentralization hypothesis, and provides no support on the financial leverage hypothesis, the enterprise value hypothesis, the intangible assets hypothesis, the growth capability-financial ability of expansion hypothesis. The Logistic regression model passes Hosmer-Lemeshow test. And its accuracy of prediction arrives at70.7%which meets the expected accuracy level on the whole. At last, combining the conclusion of the empirical research, this article puts forward some policy suggestion and corresponding strategy of pharmaceutical enterprises.

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A Study on the Effects of Listed Corporate Governance to Audit Quality

On 15/09/2013, in Management, by rain

In twenty-first century, while the global economy developes rapidly, the phenomenons ofdistorting accounting information, being out of internal control,and suffering huge losses of nationaleconomy.emerge frequently. Many listed companies’ accounting information distorts and their auditquality is low.The Basic reason for that lies in governance structure of the listed company havingproblem. At the present stage of our country, the legal constraints and governance structure of listedcompany is not perfect. And the motives of false financial report is remain strong, the impact causedby issuing different Management mode of the audit has aroused great concern.Therefore, it is greatsignificance to research and reveal the problem which factors impact listed companies’ audit qualityfrom the perspective of empirical analysis, to mine the essential reason for Listed company’s auditquality being low, to impel the listed company on the development road of benign loop.This paper firstly defines the concept of corporate governance’s structure and audit quality. Onthis basis, choose ownership structure and board characteristics as listed corporate governancecharacteristics variables, and make controllable accrued profit absolute value,which sloved byJones model using accruals method, as the measure of audit quality standard. Selects data from thecompanies listed in A stock market in2009and2010, establishes a regression model, makesempirical research on the influence that the corporate governance structure effect on the auditquality. The results show that, the nature of equity and the audit quality is negatively related. So itis obvious to improve audit quality by reducing the ratio of state-owned shares in Chinese capitalmarket. Audit quality relates with the number of directors, the proportion of independent directors,syncreticing board chairman and general manager’s duty, but the correlation is not obvious. Therelationship between the three and audit quality also constrained by external factors.

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The Performance Research on Mergers and Acquisitions of Listed Companies in China

On 13/09/2013, in Management, by rain

Through the means of M&A, firms expanded their operations, concentrated capital, optimized the allocation of resources, and achieved the goal of external growth. Merger and Acquisition (M&A) is an important method to enlarge and improve themselves for companies. In order to compete with other countries, especially developed countries, China must have its domestic companies enlarged and strengthened, so it is urgent for China to form competitive large multinational corporations through drawing on the Western countries’experience and using the tactics of M&A. Currently,the researches on M&A are fruitful in China, but compared with developed countries’,we find there are still many problems to be solved not only in practice but also in theory. Therefore, obviously, the research into M&A is very important and pressing.Currently, a large number of M&A activities emerging at home and abroad rapidly expand the scale of the enterprises beyond all doubt. But whether it is true to increase revenue for the shareholders, to create benefits for companies, to bring values for the society? In the past30years, the mature markets of western carry out a large number of academic research on the effects of M&A. But in general there is a big uncertainty about the value effect of acquisitions. At present China is still in transition economy period, the development of M&A market is particularly important. Therefor it is required to strengthen the research on M&A activity. One of the key on study is whether the M&A creates value.The research on M&A performance is always a hot spot in M&A theory, but still now, Researchers have not reach a consensus in M&A performance. Because of our particular Economic and Social environmen, the cause of M&A is complicated,so M&A performance is not an incontestable conclusion.It’s evident for us that examining and analyzing the M&A performance of listed companies in China is necessary.On the basis of summarizing empirical studies about domestic and international mergers and acquisitions, this paper sorts out109events and109sample companies on Shanghai and Shenzhen M&A events in2008.Using Principal component analysis, samples of listed companies before and after mergers and acquisitions on a total of four years (2007-2010) were carried out the financial index analysis and the empirical testing, then obtained the composite score for each sample every year. Through comparison of the composite scores, I draw the following conclusions:the average of synthetical scores in the merger year2008have significantly increased comparing to the pre-merger year2007; One year after the merger in2009,the scores have significantly increased comparing to the merger year2008; the second year after merger in2010, the average synthetical scores decreased,but still significantly higher than pre-merger year and merger year. Indicating that the sample companies to improve business performance through mergers and acquisitions, gaining synergies may be a short-term effect, and did not allow the full advantages of M&A reflected, the phenomenon of purpose for financial statements is obvious. Overall to some extent M&A can improve companies profitability and asset Management capabilities.Through the study of M&A, phenomenons like delayed reaction and overreaction reflect China’s securities market is not mature, the market speculativeness is strong, low maturity of the characteristics of emerging markets. Based on the results of this empirical study and the view of many scholars, combined with the development of the Western stock market history and development of China’s securities market, this paper views that the current improving the performance of listed companies M&A in China can be considered in two ways:one proceeds from the market rules establishment, improvement and supervision; the other hand proceeds from the concept transformation and improving the quality of the government, listed companies, investors, market intermediaries, the media and other market participants. Specifically put forward four targeted proposals:First, improving the legal system, regulate M&A behavior; Second, optimize the design of mergers and acquisitions; Third, do all we can to develop M&A intermediaries; Fourth,strengthen the M&A integration; Fifth, give full play to the supervisory role of the media to reduce the degree of information asymmetry; Sixth, standardize the government action in mergers and acquisitions.

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Empirical Research on the Influencing Factors of Supply Chain Performance and Their Relationships

On 13/09/2013, in Management, by rain

Supply chain Management has played an important role in the fierce market competition today, and supply chain performance is a reflection of total operation capacity. Every Enterprise comes to pay attention to improving supply chain performance from all aspects, and in this way enhances its competitiveness.Existing studies focus more on theoretical research of supply chain performance and establishment of evaluation index system, but less on influencing factors and their inner influencing mechanism. This paper considers major factors that supporting supply chain operation from the point of material flow, information flow and commercial flow and ignores the uncontrollable ones, taking environments factors as examples. Based on the characters of supply chain, this paper introduces the concept “logistics integration capability” and explores the relationships among and involving information sharing, cooperation. This paper aims to solve the problems including:(1) What are the main influencing factors for supply chain performance and what is the macroscopic system?(2) How is the influencing path diagram from factors to supply chain performance and among the factors like?(3) What kind of role does the logistics integration capability play in the influencing factors? Does it affected by other control variables?According to the Basic paradigm of empirical research, using the method of SEM (structural equation modeling), this paper clarified the relationships among cooperation relationships, information sharing, logistics integration capability and supply chain performance based on data collection and data analysis for manufacturing enterprises of China. The results shows that supply chain cooperation and information sharing both have a positive effect on supply chain logistics integration and have an indirect effect on supply chain total performance through the function of logistics integration; supply chain information sharing presents a positive effect on the performance of a single node Enterprise; enterprise size plays regulating function on the relationship between logistics integration and supply chain performance.This paper confirms the testing results once again by corresponding case analysis, and also gives some Management advices.

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An Empirical Study on the Influencing Factors of Knowledge Transfer Performance in It Outsourcing Based on Hangzhou Region

On 11/09/2013, in Management, by rain

Nowadays,the global information has become the major trend of the developmentof human society. With the development of information level, IT outsourcing as theresource strategy boosts increasingly at the aspects of Enterprise informationconstruction. IT outsourcing will reduce the cost and improve the core competence.Twenty-first Century is the era of knowledge economy. Knowledge has been graduallyreplacing traditional factors of production such as capital, labor and land to be the chiefresource. Obtaining and using knowledge is one of the ways to gain and keepcompetitive advantages.In information age and knowledge-driven society today, IT outsourcing andknowledge transfer are the hot topics. IT outsourcing industry is knowledge-intensiveindustry, successful knowledge transfer in the IT outsourcing process is one of the keyfactors affecting outsourcing success. How to conduct effective knowledge transfer hasbecome a research focus in IT outsourcing. Consequently, the article is based on the IToutsourcing industry. We try to identify the factors that influence the knowledge transferbetween the contractors and supply the theoretic support for the domestic IToutsourcing companies to acquire knowledge in the developed countries. Based ontheory of IT outsourcing and knowledge method, this thesis makes deep research onknowledge transfer efficiency in IT outsourcing. The contents of this article mainlyinclude: Firstly, This article starts with review of abundant literature. It reviews IToutsourcing, knowledge transfer and knowledge transfer in IT outsourcing, summarizesthe concepts, motivation and significance of research of IT outsourcing. It alsosummarizes the concepts, type, models,performance indexes and the factors affectingthe effectiveness of knowledge transfer performance of knowledge transfer, the contentand the domestic and foreign research of knowledge transfer in IT outsourcing, thenpoints out the deficiency of previous researches according to the status quo of previousresearches.Secondly, On the basis of theoretical analysis, the article combines with thecharacteristics of knowledge transfer in IT outsourcing and according toCummings&Teng model and the factors affecting the effectiveness of knowledgetransfer performance theory research to determine the influence factors of knowledgetransfer in IT outsourcing. They are knowledge characteristics, IT contracteecharacteristics, IT contractor characteristics and situational factors. The knowledgecharacteristics include tacit, ambiguity and complexity; IT contractee characteristicsinclude transfer capability, reliability and transfer intent; IT contractor characteristicsinclude learning intent, absorptive motivation and absorptive capability; Situationalfactors include organizational support and Environmental support. Then it joins the scaleof staff and assets as control variables to study. Finally we draw the research model andhypotheses.Thirdly, According to the research model and hypotheses,the article designs questionnaire and uses questionnaire method to investigate within Hangzhou range.Based on168valid samples, the paper takes an analysis on data by using the statisticalanalysis software SPSS17.0which in details included descriptive statistics reliabilityand validity analysis, factor analysis, correlation and regression analysis.According to the result of questionnaire survey and data analysis, several importantresearch results are drawn and the model and hypotheses are adjusted. The researchresults and previously assumed hypotheses is basically the same, but there are also somesmall change.Firstly,the same is:both ambiguity and tacit are significantly negative correlationwith transfer performance; transfer capability, reliability and transfer intent aresignificantly positive correlation with transfer performance; learning intent, absorptivemotivation and absorptive capability are significantly positive correlation with transferperformance; both organizational support and Environmental support are significantlypositive correlation with transfer performance.Secondly,the change is:there is no significantly correlation between complexityand transfer performance; there is no notable affecting relation between scale of staffand transfer performance.In addition, according to the conclusion of the research, combined with IToutsourcing business practice, the article provides advices for improving knowledgetransfer performance. Finally the paper summarizes the deficiency of the research andthe prospect.

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Comparative Analysis on the Macro Performance of the “Brics”‘s Foreign Direct Investment

On 11/09/2013, in Finance, by rain

The five countries are the rapid Economic growth in emerging countries.and the total land area being nearly30%of the world land.population being42%of the world population.In2010,the GDP accounted for about18%of the world.and the total volume of trade accounted for15%of world.The five countries in the world economy plays an increasingly important role.also will become the world’s Economic indicator.In the the global economy recovery process,the five countries played a role which can not be ignored.At present,many scholars study shows.the foreign direct Investment has a closely relationship in Economic development with host countries, such as in improving the industrial structure.the Investment environment and other aspects.The “brics” is a popular choice for international capital and the future development is inseparable from the support of international capital.So the research that comparative analysis of the “brics” using FDI to improve national macroeconomic performance has the extremely important practical significance.This article mainly starts from a comparative study of using of FDI scale, potential.performance empirical analysis.policy and other aspects.The study found that:in Russian,the most prominent advantages mainly lies in investment fast growth, great potential,good environment; Chinese investment is relatively stable.scale is large, fluctuation is small.and the Investment area is relatively concentration:India’s attraction of investment grows rapidly.but fluctuates greatly.though it is less competitive,but the quality of investment is good.It has a big space to rise in the future. Brazil has the largest investmenl,and rule of law is perfect, but the growth rate is low, and the fluctuation is more intense;South Africa’s attraction of investment is the smallest,and the fluctuation is strong,but investment environment and policies are perfect.Overall.five countries in investment environment.policy,laws and regulations and other aspects have the gap with the developed countries.therefore, in Education, technology.public facilities and other aspects needed to be further strengthened. Among five countries,India’s and Russia’s national condition is relatively close with China,and the Brazil has the advantage of backwardness.Thus,in order to enable China in a new round of competition learn from each other,to improve the overall quality and ability to attract FDI.this article uses the performance index and potential indexto analysis difference in “brics”.Also this article have used empirical data from research,policies and regulations,industry distribution,regional distribution of FDI comparison of five aspects.hoping that China will further improve the utilization and quality of foreign direct investment efficiency.

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Empirical Study on Related Party Transactions and the Motives in Chinese Listed Companies

On 10/09/2013, in Management, by rain

In our country the earnings Management behavior of listed companies has the universal existence, by whitewashing accounting information earnings Management, accounting information can not really reflect the financial position and operating results of enterprises. Serious distortion of accounting information, damage the interests of users of accounting information, to optimize the allocation of Social resources is not conducive to effect also exist, including the related party transaction because of the unique concealment, which makes it become the main tool of earnings Management, based on this, this article on related party transactions of listed companies and earnings management relationship between research.This article from the theory of related parties and related earnings management are studied, that related party transaction is a special trade form, which has obvious bidirectional characteristic, from the positive point of view, because the associated party is built on mutual trust and relational view, the transaction can reduce information cost and management cost, to achieve the maximization of Enterprise value is advantageous. On the negative side, the related party transaction although as allowed by the law, but through the control rights between related parties may influence, and transactions in the establishment of a fair basis. At the same time on the listed companies in China the use of related party transactions earnings management motivation and means are analyzed.This paper selects756A shares of Listed Companies in2010was issued the standard opinion of listed companies as samples, combined with the related party transactions of listed companies earnings management motivation, means, the related party transactions of listed companies earnings management empirical analysis, from the different motivation of earnings management on the related party transaction monitor, improve the related party transactions related accounting standards, the listed companies improve internal governance mechanism, strengthen the intermediaries and the management to strengthen the accountant occupation morals system construction and puts forward countermeasure to think.

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A Performance Study of Chengdu’s Aquaculture Development Plan

On 10/09/2013, in Agriculture, by rain

Aquaculture is an important industry, which can solve farmers’employment and help them to attain prosperity; it plays an important role in providing protein for people, abounding the vegetable-basket and adjusting people’s diet structure. With the development of economy and society and improvement of living standard, the demand for aquatic products boosts gradually; therefore, promoting and accelerating the development of aquaculture is becoming more urgent.This paper takes the implement of Chengdu’s aquaculture development plan from2005to2007as example, it introduces the background, issuance, and implement of the aquaculture development plan and the supporting measures in the course of implement, also describes the result of the plan. By analyzing the role three years development plan played in the development of Chengdu’s aquaculture, it evaluates the actual result of the three years aquaculture development; and combining the advantages and the bottleneck of Chengdu’s aquaculture development, it based on the analysis, concludes and sorts out the countermeasures and advices for making the aquaculture development plan of Chengdu in the future.

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Credit Risk Analysis and Empirical Study during Developing Village Banks

On 10/09/2013, in Finance, by rain

The gap between the supply and the demand of China’s rural financial market is enormous. In orderto increase the supply ability of rural finance, the China Banking Regulatory Commission issued aseries of policies and measures to encourage the development of new-type rural financial institutions,which is mainly in the form of village banks. The village bank Implement modern enterprisemanagement mode, focus on the “agriculture, rural areas and peasantry” personal and Enterprise.Compared with other large commercial banks, the village banks suffer more prominent credit risks dueto their small scales which result in the high cost of operating, difficulty of controlling the use of theloans and etc. The purpose of this study is to research how to prevent and control risks, and how toachieve sustainable development, to provide feasible proposals for the village banks’ credit risksprevention.The research is carried out based on the theme of village bank development and credit risksresearch, which includes:1. Characteristics, current status and problems of village banks;2. Villagebank’s credit risks and cause analysis;3. Measurement of village bank’s credit risks;4. An empiricalstudy of the village bank’s risks measurement using the micro-enterprises’ loan data from the Samplebank during2010-2011.The research lead to the conclusions:1. The imbalance between the supply and the demand in ruralfinancial market is the root cause of village banks’ emerging, and the village bank is a viable method todeal with the contradiction between the supply and the demand of rural finance and a valid extension ofthe commercial banks in rural markets.2. Credit risks is the most severe problem in the sustainabledevelopment of village bank. Lack of collateral, the characteristics of high risk, information asymmetryand moral hazard problem are the causes of the credit risks of the village banks.3. CreditRisk+is themost suitable models for rural banks’ credit risks measurement, considering the availability ofagricultural loan data and capacity to meet the model assumptions.4.Empirical studies have shown thatoverall development trend of rural banks is good and the means of risk control referred tonon-Agricultural and part of the agriculture-related loans is very effective. Only part of theagriculture-related lending, especially the lending aiming to support and benefit agriculture, rural areasand peasantry need to enhance their ability of risk control.Based on the above research, policy recommendations are:1. It contributes to long-termdevelopment of rural banks to promote rural financial reform and to improve rural financial status quo.2. Establish a sound scientific credit record and evaluation system in the rural areas in a timely manner.3. In some conventional projects, the village banks need to operate it with the real attitude of enterprisesand less government intervention.4. In the project about supporting and benefiting agriculture issues,the authorities should increase subsidies of the Agricultural loan and therefore reduce the bank risks.