Empirical Study on Corporate Ownership Structure, Performance and Governance

Based on the samples of 171 listed companies in Shenzhen and Shanghai stock markets, the paper mainly focuses on the relation between the corporate ownership structure and corporate performance. The result shows that there are negative correlation between state ownership and corporate performance, and positive correlation between legal person ownership and corporate value, there are better corporate value in the higher centralized ownership company, and the corporate value will be improved when the biggest shareholder have proper shares.     

Research of Investment and Cash Flow Constrain Under Ownership Concentration

This article summarizes the theory achievements,arguments,the investment and ownership concentration model which studied in investment-cash flow and the stockholder's rights structure questions.The financing restraint is explained.The special social stratum shareholder is elaborated which influences relation between investment and internal cash flow by the financing restraint existing in the enterprise,the management opportunism hypothesis and the information assymetrical theory separately.Finally the authors induce and study the real diagnosis model of the supposition(above).The model is important for the empirical study of ownership structure influencing to corporate investment.     

Analysis of the Impact of Ownership Structure on the External Corporate Governance

Taking-over market, the main component of external corporate governance, affects the performance of corporate governance significantly. Through taking-over activities between companies, the market assumes its role in the governance mechanism. This paper analyzes the taking-over market of listed company in China from the view of ownership structure. By looking into the indirect taking-over activities between companies, the authors research the impact of specific ownership structure on the effectiveness of external corporate governance deriving from such activities. It is concluded that innovation of ownership structure is the key for taking-over market to take its role in external corporate governance more effectively.     

Empirical Study on Corporate Governance and Voluntary Disclosure in China

This paper examines the impact of ownership structure and board composition on voluntary disclosure. Ownership structure is characterized by first ownership, and board composition is proxied by the percentage of independent directors. Voluntary disclosure is measured by an aggregated disclosure score of non-financial and financial information. Our results show that both lower and higher first ownership are associated with increased disclosure. The number,not percentage,of independent directors improve corporate disclosure. We also find that larger firms had greater disclosure.     

Analysis on the Ownership Structures of American Listed Companies and Its Enlightenments

The authors investigate the ownership structures about American stock corporations and think that the successful experiences based on institutional arrangements for the ownership structures of American listed companies and the way to carry out ownership authorities will give some following enlightenments for Chinese stock companies to perfect their ownership structures:Let all kinds of equity ownerships tradable completely,some ownership diffused or concentrated should be determined by market.To decentralize and transform the state-owned ownership through in the competitive industries,and the ownerships should be mainly holded among legal investors,strategic investors, individuals,employees,managers,foreign investors. The following results are realized to develop perfect law and regulate systems with the function enhancing fair competition and make ownership structure,corporate governance mechanism,all markets,corporate performance interact profitably.     

Empirical Analysis of Relationship Between Corporate Diversification and Corporate Performance

Based on the relevant literatures from domestic and abroad, the paper empirically tests the relationship between corporate diversification and corporate performance. The results show that there is a negative relationship between diversification and performance in Chinese listed companies, but the significance of relationship is different each year.     

Empirical Analysis of Corporate Intellectual Capital and Corporate Performance

The principal purpose of this study is to investigate the association between the efficiency of value-added by a major components of a firm's resource (human capital,physical capital and structural capital) and corporate performance (profitability).Data consists of 30 firms are drown from computer area.Empirical analysis is conducted with correlation and linear multiple regression analysis.Findings from empirical analysis indicate that association between physical capital and profitability is statistically significant,there is a positive relation between human capital and firm performance,but not statistically significant.Accordingly, we analyse the factors that probably affect the findings.     

Study on Managerial Mode of Urban Infrastructure Projects

In this paper, the current situation of the management of urban infrastructure construction projects invested by government and the weakness of its managerial mode are briefly analyzed. The authors point out that it is a practical choice to improve the management by innovating in the managerial mode and establishing specialized organizations. Employing basic methods of science of organization and management, referring to the experience of developed countries, a new mode named "Works Bureau" is suggested. Two operational models based on financial and non-financial requirement of government projects are demonstrated in detail.     

地权认知、资源禀赋、信任与农地流转的实证研究

为研究影响农地流转的因素,2009—2011年,利用实地调查和计量研究方法,对3次在贵州5个县调查取得的404户农户的资料进行实证分析。结果表明影响农地流转的因素至少可以从3个维度进行探讨,即一是农户对地权的认知,二是资源禀赋,三是信任。农户对地权的认知和农户的资源禀赋影响农地流转意愿,信任不仅影响农户流转农地时对契约的选择,而且影响农地能否顺利流转。     

A Simulative Method of Investment Decision in Real Estate Development

This paper has simulated major risk factors and estimation indexes which influence on project investment in real estate development. It confirms the scope of risk factors by reaching it's reliability, The problems are resolved in obtaining values of factors and it's probabilistic distributing;the limitation is over come in estimating the income of investment by a point-estimation.An impersonal and reliable method of investment decision is provided in real estate development, and the result is ideal in practive test.     

Investment Model for Expansion Planning of Electric Generating Systems under Uncertainty

In this paper, traditional investment model for expansion planning of electric generating system is modified, the investment model for expansion planning of electric generating system under uncertainty is modeled and the method of calculating option value of waiting is discussed.     

Appraisal Model of Investment Decision and Its Application

Through building the appraisal model of investment chance and relative appraisal index, the best investment chance could be chosen by systematic analysis scientifically and objectively, so as to avoid blind investment and ensure the development of national economy and the interests of investors.     

以投资为目的的森林资源资产评估问题探讨

随着以投资为目的的森林资源资产评估业务日益增多,许多相关的理论问题亟需解决。通过对该目的下的价值类型、评估方法、评估参数等问题研究发现:价值类型的选择主要取决于委托者的利益诉求,同时要考虑现实市场条件的限制,具体可选类型包括市场价值类型与投资价值类型;评估方法的选择要与评估目的、价值类型相适应。当选择市场价值类型时,市场比较法应该是评估首选。当选择投资价值类型时,如果委托方是财务投资者,收益现值法是评估首选,如果委托方是战略投资者,公式P=Va+S×K应是评估首选;评估参数的选择,要与评估方法相一致,市场法的关键参数是可比的参照对象,收益现值法应用的关键参数是投资收益率,公式P=Va+S×K应用的关键参数是收益分成率K。以投资为目的的森林资源资产评估中,还要考虑森林采伐限额及其他相关政策的影响。     

Impacts of the Control Right on the Corporate Governance:Evidence from China

Company control right is a key question in corporate governance.This paper selects ROE and Tobin's Q as proxy variables of the corporate governance's effects,classifises the sample into two groups according to their concentration in control right,aims to revealing the influences of the difference in control right on the corporate governance by empirical analysis.The results show: ROE is negative correlative with the concentration of control right,in the high concentration sample,ROE is positive correlative with the net asset per share when the control right is high concentrate,and ROE is positive correlative with size of broad when the control right is nonconcentrate.     

An Empirical Research on The Relationship Between Board of Directors Governance and Corporate Performance of Chinese Public Companies

Board of directors is an important component part of corporate governance. As a governance mechanism, we empirically study relationship among the scale of the board of directors, the structure of the board of directors and the duality leadership structure with corporate performance in Chinese public companies. The result shows that the scale of the board of the directors is smaller, the performance is better. With the ownership structure changes better, the structure of the board of the directors will change better and promotes the performance. The duality leadership structure doesn't affect the corporate performance. The fundamental method for the governance effectiveness of the Board is to set up the reasonable ownership structure and the marketing mechanism for occurrences in human.     

Relationship Between Ownership Structures and Performance inChinese Electronic Enterprises

This paper investigates the relationship between ownership structure and corporate performance in Chinese electronic enterprises systematically, using ROA as the dependent variable while ownership concentration and structure as the explanatory variables. The empirical results show that:Chinese electronic enterprises' strength is not balanced and their ownership structure is very concentrated. Each of state ownership,legal person ownership and individual ownership has no significant effect on firm performance.     

The Cost Control of Government Investment Project in the Design Stage

The design stage is the key part in the control of construction cost,but,there is always short of strength of cost control in design phase. In this paper,the characteristics of construction design stage are discussed, and five methods for construction cost control in design phase are put forward, which inspire us further to strengthen control and management in design phase as a governmental policy and ensure feasible technique and reasonable economy designs.     

农民土地上的植物遗传资源所有权研究

为保护中国农民利益分享的权利,并为加入《粮食和农业植物遗传资源国际条约》做好法律上的准备,文章分析了遗传资源的国家主权与产权、自然资源与农民土地上的植物遗传资源的不同,并研究了美国、欧盟和印度关于农民土地上的植物遗传资源所有权的规定,指出对植物遗传资源的主权不能替代植物遗传资源的所有权制度安排,农民（社区）土地上的植物遗传资源应归农民或社区所有,农民、社区对其土地上的植物遗传资源权利应该得到国家的承认。     

Corporate Governance of Technological Alliances of Enterprise

Technological alliance of enterprise is an organization of technology innovation. The proper selection of corporate governance of technological alliance can provide advantage with cost-down, and also it is the decisive factor of success for technological alliance. Based on the comparatively research of the diversity in the structure of corporate ownership and organization, control right distribution, relationship of partners, etc, this paper indicates that the corporate governance of technological alliance is cooperation relationship of the knowledge capital, which makes the base of partner's capability and sharing the control right. The corporate governance of technological alliance is compound of negotiation mechanism, reputation mechanism and trust mechanism. Further analysis of them is also provided.