2,218 research outputs found

    Risk management and risk control for state-owned firms of China

    Get PDF
    As global economic integration deepens and enterprises scale up their business, the enterprise groups have become the mainstream of the company's development form. Subsidiaries of the Company have grown in size and increasingly diversified. Thus how does the parent Company control its subsidiaries effectively has become an urgent challenge, especially for the state-owned enterprises in China. This thesis studies the management and control of state-owned enterprises in China, carrying certain theoretical and practical significance. The research examined the theory and mechanism of management of SOEs, and evaluation on employee performance. It also analyzed performance evaluation, coordination and risk control strategies of SOEs' subsidiaries. The same studies were repeated on state-owned enterprise groups and extended to the strategies of risk management and risk control. The thesis first examined the conundrum of effective cooperation between subsidiaries of different departments and the parent company for efficient allocation of resources. To tackle this headache, the IAHP and DEA model were adopted to help group decision makers better measure the performance of employees and organizations. The thesis used the Balanced Scorecard (BSC) tool as the main principle and the combination of fuzzy mathematics and Delphi and entropy weight methods as the main methodology to assess the performance. In addition, a novel method of using multi-reasoning, multi-dimensional and dynamic factors was developed to assess the performance of SOE employees, and this method was proven to be effective. Moreover, the super-efficiency DEA model which takes into account work performance, work ability, work attitude, job potential and other factors in the evaluation on employee performance was developed and tested. Finally, risk map for SOEs was proposed and evaluated

    Empirical Study on the M&A (merger and acquisition) performances of China energy enterprises

    Get PDF
    DEA (Data Exchange Agreement) is used to make empirical study on the merger and acquisition performances of 46 China energy enterprises that happened from 2006 to 2012. The conclusions are listed as follow. Firstly, overall performances have a tendency of slow improvement, which is followed by a decline and then a remarkable enhancement. Secondly, sample performances of stock acquisition, which have a slow improvement, appear to be better than those of asset acquisition. Thirdly, during the first year after the acquisition, the performance of related party M&A is clearly better than that of unrelated party M&A. The performance of stock acquisition is unsteady while that of asset acquisition is steady and slow. And the performances of both stock acquisition and asset acquisition are basically the same. Fourthly, horizontal M&A show better performances than conglomerate M&A

    The professional service firm (PSF) in a globalised economy: A study of the efficiency of securities firms in an emerging market

    Get PDF
    This study explores the efficiency of securities firms in Turkey and offers conceptual and managerial insights utilizing data envelopment analysis. Through a sample of local and foreign owned securities firms in Turkey, we examine the impact of liabilities of foreignness (LOF) and localness (LOL) upon knowledge intensive firm efficiency in an emerging market economy. We have extended this approach through our consideration of liability associated with market globalness (LOMG). Our findings indicate the importance of size for firm efficiency with bank affiliation and foreign ownership also having positive effects on efficiency. Our study makes a contribution conceptually, methodologically and empirically to a growing literature on emerging economies. We also make a valuable addition to the limited empirical work conducted on the securities industry to date. Finally, through our contextualization of Turkish securities firms as professional services firms (PSFs), our research extends the narrow focus on law and accounting which currently dominates the burgeoning research strand on PSFs

    Municipality Size and Efficiency of Local Public Services: Does Size Matter?

    Get PDF
    Similarly to western Germany in the 1960s and 1970s, the eastern part of Germany has experienced a still ongoing process of numerous amalgamations among counties, towns and municipalities since the mid-1990s. The evidence in the economic literature is mixed with regard to the claimed expenditure reductions and efficiency gains from municipal mergers. We therefore analyze the global efficiency of the municipalities in Saxony-Anhalt, for the first time in this context, using a double-bootstrap procedure combining DEA and truncated regression. This allows including environmental variables to control for exogenous determinants of municipal efficiency. Our focus thereby is on institutional and fiscal variables. Moreover, the scale efficiency is estimated to find out whether large units are necessary to benefit from scale economies. In contrast to previous studies, we chose the aggregate budget of municipal associations (“Verwaltungsgemeinschaften”) as the object of our analysis since important competences of the member municipalities are settled on a joint administrative level. Furthermore, we use a data set that has been carefully adjusted for bookkeeping items and transfers within the communal level. On the “eve” of a mayor municipal reform the majority of the municipalities were found to have an approximately scale-efficient size and centralized organizational forms (“Einheitsgemeinden”) showed no efficiency advantage over municipal associations.efficiency, local government, DEA, bootstrap, demographic change, local institutions

    Comprehensive Benefit Evaluation and Regional Difference Research of State-owned Mixed-ownership Enterprises

    Get PDF
    Scientific and accurate assessment of the comprehensive benefits and regional differences of state-owned mixed-owned enterprises is an important link in promoting the steady progress of mixed-ownership reform of state-owned enterprises and achieving high-quality development of the state-owned economy. Using factor analysis method and GA-BP neural network model to evaluate the comprehensive benefits of listed state-owned mixed enterprises, the results show that, first, the main factors affecting the comprehensive benefits of state-owned mixed enterprises are profitability factor, sustainability factor and solvency factor, and the effect is as follows: profitability factor\u3esustainability factor\u3esolvency factor; second, factor analysis effectively improves the evaluation performance of the GA-BP neural network model. Further analysis of regional differences, it is found that the average comprehensive benefit of regional state-owned mixed enterprises is: eastern region \u3e central region \u3e western region. Among them, the profitability factor and solvency factor are as follows: eastern region\u3ecentral region\u3ewestern region, and the size of sustainability factor is: eastern region\u3ewestern region\u3ecentral region. Therefore, we can start from deepening the classification reform of state-owned enterprises, increasing investment in innovation, reducing financial leverage, and improving regional linkages, so as to improve the profitability, solvency and sustainability of enterprises, narrow regional differences, and achieve coordinated development between regions

    Industrial Relations in Europe 2002

    Get PDF
    [Excerpt] Industrial relations are at the core of the Member States\u27 economic and social organisation. They play their part in creating an area of solidarity within Europe, where people rally together and participate. The first edition of this report described the distinctive features of the Europeanisation of industrial relations and the significant changes over recent years. We saw the extent to which the development of industrial relations was linked to that of European integration. The 2002 report reviews a number of notable trends, in particular the organisation of new European players at sectoral level and the preparations for enlargement, and outlines the principal advances in labour relations in Europe in the course of 2000 and 2001

    Journal of Asian Finance, Economics and Business, v. 4, no. 3

    Get PDF

    Boardroom governing dynamics: A case study of state-owned oil and gas joint ventures in Egypt

    Get PDF
    The aim of the thesis is to investigate the differences in perceptions towards corporate governance practices on the boards of joint ventures between international or domestic private firms and Egyptian state-owned companies using the oil and gas industry as a case study. A questionnaire was distributed to 13 oil and gas joint venture companies where 100 board members completed the survey. The study reveals the barriers hindering board effectiveness between the domestic and international board members. The differences towards governance practices do exist between local- Egyptian board members who represent the state as an owner, Egyptians representing the private partner, and foreign board members or joint venture boards. The results of the questionnaire shows that nearly half of foreign board members are not satisfied with the board composition and the capabilities of the directors which are considered an important factor in achieving board effectiveness. Nearly half of the Egyptian board members representing the private partner support the view that that the board is not allowed having an access to information in the right time, in contrast to the views of their foreign counterpart. In addition, there is a need for board members to dedicate more time to strategy, performance, talent, and risk management. Nearly half of the foreign board members support the bringing of independent directors into their boards. As for the agenda and materials preparation given to board, almost half of the foreign board members see the need for improving the preparation of board meeting materials and for actively engaging in discussions during the meetings to achieve board efficiency

    Impact of privatization in ports : measuring efficiency through data envelopment analysis and key performance indicators

    Get PDF

    Structural and functional differences between state-owned and private banks in Iran

    Get PDF
    Banks, as financial institutions, play the role of financial intermediaries: savings, investments, production, employment and growth in the national economy are affected by operations of banks. State-owned and private banks have a relatively similar role and function and the rules and regulations governing them are not very different, because the non-usury banking act was adopted at a time when there was no private bank in the banking system of the country and all acts and regulations governing banking operations were approved by the government’s banking vision. At the moment, banks are moving within the samelegal atmosphere. Hence, the question is whether private banks are taking the path that the government banking system has taken. Despite the similarities, these banks are sometimes subject to different rules and regulations in terms of how to establish, operate and dissolve. This structural difference has led to a functional difference and has often differentiated the ways in which resources are attracted and allocated and made the private banking system somewhat offset the deficiencies of the government banking system.Banki jako instytucje finansowe pełnią rolę pośredników finansowych. Banki wpływają na oszczędności, inwestycje, produkcję, zatrudnienie i wzrost w gospodarce narodowej. Banki państwowe i prywatne pełnią podobną rolę i funkcję, a rządzące nimi zasady i przepisy nie różnią się bardzo. Irańska ustawa o bankowości bez lichwy została przyjęta w czasie, gdy w systemie bankowym kraju nie było prywatnego banku, a wszystkie ustawy i regulacje dotyczące operacji bankowych zostały podporządkowane państwowej wizji działalności bankowej. Stąd pytanie brzmi, czy banki prywatne podążają drogą rządowego systemu bankowego. Pomimo podobieństw banki te podlegają czasem różnym zasadom i regulacjom dotyczącym zakładania, prowadzenia i rozwiązywania. Ta różnica strukturalna doprowadziła do różnicy funkcjonalnej i często różnicowała sposób przyciągania i alokacji zasobów a także sprawiała, że system bankowości prywatnej nieco zrównoważył niedociągnięcia rządowego systemu bankowego
    corecore