This study investigates the impact of a specific organizational form – partnership – on employees’ awareness of risk control and job engagement in securities companies. Given that their organizational performance relies heavily on the performance of individual employees, it is critical for securities companies in China to adopt appropriate organizational forms so that they can better captalize on their employees’ human capital to cope with the increasingly intense market competition. Partnership, as one of the few organizational forms, has been widely adopted in industries that rely on the performance of individuals, such as law, auditing, consulting, and investment banking, around the world. In the context of China’s emerging economy, it has also been adopted as an incentive system by market leaders across several industries, including Alibaba in online shopping, Vanke in real estate, and Fosun in investments. In contrast, partnership has not been adopted or implemented by securities companies in China as most of them are still state-owned enterprises.

Based on my review of the corporate governance literature and qualitative analysis of partnership adoption in China, I propose that partnership can help better alighn the interests of employees with owners in securities companies as well. Specifically, the prospect of becoming a partner in the future can improve employees’ awareness of risk control and increase their job engagement. Taking advantage of partnership adoption at a Chinese securities company as a natural field experienment, I surveyed its employees about their awareness of risk contrl and job dedication before and after the adoption. The results from 505 matched surveys showed an increase in the average scores of both awareness of risk control and job dedication after the company adopted partnership as a new organizational form. Findings of this study have important implications for organizational and incentive design for securities companies in China.

As securities companies occupy an increasingly important position in the national economy, and the most valuable competitive advantage for whom is human resources; therefore, Security Industry practitioners pay close attention to the influences of securities companies' incentive mechanisms regarding to various business types.

This paper finds that asymmetry of information in business models is the motivation of the gaming for all participants, through analyzing the differences of various business models of securities brokerage services. Further, various incentive mechanisms under different circumstances result in diverse strategies of gaming. It varies development paths of securities companies. Therefore, the purpose of the paper is to theoretically deduce the most reasonable and optimal securities companies’ incentive mechanism.

This paper intends to identify the principle component factors influencing securities brokerage services via questionnaire investigations towards 75 branches under the same securities company and 13 different securities companies, respectively. In addition, based on historical data, the paper aim to explain rationales between adjustments of incentive mechanisms and market shares of securities brokerage services.Lastly, combining author’s personal experience of various incentive mechanisms and development tracks in four securities companies that hopefully presents valuable information and clues for deducing the optimal securities company incentive mechanism.

There are two critical agency relationships in securities brokerage services. One is between principals, securities companies, and agents which are directors of branches. The other is between principals, securities companies, and agents which are securities marketers or brokers. Because of such operational setup, information is highly asymmetrical between all parties. It brought prominent problems regarding agency relationship and motivation aspects.

Under the certain circumstances, implementation of Incomplete Contracting Theory with franchising models in securities companies is quite useful. Specifically, for the former relationship between securities companies and marketers, the motivation effects of sub-license franchising are better than bonus compensation structure. Fixed salaries without bonus have the worst stimulating effects in such business model. For the latter relationship between securities companies and directors of branches, the agents focus on long term residual value claim rights, since it coincides with agents’ appraisals, focusing on incremental market shares and profit drawings.

University graduates play a significant role in the labor market of China. Universities continuously supply senior talents and provide a strong guarantee to the country’s development. However, with the enlargement of the enrollment scale, more and more graduates become unemployed or forced to be employed. Most literatures mainly focus on the unemployed phenomenon or reasons, but had neglected the relationship among the employment, universities and the labor market. This assay is trying to using the supply and demand theory of classical economics to analyze the training direction and model of university from the perspective of the supply and demand of labor market. This assay proposes that universities have to integrate with the demand of the labor market so that to cultivate the talents to meet the social needs.

Firstly, the essay analyzes the relationship between the universities education and the supply and demand labor market by using the view of labor economics, and shows the mainly phenomenon and features of supply-demand imbalance. And then, the writer considered that universities talent cultivation development of China has gone through “absolute shortage”, “relative shortage” and “structural unbalanced” three stages. Thirdly, the survey results confirmed that the talent cultivation in universities does not match the demand of the labor market. On one other hand, over educated is a common phenomenon in the academic education. On the other hand, the graduates are lack of education skills training. Fourthly, the essay analyzes the reasons which lead to the unbalance. The unbalance is not only affected by the macro factors, but also by the micro factors. Fifthly, build up the interaction system model “UPT-LM” for the universities talent cultivation and the labor market, and separately building up the macro interaction system and the micro interaction system to analyze the balance of supply and demand. Based on this, it should strengthen the interaction on the feedback mechanism. At last, strengthening the connection of universities talent cultivation and labor market is a systematic program which needs the corporation from the government, the universities and the labor market.

This paper quantitatively analyses the relation between the return of private

seasoned equity offerings and variables of market and firm characteristics in China Ashare

market. A multiple-factor linear regression model is constructed to estimate this

relation and the result canhelp investors to determine the future return of private

placement stocks.

In this paper, I first review past theories about private placement stocks, including how

the large shareholder participation, the discount of private offerings, the firm

characteristics, and the investment on firm value will affect the return of private

offerings.

According to the past literature, I propose four main factors that may affect the

return of private placement. They are the large shareholders participation in private

placement; the discount that private placement could offer; the characteristics of the

companies that offer a private placement and the intrinsic value of such companies. I

adopt statistic and correlational analysis to test the impact of each factor. Then,

according to this single-factor analysis, I set up a multiple-factor linear regression model

on private seasoned equity offerings return in Chapter Four.

In the last two chapters, I apply this quantitative model to other fields. I use this

model to testify current financial products of private placement and develop investmen

strategies on stocks with private seasoned equity offerings in secondary market. My

quantitative strategy is useful according to the result of setback test.

It is important and with significant practical value to study how positioning may help enhance a company’s brand value and improve a company’s profitability. It is especially essential to find suitable solution to help Chinese enterprises appropriately position their brands, evaluate brand value, and adopt suitable positioning strategy.

The purpose of this paper is to clarify the impact of positioning on brand value through several case studies and empirical research, and to establish the relationship between positioning and brand value. At the same time, through determination of research topics and conduction of field studies, the paper ultimately verified the relationship between the internal theoretical prediction and the business management outcomes.

In this thesis I examine the opportunities and challenges faced by the community banks in China. Rooted in the local communities, community banks generally focus on serving the local residents, farmers, and micro and small business enterprises (MSBE) through relationship building. Although community banks tend to be small relative to the other financial institutions, their unique market positions and business strategies have helped them to survive the competition and secure some market shares. Thus, it is important to understand the business strategies of community banks and to explore their future business opportunities and challenges.

I first provide a brief overview about the importance of local communities, community economy, and community banking, on the basis of an analysis about mismatch in the demand and supply of community financial services due to information asymmetry. Next, I review and analyze how commercial banks have utilized different types of information in their operations. I classify the information used by commercial banks into different categories and discuss their importance to the operations of commercial banks. After that, I conduct a case analysis to illustrate the role of non-financial information in the development of community banks’ business strategy. I conclude this thesis with a discussion of how community banks can better utilize data analysis to develop their core competencies in the era of “Big Data”.