經(jīng)濟(jì)學(xué)人XXXX年月份

1、Sciencee and technnologyy 科學(xué)技術(shù)Academiic pubblishiing 學(xué)術(shù)出版Free-foor-alll 自由競(jìng)爭(zhēng)Open-acccess scienntificc publlishinng is gainiing grround 科學(xué)出版的開(kāi)放放存取已逐漸漸被人們所接接受AT THE beginnning of Appril, Reseaarch CCounciils UKK, a cconduiit thrrough whichh the goverrnmentt trannsmitss taxppayerss monney too acaddemic

2、 reseaarcherrs, chhangedd the ruless on hhow thhe ressults of sttudiess it ppays ffor arre madde pubblic. 四月初，英國(guó)研研究理事會(huì)一個(gè)由政府府向?qū)W術(shù)研究究者提供資金金機(jī)構(gòu)-改變變了它的一項(xiàng)項(xiàng)規(guī)則：即該該機(jī)構(gòu)提供資資助的一些研研究成果是否否可以自由出出版。經(jīng)濟(jì)學(xué)人下載:學(xué)術(shù)出版 自由競(jìng)爭(zhēng)From noow on they will have to bee publlishedd in jjournaals thhat maake thhem avvailabble frreeprrefera

3、ably iimmediiatelyy, butt certtainlyy withhin a year. 從今后，這些成成果將必須在在期刊上自由由，免費(fèi)發(fā)表表最好是結(jié)果果出來(lái)后立即即出版，但是是出版時(shí)間最最遲不能超過(guò)過(guò)一年。In Febrruary the WWhite Housee Offiice off Scieence aand Teechnollogy PPolicyy toldd fedeeral aagenciies too makee simiilar pplans. 今年二月，白宮宮科學(xué)和技術(shù)術(shù)政策辦公室室也要求聯(lián)邦邦機(jī)構(gòu)做出與與之相類(lèi)似的的計(jì)劃。A week beforre

4、 thaat, a bill whichh woulld reqquire free accesss to goverrnmentt-finaanced reseaarch aafter six mmonthss had begunn to wwend iits waay thrrough Congrress. 在此前一周，國(guó)國(guó)會(huì)也通過(guò)了了一項(xiàng)法案即政府資助助研究產(chǎn)生成成果六個(gè)月后后，可以自由由出版，雖然然投票通過(guò)的的過(guò)程有些曲曲折。The Eurropeann Unioon is movinng in the ssame ddirecttion. 同時(shí)，歐盟也正正在同樣方向向的指導(dǎo)下做做著類(lèi)

5、似的工工作。So are chariities. 慈善機(jī)構(gòu)同樣如如此。And SCOOAP3, a connsortiium off partticle-physiics laaborattoriess, libbrariees andd fundding aagenciies, iis preessingg all 12 off the fieldds leeadingg jourrnals to maake thhe 7,0000 arrticlees theey pubblish each year free to reead. 而且，一個(gè)由眾眾多粒子物理理實(shí)驗(yàn)室，圖圖書(shū)館和資助助機(jī)構(gòu)組

6、成的的聯(lián)合體-SSCOAP33已經(jīng)向該領(lǐng)領(lǐng)域的12個(gè)個(gè)先鋒期刊提提出如下要求求：即他們每每年出版的77,000篇篇文章都能免免費(fèi)閱讀。For sciientiffic puublishhers, it seeems, the pparty may ssoon bbe oveer. 對(duì)科學(xué)出版社們們來(lái)說(shuō)，這似似乎預(yù)示著獨(dú)獨(dú)享的快樂(lè)聚聚會(huì)可能就快快結(jié)束了。It has, theyy woulld havve to admitt, beeen a ggood bbash. 不過(guò)，他們將不不得不承認(rèn)，這這是一個(gè)很好好的嘗試。The currrent enterrpriseesellling tthe

7、reesultss of oother peoplles wwork, submiitted free of chharge and vvettedd for nothiing byy thirrd parrties in a proceess caalled peer revieew, haas beeen immmenselly proofitabble. 現(xiàn)在的企業(yè)銷(xiāo)銷(xiāo)售他人的工工作成果，不不要承認(rèn)任何何費(fèi)用，而且且不要接受被被稱(chēng)為同行檢檢查的第三方方審查，已經(jīng)經(jīng)是極有利潤(rùn)潤(rùn)可圖了。Elsevieer, a Dutchh firmm thatt is tthe woorldss bigg

8、gest jjournaal pubblisheer, haad a mmarginn lastt yearr of 338% onn reveenues of 2.1 billlion. 荷蘭的愛(ài)思唯爾爾是全球最大大的雜志出版版商，去年在在這個(gè)方面的的利潤(rùn)達(dá)到了了總收入的338%。Springeer, a Germaan firrm thaat is the ssecondd-bigggest jjournaal pubblisheer, maade 366% on saless of 8875m iin 20111. 而第二大出版商商德國(guó)的施普普林格，就其其最近一年2011年年可查的數(shù)據(jù)據(jù)

9、來(lái)看，出版版研究成果的的收入達(dá)到了了當(dāng)年銷(xiāo)售收收入8.75億億歐元的366%。Such fiirms aare noow, thhough, faceed witth commpetittors sset upp expllicitlly to coverr onlyy theiir cossts. 但是，現(xiàn)在這些些公司也面臨臨著僅為賺取取投資成本而而起家的競(jìng)爭(zhēng)爭(zhēng)對(duì)手的挑戰(zhàn)戰(zhàn)。Some reely onn charrity, but mmany hhave aa propper buusinesss moddel: aacademmics ppay a fee tto be publiishe

10、d. 有些企業(yè)倚重的的卻是慈善出出版物，但是是，它們大多多都有一個(gè)合合適的商業(yè)模模式：學(xué)者都都要支付一定定的費(fèi)用才能能出版他們的的研究成果。So, on the pprinciiple oof if you ccant beat em, join em, commeerciall publlisherrs, tooo, arre settting up oppen-acccess subsiidiariies. 因此，本著如果果你不能打敗敗他們，那就就加入他們的的原則，商業(yè)業(yè)出版社也開(kāi)開(kāi)始設(shè)立可以以開(kāi)放存取的的子公司。Open foor bussinesss 開(kāi)業(yè)了The bigggest i

11、s BiioMed Centrral, ppart oof Sprringerr. 影響最大的是生生物醫(yī)學(xué)中心心，它隸屬于于斯林普格，創(chuàng)創(chuàng)建于20000年。It was foundded inn 20000 and in Feebruarry it publiished its 1150,0000th ppaper and aalso llaunchhed itts 2500th peeriodiical, catchhily eentitlled thheJourrnal oof Vennomouss Animmals aand Tooxins Incluuding Tropiical DD

12、iseasses. 今年二月，它出出版了它的十十五萬(wàn)篇文章章，也出版了了它的第2550期期刊，它它的題目很吸吸引人有毒動(dòng)物，及及包含熱帶疾疾病的毒素。Days laater NNaturee Publlishinng Grooup, wwhich owns Naturre andd 81 oother journnals, and wwhich itsellf bellongs to thhe Geoorg voon Holltzbriinck PPublisshing Groupp, anoother Germaan firrm, boought a majjorityy stakke in

13、 Fronttiers, a Swwiss oopen-aaccesss plattform with 30 tiitles in 144 scieentifiic fieelds. 幾天以后，擁有有自然雜志和和其它81種種雜志的自然然出版集團(tuán)-它本身隸屬屬于另一家德德國(guó)公司：格格奧爾格-馮馮-霍爾茨布布林克出版集集團(tuán)，購(gòu)買(mǎi)了了前鋒一家擁有114個(gè)科研領(lǐng)領(lǐng)域30種期期刊的瑞士開(kāi)開(kāi)放存取平臺(tái)臺(tái)的多數(shù)股權(quán)權(quán)。In combbinatiion, NNPG annd Froontierrs pubblish 46 oppen-acccess journnals, and 77,300 free pap

14、errs a yyear. 聯(lián)姻后，自然集集團(tuán)和前鋒每每年能夠出版版46個(gè)開(kāi)放放存取期刊，及及7,3000篇文章。In the past year Elsevvier hhas moore thhan dooubledd the numbeer of open-accesss jouurnalss it ppublisshes, to 399. 去年，艾思維爾爾把它出版的的開(kāi)放存取期期刊的數(shù)量增增加了一倍以以上，達(dá)到了了39個(gè)。And eveen in thosee thatt usuaally cchargee readders, payinng a ppubliccationn fee m

15、akess a paaper aavailaable ffree iimmediiatelyy. 甚至那些通常收收費(fèi)的出版商商，在支付出出版費(fèi)用后，也也能夠立刻免免費(fèi)讀到這些些文章。Outselll, a CCalifoorniann conssultanncy, eestimaates tthat oopen-aaccesss jourrnals generrated 172m in 20012. 據(jù)一家加州咨詢(xún)?cè)児緤W特舒爾估估計(jì)，去年開(kāi)開(kāi)放存取雜志志產(chǎn)生了1.72億美元元的收入。That waas jusst 2.88% of the ttotal revennue joournalls

16、 broought theirr publlisherrs, buut it was uup by 34% ffrom 22011 aand iss expeected to reeach 3336m iin 20115. Thhe nummber oof opeen-acccess ppaperss is fforecaast too groww fromm 194,000 tto 3522,000 in thhe samme perriod. 而這僅僅占了出出版商全部雜雜志收入的22.8%，但但是相比于22011年，已已經(jīng)增加了334%，估計(jì)計(jì)到20155年，全部開(kāi)開(kāi)放存取雜志志的收入會(huì)達(dá)

17、達(dá)到3.366億美元。屆屆時(shí)，開(kāi)放存存取文章的數(shù)數(shù)量將會(huì)從119.4萬(wàn)篇篇增加到355.2萬(wàn)篇。Open-acccess publiisherss are also lookiing att new ways of dooing bbusineess. 開(kāi)放存取出版商商也在探索這這方面的新方方式。Frontieers, ffor exxamplee, doees nott try to juudge aa papeers ssignifficancce durring ppeer rrevieww, onlly itss accuuracyan appproacch alsso adoopte

18、d by thhe Pubblic LLibrarry of Sciennce, aa non-commeerciall orgaanisattion bbased in Saan Fraanciscco thaat wass one of thhe piooneerss of oopen-aaccesss publlishinng. Itt thuss acceepts 880-90% of ssubmisssionss. 比如，前鋒并不不注重一篇文文章在同行眼眼光中的重要要性，而只專(zhuān)專(zhuān)注于它的準(zhǔn)準(zhǔn)確性這也是公共共科學(xué)圖書(shū)館館所采取的方方法，因此，前前鋒獲得了所所提交研究論論文中80-90%

19、的出出版權(quán)。Insteadd, a FFrontiiers ppapers merrit iss gaugged affter ppubliccationn, usiing meeasurees likke thee numbber off downnloadss. 相反，前鋒文章章的一個(gè)優(yōu)點(diǎn)點(diǎn)是，在出版版后，通過(guò)類(lèi)類(lèi)似下載數(shù)量量的衡量方式式來(lái)對(duì)文章進(jìn)進(jìn)行評(píng)判。Frontieers allso dooubless as aa sociial neetworkk for reseaarcherrs to sharee newss, jobb offeers annd infformattion

20、aabout confeerencees andd evennts. 作為一個(gè)為研究究者提供新聞聞，工作計(jì)劃劃和有關(guān)會(huì)議議和事件信息息分享的社交交網(wǎng)站，前鋒鋒雜志的下載載量也增加了了一倍。This neetworkk currrentlyy has arounnd 70,000 mmemberrs. 這個(gè)網(wǎng)站現(xiàn)在已已經(jīng)有約七萬(wàn)萬(wàn)左右的會(huì)員員。PeerJ, foundded laast yeear, mmakes an evven moore drramatiic depparturre froom traaditioon. 而去年創(chuàng)建的皮皮爾杰則開(kāi)發(fā)發(fā)了一個(gè)更加加異于傳統(tǒng)的的運(yùn)作模式。Rath

21、er than beingg charrged ppubliccationn feess, autthors pay aa one-off mmemberrship fee, whichh rangges frrom 999 to 2298, ddependding oon howw manyy papeers thhey waant too publlish eeach yyear. 文章的作者并不不需要支付出出版費(fèi)用，而而只要支付一一次性會(huì)員費(fèi)費(fèi)用，從999美元到2998美元不等等，這取決于于每年他們打打算出版的文文章數(shù)量。All co-authoors muust bee membber

22、s. The ffirm aalso ddeals neatlly witth thee quesstion of peeer reeview. Membbers mmust rrevieww at lleast one ppaper a yeaar. 所有的合作者必必須都是會(huì)員員。這家公司司也很好地處處理了同行評(píng)評(píng)審的問(wèn)題。它它規(guī)定，會(huì)員員每年必須評(píng)評(píng)審一篇文章章。Non-commmerciial oppen-acccess publiisherss, thoough, are ffightiing baack. 但是，非商業(yè)性性的開(kāi)放存取取出版商們也也開(kāi)始了反擊擊。The Welllcom

23、ee Trusst, thhe Maxx Plannck Soocietyy and the HHowardd Hughhes Meedicall Insttitutee havee set up eLLife, a peeer-revviewedd jourrnal tthat ddoes nnot chharge publiicatioon feees. 一家名叫威康信信托基金會(huì)英英國(guó)的醫(yī)療慈慈善機(jī)構(gòu)，運(yùn)運(yùn)作多家德國(guó)國(guó)研究機(jī)構(gòu)的的馬普學(xué)會(huì)及及一家稱(chēng)為霍霍華德休斯醫(yī)醫(yī)學(xué)研究所的的美國(guó)慈善機(jī)機(jī)構(gòu)共同設(shè)立立了開(kāi)放存取取期刊網(wǎng)絡(luò)生活，這這個(gè)期刊不收收取出版費(fèi)用用，但是還能能進(jìn)行同行評(píng)評(píng)審。And

24、in Januaary Jeean-Piierre Demaiilly, of thhe Uniiversiity off Grennoble, in FFrancee, and a hanndful of feellow matheematiccians launcched tthe Eppiscieences Projeect. 今年一月，法國(guó)國(guó)格勒諾布爾爾大學(xué)的皮埃埃爾-德馬里里和少數(shù)幾個(gè)個(gè)屈指可數(shù)的的數(shù)學(xué)家們創(chuàng)創(chuàng)建了科學(xué)至至上期刊。This aiims too showw thatt reseearcheers thhemsellves ccan tuurn ouut refferee

25、dd papeers chheaplyy, byppassinng traaditioonal ppurveyyors. 這旨在表明，不不需要傳統(tǒng)意意義上的傳播播者，研究者者自己能夠出出版經(jīng)過(guò)評(píng)審審的文章，而而且成本低廉廉。Episcieences will piggyyback on ArrXiv, an onnline repossitoryy belooved oof phyysicissts annd matthematticiannswhoo ofteen posst worrk theere ass prepprintss befoore suubmittting iit to j

26、ournnals. 科學(xué)至上將與數(shù)數(shù)學(xué)預(yù)印本網(wǎng)網(wǎng)庫(kù)在線網(wǎng)絡(luò)絡(luò)資料庫(kù)合作作，這是一個(gè)個(gè)物理學(xué)家和和數(shù)學(xué)家們衷衷愛(ài)的網(wǎng)絡(luò)平平臺(tái)，他們?cè)谠谙蚱诳陡甯迩巴鶗?huì)把把預(yù)印本提前前上傳到這里里。ArXiv iis hossted bby Corrnell Univeersityy at aa costt of $830,0000 a year. ArXiv的運(yùn)運(yùn)營(yíng)商是美國(guó)國(guó)康奈爾大學(xué)學(xué)，每年的運(yùn)運(yùn)營(yíng)成本為883萬(wàn)美元。Tackingg on aan epiijournnal, sso thaat reffereedd papeers woould ssit allongsiide thhe preepri

27、ntts, shhould not aadd muuch too thatt. 連接到一個(gè)預(yù)印印雜志上，這這樣就會(huì)同時(shí)時(shí)看到經(jīng)過(guò)評(píng)評(píng)審的論文和和它的預(yù)印本本，這樣也無(wú)無(wú)法在論文上上增加太多了了。Mattheww Cockkerilll, BiooMed CCentraals bboss, thouggh, pooints out tthat EEpisciiencesss puublishhing mmodel may hhave iits drrawbaccks. 但是，斯林普格格生物醫(yī)學(xué)中中心的老板馬馬修-科克爾爾指出，科學(xué)學(xué)至上期刊的的出版模式可可能也有不足足之處。Academiics

28、whho byppass ppublisshers becomme pubblisheers thhemsellves. 繞過(guò)出版商的學(xué)學(xué)者們自己成成為了出版者者，And thaat willl be hardeer to do ass the operaation growss. 當(dāng)業(yè)務(wù)越來(lái)越多多時(shí)，他們也也會(huì)越來(lái)越難難做。Who payys forr luncch? 誰(shuí)來(lái)買(mǎi)單？Other aaspectts of open-accesss pubblishiing allso drraw poolite sceptticismm fromm incuumbentts. 開(kāi)放存取其它方方面的

29、影響也也遭到了在職職人員理性的的懷疑。The proomiscuuous aapproaach off Fronntierss and PLoS, for exampple, iis at odds with the rrejecttion bby pubblicattions like Naturre andd its Ameriican ccounteerpartt, Sciience, of oover 990% off submmittedd manuuscrippts. 比如，前鋒和科科學(xué)公共圖書(shū)書(shū)館方式的混混雜操作受到到了類(lèi)似自自然和它的的美國(guó)同仁科科學(xué)的質(zhì)疑疑，而且拒絕絕了它們9

30、00%以上的文文稿，It is tthis sselecttivityy thatt givees theese joournalls theeir prrestigge. 也正是這種專(zhuān)一一性樹(shù)立起了了自然們們的權(quán)威性。At the momennt, puublicaation in Naature, Scieence aand a handfful off simiilar jjournaals iss likee a spprinklling oof faiiry duust. 現(xiàn)在，在自然，科科學(xué)和少數(shù)幾幾個(gè)類(lèi)似的雜雜志上可以發(fā)發(fā)表文章，就就好比點(diǎn)點(diǎn)星星塵那么稀少少而珍貴。Everyon

31、ne knoows hoow touugh itt is tto gett in, so paapers that do soo are assummed too be sspeciaal. 每個(gè)人都知道它它們的門(mén)檻有有多高，所以以能夠被刊印印的文章被認(rèn)認(rèn)為是非常特特別的。This wiill bee hardd for open-accesss pubblicattions to emmulatee. 而這一點(diǎn)是開(kāi)放放存取出版很很難效仿的。The rejjectedd papeers alll havve to be sccrutinnised, thouughannd eveen thoo

32、ugh ppeer rrevieww is ffree, this invollves sstaff time and oother costss. 被退稿的文章都都必須經(jīng)過(guò)審審查，盡管，即即使同行審查查是免費(fèi)的，而而工作人員的的時(shí)間和其它它成本也是非非常高昂的。Accordiing too Natuure, tthe coost peer pubblisheed papper iss 40,0000. 根據(jù)自然雜志的的數(shù)據(jù)，每篇篇發(fā)表文章的的成本為四萬(wàn)萬(wàn)美元。If Natuure iss to sstay iin bussinesss in aanythiing liike itts cur

33、rrent form, someeone wwill hhave tto payy thatt. 如果自然雜志處處在類(lèi)似它現(xiàn)現(xiàn)在形式的任任何產(chǎn)業(yè)里，總總是會(huì)有人不不得不買(mǎi)單的的。Whetherr anyoone wiill waant too, remmains to bee seenn. 無(wú)論是否有人愿愿意，這還有有待觀察。Budgetss are tightt, andd presssure for aaccesss to bbe opeen is growiing. 預(yù)算緊張，加上上要求開(kāi)放的的壓力越來(lái)越越大。Intangiible bblessiings oof thee sortt

34、besttowed by prrestiggious journnals ccan vaanish rapiddly. 這種著名雜志賦賦予的無(wú)形的的資產(chǎn)會(huì)很快快消失。Where tthe gaame wiill ennd is anyboodys guesss. 游戲什么時(shí)候結(jié)結(jié)束，誰(shuí)也說(shuō)說(shuō)不準(zhǔn)。Reformiing Chhinass statte-ownned fiirms 改革中國(guó)的國(guó)有有企業(yè)From SOOE to GLC從國(guó)有企業(yè)到國(guó)國(guó)聯(lián)企業(yè)Chinass ruleers loook too Singgaporee for tips on poortfollio maanagemmen

35、t 中國(guó)領(lǐng)導(dǎo)人指望望得到新加坡坡關(guān)于投資組組合管理的指指點(diǎn)Nov 23rrd 20113 | HHONG KKONG |From the pprint editiionSHORTLYY befoore hiis connfirmaation as Chhinass “parramounnt leaader” in 19978, DDeng XXiaopiing paaid a visitt to ffast-ggrowinng Sinngaporre. Hee plannted aa treee on aa hilll overrlookiing Juurong, a buustlinng i

36、nddustriial paark buuilt oon whaat wass oncee marsshy waastelaand cllose tto thee cityy-stattes hharbouur. Siingapoores succeess ass a trradingg hub impreessed Deng, who impossed hiis vission oof ecoonomicc refoorm onn Chinnas CCommunnist PParty the ffollowwing mmonth, at aan hisstoricc meetting kkn

37、own as thhe “thhird pplenumm”. 1978年，鄧鄧小平被任命命為中國(guó)“最高領(lǐng)導(dǎo)人人”前夕，他對(duì)對(duì)高速發(fā)展的的新加坡進(jìn)行行了訪問(wèn)。他他在俯瞰裕廊廊的一座山上上種植了一棵棵樹(shù)，裕廊是是建于城市港港口附近的一一個(gè)蓬勃發(fā)展展的工業(yè)園區(qū)區(qū)，那里曾經(jīng)經(jīng)是一個(gè)不毛毛之地。新加加坡成功成為為一個(gè)貿(mào)易樞樞紐給鄧小平平留下了深刻刻的印象，他他在訪問(wèn)新加加坡后的一個(gè)個(gè)月，在那個(gè)個(gè)具有歷史意意義的“三中全會(huì)”上，向中國(guó)國(guó)共產(chǎn)黨提出出了有關(guān)經(jīng)濟(jì)濟(jì)改革的設(shè)想想。Singapoore, wwhich has aa popuulatioon of 5m too Chinnas 11.35 bbil

38、lioon, reemainss a soource of innspiraation for ssome CChinesse refformerrs. Onn the eve oof thee lateest thhird pplenumm, helld earrlier this monthh, thee Deveelopmeent Reesearcch Cenntre (DRC), a goovernmment tthink-tank, adveertiseed an ambittious set oof refform ppropossals, incluuding an ovverh

39、auul of Chinaas innefficcient statee-owneed entterpriises (SOEs). Simmply pprivattisingg thesse commpaniees remmains out oof thee quesstion for CChinas leaaders. But theree are alterrnativves, aand Siingapoore prrovidees onee.對(duì)于中國(guó)一些改改革家來(lái)說(shuō)，擁?yè)碛?00萬(wàn)萬(wàn)人口的新加加坡與擁有113.5億人人口的中國(guó)相相比，仍然具具有激勵(lì)作用用。本月初期期舉行的十八八屆三中全會(huì)

40、會(huì)前夕，政府府智囊團(tuán)國(guó)務(wù)務(wù)院發(fā)展研究究中心公布了了一系列雄心心勃勃的改革革提議，包括括徹底改革中中國(guó)低效國(guó)有有企業(yè)。僅僅僅將這些企業(yè)業(yè)私有化對(duì)中中國(guó)領(lǐng)導(dǎo)人來(lái)來(lái)說(shuō)是不可能能的。但是他他們還有其他他選擇，新加加坡就提供了了一個(gè)選項(xiàng)。The DRCCs pllan naamed TTemaseek, a holdiing coompanyy for SOEs in Siingapoore, aas a ppotenttial mmodel. It wwas crreatedd in 11974, when it innheritted 355 comppaniess fromm the finann

41、ce miinistrry. Itts inaauguraal porrtfoliio conntaineed sevveral of thhe firrms thhat maade Juurong eye-ccatchiing, iincludding iits shhipyarrd andd its birdppark (pictuured). In tthe foour deecadess sincce, Teemasekks poortfollio haas botth mulltipliied (iit is now wworth S$2155 billlion, or $1172

42、biillionn) andd gonee fortth: onnly 300% of its hholdinngs reemain in Siingapoore ittself. Its domesstic hholdinngs arre conncentrrated in whhat Siingapoore caalls “ggovernnment-linkeed commpaniees” (GGLCs), suchh as SSingappore AAirlinnes (oof whiich itt ownss 56%) and SingTTel, aa teleecoms compaa

43、ny (552%).國(guó)務(wù)院發(fā)展研究究中心計(jì)劃把把新加坡國(guó)有有企業(yè)控股公公司淡馬錫公公司作為一個(gè)個(gè)可能的模型型。淡馬錫公公司成立于11974年，它它從新加坡財(cái)財(cái)政部手中接接手了35家家國(guó)有企業(yè)。它它成立的投資資組合包括幾幾個(gè)使得裕廊廊引人注目的的公司，包括括其造船廠和和飛禽公園（如如圖）。從那那時(shí)起后四十十年，裕廊的的投資組合不不僅迅速增加加（它現(xiàn)在價(jià)價(jià)值21500億新加坡幣幣，約合17720億美元元），還不斷斷發(fā)展：只有有30%的控控股還在新加加坡手上。其其國(guó)內(nèi)股份集集中在新加坡坡稱(chēng)為“國(guó)聯(lián)企業(yè)”手中，例如如新加坡航空空（控股566%），電信信公司SinngTel（552%）。Temasekk

44、s chharterr obliiges iit to increease tthe vaalue oof itss holddings over the llong tterm. This is a remarrkablyy simpple aiim commparedd withh the Chineese goovernmmentss maniifold ambittions. It wwants its hholdinngs too prommote ttechnoologiccal prrogresss, faavoureed inddustriies annd nattionall

45、 secuurity, amonng othher thhings. 淡馬錫公司的章章程迫使他們們?cè)陂L(zhǎng)期增加加他們股份的的價(jià)值。這相相對(duì)于中國(guó)政政府各種各樣樣的雄心壯志志來(lái)說(shuō)明顯是是一個(gè)簡(jiǎn)單明明確的目標(biāo)。此此外，他們還還希望他們的的股份能推進(jìn)進(jìn)技術(shù)進(jìn)步，推推動(dòng)中意的工工業(yè)發(fā)展和國(guó)國(guó)家安全。As welll as cclariffying objecctivess, thee Temaasek mmodel also allowws thee statte to distaance iitselff fromm the managgementt of iits ennterprrises, wi

46、thhout rrelinqquishiing owwnershhip. TTemaseek avooids mmeddliing inn the day-tto-dayy runnning oof thee GLCss in iits poortfollio, wwhich are ffree tto hirre proofessiional managgers aat marrket rrates. Withh a feew excceptioons, iit doees nott direectly appoiint booard mmemberrs eitther. This is p

47、aartly becauuse itt doess not want to beecome privyy to pprice-sensiitive inforrmatioon thaat migght liimit iits abbilityy to ttrade sharees. 除了闡明目標(biāo)以以外，淡馬錫錫模型還準(zhǔn)許許國(guó)家在不放放棄所有權(quán)的的情況下，拉拉開(kāi)自己與企企業(yè)管理的距距離。淡馬錫錫模型避免了了對(duì)國(guó)聯(lián)企業(yè)業(yè)投資組合日日常管理的干干預(yù)，這樣可可以隨意以市市場(chǎng)價(jià)雇傭?qū)?zhuān)業(yè)的管理人人才。除了幾幾個(gè)例外，淡淡馬錫公司也也不直接任命命董事會(huì)成員員。這樣做部部分原因是因因?yàn)樗幌氆@獲準(zhǔn)接觸那些些

48、可能會(huì)限制制其自身交易易股份能力的的價(jià)格敏感的的信息。Temasekk has evolvved innto ann actiive innvestoor, buut nott an aactiviist onne, saays Sttephenn Forsshaw, its cchief spokeesman. Althhough it dooes noot apppoint direcctors, it ddoes mmeet rregulaarly wwith iits waards boardds to make its ffeelinngs knnown. It allso keee

49、ps mmanageers onn theiir toees by enlissting outsiide coonsulttants, suchh as BBain oor McKKinseyy, to spot indusstriall trennds thhey shhould be awware oof.淡馬錫公司首席席發(fā)言人史蒂蒂芬福肖說(shuō)，淡淡馬錫公司已已經(jīng)逐步發(fā)展展成了一個(gè)活活躍的投資者者，但不是一一個(gè)積極分子子。雖然淡馬馬錫不任命董董事，它定期期與其監(jiān)管董董事會(huì)開(kāi)會(huì)，讓讓董事會(huì)知道道他們的想法法。它還讓管管理者通過(guò)謀謀求外部咨詢(xún)?cè)儊?lái)保持警覺(jué)覺(jué)，如向貝恩恩或麥肯錫咨咨詢(xún)，來(lái)留意意他

50、們應(yīng)該知知道的工業(yè)發(fā)發(fā)展趨勢(shì)。Would tthe Teemasekk modeel hellp impprove the eefficiiency of Chhinass statte-ownned ennterprrises? Onlyy one (Singgaporee Airllines) or ppossibbly twwo (DBBS bannk) off Temaasekss GLCss havee estaablishhed thhemsellves aas intternattionall brannds, aaccordding tto criitics such as C

51、hhris BBaldinng of Pekinng Univeersityy. SinngTel has mmade ssuccesssful foreiign accquisiitionss, butt otheer GLCCs havve farred leess weell. SSTATS ChipPPAC, aa semiiconduuctor firm, lostt moneey in the ssecondd quarrter oof thiis yeaar, ass a reesult of thhe cossts off clossing aa facttory iin Ma

52、llaysiaa. 淡馬錫模型會(huì)有有助于提高中中國(guó)國(guó)有企業(yè)業(yè)的效率嗎？據(jù)北京大學(xué)學(xué)的克里斯鮑鮑爾丁說(shuō)，淡淡馬錫公司的的國(guó)聯(lián)企業(yè)中中只有一個(gè)（新新加坡航空）或或者可能兩個(gè)個(gè)（DBS銀銀行）已經(jīng)成成為了國(guó)際品品牌。SinngTel成成功進(jìn)行了外外資并購(gòu)，但但是其他國(guó)聯(lián)聯(lián)企業(yè)很少有有成功的。半半導(dǎo)體公司SSTATASS ChippPAC今年年第二季度虧虧損，因?yàn)樗P(guān)閉了位于于馬來(lái)西亞的的一個(gè)工廠。The feww acaddemic studiies off Singgaporees GLLCs arre morre enccouragging, howevver. AA 20044 artiic

53、le bby Carrlos RRamireez of Georgge Masonn Univeersityy and Ling Hui TTan off the IMF sshowedd thatt the counttrys GLCs enjoyyed a higheer marrket vvalue, relaative to thhe boook vallue off theiir asssets, than compaarablee privvate ffirms. Theyy alsoo geneeratedd a hiigher returrn on assetts, onn a

54、verrage.但是關(guān)于新加坡坡國(guó)聯(lián)企業(yè)的的學(xué)術(shù)研究越越少越令人鼓鼓舞。喬治梅梅森的卡洛斯斯拉米雷斯和和國(guó)際貨幣基基金組織的LLing HHui Taan 20004發(fā)表的一一篇文章表明明，就資產(chǎn)凈凈值而言，新新加坡的國(guó)聯(lián)聯(lián)企業(yè)比起私私人企業(yè)有更更高的市場(chǎng)價(jià)價(jià)值。他們還還創(chuàng)造更高的的平均投資回回報(bào)。In judgging tthe peerformmance of Teemasekks GLLCs, tthe coounterrfactuual iss impoortantt. Theey mayy not be ass obviiouslyy succcessfuul as privaate

55、 tiitans from the rregionn suchh as SSamsunng or LG. BBut thhey arre nott nearrly ass bad as moost SOOEs, iincludding CChinas. Thhe entthusiaasm foor refform oof SOEEs in Chinaa refllects theirr deteerioraating returrns annd acccumulaating debt. Accoordingg to MM.K. TTang oof Golldman Sachss, theeir

56、 reeturn on asssets was 66.5 peercenttage ppointss beloow thaat of otherr Chinnese ffirms in 20012 annd theeir shhares tradee at aa growwing ddiscouunt. EEven MMr Ballding, meannwhilee, is happyy to ffly Siingapoore Aiirlinees.在評(píng)價(jià)淡馬錫的的國(guó)聯(lián)企業(yè)的的表現(xiàn)時(shí)，反反事實(shí)的情況況很重要。他他們可能不會(huì)會(huì)像亞洲私人人公司巨頭那那樣有著明顯顯的成功，如如三星、LGG。但是他們

57、們幾乎不會(huì)像像大多數(shù)國(guó)有有企業(yè)包括中中國(guó)的國(guó)有企企業(yè)那樣糟糕糕。中國(guó)國(guó)有有企業(yè)改革的的激情反映了了他們?nèi)找鎼簮夯耐顿Y回回報(bào)和日益增增長(zhǎng)的債務(wù)。根根據(jù)高盛投資資公司的M.K. Taang，20012年國(guó)有有企業(yè)的資產(chǎn)產(chǎn)回報(bào)比中國(guó)國(guó)其他公司低低6.5個(gè)百百分點(diǎn)，且他他們的股份持持續(xù)貶值。同同時(shí)，甚至是是鮑爾丁先生生也很高興乘乘坐新加坡航航空。Heart ddiseasse andd the microobiomee 心臟疾病與微生生物High stteaks 牛排吃越多，心心臟病風(fēng)險(xiǎn)越越高Hardeniing off the arterries mmay bee caussed byy a ma

58、align interractioon of meat-eatinng andd inteestinaal baccteriaa 肉食與腸道細(xì)菌菌的惡性作用用可能會(huì)造成成動(dòng)脈硬化THOSE wwho taake paart inn clinnical trialls oftten haave too do nnasty thinggs, frrom taaking new ddrugs to foorgoinng sleeep. 參加臨床試驗(yàn)的的受試者常常常得要做一些些令人難受的的事兒，從試試用新藥到放放棄睡眠。Particiipantss in aa triaal orgganiseed b

59、y Stanlley Haazen oof thee Clevvelandd Clinnic, iin Ohiio, haad a ddecideedly eeasierr taskk: eatting ssteak. 克里夫蘭醫(yī)學(xué)中中心的斯坦利利?哈森在俄俄亥俄州組織織的臨床試驗(yàn)驗(yàn)中的受試者者所要做的，相相對(duì)來(lái)說(shuō)要簡(jiǎn)簡(jiǎn)單的多：吃吃牛排。After rreadinng Dr Hazenns coonclussions, thouugh, tthey mmay bee incllined to eaat ratther lless oof it. 但要是讀過(guò)哈森森博士的實(shí)驗(yàn)驗(yàn)報(bào)告后，他他們或許寧

60、愿愿自己少吃一一些。A link betweeen reed-meaat connsumpttion aand heeart ddiseasse wass percceivedd by eepidemmiologgists severral deecadess ago, but the nnaturee of tthis llink hhas neever bbeen pproperrly exxplainned. 幾十年前就有流流行病學(xué)家發(fā)發(fā)現(xiàn)心臟疾病病與食用紅肉肉有關(guān)，但這這種關(guān)聯(lián)的原原理一直沒(méi)有有得到合理的的解釋。Blamess fingger ussuallyy poinnts att