大韩航空“空中之家”也温馨

做为环球航空联盟“天合联盟”的创立成员,大韩航空是全球20家规模最大的航空公司之一,每天飞行近400个客运航班,穿梭于 31个国家的91个城市之间。     

航空公司联盟问题分析

近年来,联盟成为航空公司间合作中发展最快速、有效的方式之一,促进了整个航空运输业的进一步发展。本文针对航空公司联盟的含义及类型进行介绍;之后从网络经济、学习效应等方面对联盟的动因进行了分析;最后分析总结了航空公司联盟对消费者、航空公司自身产生的影响。     

我国传统航空公司投资风险及应对策略

我国的传统航空公司以国航、东航、南航为核心,在过去很长一段时间里,他们一直引领着我国航空运输业的发展潮流,然而随着廉价航空的崛起以及高铁的发展导致市场竞争的愈发激烈,以及"三公消费"的限制等负面因素的影响,我国传统航空公司面临着越来越多的挑战。为了应对这些风险,传统航空公司可以采用丰富产品设计,双品牌运营模式和加大成本控制力度等策略。     

墨西哥巨富

2007年3月1日，印度航空业迎来一个历史时刻，这一天，印度政府结束了持续几年的争论，正式批准四家国有航空公司合并，即日起由印度航空（Air India）、印第安航空（Indian Airlines，后改称Indian）、印度航空快运（Air India Express）及联盟航空（Alliance Air）整合成一家新航空公司，参与国内国际航空业竞争。     

印度重整航空

2007年3月1日,印度航空业迎来一个历史时刻,这一天,印度政府结束了持续几年的争论,正式批准四家国有航空公司合并,即日起由印度航空(Air India)、印第安航空(Indian Airlines,后改称Indian)、印度航空快运(Air In-dia Express)及联盟航空(Alliance Air)整合成一家新航空公司,参与国内国际航空业竞争.     

翠鸟迷途

五度拖欠员工薪酬、无法支付燃油费用、面临飞机租赁违约、欠缴机场费、与税务部门拉锯、银行账户一度被封、加入寰宇一家联盟一事无限期搁置……麻烦缠身的印度大型航空公司翠鸟航空(Kingfisher Airlines),是印度唯一获得了Skytrax五星评级的航空公司,却在数年间累积巨额亏损,目前徘徊在破产边缘。翠鸟航空财务上的颓势是内外交困的产物。原因包括油价的飙升以及缺乏应对其剧烈波动的对冲,尝试在印度次大陆专注于高端市场的欠佳商业模式,以及迥异于对手的高成本结构。     

物流企业战略联盟构建方案

构建战略联盟是目前我国物流企业顺利向现代物流企业发展,提升竞争优势,实现规模经济的一种有效的组织方式。本文就战略联盟作为我国物流企业获得规模经济的途径,从物流范围规模经济和物流运作规模经济两方面作了着重分析,同时也分析了我国物流企业组建战略联盟时的可选模式、联盟发展过程中可能导致的负效应及合理的联盟运行机制,以作为我国构建现代物流企业发展方案的参考。     

物流企业战略联盟构建方案

构建战略联盟是目前我国物流企业顺利向现代物流企业发展,提升竞争优势,实现规模经济的一种有效的组织方式.本文就战略联盟作为我国物流企业获得规模经济的途径,从物流范围规模经济和物流运作规模经济两方面作了着重分析,同时也分析了我国物流企业组建战略联盟时的可选模式、联盟发展过程中可能导致的负效应及合理的联盟运行机制,以作为我国构建现代物流企业发展方案的参考.     

我国银行业2002～2011年的成本效率、规模经济与技术进步

本文利用一个三种投入一三种产出的傅立叶弹性成本函数检验我国银行业在2002～2011年的成本效率、规模经济与技术进步。实证分析表明,尽管金融市场化改革使我国银行业的非效率在样本期间呈下降趋势．但仍存在比较显著的非效率问题。分析结果也表明所有类型的商业银行在样本期内都存在显著规模经济和技术进步。     

我国民航客运票价的影响因素——基于订票时间的动态分析

基于中国国内主要城市间的航班数据,运用2SLS方法 ,探讨了订票时间、航空公司异质性、市场结构、机型特点等影响民航客运票价的因素。实证结果显示,中国民航客运票价呈现出不同的航空公司特性,华夏航空、成都航空和中国国际等航空公司定价较高,而河北航空、西部航空等航空公司票价较低;下午2点时段票价最高,晚上11点时段票价最低;竞争和垄断程度显著影响着机票价格,不同的市场结构具有不同的定价行为;机票价格与订票天数存在显著的J曲线效应;存在高铁竞争的航线票价有显著的降低。     

The impact of crisis events on the stock returns volatility of international airlines

This paper adopts the generalized autoregressive conditional heteroskedasticity model to examine the relationship between the weekly returns of shares of the international airlines in 1996–2010. It also incorporates major international crisis events and observes the influence of different aspects on the volatility of returns of company shares. Different events exhibit significantly different regional volatility impulses in the countries in which the airlines are located. The Asian financial crisis enhances the returns volatility effects of Asian airline companies. The global financial crisis significantly intervenes with the returns volatility of airline companies around the world. The results suggest that major international events may all have risk effects on the returns on the share prices of airlines.     

Does High Service Quality Reduce Risk or Create Idiosyncratic Returns?

This article explores the impact of service quality on idiosyncratic returns, idiosyncratic risk (nonsystematic risk), and beta (systematic risk). Service quality was derived from the airline quality rating, and three dependent variables were calculated by the Fama–French four-factor model. The data includes 1,512 monthly records from 1997 to 2006, across 21 airlines. Multiple regression and vector autoregressive models were applied to test relationships among all, low-cost, and non-low-cost airlines. The study found that service quality has a positive impact on idiosyncratic returns in non-low-cost airlines; non-low-cost airlines are less affected by changes in the external environment.     

Is Cost-of-Service Regulation Worth the Cost?

Cost-of-service regulation that reduces prices will also reduce incentives to control cost. Increased output counteracts this trend when there are economies of scale. We derive closed-form approximations for the maximum cost increase that leaves a positive welfare gain when regulation reduces price by some percentage. To be useful to regulators, these approximations depend only on demand elasticity and the ratio of fixed to total cost. For low demand elasticities typical of regulated industries, price must fall by half to outweigh cost increases of as little as 2%. Cost-of-service regulation appears to reduce welfare unless economies of scale are strong. These conclusions may be reversed if regulators favor consumers, but only a slight bias in favor of the firm exacerbates them. Regulatory methods that preserve incentives to be efficient by divorcing price from cost become more appealing.     

Deregulation and globalization of airlines

Although the airline industry has contributed to the globalization of the world economy, it is itself one of the least globalized sectors. This article identifies the governmental policies that have contributed to that outcome, and the economic and political forces that have gradually eroded regulatory barriers to competition and globalization in the last ten to fifteen years. Based on their airline industry policies in the mid-1990s, countries are classified as efficiency seekers (e.g., the United States), late reformers (e.g., Germany), and shelter providers (e.g., France), with the first embracing deregulation and globalization, the second adopting those policies somewhat slowly and reluctantly, and the third continuing to resist them in every possible way. Using Porter's “diamond” of international competitiveness, the article then explores the interaction of country characteristics and government policies to shape the competitiveness of U.S. and European airlines. The article concludes that, as a group, U.S. airlines are quite competitive, whereas in Europe the situation varies greatly between efficiency-seeking countries, such as the United Kingdom and the Netherlands, whose airlines have become very competitive, and shelter-providing countries, such as France, Italy, and Spain, whose airlines continue to be plagued by high costs and poor service. Because first-mover advantages can be significant as the airline industry globalizes, countries that postpone reforms are likely to find that the passage of time makes it harder to make their airlines internationally competitive, not merely in terms of cost but also in terms of nonprice dimensions, such as quality, service, and reliability.     

R&D Costs,Innovative Output and Firm Size in the Pharmaceutical Industry

This study examines the relationships between firm size, R&D costs and output in the pharmaceutical industry. Project–level data from a survey of 12 US–owned pharmaceutical firms on drug development costs, development phase lengths and failure rates are used to determine estimates of the R&D cost of new drug development by firm size. Firms in the sample are grouped into three size categories, according to their pharmaceutical sales at the beginning of the study period. The R&D cost per new drug approved in the US is shown to decrease with firm size, while sales per new drug approved are shown to increase markedly with firm size. Sales distributions are highly skewed and suggest that firms need to search for blockbuster drugs with above–average returns. The results are consistent with substantial economies of scale in pharmaceutical R&D, particularly at the discovery and preclinical development phases.     

The Industry Determinants of Exchange Rate Pass-Through into Canadian Producer Prices

This paper models and estimates exchange rate pass-through and its determinants in Canadian manufacturing industries. The paper predicts theoretically that the exchange rate pass-through should be between one and zero, where it is positively affected by the share of tradable inputs in production costs and the domestic firms’ market share, and negatively by the elasticity of marginal cost with respect to output. The sign for the degree of product differentiation is not theoretically clear. Results of estimation indicate that pass-through is incomplete and is mostly affected by the share of tradable inputs in production costs (positively) and the elasticity of marginal cost with respect to output (negatively).     

Acquisition of Market Information,Returns to Scale and the Viability of Competitive Equilibrium

In this paper the economies of scale arising from the acquisition of costly information and their implications for the existence of a competitive equilibrium are investigated. As is known, the existence of economies in the scale of production undermines the possibility of a competitive equilibrium. This paper demonstrates that this kind of problem arises when firms face market uncertainty, i.e. in competitive markets, uncertainty about the price of production factors or about the price of output. It is shown that, under these circumstances, firms have incentives to purchase market information, i.e. information capable of reducing price uncertainty. In turn, the acquisition of costly information generates economies of scale that prevent the occurrence of a competitive equilibrium, unless such increasing returns to scale are tamed by the decreasing utility of uncertain returns due to risk aversion, or—in the short run—by increasing marginal costs of production.     

内生交易费用:战略联盟价值创造的动力抑或阻力

战略联盟是自利决策主体为获取分工经济性而进行专业化水平交互决策的内生均衡结果.各具内生专业化优势差异的联盟成员相互间信息不对称,引致联盟成员机会主义行为,在战略联盟价值创造"双赢"的完全分工结构中,联盟成员动态博弈的主要目标就是争夺联盟分工价值创造的好处,由此两方面而产生内生交易费用.战略联盟双方企业的内生专业化优势以及信息不对称,既是分工专业化利益的来源,又是产生内生交易费用而使得联盟均衡合作经济性难以实现帕累托最优的根源.     

Firm size and employment determination in dutch manufacturing industries

This paper examines whether the determination of employment differs between large and small firms. An employment equation is estimated on panel data of 67 (35) three-digit industries in Dutch manufacturing (1974–1986). The conclusions are as follows. Firstly, employment adjustment appears to be faster in small firms than in large ones. Secondly, the elasticity of factor substitution and the real wage elasticity at constant output are nearly the same for large and small firms. Thirdly, the estimated output elasticities suggest constant returns to scale in large firms and increasing returns in small ones. Finally, the number of working hours has less impact on employment in small firms than in large ones.     

Where are the airlines headed? Implications of airline industry structure and change for consumers

The airline industry is undergoing unprecedented change. This paper explores the consumer impacts of recent airline industry change, in the context of its oligopoly market structure and current industry environment. Economic and noneconomic events, increasing competition from low‐fare carriers, technological developments, and changes in industry practices are transforming consumer travel and interaction with airlines. Consumers can anticipate more direct flights, increased price transparency, and increased fees and time cost of security.