Discussion on the business performance of life insurance industries in Taiwan and Mainland China Application of Metafrontier model

When using the Data Development Analysis method for analyzing the efficiency of different firms, it is common to put all similar DMU together for measurement in order to figure out the efficiency values of various DMU. However, such an analysis may easily neglect the source property of an individual DMU, meaning that the differences among various DMUs derive from different environmental backgrounds, e.g. environment variables such as economic civilization, laws and regulations, and political backgrounds. Applying the Metafrontier model can overcome the barriers resulting from the environment variables, and it can analyze and measure the differences among various DMUs which have different source properties. It can also be used for measuring the difference between each group of DMU and all DMUs. Therefore, this study adopts the DEA method, assuming variable returns to scale to evaluate and comparatively analyze the business performance of life insurance industries in Taiwan and Mainland China based on ＂BBC input orientation＂. When evaluating the business performance, the operating management echelon is affected by uncontrollable external environment variables. Thus, this study applies the Four-Stage Data Envelopment Analysis to discuss the impact of environment variables on business performance and re-measures the business efficiency of life insurance industries in Taiwan and Mainland China after adjusting the input variables. The demonstration period adopted by this study is from 2003 to 2005, and the research subject comprises 43 companies in Taiwan and Mainland China, among which, there are 19 companies in Taiwan and 24 companies in Mainland China, and there are 129 sets of sample data. It is assumed that the discount rate is ？ （）, is set as 3% in this paper）, and figured out the change of each life insurance company in technical efficiency in the inter-period accumulative years from 2003 to 2005.     

Factors affecting profitability of multi-finance company in Indonesia

The aim of this study is to examine the profitabilily of multi-finance companies. This study uses macroeconomic determinants and fundamental variables as factors that affected profitability. The samples of the study was multifinance company in Indonesia over period 2005-2007. The study uses an unbalanced panel data as a methodology. The result suggests that, the ownership of financial assets doesn＇t significantly affect multi-finance performances. This result indicates that multi-finance face difficult situation to generate profit from the credit given. And the result also suggests that all macroeconomic determinants affect multi-finance profitability, with more concern on inflation that have negative significant.     

Defining the Entrepreneurial Capital Construct

The purpose of this paper is to show preliminary results from an international research project on intellectual capital and value creation led by Lappeenranta University of Technology （Finland）. In the case of this paper, results from Italy will be reported and specifically. The Italian analysis focuses on the entrepreneurial capital （EC） and it analyses how large Italian companies develop and enhance this intangible element. The main research question is： What is the current level of EC in Italian organizations and how does it affect value creation.＇？ To this end, the research addressed the different definitions of EC that literature offers. As a secondary step, this paper analysed the variables suggested by previous literature and proposed an original definition for the research project. The definition is that EC is a stock of competences and the personnels＇ attributes related to proactive, risky, and aggressive decision-making and behaviour. This research provides researchers and managers with unique insights into the evolutionary nature of the relationships between distinct 1C variables and draws a picture on the state of art of corporate EC in the selected sample. This research highlights and improves companies＇ abilities to manage their EC. Furthermore, this research will set the agenda for improving the EC practices of Italian companies and will allow future comparison with firms from other countries that are participating in the same project identifying different pathways to success.     

International Development Strategies of Luxury-goods Players in China

The aim of this paper is to study and analyse the intemationalisation strategies chosen by the main luxury-goods players in the Chinese market, demonstrating the business intemationalisation processes. The research questions are： ttow luxury companies have developed distribution strategies in the Chinese markets？ What are the main formats of distribution for the Chinese markets？ Are there any differences in the internationalization process between the main players of the luxury markets and the smaller ones？ The methodology is based on the analysis on multiple-case ~.nalysis on a sample of luxury-goods companies and identifies and compares the different strategies used by the players analysed. The research process starts from identifying and selecting the most well-known companies operating in the luxury branded sector, which have established a presence in the Chinese market with their own brand, collecting secondary data for the selected companies （website, corporate profile, articles on websites and in trade magazines and interviews with the management）, analysing the data collected and interpreting the main results to have emerged from the research. The main findings and conclusions are that the route to development in the Chinese market taken by the players in the luxury-goods sector, historically undertaken by delocalising production operations, has in recent years begun to accelerate with new forms in play, principally linked to distribution. The Chinese market tbr luxury brands is ever more an outlet market rather than a production hub. The ability to create brand awareness will become a key factor for successful consolidation of the competitive position in this market, an operation that can only be performed through distribution. Moreover, Chinese high-end consumers are becoming ever more demanding, seeking out an ever more sophisticated shopping experience. Just as happening in other markets, opening directly operated stores is a strategic choice for reaching and convincing end-consumers, sinc     

Chinese companies＇ outward internationalization to emerging countries： The case of Latin America

This paper aims to review and analyze the literature on the expansion of Chinese firms to Latin America. In order to achieve this objective, it first reviews the literature on the internationalization of Chinese MNCs, the theoretical frameworks discussed in the literature and the principal features of companies from China. Second, it describes the economic and political relations between the countries, specifically the threats and opportunities for Latin America and the trade and investment trends. The review shows that the majority of the current literature on Chinese MNCs has a focus on their expansion to developed countries, on the conceptual framework needed to understand this expansion, and on the competition for foreign investments from developed countries. As a result, the analysis makes evident that research gaps seem to exist in the following areas： （1） the relative value of Chinese companies＇ existing advantages, （2） the sustainability of these advantages once the lead, probably given by OEMs or JVs, had been exhausted, （3） research works based on quantitative and comparative data, （4） the motives for FDI, （5） the entry mode, configuration, control and strategy of Chinese companies investing in Latin America, and （6） the potential opportunities presented to European companies operating in Latin America.     

Application of Fuzzy-AHP method in the evaluation of logistics capability in e-commerce environment

In order to solve the complex problem of evaluation of logistics capability in e-commerce environment, an index system model of logistics capability is established based on the method of Fuzzy-AHP in this paper. The results show that the method of Fuzzy-AHP is a powerful and flexible multi-criteria decision-making tool for dealing with complex problems where both qualitative and quantitative aspects need to be considered, and the human preference model is uncertain and decision-makers are reluctant or unable to assign exact numerical values to the comparison judgments. The evaluation model of logistics capability based on method of Fuzzy-AHP can help to make an effective decision in the evaluation of logistics capability. By this way we can effectively deal with the uncertainty and vagueness in the evaluation process of logistics capability. Logistics companies can diagnose their own weaknesses in the area of logistics and enhance their competitiveness.     

The Accounting Reform in the Brussels-capital Region： New Tool for Financial Analysis

In the last 20 years, public administrations in Belgium have completely reformed their accounting systems. The new system consists in combining double-entry general accounting with budgetary accounting, which is traditional in the public sector. The accounting reform of 2003 marks a turning point in the history of accounting of the federal State and federated entities （regions and communities）. The Brussels-capital region is the first federated entity to embark on the adventure and implement the new accounting system in 2006. The aim of this article is to introduce the legislative framework and the different implementation steps of the accounting reform in the Brussels-capital region and to provide a financial analysis of the region. The objective is to see if the region has a good financial situation. To do this, this paper analyses the data from the balance sheet and the income statements from 2008 to 2011. On one hand, it analyzes the evolution of the region＇s different results; and on the other hand, it presents different financial ratios. It also analyzes the evolution of the regional debt. This paper concludes that, although expenses and the debt are increasing, the situation of the region is not worrying, because of good budgetary performances, sophisticated financial management, and law loans rates. Even if the results of the analysis don＇t have to be interpreted as the same way as for a private company, the annual accounts provide interesting information that can be used to improve public finance.     

企业好行为与环境绩效关系的实证研究

Is the adoption of best practice in business associated with improved environmental performance？ And what methods can he used to assess and compare the environmental practices and performance of different companies？ In this paper, through case anatysis, the business environmental practices and performance of five companies in the manufacturing sector were examined and scored. Assessing these companies practices and performance according to “The best practice model” designed by Australian Manufacturing Council （AMC. 1994）. The finding shows that there is strong correlation between environmental practices and performance of companies （r=0.85, p〈0.05）, and indicates that corporate paying attention to environmental issue will improve its all performances in business.     

How Firms’Ownership Structure Impacts Online Peer-to-Peer Lending Performance in China

A dramatic surge in online peer-to-peer(P2P)lending emerged in China,where(under conditions of credit deficiency)it took only three years for the size of the P2P lending market in China to reach four times that of the United States and ten times that of the United Kingdom.The literature indicates that ownership structure is an important factor that influences P2P lending firms’performance,while research on the underlying mechanisms remain insufficient.This study analyzes the data of P2P lending companies between June 2016 and March 2017.The results demonstrate that although ownership structure has minimal direct effect on the turnover volume and number of lenders and borrowers,it moderates the effects of firm age,interest rate,and loan term on firm performance.These results enrich the property theory and shed light on how P2P lending firms with different ownership structures could succeed when there is institutional deficiency.     

Game analysis of control right of state-owned shares under the background of the mixed ownership

Since the Third Plenary Session of the 18 th Central Committee of the Communist Party of China, the concept of the mixed ownership economy has received extensive attention from all sectors of society, which has effect on a coming new round of reformation on enterprise property. However, in order to take control of the state-owned shares in the end making the state ownership economy become the principal position and to enlarge the scale of state-owned shares, which guides the common development with the non-public sectors of the economy, how to determine the proportion of state-owned shares? Under the background of the mixed ownership reformation, the article explains the mixed ownership by explaining how to enlarge the state-owned assets controlling scale and how to improve the stateowned company ’economic effi ciency and how to protect the interests of small shareholders. The final conclusion is that the SASAC should use the thinking of relative holdings, instead of the absolute control thinking, and should make use of the games among the large shareholders and the pyramidal ownership structure to make the pattern of ownership diversify.     

An Intermediary Organization Finds Potential Needs By Exploiting Serendipity

This paper intends to clarify the needs serendipity in creating new business. The authors will show that serendipity is capability method of finding potential needs and/or new markets. In economic society, potential needs and/or new markets are only partially exposed, such as an iceberg. Serendipity is a capability that can expose the potential hidden part through accidental opportunity. Something more concrete can be formed from the exposed parts. The authors describe cases that demonstrate the usefulness of serendipity. In one case, a high-tech start-up had intended to use medical electronic equipment and/or industrial electronic equipment as the first application of their core technology. In these markets, they were competing with established major companies, so this start-up had difficulty entering these markets. However, a specific distributor found potential needs that were met by the start-up＇s products, and has created a new market by combining their core technology with social needs. The authors define serendipity capability by analyzing this case example and argue that serendipity can contribute to finding opportunities and solving social issues.     

The importance of product positioning and global branding for sustaining competitive advantage within the companies＇ global marketing strategy

In today＇s globally competitive world, because of the globalization, new business patterns and the changing nature of consumers, the companies feel the necessity to act strategic in the market and to reach up the target markets and sustain maximum customer satisfaction in order to compete and survive. In this context, within the study it is tried to define product positioning in international markets and global branding strategies conceptually and to focus on their contributions to the overall competitive advantage of the company. Initially, the study tries to present the association between product positioning and global branding approaches of the companies and sustaining competitive advantage. Justifications for the examination of the importance of companies＇ international product positioning and global branding orientations as a basis of creating competitive advantage were derived from the literature. It is suggested that the companies＇ product positioning and global branding orientations and sustaining competitive advantage are the important aspects in multinational management and international business areas. Therefore, the purpose of this study is to evaluate the impact of product positioning and global branding strategies of the companies with special references to various industries and global brands.     

Executive remuneration and financial performance in Brazilian companies

The objective of this study is to investigate the existence of a relationship between executive remuneration and financial performance in 28 Brazilian companies from the industrial sector. These companies have been selected among those companies elected as ＂The Best Companies to Work for in Brazil＂. In order to operationalize the remuneration variable, the authors use the monthly salary, the variable salary and three indexes--of benefits, career and professional development--which have been created especially for this survey. To measure financial performance, the authors use three accounting measures： sales growth, return on equity （ROE） and return on sales （ROS）. The results point the existence of a relationship between executive remuneration and financial performance.     

The Scenario of Lean Product Development in Brazilian Auto-industry

The purpose of this paper is to evaluate the impact of lean product development （LPD） in the Brazilian automotive sector. A mailed-questionnaire survey was used to examine 23 questions about LPD principles and practices. The target population for the study was Brazil＇s largest product development and design companies. The study identified that although the automobile sector is seen as a reference in the adoption of lean practices, there is still potential for improvement by establishing partnership relations with suppliers, and with those on the other points of the chain by identifying what provides value to clients. Set-based concurrent engineering is also a practice that needs to be better developed, as well as the value stream mapping tool to identify waste and activities that add value to the product development process. There has been no previous study of this nature in Brazil that characterizes the sector and highlights its importance in relation to the global scene, providing incentives to international investors. The value of the work is in the results that allow diagnosing the lean development practices that are most used in the automotive sector. Moreover, the survey questions can be applied in other economic sectors and at companies of other sizes. The study contributed to providing a systematic view of the product development process from the perspective of people, processes, and technology, and assists companies and academics manage change.     

Social spatial changes： Booster for a new regional policy——The event of Silao and Romita counties in Guanajuato Mexico

Today, one of the most important phenomenons is the movement of Capital and the expansion of its investments, as well as the use of resources worldwide. The movement of Capital, is changing the local space and the territories, because is not a homogeneous process; they are not in the same way and rhythm, this is because they don＇t get in the same way to global dynamics. The reorganization of the world, because the movements in Capital is a challenge, that is why, the analysis of regions demand new and different views, to boost regional development. We can tell that since a long time ago, had been developing theories and proposals not good enough, for this reason we must think to generate new proposals. The goal of this paper, is to expose the social and territorial changes in Silao and Romita Counties in the state of Guanajuato Mexico, as a result of the relocation of economic activities that lead us to start a new regional policy, that gives more satisfactory results and think about a regional policy that could reflex about territorial development focuses, specially for a public policy.     

Gender Composition and Gender-based Employees＇ Turnover： An Empirical Study among Women and Men in China＇s Organization

With the disappearance of rigid employment contract and the-intenseness of competition of human resources, turnover has become a great obstacle to firm＇s well-runned development. From the point of firm＇s gender composition, the influence of gender composition on gender-based turnover in each level including leading post remains unclear. The paper explores this issue by using statistical methods on the basis of 332 individual sampling data in 65 different enterprises. The results show that proportion of male to female in high and first-line level has significantly positive influence on employee turnover for both male and female. But the proportion of male to female in middle level has significantly negative influence on employee turnover for both male and female. The whole proportion of male to female in organization has positive influence on turnover. The leader＇s gender has negative effect on turnover of male employee. Most of the above correlations are consistent with foreign researches. Referred to our results, enterprise could control turnover and improve the organization efficiency by adjusting the proportion of male to female in different levels when we make decisions on human resources management in order to attract female employees.     

Intelligent tools and techniques for modern management

In order to make decisions all companies need information. As a rule, all the informatics systems of a company contain a multitude of data and turn these data into information that has to be analyzed in order to make decisions. It is a slow process. The solution of this drawback is given by Business Intelligence （BI） applications that can help companies increase income or diminish costs by offering the executive management appropriate information on the basis of which quick and efficient decisions can be taken.
The main purpose of the paper is to prove the necessity that BI tools should be used by the modem manager. Managers are aware of that by putting into practice the BI solutions, opportunities of getting control over the business process and methods are improved and better, timely analysis functions of the performance parameters can be obtained.     

A review of non-agricultural land-use in peri-urbanization area： research progress and perspectives

The peri-urbanization area as a kind of rural-urban interface is changing rapidly ,physical, economlc and social terms. The land use pattern in such area is shifting away from the assumptions of mainstream paradigms to new conceptual landscapes, which leads to a series of problems on economic development and social stabilization. There are many researches on non-agricultural land-use in peri-urbanization area. In this paper both international and domestic research literature is reviewed by dividing six parts. The first part introduces the conception of peri-ur-banization area and its driver factors. Then in the second and the third part, the paper expatiates on the progress in the non-agricultural land-use in peri-urban area on land-use problems in the research area, while the fifth part reviews the integrating ways of non-agricultrual land-use. Finally, recommendations for further study are draw with specific reference to the current and future position of non-agricultural land-use study in peri-urban area.     

Culture-related differences in process efficiency in corporations as a competitive factor

This paper focuses on cultural influences on the effectiveness of organizational processes in companies. At this time, there is a predominant emphasis on culture-related differences of processes and workflows in companies in the main body of articles on cross-cultural management research. This paper proposes an extension of these research efforts in that case that the different efficiencies of these processes, resulting from cultural influences, should be examined in more detail. Based on the beginnings of organizational theory and with practical examples, it has been already verified that cultural influences shape organizational structures as well as organizational processes. This kind of fact should lead to the assumption that these cultural influences should also create differences in their efficiency, depending on what kind of culture the companies are. These differences in efficiency can be regarded as opportunities for success from which further competitive advantages can be derived. As that the examination of differences in efficiency of processes is still a rarity in the field of cross-cultural management research this should be developed further.