印尼航空业起伏录

印尼政府很早就对航空业取消了管制，最初，这的确促进了航空业的繁荣，航空业发展前景喜人，印尼开放的天空中出现了众多大型外国投资商人的身影。根据印席尼西亚航空局的统计，印尼共有19家国内航空公司，向约3400万乘客提供服务。该机构预计，到2010年，每年将有5400万旅客选择飞机出行，而在1999年，这个数字仅为640万。     

Strategic participation and the median voter result

In a seminal paper on electoral equilibrium under majority rule, Ledyard (1984) demonstrates that strategic participation by voters results in an electoral equilibrium at the proposal that maximizes the utility of a randomly selected voter. Palfrey and Rosenthal (1985) limit the usefulness of this result by showing that strategic participation rates are miniscule in large electorates, and that the incentive to participate vanishes completely as the electorate grows without bound. The most reasonable modification of Ledyard’s approach that circumvents these criticisms is to allow for a negative cost of voting. We show that when voters can have even an arbitrarily small negative cost of voting, there is an electorate sufficiently large so that any proposal is defeated or tied by the median proposal. This observation raises questions about the existence of electoral equilibrium under strategic participation, and is relevant to the efficiency of elections.     

A model depicting the relations among perceived stressors,role conflict and organizational commitment: A comparative analysis of Hong Kong and the United States

As managers and employees from different cultures begin to encounter one another in the workplace, the need arises to understand how organizational variables relate differentially based on one's culture. This study attempts to provide a preliminary examination of the relationship between stressors, sources of conflict and job commitment across two differing cultures, specifically the United States and Hong Kong. Although more similarities than differences between the two cultures were found, this study provides at least preliminary evidence that members of different cultures may perceive some stressors differently and exhibit different relationships between stressors and work attitudes.     

Bid‐ask spreads,volatility, quote revisions,and trades of thinly traded futures contracts

We investigate intraday bid‐ask spreads (BAS), volatility, and trading activity of thinly traded equity index futures contracts on the Singapore Exchange. Contrary to previous findings, we find a rather flat BAS pattern during the trading day. However, consistent with past findings, an increase in risk widens the spread and a higher trading activity reduces it. When trading occurs in a day, spreads are reduced. No significant difference in volatility between days with and without trades was detected. When trades occur, quote revisions increase, and it is positively related to the number of trades. An increase in the number of quote revisions increases the likelihood of a transaction, and when quotes are current, revisions that are accompanied by trades carry new information. We provide evidence that contracts that are thinly traded may possess liquidity attributes as long as their price quotes remain current. © 2003 Wiley Periodicals, Inc. Jrl Fut Mark 23:455–486, 2003     

Local economic strategies and area based initiatives — another view of improvement areas

In this continuing discussion on the role of industrial improvement areas the author extends the arguments to suggest how IIAs could be a progressive planning tool linking economic, property and land-use strategies.