U.S. House Prices over the Last 30 Years: Bubbles,Regime Shifts and Market (In)Efficiency

This paper studies U.S. house prices across 45 metropolitan areas from 1980 to 2012. It applies a version of the Gordon dividend discount model for long‐run “fundamentals” and uses Mean Group and Pooled Mean Group estimation to estimate long‐run and short‐run determinants of house prices. We find great similarity across cities in that the long‐run house prices are largely explained by the same fundamentals; the long‐run rent to price ratio is approximately 5% plus 0.75 times the real interest rate (which is on the order of 2%). However, adjustments to deviations from the fundamentals are slow, in the long‐run, closing the gap at a rate of around 10% per year. We find sharp differences in short‐run adjustments (momentum) away from the fundamentals across cities, and the differences are correlated with local supply elasticities (more momentum with lower elasticity). Analysis of residuals suggests strong cyclical deviations, which are mean‐reverting.     

How to improve the university–industry collaboration in Taiwan's animation industry? Academic vs. industrial perspectives

This study demonstrates the use of importance–performance analysis (IPA) to prioritise the motivators that can facilitate university–industry collaboration in the animation industry in Taiwan. This study confirms that financial supports and education are still major reasons for academia to participate in the university–industry collaboration. Reducing costs and obtaining human training are the reasons for animation firms to join the university–industry collaboration. However, by comparing the results of IPA for academia and industry, this study recommends four common interest motivators from both academic and industrial perspectives and where efforts should be concentrated. Research facilities, external competencies, talents, and innovation capacity are very important for the animation industry of Taiwan.     

To blow or not to blow the whistle: the effects of potential harm,social pressure and organisational commitment on whistleblowing intention and behaviour

This study uses a rational ethical decision‐making framework to examine the influence of moral intensity (potential harm and social pressure) on whistleblowing intention and behaviour using organisational commitment as a moderator. A scenario was developed, and an online questionnaire was used to conduct an empirical analysis on the responses of 533 participants. The mean age and years of work experience of the respondents were 31 and 8.2 years, respectively. The results show, first, that while moral intensity is correlated with whistleblowing intention, only the potential harm is positively correlated with such intention. Second, potential harm and social pressure differentially affect whistleblower choice of using an internal or external channel. Third, organisational commitment has a moderated mediation effect among moral intensity, whistleblowing intention and behaviour. Fourth, whistleblowers may be grouped into four conceptual types: indifferent, rebel, mature and spoil. Finally, theoretical and managerial implications of the findings are discussed.     

人力资源服务业发展的新特点与政策建议

我国人力资源服务业专业化程度低，企业规模小，面临着一些亟需解决的体制性问题和障碍性因素。建议采取有力措施，解决制约我国人力资源服务业发展的突出矛盾和问题，推动人力资源服务业实现产业化、规模化发展。     

SCALE ECONOMIES OF THE FRANCHISED BUSES AND FERRIES OF HONG KONG, 1948–1998

The privatization of state transport operators has been driven by empirical discoveries in transport economic research of the constant or even diseconomies of scale of these operators. With reference to public records and official statistics, this paper is an initial attempt to examine the scale economies of and output relationship between major bus and ferry operators in Hong Kong during the period 1948–1998. The two franchised bus and two franchised ferry companies each experienced unique scale effects during different periods and correlated with each other in terms of production. The paper will also discuss the possible reasons for this phenomenon and policy concerns related to this finding.     

Celebrity Attachment and Behavioral Intentions: The Mediating Role of Place Attachment

Film‐induced tourism has recently gained increased attention in academic research. Although previous literature has identified the existence of consumer–celebrity attachment, scant empirical studies have examined whether celebrity attachment influences behavioral intentions in a film tourism context. The purpose of this study is to examine the relationship between celebrity attachment and behavioral intentions as well as to clarify the role of place attachment. Survey data from 312 tourists in Taiwan indicate that celebrity attachment is positively related to behavioral intentions. Moreover, place attachment partially mediates the relationship between celebrity attachment and behavioral intentions. Implications of these findings for managing marketing strategies as well as future research directions are subsequently discussed. Copyright © 2013 John Wiley & Sons, Ltd.     

民办高校办学特色培育的原则和内部保障机制

民办高等教育是我国教育事业不可分割的重要组成部分,办学特色培育是提升民办高校核心竞争力的关键。文章分析了民办高校办学特色培育过程中的现状和原因,进而论述了民办高校办学特色培育的五个原则和办学特色培育中民办高校内部应着重建立的培育机制。     

Evaluating green supply chain management among Chinese manufacturers from the ecological modernization perspective

Green supply chain management (GSCM) has become an emergent ecological modernization tool amongst Chinese manufacturers to balance environmental performance with productivity and business performance gains. Ecological modernization at the society level is influenced by restructuring policies and regulations. Some of these policies and regulations in China are focusing on enhancing energy savings and pollution reduction (ESPR). Based on a survey of 376 responses, we investigate whether different Chinese manufacturer clusters varying in their extent of implementing GSCM exist from this ecological modernization perspective. We also examine if Chinese manufacturers’ awareness of domestic and international environmental ESPR-oriented compliance is related to GSCM implementation and whether a mediating effect of regulatory pressure plays a significant role. The results highlight the varying pace of Chinese manufacturers to ecologically modernize with GSCM practices and the significance of regulatory pressure to diffuse the practices adoption by Chinese manufacturing industry. Implications of this research go beyond the manufacturers investigated in this study where similar occurrence of these relationships may exist in other regions.     

新自由主义思潮的全球化历程及其影响

新自由主义思潮在向全球扩张蔓延的过程中,对拉美、东欧和前苏联国家产生了巨大而深刻的影响。对新自由主义的危害,正处于改革发展关键阶段的中国应有清醒而足够的认识。     

控制权及投资者保护对掏空风险的影响——基于融资规模的经验证据

基于中国上市公司融资规模数据对上市公司的控制权与掏空风险的关系进行了实证分析,并探讨了投资者保护对掏空风险的抑制作用。研究发现:与国家终极控制的上市公司相比,私人终极控制的上市公司中掏空风险更高,因而融资规模显著高于前者;控股股东持股比例越高,掏空上市公司的动机越小,从而导致上市公司融资规模越低;其他大股东的制衡能力越强,控股股东掏空上市公司的可能性越小,因而上市公司融资规模越低;投资者保护水平越高,越能起到抑制掏空风险的作用。