Does supply network location affect corporate investment efficiency?

Using social network analysis, we compute a firm's network position characteristics and then examine their effects on firm investment efficiency. The results show that both supply network centrality and structural holes have no significant impact on corporate overinvestment but can ease corporate underinvestment by alleviating financial constraints. The specific paths are as follows: a firm that has a high level of centrality or rich structural holes in the supply network is more likely to obtain commercial credit and bank loans; however, supply network position has no significant impact on equity financing.     

Determinants of the bid-to-cover ratio in Eurozone sovereign debt auctions

Building on a unique dataset of Eurozone sovereign debt auctions, this paper analyzes the determinants of their bid-to-cover ratios, which is the most common measure of the outcome of an auction. We find that the secondary market yield on the same maturity instrument, past domestic and foreign bid-to-cover ratios and occasionally the number of primary dealers tend to exert a positive effect on the current bid-to-cover ratio, while the opposite is the case for the supply and the volatility of the yield. The results thus suggest that past information helps to predict the demand in auctions.     

The buyers’ perspective on security design: Hedge funds and convertible bond call provisions

We provide evidence that security design reflects the interplay of capital supplier and security issuer preferences. While call provisions have historically been the default option in convertible security design, only a minority of post-2005 issues are callable. Because hedge funds dominate the market for new convertibles today and because convertible arbitrage is less risky without callability, the recent diminution in the frequency of call provisions in new convertible bond issues illustrates the importance of the preferences of the suppliers of capital in security design.     

农民专业合作经济组织问题探析——基于博弈理论的实证分析

农民专业合作经济组织是农产品供应链体系健康发展的基础环节和重要保证。运用博弈理论和实证研究,揭示了农民专业合作经济组织发展的内在规律和现实困境。认为需要采取加深博弈主体认知程度、强化对博弈主体的监督和支持力度、形成以产权为基础的三方利益联结机制等措施,来保障农民专业合作经济组织的健康发展,保障农民获得产业链正常利润,推动农业产业化高效运转。     

基于产品专用性差异的农产品供应链协同机制研究

在产品专用性差异情况下,通过构建一个农户—公司灰色博弈模型,探讨了农产品供应链在动态价格下的协同稳定机制,并通过案例分析了协同机制模型的合理性与有效性。     

货币流通速度的再认识——对我国1992-2008年交易流通速度的分析

本文考察了我国1992—2008年期间交易流通速度的变动特征。研究发现,我国交易流通速度的波动具有较明显的顺周期特征,且2000年以后,交易流通速度与收入流通速度的同步波动性消失,二者出现发散趋势。对于交易流通速度的分析可以更好地指示货币需求的变化,为我国货币供给规划以及货币政策的实施提供参照。     

供应链管理视域下的政府采购初探

政府采购不同于一般商业采购活动,政府采购的主体链和运作链具有涉及主体多、环节复杂等特点,体现了国家利益和政策要求,服务于国家宏观调控。为建立符合当今要求的高效型政府,在政府采购供应链管理上,需要完善有关法规,实施集成式物流、信息流、资金流管理,夯实政府采购内部管理基础;实行供应商的集成管理、准时采购和高效库存管理,以提高政府采购效率。     

RFID技术在供应链风险可控环节中的应用研究

供应链运作过程中存在有许多风险因素,在诸多引起风险的因素中存在有可控环节。RFID技术以其存储信息量大,无接触准确读取,移动物体识别等优点,可应用于供应链风险可控环节中,从供应的源头,有效规避、降低和防范供应链风险,提高供应链的效率和安全。     

Channel relationship factors in cross-cultural contexts: Antecedents of satisfaction in a retail setting

Recent meta-analyses of the channels relationship literature show gaps in the research. The current study seeks to fill several of those gaps by examining the effect of cultural characteristics on relational constructs in retail buyer-supplier settings in the U.S. and Japan. The study also investigates the under-researched construct of conflict, and the role conflict plays in mediating relationship satisfaction. Results of the analysis of structural equation models indicate that for the antecedents of conflict, little differences exist between cultures. However, differences in how those antecedents affect conflict and conflict's role as a mediator are elucidated.     

Learning from Project Failure: Globalization Lessons for an MNC

We study a multinational corporation's (MNC) failure in implementing a firm‐wide information technology system (ITS) project. To counter heightened competitive pressures, the MNC sought to improve its supply chain responsiveness by implementing the ITS project. However, since the headquarters (HQ) personnel lacked nuanced understanding of the micro issues in the subsidiaries, their design efforts turned out to be inadequate. Organizational practices that restrict member behavior to recipes from past knowledge served to amplify the problem—by disfavoring cooperation. Our study suggests a need to rethink the notion of the HQ as the design place. Further, there is a case for subsidiary personnel being afforded a greater say in design of changes to their work processes, given their higher exposure to process variety. This may offset the HQ‐subsidiary power imbalance noted in prior literature. © 2015 Wiley Periodicals, Inc.