分析师跟进决策的影响因素

证券分析师是资本市场不可缺少的组成部分。他们通过收集及传递各种对投资者决策有用的信息在投资者与公司间架起重要的信息桥梁。鉴于其在资本市场发挥的重要作用，学术界对分析师影响的研究由来已久，研究也较为系统和深入。相对而言，分析师跟进决策方面的研究较为欠缺且文献较为零散。与此同时，在我国，随着资本市场的不断发展以及机构投资者的不断壮大，分析师在资本市场中的影响日益增长，但分析师相关的研究却相当欠缺，弥补这一领域的空缺成为当务之急。本文的目的在于对国外这一领域的相关研究进行系统的梳理。文章在对分析师跟进活动的各流派的理论解释基础上，结合投资者法律保护等前沿研究结果，分别从宏观、中观、微观三个层面对分析师跟进决策的影响因素进行阐述，通过全面系统的文献梳理，为分析师行为在我国的研究开展提供一些参考。     

依托京津资源优势 促进张家口产业升级

本文从张家口自身所处的地理环境和经济发展模式入手,比照其他城市的发展理念,以一种全新的视角审视环首都经济圈对我市发展带来的机遇。并以此作为契机,从产业升级的角度探讨张家口市经济社会的发展。     

Relationship or revenue: Potential management conflicts between customer relationship management and hotel revenue management

The concepts of customer relationship management (CRM) and revenue management (RevM) have been embraced by managers in the hospitality industry although, in practice, companies may find it difficult to accommodate both fully. This paper examines the compatibility between the two practices and discusses the possible management conflicts that occur from both account managers’ and revenue managers’ viewpoints. Findings gathered from an international hotel company reveal several causes of potential management conflicts including: management goals, management timescales, perceived business assets, performance indicators and management foci between CRM and RevM due to divergence occurring in managers’ priorities and in their approaches to achieving their individual set goals. These differences have rarely been comprehensively investigated in previous studies, yet are vital in integrating CRM and RevM practices.     

Managing Customer Expectations of Restaurants

Based on past research in services marketing the authors develop a conceptual model of the antecedents of customer expectations of restaurants. The model was then empirically tested using the simultaneous equation procedures of LISREL 7. Data was collected and analyzed. Significant findings are discussed in terms of what restaurant managers need to do to properly manage the expectations of their customers to enhance patronage and profitability by ensuring customers are satisfied with the restaurant.     

The success and failure of policy-implanted inter-firm network initiatives: motivations,processes and structure

This paper examines the processes and causes of inter-firm network success and failure, defined in terms of the ability of networks to become a sustained and valued form of business activity for their members. The paper examines four different case study network initiatives: (1) a failed informal ‘new entrepreneurs' network’ (2) a successful informal ‘local cluster group’ (3) a failed formal ‘defence contractors' network’ and (4) a successful formal ‘small-firm technology group’. It is shown that networks in business are often consciously developed and maintained by those managing directors who have recognized the importance of cooperative activities for achieving competitive advantage for their companies. The best network support consisted of brokers who are able to mix and overlap the ‘hard’ business and ‘softer’ social interests of participants. The case studies indicate that it is formal groups that are the most potent form of inter-firm network, but that it is through an initially informal structure that they are best facilitated. It is concluded that both economic and social rationalities are at play in the motivation of firms to join networks, and that their success is closely connected to pre-existing commonality between members.     

Modelling of customer retention in multi-format retailing

The objective of this study is to offer a model of the formation process of loyalty towards the services provided by retail food companies. Specifically, the case of a Spanish company, which is a leader in the retail food market is taken. The company operates using different retail formats, and it has customers with various levels of loyalty and behavioural patterns. The research tries to determine implications for managing the loyalty towards the company. Different customer groups are analysed. Four working hypotheses are proposed and contrasted through the formulation and estimation of two theoretical models or conceptual maps. After the empirical analysis, the proposed models show a good fit, and the formulated hypotheses are confirmed. By using this kind of modelling, the companies that operate under the considered framework may reach significant conclusions prior to making decisions in the area of customer retention.     

试论服务战略的实施

服务战略的核心是把服务融入产品中 ,依靠各种服务和顾客关系的各种要素确立竞争优势。强调服务战略 ,并不是贬低技术质量战略、价格战略和形象战略的作用 ,而是把战略思考和管理决策的重心放在服务上。     

The role of MNCs in balancing the human capital 'books' between African and developed countries

The economic imbalance that exists between Western developed economies and African economies has resulted in retardation of human capital development in the African countries. The foreign direct investments that have freely flowed into Western economies have been the stimulus for the creation of jobs and the resulting educational infrastructure to generate qualified employees. Without this increase in human capital stock (i.e. in African countries) the ability of these economies to compete in the global, high tech, information economy of the twenty-first century is severely constrained. The paper examines the development of a human capital encompassing societal, organizational, and individual levels that can be stimulated by multinational organizations. The resulting positive impact on human capital in turn supports the growth not only of the African countries but also of the multinationals doing business in Africa.     

Private Label Vendor Selection in a Supply Chain: Quality and Clientele Effects

We model a supply chain consisting of a national brand manufacturer and an independent manufacturer, both of whom are potential suppliers of store brand to a single retailer. The retailer serves two customer segments—a quality sensitive segment (high type) and a price sensitive (low type) segment. The retailer serves these two segments by targeting the national and store brands to the quality and price sensitive segments, respectively. When the national brand manufacturer supplies the store brand he internalizes the effect of store brand quality on the national brand's retail prices. This leads the national brand manufacturer to choose a lower store brand quality than the independent manufacturer. This decrease in store brand quality has the benefit of increased revenues from the high type customers along with an associated cost of decreased revenues from the low type customers. Thus, when the benefit outweighs the cost the retailer chooses the national brand manufacturer to supply the store brand. We show that the retailer will choose the national brand manufacturer to supply the store brand when (a) the size of the high type customer segment is large relative to the low type customer segment, (b) the valuations of the high type customer segment is large relative to the low type customer segment, and (c) the retailer's margin requirement on the store brand is not very high. Overall, these results suggest that retailers who serve a bigger sized quality (price) sensitive clientele would have the national brand (independent) manufacturer supply the store brand.     

Consumption and the retail change process: a comparative analysis of toy retailing in Italy and France

Set in the context of a review and critique of the retail change literature, this study conceptualizes the importance of cultural diversity in consumption practices, and their dialectical interplay with retail structures. Underpinned theoretically by concepts located in Critical Theory and Bourdieu's studies of 'Distinctions', a grounded approach at a macro-level of analysis is applied to the comparison of the French and Italian toy retail sectors, which serves as an empirical illustration of the conceptual categories and relationships posited. In the comparative analysis of the French and Italian toy retail industry, the links between market structures and macro-economic and demographic factors, on the one hand, and localized consumption habits, on the other, are discussed, highlighting the interplay of the properties of the emergent retail activity and consumption categories of analysis. The impact of global sourcing and market entry of international retailers is assessed. Conclusions point to the importance of the forcefield between localized meaning and the dynamics of toy retail capital. It is argued that the commodity form of toys, together with the values attached to them and the role they play in childhood, is influencing the structures of national toy retail sectors which are also dependent on the overall retail system and broader environmental factors. In this, retail change processes take place as a result of the interactions between the different spheres and their particular expressions cannot be generalized across borders as they depend on the specific dynamics within each system.