Good disclosure,bad disclosure

We study real-efficiency implications of disclosing public information in a model with multiple dimensions of uncertainty where market prices convey information to a real decision maker. Paradoxically, when disclosure concerns a variable that the real decision maker cares to learn about, disclosure negatively affects price informativeness, and in markets that are effective in aggregating private information, this negative price-informativeness effect can dominate so that better disclosure negatively impacts real efficiency. When disclosure concerns a variable that the real decision maker already knows much about, disclosure always improves price informativeness and real efficiency. Our analysis has important empirical and policy implications for different contexts such as disclosure of stress test information and regulation of credit ratings.     

环境知识学习、绿色创新行为与环境绩效

基于长三角地区367家制造企业有效样本,分析环境知识学习、绿色创新行为与环境绩效三者之间的内在关联。结果表明,环境知识学习对绿色创新行为和环境绩效均具有正向影响;绿色创新行为对环境绩效具有正向影响;绿色创新行为在环境知识利用性学习与环境绩效间发挥完全中介效应,而在环境知识探索性学习与环境绩效关系间发挥部分中介效应。结论揭示了环境知识学习与环境绩效之间的内在作用机制,拓展了组织学习与环境管理等领域的理论空间,对企业实施绿色发展战略具有启示意义。     

学习、环境与在孵企业创造力:网络边界视角

网络化边界为创业模式与情境要素变革背景下的组织学习效力分析提供了更具时效性的研究视角。在孵企业为上述视角的落地,进而还原复杂情境下多维组织学习方式对企业价值创造活动的协同作用过程提供了丰富的实证脚本。基于235家企业的实证结果显示：内外部学习不仅能单独提升在孵企业创造力,还具有协同促进效应,而该过程会受到内外部环境的共同调节作用。孵化网络异质性越低、环境动态性越强,在孵企业内部学习与创造力间的正向关系越强;孵化网络异质性越高、环境动态性越弱,在孵企业外部学习与创造力间的正向关系越强。进一步对内外部学习协同效应进行调节作用检验,发现只有当孵化网络异质性低或是环境动态性弱时,才有利于发挥在孵企业内部学习与外部学习对创造力的协同促进作用。研究结论为组织学习、环境要素与创业孵化理论融合提供了较为完整的研究框架,并为创业企业学习战略与孵育机制设计提供了更具靶向性的决策依据。     

On economic applications of the genetic algorithm: a model of the cobweb type

This paper explores the idea of using artificial adaptive agents in economic theory. In particular, we use Genetic Algorithms (GAs) to model the learning behavior of a population of adaptive and boundedly rational agents interacting in an economic system. We analyze the behavior of a GA in two versions of a model of the cobweb-type, one in which firms make only quantity choices, and the other one in which firms first decide to exit or to stay in the market, and subsequently decide how much to produce. We present simulations with different coding schemes and interpret the rather surprising differences between the results for different setups by employing the mathematical theory for GAs with state-dependent fitness functions. In particular, we explain the relationship between coding and convergence properties of GAs.     

An assessment of the learning benefits of using a Web-based Learning Environment when teaching accounting

The impact and use of information and communication technology on learning outcomes for accounting students is not well understood. This study investigates the impact of design features of Blackboard¹ used as a Web-based Learning Environment (WBLE) in teaching undergraduate accounting students. Specifically, this investigation reports on a number of Blackboard design features (e.g. delivery of lecture notes, announcements, online assessment and model answers) used to deliver learning materials regarded as necessary to enhance learning outcomes. Responses from 369 on-campus students provided data to develop a regression model that seeks to explain enhanced participation and mental effort. The final regression shows that student satisfaction with the use of a WBLE is associated with five design features or variables. These include usefulness and availability of lecture notes, online assessment, model answers, and online chat.     

新创企业的即兴行为如何转化为惯例:创业学习与交互记忆系统的作用研究

在动荡的环境下,"即兴"是创业过程中的一种普遍行为,其在组织中的潜在价值吸引了越来越多的学者的关注。与此同时,"惯例"作为组织内部的一个核心要素,学者们已经开始意识到惯例在新创企业中的重要性。但是目前鲜有研究从本质上探讨新创企业即兴行为和惯例之间的关系。文章基于创业情境,首次验证了新创企业即兴行为和惯例之间的关系,并检验了创业学习和交互记忆系统在其中扮演的角色。运用162个新创企业数据进行实证分析发现,即兴行为对新创企业的惯例具有显著的正向影响;创业学习的两个维度,利用式创业学习和探索式创业学习,均在其中发挥了部分中介的作用;交互记忆系统在即兴行为和惯例的关系中具有显著的负向调节作用;同时,交互记忆系统显著调节利用式创业学习和探索式创业学习的中介作用。研究结论对新创企业惯例形成的研究具有重要的理论意义,对新兴经济背景下新创企业的生存和发展亦有重要的实践意义。     

学习导向、双元学习、新产品竞争优势与企业绩效

学习导向对于企业增强新产品竞争优势,提升市场表现有着积极影响。现有关于学习导向的实证研究多将其作为格式塔构念进行探讨,忽视了各构成维度间关系复杂性对企业绩效的影响,不利于深入理解学习导向战略实践过程。因此,将学习导向解构为学习承诺、开放心智及共享愿景3个维度,基于资源观理论框架,采用模糊集定性比较分析法,以211家中国企业为样本,探讨了学习导向绩效机制过程中影响双元学习、新产品竞争优势和企业绩效的多重因果路径。研究结论可为企业合理构建学习导向型组织,实践新产品开发策略提供理论支撑。     

综合英语课程基础阶段的教与学

综合英语课基础阶段的教学直接关系着英语专业的教学质量。营造语言环境,加强语言基本功训练,全面提高学生素质,是保证基础训练教学质量的关键之所在。     

Rational plunging and the option value of sequential investment: The case of petroleum exploration

The potential to invest sequentially in related assets creates a tradeoff between diversification and concentration. Loading a portfolio with correlated assets has the potential to inflate variance, but also creates information spillovers and real options that may augment total return and mitigate variance. We examine this tradeoff in the context of petroleum exploration. Using a simple model of geological dependence, we show that the value of learning options creates incentives for investors to plunge into dependence; i.e., to assemble portfolios of highly correlated exploration prospects. Risk-neutral and risk-averse investors are distinguished not by the plunging phenomenon, but by the threshold level of dependence that triggers such behavior. Aversion to risk does not imply aversion to dependence. Indeed the potential to plunge should be larger for risk-averse investors than for risk-neutral investors. We test the empirical validity of our theory by examining bidding activity in petroleum lease sales. We find significant plunging behavior across a broad sample of oil companies. We also find that privately-held firms pursue even more concentrated (less diversified) prospect portfolios than publicly-held firms—which we attribute to risk aversion rather than size.     

运用学习规则求解编组站静态配流问题的研究

编组站静态配流问题需要制定配流方案,明确出发列车的编组内容和车流来源。算法的思路是通过构建网络模型,将静态配流问题转化为固定费用的产销平衡运输问题,并将目标函数转化为求最小虚拟到达列车车辆数。首先设定虚拟到达列车并对其赋初值,把出发列车分为可欠轴与不可欠轴两类,在计算过程中调用学习规则保证出发列车满轴,最后求出虚拟到达列车的最小值,得到配流方案。通过简单的算例验证表明,该算法能够在有效的时间内求解大规模的静态配流问题,为静态配流问题提供一种新的方法。