Adverse selection,commitment and exhaustible resource taxation

This paper studies the contractual relationship between a government and a firm in charge of the extraction of an exhaustible resource. Governments design taxation scheme to capture resource rent and they usually propose contracts with limited duration and possess less information on resources than the extractive firms do. This article investigates how information asymmetry on costs and an inability to commit to long-term contracts affect tax revenue and the extraction path. This study gives several unconventional results. First, when information asymmetry exists, the inability to commit does not necessarily lower tax revenues. Second, under asymmetric information without commitment, an efficient firm may produce during the first period more or less than under symmetric information. Hence, the inability to commit has an ambiguous effect on the exhaustion date. Third, the modified Hotelling's rule is such that an increase in the discount factor does not necessarily reduce the first-period extraction.     

The effects of board structure on corporate performance: Evidence from East African frontier markets

The effectiveness of the well-known corporate governance practices may not be universal due to fundamental differences in the environments under which firms operate. By using hand-collected data from all the non-financial firms listed on the unexplored East African frontier markets (i.e., Kenya, Tanzania and Uganda), we examine the effect of board characteristics on the performance of firms. Our results show that board size has a negative and significant effect on firm performance. The presences of foreigners and civil servants on the board play positive roles on financial performance, where the agency and resource dependence theories apply. Further, we find that board members with higher education also contribute to firm performance. These findings still hold when we consider the 2008–2009 financial crisis period. Overall, we show that in a business climate where ownership is largely dominated by few shareholders, the conventional governance mechanisms do not work effectively.     

Intermediate units in multinational corporations: A resource dependency view on coordinative versus entrepreneurial roles

Due to the dispersion of headquarters’ activities across organizational and geographical boundaries, intermediate units (IUs) are emerging as a key actor of international business. IUs are intermediate structural layers between headquarters (HQ) and local subsidiaries with specific HQ responsibilities. Our study relies on original data of 67 IUs and, taking on a Resource Dependence approach, explores empirically the two HQ roles attributed to IUs: coordinative versus entrepreneurial. According to our results, the main differences between both roles relate to external network embeddedness, internal network position and autonomy. We argue that these differences arise from the dominant sources of power in each role. These findings have signi?cant relevance for theory development and managerial practice as we provide a starting point for understanding the dispersion of complex HQ systems as well as how those systems are discharged and add value.     

A model for planning locations of temporary distribution facilities for emergency response

We propose a network flow model for dynamic selection of temporary distribution facilities and allocation of resources for emergency response planning. The model analyzes the transfer of excess resources between temporary facilities operating in different time periods in order to reduce deprivation. Numerical analysis shows that the location of temporary facilities is determined by the demand and supply points. This work contributes to the emergency response planning that requires a quick response for the supply of relief materials immediately after a disaster hits a particular area.     

Climate change,fossil fuel prices and depletion: The rationale for a falling export tax

This paper examines how world prices affect depletion of exhaustible fossil fuels for export and the role of an export revenue tax in curbing depletion. Both effects are studied for a small open economy affected by climate change. We find that setting an export revenue tax rate to fall over time at the marginal social cost of depletion due to lower productivity from climate change encourages a resource exporter to leave an optimal stock in the ground – unextracted and unburnable. Growing prices during the past decade similarly curb depletion. Falling prices bring forward extraction. Because production is independent of consumption, the marginal social cost is independent of utility parameters which are difficult to estimate. Slowing fossil fuel extraction and the effective export of emissions is a contemporary challenge for climate policy. Our findings identify both why an export revenue tax should decline over time and an estimable target rate of decline to help meet this challenge amid changing world prices.     

要素禀赋、政策支持与金融资源配置:产业转移的承接模式研究

本文以商务部认定的湖南、江西省四个加工贸易梯度转移重点承接地为样本,对比分析要素禀赋、政策支持和金融资源配置的异同及其影响,在总结归纳各自承接模式的特点的基础上,提出了"精品园区+核心企业+直接融资+金融助推"的较优模式,认为政策支持是影响承接产业转移的直接因素;要素禀赋的影响力有弱化趋势;金融资源配置是影响承接力和产业结构优化升级的重要因素;对待处于不同生命周期的产业转移企业,承接的工作重点应各有侧重.因此,承接产业转移要与"转方式、调结构"的战略方向一致.注重与本地的产业互补相结合,并需要金融部门的主动参与和服务创新.     

面点品种在宴席中的合理配置

面点是宴席的重要组成部分,每道面点的配置都要从宴席的整体考虑,在数量、质量、口味、形态、色泽等方面精心组合,同时也要考虑宴席的级别、地方特色、风俗习惯等方面。只有从多方面考虑宴席面点的配置,才能达到良好的效果。     

Framing the usefulness of eHRM in talent management: A case study of talent identification in a professional services firm

As talent management evolves from intuitive to evidence‐based decision‐making, the role of electronic Human Resource Management (eHRM) to gather, distribute, and analyze data becomes more critical. However, surprisingly few academic studies investigate the role of technology in talent management. Drawing on a qualitative case study of talent management in a large professional services firm, this paper critically examines how eHRM information technologies are framed as useful within talent identification discourses. The findings reveal two distinct but interrelated sets of processes employed to identify talent and suggest that the perceived usefulness and centrality of eHRM are influenced by how stakeholders shape their understanding of effective talent management. Copyright © 2016 ASAC. Published by John Wiley & Sons, Ltd.     

The impact of partner diversity within multiparty international joint ventures

Despite the significant role that multiparty international joint ventures (MPIJVs) play within multinational enterprises, we know little about the significant challenges associated with the management of these ventures. Therefore, we combine the Resource-based View of the Firm and Transaction Cost Economics to investigate the effects of the key aspects of partner diversity (i.e., variety, balance, and disparity) on MPIJV dissolution. We test our hypotheses using a dataset of 248 MPIJVs in China. We find empirical support for a U-curve shaped effect of variety and a negative linear effect of balance on MPIJV dissolution.     

Is more better? The relationship between meeting space capacity and hotel operating performance

This study examines the effect of meeting space capacity on hotel operating performance. We use Resource-Based View (RBV) of the firm as the theoretical foundation. We employ a national-level dataset with more than 20,000 hotels in the United States for the 2007–2012 period. We find that meeting space has a non-linear effect on hotel operating performance. That is, at low levels of meeting space, meeting space capacity is negatively related to hotel operating performance. At high levels of meeting space, meeting space capacity has a positive influence on operating performance. These findings provide insights for hotel owners, developers and practitioners in planning hotel meeting space capacity.