The price adjustment and lead-lag relations between stock returns: microstructure evidence from the Taiwan stock market

This paper investigates the price adjustment and lead-lag relations between returns on five size-based portfolios in the Taiwan stock market. It finds evidence that the price adjustment of small-stock portfolios is not slower than that of large-stock portfolios. Additionally, limited evidence supports a positive leading role of large-stock portfolio returns over small-stock portfolio returns. These two findings are substantially different from the results of previous research on developed markets.     

Independent Movement or Government Subcontractor? – Strategic Responses of Voluntary Organizations to Institutional Processes

The purpose of this paper is to identify factors that can explain differing responses of voluntary organizations to the pressure of homogenization that follows from interaction with public authorities. The paper is theoretically based on institutional organization theory and resource dependence theory, and empirically on research on voluntary organizations in the social sector. It is asserted that the following factors may explain voluntary organizations' ability to maintain autonomous in relation to public organizations: the characteristics of the organizational field, the focal organization's relations to the dominating organization in the field, organization characteristics and intra–organizational processes and strategies.     

Formal business process engineering based on graph grammars

Designing and managing a company's specific landscape and its business processes has been identified as a great challenge for several years. Business processes are highly dynamic and distributed and can only rarely be planned, modeled and analyzed completely. For a computer-aided business process system, which supports the designing and managing process, first of all a powerful uniform formalism is necessary, where all necessary knowledge concerning company's and its processes can be represented. In this paper we will concentrate on the introduction of such a formal methodology to describe business processes, company organization structures and information technology structures in one uniform formalism. The ideas we use are mainly based on methods from graph grammars, process management, Artificial Intelligence and business process (re)engineering.     

半导体存储器及发展趋势

半导体存储器的容量和速度决策着计算机系统运行速度。目前CPU芯片18个月一更新，为了赶上这个速度，半导体存储器的发展也日新月异。     

对我国取消农业税及相关问题的探讨

2004年起我国将在五年内取消农业税,并对粮食生产予以一定的补贴,这是我国税费改革中一件历史意义的大事,必将对我国农村经济的发展产生重大而深远的影响.为此,必须正确认识税费改革的意义,为要保证改革成功应坚持减轻农民负担、实事求是、走群众路线三条原则,正确处理各方面关系.     

以特色产业打造现代城镇形象

在市场经济条件下 ,城镇之间的竞争 ,往往最终体现在特色之间的竞争。塑造城镇特色 ,最理想的办法还是用产业来打造特色城镇 ;本文论述了以产业打造特色城镇的步骤和以产业打造特色城镇需要重视的问题。     

Parallel sourcing and supplier performance in the Japanese automobile industry

Japanese auto makers are reported to enjoy high supplier performance through long-term relationships, specific investments, and sole sourcing. Quality management consultants in the U.S. have been strongly advocating adoption of these practices. But economic and management theorists would predict that the combination of a high level of relationship-specific investments and sole sourcing will lead to problems with supplier performance. In fact the Japanese auto makers use a hybrid form of organization we term parallel sourcing. We present a transaction costs model that shows how parallel sourcing provides incentives for supplier performance associated with multiple sourcing while preserving claimed benefits of sole sourcing.     

Towards a complete real-time electricity market design

The general design for the real-time electricity market presented in this paper optimizes and prices both real and reactive power simultaneously in an AC setting, where all assets—generation, load and transmission—are allowed to bid and are financially settled at the locational price times energy consumed or produced. The result is that transmission lines are compensated for both capacity and admittance, providing incentives for efficient operation of transmission-related assets such as FACTS devices, if price-taking behavior is assumed. Losses are incorporated into the design and become an operating cost for transmission. The market design is shown to be revenue neutral and, under some assumptions, nonconfiscatory.      

劳动合同法实施对民营企业劳动关系的影响

规范劳动合同,是合理配置劳动力资源,稳定劳动关系,促进社会生产力永续健康发展的重要手段。《劳动合同法》颁布前,由于劳动法及相关的法律规章规定得过于原则,劳动合同制度落实得并不理想,尤其是民营企业存在不少问题。即将生效实施的《劳动合同法》,强化了书面劳动合同形式,扩大了无固定期限劳动合同及经济补偿金的适用,增加了许多法律责任的规定,必将对民营企业劳动关系发挥重大影响,促进稳定规范和谐劳动关系的建立,有力推动和谐社会的建设。