Risk management in public land development projects: Comparative case study in Finland,and the Netherlands

Public land development is an approach where the public authority acquires land for development, services the land with public infrastructure, and transfers the serviced building plots to private building developers or self-developing end-users. Motivations to use public land development can be divided to planning goal related motivations and financial motivations. In this paper, we study management of public risks related to the use of public land development by analysing case studies located in Finland and the Netherlands, countries known to have strong tradition in public land development. Our findings indicate that, whereas public land development has efficiencies in managing the risks related to the achievement of public planning goals, the management of the financial risks related to the public land development approach can be remarkably difficult even in countries with wide experience in public land development.     

基于GARCH模型的VaR方法在沪深300ETF风险测量的应用

交易所交易基金(ETF)在国际社会上被认为是长线投资、价值投资，规避风险的良好金融工具。中国股市投机炒作风气历来盛行，因此在投资领域有必要增强投资者对ETF的认知度和接受度。选用嘉实沪深300ETF作为研究对象，其所追踪的沪深300指数覆盖面广，基本体现中国沪深两市股市的收益状况。从其风险入手，运用GARCH模型研究分析得出该基金收益率的有效条件方差并结合VaR方法准确测量其风险价值，最终确定在95%的置信水平下GARCH(2,1)-t-分布模型能够最佳度量其风险价值。     

Quantifying the multifunctionality of fjord and mountain agriculture by means of sociocultural and economic valuation of ecosystem services

The objective of this study was to define the value of the main market and nonmarket functions of fjord and mountain agroecosystems in Nordic countries by means of the ecosystem services framework. First, we used qualitative methods (interviews of farmers and other stakeholders in the area of study) to identify sociocultural perceptions of multifunctional agriculture. Next, we used survey-based stated-preference methods to rank and value in economic terms the most important functions (corresponding to the four types of ecosystem services) according to the local (residents of the study area) and the general (residents of a nearby area) populations. The sociocultural perceptions of multifunctionality among local stakeholders were similar, but differences in the relative importance of the functions reflected particular interests (agriculture compared with tourism). Both the local and the general populations attached great importance to the production and availability of quality foods. The general population showed very homogeneous preferences among ecosystem services, but local people rated them very differently. Local people ranked a more agricultural landscape very high. The total economic value of fjord and mountain agroecosystem was 850 € per person per year. The willingness to pay for the provision of ecosystem services under a policy scenario of further development of multifunctional agriculture clearly exceeded the current level of public support. The welfare loss that society would experience in a scenario of further abandonment of agriculture was even greater. We discuss the establishment of payments for ecosystem services for addressing the undersupply of nonmarket functions of agriculture.     

价值工程在建筑工程施工项目经营管理分析中的应用

本文主要研究了价值工程在建筑工程施工项目经营管理分析中的具体应用,并找出了每一阶段最需控制的因素,明确了经营管理的目标控制方向。     

企业跨界创新：概念、特征与关键成功因素

跨界创新成为新时代企业持续创新发展的一种常见模式。跨界创新表意是指跨出熟悉的领域、跨入新领域，但实际上是指企业在跨界思维指导下，基于企业能力和内外可协调资源，以整合、连接企业内外部创新价值为目标，进行的组织系统重组活动。在解析企业跨界创新概念、内涵及跨界的原因、层次性、创新领域、创新形式等基础上，指出跨界创新成功的关键在于跨界者能力因素和组织重构水平。此外，跨界活动的组织合法性和跨界战略行为本身也是影响跨界创新绩效的重要因素。     

Situational and personal factors influencing hospitality employee engagement in value co-creation

This study explores the situational and personal factors affecting hospitality employees’ engagement in the co-creation of value. The concept of value co-creation emerged from the general co-creation literature, and little research has assessed how situational and personal factors enhance our understanding of value creation. To explore these underlying factors, a qualitative study involving in-depth and focus group interviews was conducted at three luxury hotels in Hong Kong and Macao. The research findings indicate five situational factors and five personal factors impact cocreated value for hotel guests in the luxury sector. Insights are provided into the potential use of these factors to better manage employee engagement and the customer experience to facilitate value co-creation. The implications of the study and directions for future research are discussed.     

Augmented reality shopping application usage: The influence of attitude,value, and characteristics of innovation

Consumers' intentions are crucial to the wide usage of augmented reality shopping applications (ARSAs). Combining innovation diffusion, perceived value, and attitude theories, this study proposes a theoretical model that identifies the antecedents of consumers' innovation to use ARSAs and specifies their interrelationships. A total of 379 consumers were surveyed using questionnaires, and the data were analyzed through confirmatory factor analysis and structural equation modeling. Results show that the effects of the perceived relative advantage, perceived compatibility, and perceived observability on consumers' intentions to use ARSAs are mediated by consumers' attitudes toward ARSAs. In addition, attitudes have an indirect impact on consumers' intentions to use ARSAs through perceived value. Theoretically, this study synthesizes behavioral theories anchored on innovation and marketing to explain consumer's use intention. Managerially, this study provides strategic recommendations for technology companies developing ARSAs and retailers wishing to adopt ARSAs.     

Hospitality employee and customer role in value co-creation: Personal,organizational and collaborative outcomes

With the growing frequency and importance of peer-to-peer service exchanges, the role of front-line employees for traditional hospitality service providers is changing. This study is the first to examine differences in value co-creation appraisal between front-line employees and customers. Respondents (N = 720) were equally assigned to either an employee or customer role and performed that role for four different online co-creation scenarios based on destination resort context: co-innovation, co-creation of marketing, co-production, and co-recovery. The results of between-within online experimental design were analysed using repeated measures ANOVA and PLS-SEM. Co-created value was appraised significantly higher by employees and positively affected well-being, satisfaction, and competitive advantage for both employees and customers. Co-created value served as a mediator between the four types of co-creation and outcomes only for customers. The study contributes to understanding roles as knowledge-based resources in value co-creation and provides practical implications for successful value co-creation in hospitality.     

Why should landowners in protected areas be compensated? A theoretical framework based on value capture

Many protected areas around the world are struggling to achieve financial stability and meet management costs, which is a difficult challenge. This difficulty is particularly acute in China, even though protected area conservation has been increasingly stressed upon in recent central policy announcements. The practice of providing supplemental funding for protected areas has been going on for years, but there is a lack of theoretical research on why and how landowners in protected areas could be compensated. This paper aims to fill the gap and make two contributions to the literature by explaining why landowners in protected areas should be compensated and who should pay for protected areas. The theoretical arguments on compensation for protected areas are first reviewed before we derive the theoretical framework of value capture for protected areas in China based on the principle of symmetry between burden and compensation. We conclude that local residents should be compensated according to the principle of equal public burden because the spatial regulation of protected areas has seriously restricted their land development rights. Furthermore, the beneficiaries of added land value in the process of the spatial regulation of protected areas can be categorized into three groups: the general public, residents around protected areas and some residents in protected areas (along the infrastructure site or in the upzoning area). Therefore, we structure a three-level value capture framework for protected areas. This is the first attempt to study compensation for protected areas based on value capture theory, which can provide guidance on protected area management for government leaders and researchers across the world.     

企业开放式创新社区创意采纳影响因素研究——价值共创视角

从价值共创视角出发，基于信号传递理论，整合消费者使用企业产品创造价值、消费者与消费者互动创造价值、企业与消费者互动创造价值3个层面，探讨开放式创新社区中创意采纳影响因素。通过对小米MIUI社区创意的文本挖掘与实证分析发现，消费者使用企业产品创造价值层面，创意信息熵和情感强度正向影响创意采纳，创意长度负向影响创意采纳；消费者互动创造价值层面，支持量正向影响创意采纳，浏览量和评论量负向影响创意采纳；企业与消费者互动创造价值层面，企业回复信息熵和回复情感强度与创意采纳呈正相关，企业回复长度与创意采纳呈负相关。由此，建议企业规范消费者创意提出形式，注重需求一致性与异质性带来的市场需求信号，通过有效回复策略提升消费者创意质量，从而形成促进价值共创的良性循环。