股权金融市场、增长方式选择与平衡增长：传统与新兴部门视角*

为探究股权金融市场对增长方式选择和平衡增长的影响，本文基于传统与新兴部门的差异，构建动态理论模型并利用“Simulink”技术进行数值模拟分析。理论分析发现股权金融市场效率对平衡增长具有增长效应且存在门槛条件，效率高于门槛值时股权金融市场发展将提高平衡增长率和创新贡献率。总体上，发展股权金融市场将促进我国平衡增长和增长方式转变，但东、西部地区存在差异，发展股权市场可以加快东部地区创新型增长而对西部地区没有显著作用。     

Corporate brand strategy: Drivers and outcomes of hotel industry’s brand orientation

The MNC resellers are vastly competitive and capital-intensive. Based on the corporate brand orientation, the objective is to investigate how the individual dimensions of hotel industry’s brand orientation can improve a corporate experience and subsequently create superior hotel performance and retailer preferences. A model of the integration of the hotel industry’s brand orientation was tested in a survey conducted among MNC resellers from hospitality industry. Structural equation modelling was applied to gain insight into the various influences and relationships. The research makes two main contributions. It makes a theoretical contribution by classifying the integration of the hotel industry’s brand orientation for hospitality industry and from this extrapolate key suggestions for further study. The continuous evolution and economic influence of the hospitality industry require the application of innovative marketing practices.     

Welfare and equity impacts of cross-border factor mobility in Bangladesh: A general equilibrium analysis

We develop a dynamic computable general equilibrium model with cross-border factor mobility to assess the impacts of a foreign wage shock and the effects of counteractive policy measures in Bangladesh. The model features migration of workers and foreign direct investment (FDI) in the ready-made garments (RMG) sector. Our simulation results show that returning migrants induced by a foreign wage fall would reduce household welfare by lowering wages and increasing unemployment, particularly for unskilled workers in the domestic labor market. To counteract this negative shock, FDI promotion in the RMG sector and a human-capital development program are considered. The former policy minimizes the negative impacts of the foreign labor market shock, while a combination of both policies is more equitable.     

Will We Ever Meet Again? The Relationship between Inter-Firm Managerial Migration and the Circulation of Client Ties

A large body of research shows that the migration of managers from one professional service firm to another weakens the old employer’s relationship with its clients, because migrating managers remove their relationship-specific knowledge and expertise – i.e., human and social capital – from their old employers, redeploying it to their new employers. This study extends this research by introducing a bi-directional perspective of social capital in which both firms and managers may exploit these relationship-specific resources. We use theory on social capital to build arguments about how one form of manager mobility, manager migration between two service providers in a single market, can both lead and lag the movement of client ties between those providers, and signaling theory to hypothesize the conditions under which this is likely to occur. Analyses using longitudinal data on New York City advertising agencies generally support our arguments. Our findings contribute to theory and research on manager migration, social capital, and signaling, and raise new questions for how the portability of relationship-specific social capital shapes markets.     

An agile marketing capability maturity framework

This work proposes a four-stage maturity framework for the development of an agile marketing capability (AMC) in the context of MICE tourism. Through an inductive study based on 16 semi-structured interviews with CEOs and managers, we provide a snapshot of organizations at varying levels of maturity in the management and development of AMC based on the degree of “sophistication” undertaken in approximately four dimensions (customer-oriented responsiveness, high flexibility, human collaboration, quick and continuous improvement). Recommendations to further enrich the debate toward this novel line of inquiry are presented. This study also has important implications for managers, offering a useful tool to assess and improve their marketing efforts to develop AMC and achieve greater abilities to adapt to dynamic and fast-changing environments.     

Multidimensional brand equity and asymmetric risk

The authors investigate the extent to which central customer-based brand equity dimensions (Differentiation, Relevance, Esteem, Knowledge, and Energy) influence a firm’s systematic risk (i.e., beta) during both market upturns and downturns. The results demonstrate that aggregating upside and downside beta or different dimensions of brand equity masks the true associations which can be seen only in the disaggregate analyses. The authors find that Relevance and Knowledge play roles as stabilizers, showing negative relationships with both upside gains and downside risk, while Esteem plays the role of protector, showing a negative relationship with only downside losses and not influencing upside gains; Energy acts as a booster, being positively associated with a firm’s potential gains in a period of market growth without increasing the firm’s expected losses during a bad market. The positive relationship of Energy with aggregate risk could be misleading as it hides the beneficial effect of Energy as a booster. The authors also find that Relevance is the most important consideration when people make choices in bad market situations, while Energy becomes the most crucial deciding factor in good market situations. Taking advantage of the multidimensional constructs of brand equity while allowing for the asymmetrical characteristics of risk enables managers to capture the differential role of each brand equity dimension in influencing firm risks, which leads to more sophisticated strategic decisions regarding risk management. In addition to general brand strategy, the authors provide tailored brand strategies to firms from different industries or with different financial characteristics.     

中国农村特色扶贫开发道路的制度分析：基于产权的视角

研究目标：借鉴马克思及西方产权理论主要思想，研究揭示中国农村特色扶贫开发道路的制度选择及经验。研究方法：基于产权理论对经济事实进行逻辑推演，并采用1978~2012年中国农村统计数据进行检验。研究发现：中国农村特色扶贫开发道路主要体现在农村资源（土地和人力）的产权制度改革上，由此形成的资源产权激励效应和正向扩散效应，正是中国农村人口发生大规模减贫的最重要原因及主要经验，并构成了中国特色社会主义制度的一部分。研究创新：本文基于产权理论的研究为减贫提供一个新的微观制度视角解释。研究价值：总结提炼中国农村特色扶贫开发道路的一般性理论经验，对今后减贫事业推进具有借鉴意义。     

Determinants of China's bilateral trade balance in global value chains

This paper identifies the determinants of China's bilateral trade balance using a new measure based on international input–output data, the so-called ‘trade in value-added’ (TiVA), which can prevent double counting in the estimation of bilateral trade balance. Our results show that using a measure based on gross exports, rather than TiVA, causes relatively large overestimation of the impact of the RMB exchange rate on China's bilateral trade balance. This overestimation is mainly because that the increasing production of exports may require increasing intermediate imports as a consequence of international fragmentation of production in global value chains. In addition, our results also show that the impact of FDI inflows on China's bilateral trade balances depends on the position and role of China and its trading partners in GVCs.     

Differentiating two types of learning in contract design: Evidence from the construction industry

This research investigates the learning of inter-organizational contract design in greater depth. Two types of learning, i.e. learning from all past partnerships and learning from one specific partner, are distinguished in terms of their influence on the complexity of three different functions of the contract, namely control, coordination, and adaptation. Contract design capability and interorganizational routines are employed as mediators to explain the two types of learning respectively. Empirical tests using data from the Chinese construction industry reveal that there are significant indirect effects between partner-specific experience and contractual coordination, and between general partnership experience and all the three functions of the contract. This research contributes to the literature by providing more nuanced conclusions regarding the contract learning issue.     

基于项目驱动的《Oracle数据库应用》教学改革探讨

《Oracle数据库应用》是独立院校根据社会需求开设的一门专业课程,本文从《Oracle数据库应用》教学实际出发,分析了传统的数据库教学模式与Oracle教学实际产生的矛盾,并根据多年的教学经验提出了教学改革思路,同时把这种思路在实际教学中得以逐渐的渗透,旨在更能调动学生学习积极主动性,培养学生创新拓展能力。