温州机电产品营销人才需求调研报告

温州制造业转型升级对机电产品营销提出新的要求,课题组对温州地区机电行业企业进行了调查研究,掌握了温州企业对机电产品营销人才的需求状况,并在此基础上进行机电产品营销专业建设。     

论产品的精神增益

产品艺术设计中尚古之风，是一种物化精神的倡导和文化情操的表达。它不仅仅只是用来满足日常生活的需要，而且早已成为文人心智凝成的物化的情、意、诗、画。正在兴起的“非物质文化”设计思潮则致力于满足人的全面发展的需求，努力在高技术环境下探寻一种新的和谐。     

中国木质家具出口贸易与汇率波动关系研究

木质家具是我国最重要的出口林产品之一。人民币汇率改革后,人民币总体呈升值趋势,这一趋势提高了国产木质家具的出口价格,会产生阻碍出口的作用;与此同时其也会使进口原材料价格相对降低、促进原材料的进口,二者相互作用会共同影响木质家具出口额。通过建立回归模型,研究人民币汇率波动对中国木质家具出口贸易额的影响,结果表明人民币汇率与中国木质家具出口额呈负相关,但是通过人民币贬值来促进出口的策略并不明智。     

An integrated replenishment-recruitment policy in a sustainable retailing system for deteriorating products

Currently, retail facilities play a significant role both economically and socially for their contributions to job creation and to reducing unemployment. In this paper, economic, environmental, and social issues, including unemployment, job creation for the local workforce within their hometown, the immigration of an unemployed workforce, and the naturalization of non-natives are addressed for a retailer. We explore the class of deteriorating products from the viewpoint of its economic and environmental features. Then, a linear multi-objective mathematical model is developed to determine an integrated replenishment and recruitment policy for the retailer in the direction of sustainability. Using data from the flower industry, a numerical analysis is presented. The results indicate that if necessary facilities and infrastructures are provided to permanently settle qualified immigrants, both social and economic indicators will be improved. We also determine that by concentrating on strategies such as job creation for natives through retail facilities with no increase in production capacity and by applying careful policies for immigration and naturalization, social welfare can be improved.     

Monetary Policy Uncertainty and the Response of the Yield Curve to Policy Shocks

This paper studies the nonlinear response of the term structure of interest rates to monetary policy shocks and presents a new stylized fact. We show that uncertainty about monetary policy changes the way the term structure responds to monetary policy. A policy tightening leads to a significantly smaller increase in long-term bond yields if policy uncertainty is high at the time of the shock. We also look at the decomposition of bond yields into expectations about future policy and the term premium. The weaker response of yields is driven by the fall in term premia, which fall more strongly if uncertainty about policy is high. Conditional on a monetary policy shock, higher uncertainty about monetary policy tends to make securities with longer maturities relatively more attractive to investors. As a consequence, investors demand even lower term premia. These findings are robust to the measurement of monetary policy uncertainty, the definition of the monetary policy shock, and to changing the model specification.     

News sentiment and sovereign credit risk

We explore the impact of media content on sovereign credit risk. Our measure of media tone is extracted from the Thomson Reuters News Analytics database. As a proxy for sovereign credit risk we consider credit default swap (CDS) spreads, which are decomposed into their risk premium and default risk components. We find that media tone explains and predicts CDS returns and is a mixture of noise and information. Its effect on risk premium induces a temporary change in investors’ appetite for credit risk exposure, whereas its impact on the default component leads to reassessments of the fundamentals of sovereign economies.     

The price of going green: the role of greenness in green bond markets

In this paper, we empirically investigate how greenness information is priced in the green bond market. Our comparison of liquidity-adjusted yield premiums of green bonds versus synthetic conventional bonds indicates that, on average, there is no robust and significant yield premium or discount on green bonds. However, green bonds certified by an external reviewer enjoy a discount of about 6 bps. Furthermore, green bonds that obtain a Climate Bonds Initiative certificate show a discount of around 15 bps. The findings suggest that a universally accepted greenness measure can benefit the development of the green bond market.     

Pricing,greening, and transparency decisions considering the impact of government subsidies and CSR behavior in supply chain decisions

In this paper, we analytically model different government subsidy strategies in a supply chain manufacturing and selling a green product. We model the interaction between greening degree and transparency level set by a manufacturer and its impact on not only the supply chain, but also consumers and the government. The supply chain is composed of a manufacturer and a retailer. The manufacturer can choose two different strategies. First, he only cares about his production profit; and second, he concerns with CSR in addition to his production profit. We develop a new transparency-based index of consumer satisfaction to model how the market reacts to manufacturer CSR decisions. The government decide three different subsidy strategies. A three-stage Stackelberg game model is developed and solved to analytically derive managerial insights. As a result, if the transparency cost coefficient is sufficiently high, the greening degree and transparency level in CSR concerns strategy are higher than when the manufacturer is not concerned with corporate social responsibility. In addition, when the transparency cost coefficient is sufficiently high, the profit of supply chain members and government are equal in both strategies. We give a real-world example of Iranian brick industry.     

How do consumers categorize new hybrid products?

This article investigates how consumers categorize new hybrid products (NHPs). Given the limitations of the classical theories of categorization in the specific case of NHP, affordance, mobilized infrequently in marketing, turned out to be a useful categorization concept. Five types of NHP categorizations by consumers, based on the degree of affordance (low vs. high) and type of innovation (incremental vs. radical), have been detected and filled a gap in the literature on the subject.     

Testing commodity futures market efficiency under time-varying risk premiums and heteroscedastic prices

We propose a novel test to measure market efficiency while estimating the time-varying risk premiums of commodity futures, given that the prices are heteroscedastic. The risk premium is estimated using a state-space model with a Kalman filter modified for heteroscedasticity. Using 79 commodity futures traded on 16 exchanges during the period 2000–2014 and a Monte Carlo simulation, we demonstrate that the proposal produces robust results compared with conventional approaches. The global financial crisis has improved the efficiency and affected the trading volumes of commodity futures, but it has had no effect on the average or the volatility of risk premiums.