女性高管对企业研发创新的影响：一个有调节的中介模型

企业创新是企业持续发展的内在动力,也是推动国家产业升级、建设创新型国家的重要举措.近年来女性高管比重不断提高,学术界开始关注女性高管对企业研发创新的影响.以沪深两市2010—2018年A股上市公司为研究样本,实证检验女性高管对企业研发创新投入的影响.结果表明:女性高管负向影响企业研发创新投入;其负向作用以风险承担为中介实现;企业所有制调节了中介过程的后半段路径.     

中小企业全面预算管理存在的问题与对策

在经济全球化的背景下,大部分企业都面临着巨大的竞争压力,尤其对于中小企业来说,在复杂环境下保持稳定发展更是一种挑战。构建全面预算管理体系是企业提升市场竞争力的重要手段,虽然预算管理流程通常只分为预算编制、预算执行控制、预算考核三大环节,但我国中小企业的全面预算管理还存在诸多问题。论文据此进行分析并提出解决对策。     

试论基于结构性减税降费的小微企业税收筹划路径

现阶段,我国针对经济的实际情况,推出了一系列减免税优惠政策,以此进一步推动经济的平稳发展,能够有效地帮助一些小微企业缓解经营过程中面临的压力。鉴于此,论文针对现阶段基于结构性减税降费的小微企业税收筹划路径进行分析和阐述。     

What motivates customers to shop in smart shops? The impacts of smart technology and technology readiness

With the rapid diffusion of smart technologies, a new retail mode, the smart shop, has received increasing attention from both academia and practitioners in the 5G era. However, previous studies on smart shops have largely focused on the effects of smart technologies on technology adoption rather than customer shopping behaviors. To fill this gap, this study applies the hedonic information systems acceptance model (HISAM) to identify the utilitarian and hedonic motivations affecting consumer shopping intention. In addition, we characterize a second-order formative construct, technology readiness, as a technology-related personality to test its moderating role in the research model in the marketing context when consumer behaviors may differ due to individual characteristics. Using structural equation modeling (SEM), we applied SmartPLS 3.2.8 to analyze 298 valid samples. The results show that perceived ease of use significantly affects perceived usefulness and perceived enjoyment, in turn, these three factors directly influence shopping intention. Additionally, perceived ease of use will have a stronger impact on perceived usefulness and shopping intention when the customer has a high level of technology readiness. Finally, theoretical and practical suggestions and future research directions are also discussed.     

探地雷达在公路改扩建工程检测中的应用

公路改扩建工程在广东省正处于快速发展时期,如何准确得到路面病害情况,是旧路处治方案制定面临的主要问题.依托开阳高速改扩建工程,采用三维探地雷达对旧路进行病害检测,得到道路表面及内部的病害分布情况,并分别与人工徒步调查路况及开挖后内部实际情况进行比对.结果表明:当三维探地雷达检测采样间距设置为2.0 cm、驻波时间设置为0.6 ms、时窗设置为85 ns时,可达到较好的检测精准度;三维探地雷达可实现对路面结构内部不同深度位置的裂缝病害进行探测,精确识别3 mm宽裂缝,并了解裂缝的发展方向及性质.     

Influence of acquirer boards on M&A value creation: Evidence from Continental Europe

We examine how the size and the composition of acquirer boards are associated with shareholder abnormal returns for 2,230 M&As made by listed firms in Continental Europe. Although board size proves insignificant, our findings do offer some evidence as to a beneficial effect of board diversity on M&A value creation. Gender diversity appears marginally positively associated with acquirer shareholder abnormal returns. The fraction of foreign directors is in general not significantly positive, unless the rule of law in the acquirer country is weak. Nonetheless, nationality diversity in the board turns out harmful in purely domestic takeovers. The influence of age diversity is marginally positive, yet only in domestic and horizontal takeovers. Next, the fraction of independent directors has a robust positive effect on the acquirer CAR, while directors with multiple board appointments prove valuable especially through preventing firms from pursuing poor takeovers. Finally, CEO duality is detrimental only in industry‐diversifying deals initiated by acquirers that are not controlled by an individual or a family shareholder. Any negative CEO‐duality effect is mitigated when the acquirer‐country rule of law is strong.     

中小企业人力资源管理中的劳动关系管理问题与优化策略

随着我国经济的快速发展,国家越来越重视中小企业人力资源管理中的劳动关系问题。为了进一步加强中小企业的人力资源管理,需要根据实际情况以人力资源战略规划和管理作为基础支撑,完善人力资源管理中的劳动关系管理工作,明确劳动关系管理的内涵。因此,论文针对中小企业人力资源管理中的劳动关系管理问题进行简要分析,并提出合理化建议。     

An Exploratory analysis of flight delay propagation in China

Delay propagation is the flight departure delay caused by the arrival delay of pre-segment flight. Chinese airline market has suffered very poor on-time performance (OTP) in recent years. It is, however, unclear whether delay propagation prevails as one major source for such problem. This study first aims to empirically quantify delay propagation in the Chinese airline market. Specifically, we shed light on heterogenous levels of delay propagations across different airports and airlines. Then, the distinct delay propagation patterns in China are also discussed and compared with other developed airline markets (e.g., the US and Europe). Our estimation is based on OTP data for over 12 million Chinese flights covering the 2015–2017 period. Specifically, it is found that 10 min arrival delay of pre-segment flight within 1 hr before the departure lead to an average of 7.49 mins delay propagation for subsequent departure flight. Arrival delay of earlier pre-segments (1–2 and 2–3 hr before the departure) leads to much less delay propagation, due to longer ground buffer. Chinese airlines arrange longer ground and flight buffer than that of the US airlines to prevent the delay propagation from accumulating along the subsequent flights in a day. Thus, unlike the US market, delay propagation is not the major reason for poor OTP in China. In addition, delay propagation is less prevailing at the Chinese hub airport. This is because China has relied on point-to-point network, which does not require sophisticated schedule coordination. And the local passengers at these Chinese hub airports have higher time value such that the Chinese airlines also try to improve OTP at these hub airports to better serve these lucrative but time-sensitive local passengers. Unlike the European LCCs, Spring Airlines, the largest low-cost carrier (LCC) in China, outperforms major full-service carriers (FSCs) in controlling delay propagation. This finding may also apply to other Northeast Asian LCCs sharing common operational characteristics as Spring Airlines. Last, we find that airlines purposely tolerate moderate departure delays of up to 15 min, which is the threshold that defines delays, no matter whether the pre-segment flight arrives late or on-time. The relevant policy and managerial implications are also discussed.     

Aircraft and passenger recovery during an aircraft’s unexpected unavailability

Airlines design their initial schedules under the assumption that all resources will be available on time and flights will operate as planned. However, some disruptions occur due to mechanical failures and unexpected delays of maintenance, making the aircraft unavailable for a certain period of time. These deviations from the initial plan result in high operational costs in addition to the serious inconveniences experienced by passengers. In order to handle aircraft and passenger recovery problems simultaneously, we work on integrated networks at which aircraft routings and passenger itineraries are superimposed. Consequently, we could calculate the actual profit and cancellation cost by evaluating each passenger itinerary while considering the seat capacity limitations. In our computational results, we use a daily schedule of a major U.S. airline and clearly demonstrate that there is an optimal trade-off between operating and passenger-related costs.     

The effects of oil price shocks on inflation in the G7 countries

This study examines the effects of three types of oil price shocks on inflation in the G7 countries with a new method of isolating oil price shocks. Based on monthly data from January 1997 to January 2019, we find that each oil price shock has the largest effect on U.S. inflation among the G7 countries and each country’s response to oil price shocks is different. Moreover, a rolling-window analysis shows that supply shocks, demand shocks and risk shocks have dynamic effects on inflation. The effect of supply shocks on inflation is strong before the financial crisis, but weakens during the crisis. However, the effect of demand shocks increases sharply in this time. The effect of risk shocks mainly occurs during the financial crisis and the European debt crisis. In addition, this study uses two ways to verify the robustness of the results. Our empirical results have important implications for policymakers and manufacturers, since the results provide a good explanation for the response of inflation in the G7 countries to the oil price shocks from different sources.