市场环境、企业社会责任与基金安全投资转移

当市场环境不好以及不确定性增加时，基金进行安全投资转移。企业积极履行社会责任所形成的声誉资本具有“类保险”作用，在面临负面事件或不确定性环境冲击时能够防止股价大幅下跌和市值损失；基金是否会在市场环境不好时将投资组合转向社会责任绩效更高的股票进行安全投资转移呢？使用2010—2017年开放式基金样本，实证检验了企业社会责任、市场环境与安全投资转移之间的关系。研究发现，在市场环境表现不佳时，基金避险需求增加，倾向将投资组合更多地转向社会责任绩效高的股票进行安全投资转移；进一步研究发现基金和基金经理特征影响基金的安全投资转移行为，净资金流入较少、历史业绩差、经理选股能力差的基金根据企业社会责任进行安全投资转移的程度大。研究还发现，基金的安全投资转移行为对基金业绩和基金收益波动产生了积极影响。     

低碳视角下多式联运经济性能实例分析--以郑明物流为例

为了进一步研究铁路运输与其他运输方式开展多式联运的经济性能,在阐述多种运输方式性能差异的基础上,以郑明物流为例,通过分析其特定运输路线现有运输方式的能源消耗、碳排放量和运输过路费等指标,提出在不同月份和不同时期的多式联运优化方案,为物流企业开展多式联运提供借鉴。     

工作满意度、组织承诺与工作绩效之间的实证研究

在现代高强度的工作环境下,企业竞争越来越依靠于人才的配置。为了吸引和留住人才,越来越多的企业更加关注公司员工的感受和需求,在提高员工满意度的同时提高员工的工作绩效,保障企业的高效低成本运作。员工满意度、组织承诺、工作绩效是企业能否长时间留住人才的主要指标,对于企业人力资源管理有着重要意义。从理论上来说,通过实证研究可以具体量化三者之间的关系;从实践上来说,对三者之间影响关系的清楚认识可以为企业人力资源部门提供制度和政策上的指导,从而降低企业的人力成本、提高企业运作的效率。研究的主要内容为通过问卷收集的方法,以各类企业员工为研究对象,探究员工满意度、组织承诺和工作绩效之间的相关关系,建立员工满意度、组织承诺和工作绩效三者之间的量化研究模型。根据研究结果,给企业人力资源管理部门提出具有建设性的建议,以在减少成本的同时促进企业的高效运作,使企业更具凝聚力。     

资本要素市场化改革、对外直接投资与技术创新绩效

对外直接投资对母国产业的技术创新具有反哺促进效应,但同时受资本要素市场扭曲的调节作用影响。本文运用2003~2016年的面板数据,设定双因素基准模型并进行东、中、西部地区分样本回归以检验资本要素市场扭曲对OFDI的技术创新的调节作用。结果发现:OFDI通过逆向技术溢出促进了母国的企业技术创新绩效。同时,资本要素市场扭曲抑制了OFDI反哺技术创新绩效的正向作用,且资本要素市场扭曲对OFDI的技术创新的调节效应存在地区差异性。因此,深化要素市场化改革,调整对外直接投资结构和优化营商环境,是实现OFDI协调发展以推动技术创新绩效提升的有效途径。     

Supplier empowerment: Mediating situational factors and perceived performance

The understanding of the behavioral and cognitive factors that affect organizations' performance has attracted increasing attention of scholars and practitioners. Based on the literature of psychological empowerment at the individual and the team levels, this study develops the concept of supplier empowerment in the context of purchasing and supply management. Further, this study proposes a research model that explores the role of supplier empowerment as a cognitive concept in mediating the relationship between situational factors (a supplier's process modularity and the mutual trust with its customers/buyers) and the supplier's perceived performance in its operations and customer service. This model is tested with 208 responses from automotive industry suppliers. The findings highlight the importance of empowered suppliers in decreasing inventory levels and increasing order fulfillment performance.     

简析数据加密技术在计算机网络安全中的应用

随着我国科学技术的不断发展,计算机被广泛应用于各行各业的发展建设以及人们日常生活和学习中,在给人们带来较大便利的同时,也存在安全隐患。网络安全问题威胁到了计算机信息的保密性,给计算机的可持续发展带来了安全隐患,若用户的信息被泄露会给用户带来巨大的财产损失及心理伤害。因此,出现了数据加密技术,其为计算机网络安全提供了很好的保障。基于此,论文对数据加密技术在提高网络安全性中的应用方面作了简要阐述。     

Subsidies under uncertainty: Modeling of input- and output-oriented policies

Agricultural subsidies play an essential role in agricultural and rural development in many developed economies. Countries have implemented agricultural subsidy policies with a focus on food security and environmental protection. Agricultural production is risky and uncertain, influencing the efficiency of agricultural subsidies. This study develops a theoretical framework to analyze the effects of production uncertainties on the efficiency of agricultural subsidy policies under the double constraints of food security and environmental protection. The basic model is investigated under six different conditions, and expanded research also is presented. Our models show that uncertainty, including output, cost, and price uncertainties, and technology conversion efficiency significantly affects the efficiency of agricultural subsidies. Under high technology conversion efficiency, output-oriented subsidies are appropriate for food security and environmental protection goals. Policymakers should take both uncertainty and production efficiency into consideration when choosing between input-oriented and output-oriented subsidy policies.     

Does board gender diversity influence firm profitability? A control function approach

We investigate the relation between board gender diversity and firm profitability using the control function (CF) approach recently suggested by Wooldridge (2015). The CF method takes account of the problem of endogenous explanatory variables that have potential to bias the results. Using a sample of firms that made up the S&P 500 over the period 2004–2015, we find that the presence of women on corporate boards (measured either by the percentage of female directors on corporate boards or the Blau index of heterogeneity) has a positive and significant (at the 1% level) effect on firm profitability (measured by the return on assets). We compare our results to more traditional approaches (such as pooled OLS or the fixed-effects model). Through this study, we shed light on the effect of women on corporate boards on firm performance, as it is still a controversial issue (Post and Byron, 2015).     

A worldwide analysis of trend in crop yields and yield variability: Evidence from FAO data

The trend in crop yields and yield variability affects food security and impact agricultural and food policies. Recent studies in this area have either focused only on one country or performed global analysis on a handful of crops. We provide the first worldwide analysis of trend and variability for 8088 country-crop yield series taken from the FAO database, employing a robust estimator to cope with the adverse statistical effects of outliers. More than half of the series display a slowdown in yield growth due to a closing of the gap between realised and attainable yields as well as to agricultural policies promoting more sustainable agricultural practices. Around one fourth of the series show also an increase in yield variability as a consequence of climate change and changes in farm management practices. Yield variability is highest in Eastern Europe, Central Asia and Middle East and North Africa, where food security may be threatened.     

Dynamics of firm's network community associations and firm's innovation performance

ABSTRACT

R&D network structures have crucial impacts on firm's innovation performance. However, most previous studies have been based on the whole or ego network perspective, few studies have investigated the influence of community structure that a firm is engaged in on its innovation performance, and it is still unclear how a firm's relation to network community affect its innovation performance. This research aims to address this gap by focusing on the dynamics of firm's network community associations, empirically investigate the relationship between dynamics of firm's network community associations and its innovation performance. Based on the unbalanced panel data of smartphone R&D network during year 2004–2017, the results demonstrate that change in community member associations and movement across communities both have inverted-U-shaped effects on firm's innovation performance. Moreover, innovation openness depth has moderating effects on the relationships between dynamics of firm's network community associations and its innovation performance.