Exploring consumers’ bidding results based on starting price,number of bidders and promotion programs

Online auctions are a core dynamic pricing mechanism that is now used widely in the tourism market, and consumers enjoy the exciting experience of bidding for products and services. The rapid development of the online auction market has lead scholars to call for more research into the factors that influence the results of such auctions and how they are related to consumers’ online bidding behavior. To this end, the current study designs a lab environment and mainly explores the influences of the start bidding price (US$0.33 versus US$60), the number of bidders and promotion programs (low price versus quality) on the results of online auctions of hotel coupons. The research results indicate the following market dynamics. (1) Regardless of whether there is a low or high start-bidding price, more bidders lead to higher end-prices, especially with high start-bidding prices. (2) When a seller provides a higher start-bidding price, the end-prices will be higher. (3) Different promotion programs result in different end-prices, especially when the product characteristics are integrated effectively with such programs. When hotel coupons are the main auction product, they are associated with high-quality leisure and lifestyle factors, thus indicating that the integration of high accommodation quality with quality promotion programs can attract consumers to join the bidding process and lead to higher end-prices. (4) Regardless of whether there is a low or high start-bidding price, winners will always report higher ratings regarding distributive fairness, procedural fairness and information fairness than will losers. The research results have important theoretical and practical implications, which are discussed in the conclusions.     

An institutional assessment of three local government-level tourism destinations at different stages of the transformation process

Transformation theory attempts to understand the long-run process of structural shifts that occur in an industry and economy as a result of institutional change. While transformation theory is being advanced and tools have emerged to measure institutions, these innovations are yet to be applied to consider institutional change across the development spectrum. This is critical for developing institutional theory to underpin the tourism transformation process. Consequently, this paper aims to: 1) assess the institutions of the tourism industry in three regions at different stages of transformation, and 2) compare tourism to other industries within the regions. The results indicate that as the tourism industry matures it becomes smarter, more adaptable, and takes its own trajectory by departing from the institutional norms of non-tourism organizations in the region. The tourism management implications are that learning, research capabilities, adaptability and collaborative marketing plans should be fostered in the early stages of transformation.     

Beyond Chinese,beyond food: unpacking the regulated Chinese restaurant business in Germany

Drawing upon findings from in-depth interviews with 22 Chinese restauranteurs, supplemented with communication with key informants and ethnographic observations, this paper illustrates the policy context in which the Chinese restaurant trade in Germany is embedded. Based on the typology from Esping-Andersen, characteristics of the German welfare state regimes are identified with special focus on their impact on immigration and migrants' employment options. This establishes the background for a closer examination of a selection of policies that govern, to different levels of success: (1) the migration of Chinese migrants, (2) the right of work for asylum seekers, (3) the level of authenticity of speciality restaurants, and (4) migrants' access of financial support and advice regarding self-employment. The paper shows how (migrant) entrepreneurs, facing changing levels of market challenges and policy controls, are active and creative agents in optimizing their performances. Strategies adopted include the modification of their business operations and range of products as well as tapping their resourceful ethnic social network for venture capital, necessary information and other forms of support.     

论小企业融资市场化

多年来，社会各界为解决小企业融资难问题做出许多努力但收效甚微。小企业作为市场经济条件下的组织要素之一，其融资行为必须按市场化原则来解决。市场化就是要按价值规律的要求，资金供、需双方通过利益关系的分配与调节，从而夯实解决小企业融资难的经济基础。     

Insider Bargaining Power, Starting Wages and Involuntary Unemployment

Recent studies of wage bargaining and unemployment have emphasized the distinction between insiders and outsiders, and that unions act in the interest of insiders. Yet it is typically assumed that insiders and recently hired outsiders are paid the same wage. We consider a model where the starting wage may differ from the insider wage, but incentive constraints associated with turnover affect the form of the contract. We examine under what conditions the starting wage is linked to the insider wage so that increased bargaining power of insiders raises the starting wage and reduces the hiring of outsiders.
JEL classification : J 23; J 31; J 33     

社会保障税税基的确定

社会保障税税基的确定是开征社会保障税需要解决的一个关键问题。为了体现社会保障税效率和公平兼顾的原则，个人纳税部分应设起征点和最高限征额，而企事业单位纳税部分不设。各地应将个人月平均工资低于当地月平均工资的一定比例（如50％）作为个人缴纳社会保障税的起征点；同时，要规定被保险人的最高纳税收入基数。起征点和最高限征额均应根据经济发展水平和物价指数的变化进行调整。企事业单位应以全部职工的工资总额作为税基。     

《小企业会计准则》与《企业会计准则》的比较

国际会计准则及各国制定的会计准则大部分是针对大中型企业和上市公司,很少会考虑到中小企业的会计需要,致使一部分中小企业由于实施国际会计准则的成本太高,出现背离国际会计准则、执行不严、实施质量不高等迹象。而我国制定的《小企业会计准则》与《企业会计准则》之间的差异,主要在于《小企业会计准则》简化了核算要求,可以满足税收征管信息需求,有助于银行提供信贷,有助于和企业会计准则衔接等方面。对于小企业加强财务核算,提高内部管理水平,促进小企业健康发展具有重要的现实意义。     

商业银行普惠金融支持小微企业发展研究

长期以来,由于信息不对称、信用体系不健全、市场功能不完备等摩擦性因素,商业银行支持小微企业发展困难重重与可持续性不强。随着国家对普惠金融的不断重视,商业银行普惠金融支持小微企业发展成为时代必然的选择。本文从小微企业、商业银行和金融基础设施等不同角度对小微企业发展的相关问题进行分析,通过数据对比和政策剖析得出四点主要结论:一是大型商业银行支持小微企业贷款规模最大、增速最高;二是农村类金融机构金融覆盖度持续扩大;三是信息不对称和担保体系不健全严重阻碍商业银行服务小微企业的质效;四是要密切关注大型商业银行在普惠领域的风险积聚和商业可持续。最后,提出商业银行兼顾社会效益和商业可持续、积极拥抱金融科技提升服务价值、打造差异化特色普惠金融产品等多方面政策建议。     

对主流经济物理学研究范式的担忧——兼议其在中国面临的困境和挑战

主流经济物理学具有以下方面的偏执:从物理学上看,忽视非统计物理学在其领域的应用;从经济学上看,局限在数据丰富的金融领域,追求普适性法则以及缺乏完整的理论框架;从数学上看,局限在非线性、概率统计以及随机方面,忽视代数、几何以及更适合经济系统的半定量和半确定数学的应用;从研究方法上看,热衷于逻辑实证主义和复杂科学,确立了从数据出发的研究模式;从理论检验上看,推崇裁判竞争性理论的数据维度;从经济学的自然学派看,忽视经济学自然维度的寻找。主流经济物理学在中国面临着挑战:长期的文理分科使得在交叉学科研究方面缺乏相应的知识结构;美国经济物理学研究范式在中国硬性推广,而忽视了国内经济行为自身环境。因此,中国学者应更多关注与政治制度等有关的,对经济行为存在自上而下影响的经济学,同时赞同经济物理学应研究经济行为决策的自然维度。     

Time Allocation and Performance: The Case of Chinese Entrepreneurs

This paper analyses the effect of time allocation on the financial performance of entrepreneurial firms. We apply the Lewbel estimator to a pooled data set of Chinese private manufacturing firms that are managed by their owners. Time is allocated between management, networking, and study activities. After accounting for endogeneity, we find an inverted U-shaped relationship between management hours and firm performance and between networking and firm performance. However, no relationship between time spent studying and firm performance is observed. We also find that the managing hours–performance relationship is particularly strong for companies managed by entrepreneurs who own more than 75% of share, for companies that are managed by owners with previous experience, for male entrepreneurs, and for smaller-sized firms.