Labor income and risky investments: can part-time farmers compete?

In the developed countries, a majority of farm households receive at least as much income from nonfarm sources as from the farm. Such part-time farms have survived inspite of lower returns than full-time farms. This paper considers when lower returns to part-time farming could be compensated by risk-reduction due to diversification of income sources. The paper uses a dynamic portfolio choice model with labor income. The model and results could be applied in other contexts as well.     

Asymmetric performance: the market share impact of scale and link alliances in the global auto industry

This study investigates how participating in strategic alliances with rivals affects the relative competitive positions of the partner firms. The paper builds on studies that show significant differences in the outcomes of scale and link alliances. The study argues that the more asymmetric outcomes of link alliances translate into greater changes in the relative market shares of the partner firms, due to unbalanced opportunities for inter‐partner learning and learning by doing. We find support for this argument by examining 135 alliances among competing firms in the global automobile industry, from 1966 to 1995. Copyright © 2004 John Wiley & Sons, Ltd.     

Research notes and communications management and organizational change: A note on the railroad industry

Hypotheses which relate top-level managers' age, years of company and industry service, and education to strategic change are studied with a sample of 855 managers from 27 railroads. Results generally support hypotheses that younger managers and those with less experience are more likely to alter their strategies with changing environmental conditions.     

我国石油安全战略体系的构建

目前，我国石油供需缺口加大，供需矛盾日益突出。为了弥补石油缺口以满足经济发展的需要，我国实施了石油进口战略。近年来，石油进口的增长导致了我国石油依存度上升。过度集中的进口来源、较小的优质原油进口国选择空间、石油资源后劲不足使我国的石油安全面临着严峻的挑战。本文从重视石油储备、加强油气勘探开发、提高能源利用效率、积极利用国际石油资源等方面提出了构建我国石油安全战略体系的思路框架。     

Environmental Valuation with Imperfect Information The Case of the Random Utility Model

This paper considers welfare analysis with therandom utility model (RUM) when perceptions ofenvironmental quality differ from objectivemeasures of environmental quality. Environmental quality is assumed to be anexperience good, so that while perceptions ofquality determine choices, ex postutility is determined by objective quality. Given this assumption, I derive a measure ofthe welfare impact of changes in environmentalquality, and I show how this new welfaremeasure differs from the traditional welfaremeasure developed by Hanemann (1982). This newwelfare measure provides an approach tomeasuring the value of information aboutenvironmental quality within the framework ofthe random utility model.     

从战略管理角度透视财务管理目标

运用战略管理的基本理论 ,在分析现行理论界关于财务管理目标的不足之处的基础上 ,提出了财务管理的新的目标———战略计划期利润最大化。     

Political Entrepreneurship and the Democratic Allocation of Economic Resources

Political entrepreneurship occurs when an individual acts on a political profit opportunity. These profit opportunities can be divided into two categories: productive, and predatory. Productive opportunities enable entrepreneurs to profit from enhancing the efficiency of government, while predatory opportunities enable entrepreneurs to profit from forcibly transferring resources from some to others. This analysis shows that political institutions tend to favor predatory over productive political entrepreneurship, and shows that what is sometimes referred to as political exchange does not have the same efficiency characteristics as voluntary exchange in private markets.     

关于产业集群技术创新的若干问题

产业集群的蓬勃发展带动了我国区域经济迅速发展,但当前我国产业集群中企业创新不足的问题日益显现,阻碍了产业集群的进一步发展,而要强化产业集群技术创新,关键是探寻技术创新的实现路径,整合创新要素,做出有利于推进产业集群技术创新的战略选择.     

Research notes and communications corporate restructuring and strategic change: The effect on diversification strategy and R & D intensity

In the 1980s a number of large corporations restructured their diversified businesses through divestitures. It is hypothesized that restructuring activity focused on firms at intermediate levels of diversification (e.g., related-linked) which have a mixture of related and unrelated business units. Results confirm this hypothesis which explains that such mixed corporate strategies create organizational and control inefficiencies in managing both related and unrelated types of business units. Restructured firms were also found to move towards two types of different internal capital markets (related and unrelated). Most restructuring firms moved toward lower levels of diversification (e.g., related-constrained), although some moved toward higher levels of diversification (e.g., unrelated business). Also, this study finds restructuring firms that changed their corporate strategy by reducing diversified scope increased their R&D intensity. Firms that restructured and increased their diversified scope decreased R&D intensity. This result suggested a partial substitution between diversification and R&D activity.     

Valuing Food Store Access: Policy Implications for the Food Stamp Program

Food stamp recipients may lack access to larger stores, reducing the availability of nutritious food. Reliance on smaller stores may have undesirable impacts. Policy alternatives include limiting food stamp redemption to larger stores and subsidizing store development. I estimate that limiting redemption to supermarkets and grocery stores, or supermarkets alone, results in losses ranging from $499.2 million to $1.05 billion, or $1.17 billion to $2.44 billion (respectively) annual loss in food stamp recipient welfare nationwide. The impact of improving access is also significant, ranging from $333.6 million to $931.2 million.