Industrial buying behavior: A need for an integrative approach

In recent years many conceptual and methodological developments have contributed to our understanding of industrial organizations as consumers. Yet there is still a lack of purpose and no sense of direction to much of the research in the area of industrial marketing/organizational buying. This paper develops a framework for approaching organizational buying research in a more conceptually rigorous and methodologically sound fashion. Within the proposed framework current problems in the area are discussed and needed research is highlighted.     

Impact of internal and external environmental stability on the existence of determinant buying rules

The environment of the buying center is conceptualized as having two components. One is external to the buying center but internal organization. The other is external to both the buying center and the organization. The stability of these environments explains a significant amount of variation in the existence of organizational rules that determine the outcomes of organizational buying decisions. A comparison of global and attribute- specific measures of environmental stability indicates the environmental attributes that underlie respondents' global judgements about stability.     

现代公司治理结构下内部控制的建立与完善

本文论述了现代公司治理结构的完善和治理机制的顺畅在建立和完善企业内部控制中的重要作用,回顾和分析了内部控制的发展历史,论述了它在企业管理中的重要作用及其对公司治理的反作用,并对现代公司治理结构下内部控制与公司治理的协调做了一些有益探索。     

美元贬值下的人民币汇率制度选择

2002年以来，美元汇率持续贬值，对世界经济及我国经济产生了重大影响。对人民币实质汇率水平也产生了重大影响，人民币实质汇率水平的决定除了取决于美元趋势外，主要还受国内宏观经济的变化趋势、国际收支的变化趋势的影响。为此，我国应在保持人民币汇率稳定前提下，尽快培育和完善人民币汇率市场，形成机制，增强汇率杠杆对经济的调节作用，推动外汇市场的管理创新，增强交易主体的竞争力。     

信用效应认识的深化与信用秩序的恢复和增强

市场经济从本质上讲是信用经济.在市场经济条件下,信用是最基本的社会经济关系,是整个社会经济得以维系和发展的基础.随着中国经济改革的逐步深入,特别是在加入WTO后,信用的作用逐步显现出来.但是,人们对信用效应的认识还有待深化,尤其是对信用关系紊乱可能带来的负面作用认识得不多,而对信用的积极作用往往习惯于借鉴美欧现成的信用模式.本文从深化对信用效应的认识入手,分析了信用秩序混乱的形成原因,并在简要评价我国信用基本状况的基础上,提出了恢复和增强我国信用秩序的建议.     

Impact of the Financial Crisis on Banking Acquisitions: A Look at Shareholder Wealth

This paper examines the influence of the 2007–08 financial crisis on value creation for acquirer’s shareholders in the banking industry using a sample of 883 deals over 2004–12. Applying an exploratory and top-down approach, banking acquisitions are considered at the global level, narrowing the analysis step by step to consider domestic versus cross-border acquisitions. Then cross-border deals are split based on the economic development of the acquirer and target countries. It is observed that only acquisitions involving emerging-economy acquirers and developed-economy targets generate positive and significant returns to shareholders after the crisis. Major changes in the global acquisition landscape are also observed since 2007, with emerging-economy banks increasing their acquisition activity, both nationally and internationally.     

从金融资本对商品期货市场的影响看我国加强储备的必要性

世界金融资本的规模空前发展,在世界货币和商品期货市场上扮演着越来越重要的角色,对商品价格产生了巨大影响,甚至导致了商品定价机制的重大变化。金融资本运作导致的商品价格剧烈波动对我国获取和利用国外资源造成了困难,进而对我国经济安全构成威胁,因此,我国应尽快构建应对体系,其中建立一定规模的储备是不可或缺的举措。建立国际市场交易量大、金融属性强、我国对外依存度高的大宗商品储备,有利于应对我国资源供应和金融安全双重风险。     

基于比较优势四个来源的新钻石框架及其政策含义——兼论波特模型的解释困难

本文说明了相对于比较优势理论而言国家竞争优势理论的若干解释困难,重点阐述了存在于钻石模型四个要素中的矛盾和问题。通过对生产要素概念的扩展、让技术作为第四要素正式加入要素体系,建立了以自然资源、劳动力、资本和技术四项生产要素为支点的新钻石框架,力图解释国家竞争力的产生和强化机制及其与生产率提高和政府作用的直接关系。最后,结合我国经济的增长,讨论了针对新钻石框架四个支点的国家职能和政策含义。     

从中美保险业对比看我国保险业的差距与发展

保险是风险管理的一种财务安排。与美国相比 ,中国的保险业有优势也有差距。从发展空间上看中国的保险业潜力很大 ;但从业务代理素质以及理赔项目、售后服务、竞争机制和政府宏观调控来看 ,中国的保险业明显不足 ,还有待发展。     

Prices of deep discount bonds and the Revenue Act of 1978: An evaluation of market response

This article explores the market response of deep discount corporate bonds to the reduction in the capital gains tax rate incorporated into the Revenue Act of 1978. Such tax change should have increased the desirability of assets acquired for capital gains potential, such as deep discount bonds. Examining a time series of prices and returns for a sample of deep discount corporate bonds and a control group of comparable duration and credit risk corporate bonds selling at or near par did indeed provide evidence of a market price reaction. Moreover, the price changes for the deep discount bonds occurred well in advance of the implementation of the tax change.