An investigation of return and volatility linkages among equity markets: A study of selected European and emerging countries

This paper investigates the linkages among equity returns (based on exchange traded funds, ETF) and transmission of volatilities in the following countries: Germany, Austria, Poland, Russia and Turkey. Multivariate Autoregressive Moving Averages (MARMA) and the Generalized Autoregressive Conditional Heteroskedasticity (GARCH) methodologies are utilized. The findings include the existence of significant co-movement of returns among countries in the sample. Also, Turkish and Russian markets were found to be more volatile than Austria, Germany and Poland. However, volatilities in Russia and Turkey do not persist very long. Finally, there is strong evidence of volatility spillovers. All of the countries in the sample, with the exception of Turkey, experience volatility spillovers from other markets. The presence of spillovers among return series and persistence of volatilities are useful to investors interested in diversifying their portfolios and to traders/fund managers who are interested in maximizing returns.     

Limits to creative destruction and technologies in practice: the case of ham radio

Drawing on the structurationist notion of ‘technologies-in-practice’, this article analyses the different types of technological actions that users perform, after technological change, in order to keep a declining technology alive over time. The research question of the article is: How do technologies-in-practice based on the application of new technology hamper the creative destruction of old technology? The case study of ham radio technology and amateur radio operators is explored. The results of the investigation support the development of a technology-in-practice ‘experimentation’ and four inductive research propositions.     

Bridging the Gap Between Strategy and Performance: Using Leadership Style to Enable Structural Elements

Successful leaders create structural elements in order to achieve the performance objectives set forth by organizational strategy. Supply chain oriented structural elements are reflected in an organization's relationships, both within the firm and with supply chain partners. In this research effort, we examine how such structural elements can be created as a means through which to enhance performance. Our hypothesized model is rooted in strategy‐structure‐performance theory and integrates elements of servant leadership theory and social exchange theory to explain how building organizational commitment via servant leadership behaviors can ultimately impact performance. We use a survey method to collect data from 158 motor carriers. The results of our structural equation model support our hypotheses and serve to extend the discussion of supply chain structural elements and the role of leadership style in achieving organizational performance.     

Simulación de la tasa de reciclaje de productos electrónicos Un modelo de dinámica de sistemas para la red de logística inversa

Current trends in the development and innovation of information technologies and shorter life cycles of electronic products have resulted in the generation of large amounts of waste (e-waste) which can potentially cause environmental problems due to the toxicity of some of their components. The e-waste problematic has attracted the attention of governments, companies and consumers that look to identify strategies for the management and proper disposal of e-waste with the goal to protect the environment. This work uses the methodology of system dynamics to simulate how the rate of products returned by individuals and the amount of computers recovered in an open-loop reverse supply chain, varies under different scenarios. The simulated scenarios correspond to the possible combinations of five macro factors: rate of innovation and product life cycle, information available to consumers about e-waste recycling, legislation, e-waste programs structure along with diffusion and publicity efforts. The results of the simulation are relevant to identify over which factors it is convenient to intervene to increase the amount of recycled computers because this amount represents a reduction in the volume of e-waste and an enterprise opportunity to generate earnings from recycling computers.     

Does Money Matter in Shaping Domestic Business Cycles? An International Investigation

We study the contribution of money to business‐cycle fluctuations in the United States, the United Kingdom, Japan, and the euro area using a small‐scale structural monetary business cycle model. Constrained likelihood‐based estimates of the parameters are provided and time instabilities analyzed. Real balances are statistically important for output and inflation fluctuations. Their contribution changes over time. Models giving money no role provide a distorted representation of the sources of cyclical fluctuations, of the transmission of shocks, and of the events of the last 40 years.     

企业实施逆向物流的关键因素分析

本文借助"鱼刺图"对企业成功实施逆向物流的关键因素展开分析,在分析的基础上提出了成功实施逆向物流的概率模型,该理论模型为今后研究逆向物流成功实施提供了理论框架。     

语音指导查询与数据自动传输方法

我国电子商务刚刚起步,应根据我国电子商务发展的现状,结合发达国家的先进经验,对相应的网上交易涉税问题尽早给予解决。电子商务的商品交易方式、支付方式等都与传统的方式有着很大的不同,这就给税收制度带来了挑战。本文将对电子商务所涉及的税收问题作一论述。     

基于相关与偏相关分析的城市居民休闲度假市场开发研究——以南京为例

我国旅游业正向休闲度假型转变。运用相关分析与偏相关分析方法,以南京为例探析城市居民休闲度假旅游需求。研究发现偏爱休闲度假的居民由于地位与收入的不同在旅游资源喜好、旅游活动偏好、购买行为、信息来源渠道、出游方式等方面与一般居民有着明显差异。因此,休闲旅游目标市场的定位应在高学历、中高收入阶层,旅游资源的开发应优先考虑湖泊水滨、森林山地,产品开发应注意项目与资源的耦合且促销渠道应以网络为主,兼顾传统媒介。     

基于风险共担的供应链融资渠道研究

伴随着现代物流进入21世纪,供应链的衍生服务项目——融资服务正在逐渐兴起。资金周转的压力造成生产商急需相关的融资服务来缓解资金流上的时间风险。在采购融资、存货融资、保理业务等核心服务的基础上,3PL开始了自己的金融服务。但是由于信息不对称,3PL遇到了逆向选择问题。实现风险共担的延迟策略不仅解决了库存成本过高的问题,也为供应链带来了新的融资模式。