Disentangling the Role of Management Control Systems for Product and Process Innovation in Different Contexts

ABSTRACT

This paper studies the relationship between the use of management control systems and different types of innovation (product and process), taking into account innovation contexts (high-tech versus low-tech sectors). We develop and test our hypotheses based on a large sample of Spanish manufacturing firms and find that input controls have a positive association only with process innovation in both innovation contexts. Behavior controls have similar effects on both types of innovation outcomes for high-tech firms, while they have stronger positive associations with process than with product innovation for low-tech firms. Output controls are equally relevant for product and process innovation in both contexts.     

住户部门生产核算：范畴的界定与方法的设计

住户无偿服务生产核算作为住户生产核算体系的重要组成部分,日益受到国内外研究学者的重视。借鉴SNA2008相关理论和方法,结合我国住户无偿服务生产的基本国情,本文界定出住户无偿服务生产的核算范围,设计出用于住户无偿服务生产核算的产出法和投入法;鉴于住户时间因素在无偿服务生产中的重要性,本文从时间投入的视角对我国住户无偿服务生产差异进行了研究,并分别研究了收入水平、教育程度等五个因素对住户无偿服务生产差异的影响;采用主成分分析法,设计出引起住户无偿服务生产差异的家庭因子、人口因子和经济因子,丰富了我国现行住户生产核算体系的理论和方法。     

中国农业增长的环境绩效研究

核算1991~2011年中国省际种植业污染排放量,利用Global Malmquist Luenberger指数与农业环境友好指数（AEFI）分析中国农业增长的环境绩效。研究发现,环境约束下农业全要素生产率增长主要由技术进步推动,农业环境绩效的地区差异及省际分化明显,东部地区最优,中部地区最差;除内蒙古外其他各省份的AEFI均小于1,即农业增长环境不友好;是否考虑环境因素对农业增长的绩效评价产生较大影响。     

中国影子银行部门系统性风险的形成、影响与应对

本文分析了影子银行风险传染机制及其影响,在违约风险基于会计账户传染的马尔科夫过程假设下,运用投入产出法构建影子银行系统性风险测度模型,以2007-2012年中国影子银行业务数据进行检验,结果显示：信托公司部门是主要的风险源,银行部门是系统性风险最主要的承担者,观测期内影子银行部门系统性风险整体呈现上升趋势。防控系统性风险应从影子银行业务风险隔离机制、资本与杠杆率监管、信息透明度、宏观审慎框架和风险应急机制等建设着手。     

Parallels between US and UK cost accountancy in the World War I era

Both the US and UK governments attempted desperate measures during World War I in an effort to maintain wartime production levels of necessary commodities and to allow for their economical purchase by the military. Loft (1986a, 1986b, 1990) has studied the British experience in depth, concluding that UK cost accountancy 'came into the light' as a result. It might be expected that similar developments would have occurred in America with the activities of the War Industries Board. In both countries, national associations were established in the immediate aftermath of the war to promote the professional standing of cost accountants. This paper utilizes archival materials in an effort to investigate whether US cost accountancy was developing more sophisticated costing techniques as Loft has claimed for the UK, or whether practitioners in this country were left 'still cursing the darkness'. Our findings suggest that cost accountancy developed in parallel fashion in both countries. US and UK cost accounting professionalism was dominated by the presence of leading financial accounting practitioners, and in both countries the movement towards more sophisticated costing techniques was gradual rather than dramatic.     

反倾销措施对产业的关联影响--反倾销税价格效应的投入产出分析

WTO反倾销协议允许成员国在倾销造成国内产业实质性损害或产生实质性损害威胁时采取反倾销措施。反倾销措施的实施在保护国内受损害产业的同时 ,会损害下游产业和消费者的利益。本文以化工行业为例 ,利用中国投入产出表定量分析反倾销税价格效应对国民经济各产业部门的关联影响。我国对外反倾销涉案产品大多是中间产品 ,因此在反倾销措施执行中应当全面考虑包括下游产业利益在内的公共利益问题。     

Security analyst firm reputation and investors’ response to forecasted stocks in the biotechnology sector

ABSTRACT

Stock analyst reputation bridges the gap between technical knowledge of the high-technology and the investor's response to its stock, implying that the reputation of the stand-alone analyst serves this purpose. However, global firms have a stronger influence on their stock analysts than do small firms with 2 personnel. Does firm reputation affect the individual analyst and attract investor attention to forecasted stocks? Evidence from SAFs (security analyst firms) in the biotechnology sector supports this question and proposition. Four moderators (interactive predictors of organisational reputation) show positive correlations. They are the SAF's age, size, performance, and media coverage. These organisational level measures contribute to the institutional theory compared to the literature that focuses on the individual analyst without their organisations. In line with institutional theory, we make three explicit points. First, high uncertainty in the biotechnology sector turns investors to the organisational legitimacy and reputation of the analyst. Second, the organisational age, size, performance and media coverage of the security firm reduces uncertainty of the investor in the biotechnology sector. Third, the reputation of security firm flow to its individual analysts as well as from the individual analyst to the security firm. Thus, the organisational context matters in a social setting.     

金融业开放与中国制造业竞争力提升

研究目标：探究外资银行进入对制造业企业加成率变化的影响和作用机制。研究方法：基于异质性企业和新增长理论，将企业异质性和新熊彼特模型有机整合到统一框架中提出命题，根据中国工业企业和海关数据库，通过外资银行进入这一外生冲击对银行业开放后的制造业企业“加成率效应”进行实证研究。研究发现：总体上外资银行进入后，进入区域内企业平均加成率显著增加。行业层面异质性渠道检验表明，行业与技术前沿差距越小、行业外部融资依赖度越高、与银行业投入产出关联度越大，外资银行进入“加成率效应”越大。分所有制类型的结果显示，民营和外资企业的正向效应更为显著，且大型民营企业的正向效应值最大。分地区和要素密集度的结果显示，东部和劳动密集型企业的正向“加成率效应”较大。研究创新：首次从企业盈利水平视角出发探讨外资银行进入对下游制造业加成率的影响。研究价值：证实金融业开放有利于提升我国制造业企业市场势力。     

货币政策与异质性企业杠杆率——基于纵向产业结构的视角

当前,高杠杆已成为我国金融风险的重要源头,围绕结构性去杠杆来防范化解金融风险的基本思路,各方提出了一系列去杠杆措施。在此背景下,本文建立了一个包含“金融摩擦”与“资产负债表衰退”双重机制的动态随机一般均衡(DSGE)模型,探讨了中央银行紧缩性货币政策对国有企业与民营企业杠杆率的影响机制。本文研究认为,第一,中央银行提高政策利率会降低国有企业杠杆率,但会以民营企业杠杆率上升与总产出略微下降为代价;第二,伴随着政策利率上升,纵向产业联结度下降将会扩大国有企业与非金融企业整体杠杆率下降幅度,并减小民营企业杠杆率上升幅度;第三,货币政策对非金融企业杠杆率进行响应有助于提高社会福利,但效果并不显著。由此,本文研究认为,推动经济去杠杆需要在管住“货币”的同时,深入研究财政政策、宏观审慎等其他政策选项的可行性。在推动去杠杆的总过程中,货币政策要管住货币“总闸门”,宏观审慎政策要把住风险“总关口”。     

Asymmetric effects of exchange rate changes on the Malaysia-China commodity trade

Previous research that considered the response of the trade balance between Malaysia and China to exchange rate changes used a linear model and did not find any significant long-run link. Suspecting that the results suffer from aggregation bias as well as ignoring nonlinear adjustment of the exchange rate, we consider the trade balance of 59 industries that trade between the two countries and use a nonlinear ARDL model to show that almost a third of the industries are affected by ringgit depreciation against the yuan, in an asymmetric manner. The largest industry, which accounts for more than 25% of the trade, is found to benefit from ringgit depreciation while not being hurt by appreciation. In total, 15 industries that account for 40% of the trade enjoy this property.