Do regional house prices converge or diverge in China?

This paper aims to test whether the regional house prices are convergent or divergent in China using a monthly panel data set of China’s 70 large and medium-sized cities from July 2005 to December 2010. This issue is closely related to understanding the efficiency of the country-level housing policies made by China’s central government. The test results suggest that the regional house prices in China are generally divergent, and thereby the country-level policies may be inefficient since they do not explicitly take the strong heterogeneity of China’s regional housing markets into consideration. As a consequence, it may be better for China’s central government to further decentralize and devolve its governance toward the housing market to the local governments.     

Unbundling the differences between Psychic and Cultural Distance: An empirical examination of the existing measures

The diversity between the country-scores of Hofstede, Schwartz, GLOBE, Håkanson and Ambos and Dow and Karunaratna is the main focus of this study. To investigate the correlation between the country-scores of these CD (Cultural Distance), pPD (perceived Psychic Distance) and PDs (Psychic Distance stimuli) instruments we apply the Mantel test, a test predominantly used in anthropology and genetics, which can be particularly insightful when examining “distance” data. The matrix correlation findings provide evidence supporting the high diversity between these measures and their lack of consistent results for the same countries. Therefore, despite the similarity between the way of conceptualizing and operationalizing CD that Hofstede, Schwartz and GLOBE share, these CD measures do not report consistent findings. Consistently, the lack of correlation, between the PDs measure of Dow & Karunaratna and pPD of Håkanson & Ambos, indicates the diversity between PD stimuli measures and perceived PD measures. At the same time, while the two Psychic Distance (PD) measures indicate high correlation in some cases, overall they are highly diverse from the CD measures. We argue, therefore, that identical studies could reach significantly different conclusions by simply using different measures of CD,pPD&PDs which then denotes significant implications for the reliability of research findings. Additionally, we point out potential weaknesses of these measures when examining culturally proximate countries and multicultural nations.     

Erratic strategic decisions: when and why managers are inconsistent in strategic decision making

While decision makers in organizations frequently make good decisions rooted in stable and consistent preferences, such consistency in outcomes is not always the case. In this study, we adopt a psychological perspective of judgment to investigate managers' erratic strategic decisions, which we define as a manager's inconsistent judgments that can shape the direction of the firm. In a study of 2,048 decisions made by 64 CEOs of technology firms, we examine how both metacognitive experience and perceptions of the external environment (hostility and dynamism) could affect the extent to which managers make erratic strategic decisions. The results indicate that managers with greater metacognitive experience make less erratic strategic decisions. The results also indicate that in hostile environments managers make more erratic strategic decisions. But contrary to our expectations, in dynamic environments managers make less erratic strategic decisions. Similarly, hostility and dynamism interact in their effect on erratic strategic decisions in that the positive relationship between environmental hostility and erratic strategic decisions will be less positive for managers experiencing high environmental dynamism than those experiencing low environmental dynamism. These results have important implications for strategic decision‐making research. Copyright © 2010 John Wiley & Sons, Ltd.     

The use of open source internet to analysis and predict stock market trading volume

The objective of this paper is to evaluate the impact of information demand and supply on stock market trading volume. Few studies have demonstrated the role of Google search data in analyzing trading volume activity. In this study, we employ a proxy for information demand which is derived from weekly internet search volume. The latest is from Google Trends database, for 25 of the largest stocks traded on CAC40 index, between April 2007 and March 2014. We use news headlines as a proxy for information supply. We use Garch model to analyze and predict trading volume.The empirical results present new evidences. First, information supply has an impact on trading volume but information demand's impact is much more important. Secondly, by applying MCA to results found, it could be concluded that the impact of public information on transaction volume is conditioned by two elements: the firm and market news disclosure and the second element relates to the characteristics of the market participants, more precisely their news interpretations and their risk aversion. Thirdly, we used Chow structural break test to verify the stability of our model. We found that for securities with structural changes, information demand is the responsible variable of the change in our model. Finally, we found that information variables have a predictive power on transaction volume.This paper contributes to existing literature by incorporating open source internet-based data into the analysis and prediction of transaction volume. Using internet information about the stock market, which has appeared recently as an interesting research for financial empiricists, computer scientists and practitioners, will have a very important utility because quantifying demand and supply of information becomes possible.     

6S优化检维修管理模式的实施

为提高设备检维修现场管理水平,中国石化南通石油分公司大岸桥石油机械厂钳工车间将6S现场管理理念导入钳工车间日常检维修管理中,通过对检维修现状和方式的分析,创新管理理念,制定有效的计划及措施并落到实处,使钳工现场检维修管理模式得到优化,提升了车间的管理水平。     

建国初期中共粮食战略与1949年云南公粮征收研究

1950年3月6日以宋任穷为书记的中共云南省委正式成立，3月12日即颁布命令征收1949年公粮。当时各地基层政权立足未稳，难以承担如此巨任，阶级矛盾、民族矛盾错综复杂，征粮刚一展开即受挫。其原因主要一是云南财政恶化超出预想，粮食存量少；二是粮食新政权的保障，所以中共云南省委不遗余力地大力推进征粮工作。此次征粮不仅与云南地方军民生活用度有关，更与建国初期中共新政权在经济战场上与敌人斗争紧密相连。     

Are impatient farmers more risk-averse? Evidence from a lab-in-the-field experiment in rural Uganda

Based on data from a field-experiment in rural Uganda, we show that impatient farmers are more risk-averse than patient farmers. We relied on a simplified version of the Convex Time Budget (CTB) method to elicit farmers’ time preferences and on an independent method for eliciting their risk-preferences. We report two important findings. First, we show that our simplified CTB method applied to farmers from Uganda replicates the key findings of Andreoni and Sprenger’s lab experiments that involved student subjects. Second, we establish the existence of a negative correlation between risk tolerance and impatience, based on two independent measures.     

中国木质家具出口贸易与汇率波动关系研究

木质家具是我国最重要的出口林产品之一。人民币汇率改革后,人民币总体呈升值趋势,这一趋势提高了国产木质家具的出口价格,会产生阻碍出口的作用;与此同时其也会使进口原材料价格相对降低、促进原材料的进口,二者相互作用会共同影响木质家具出口额。通过建立回归模型,研究人民币汇率波动对中国木质家具出口贸易额的影响,结果表明人民币汇率与中国木质家具出口额呈负相关,但是通过人民币贬值来促进出口的策略并不明智。     

ROFIBUS现场总线在彩涂板生产线中的研究与实践

现今,我国的彩色涂层钢板的生产已经有了一定的发展,但是其生产水平还是比较低下,不能满足现代社会产业发展理念的需求,不能满足低碳发展、可持续发展的价值理念,PROFIBUS现场总线技术在生产中极大地满足了企业对彩涂板生产的需求。