A Learning-Based Theory of Joint Venture Life-Cycles

We provide a two period, learning-based model of joint venture formation and breakdown. We show that depending on parameter values different dynamic patterns emerge. If the rate of learning is low, then a joint venture forms in both the periods. If the rate of learning is large, then the outcome may either involve joint venture breakdown, or delayed joint venture formation.     

异构蜂窝网络中用户关联与基站功率的协同优化

为实现异构蜂窝网络中宏基站和小基站之间的负载均衡,提出了一种基于效用函数最大化模型的用户关联机制和基站功率控制的协同优化方案。通过迭代算法求解该协同优化问题,首先在基站功率固定的情况下求得最佳用户关联策略,然后在所得的用户关联策略基础上通过Zoutendijk可行方向法求得基站最佳功率。通过协同优化获得的用户关联策略和基站功率控制实现了基站之间的负载均衡,通过降低宏基站功率和关闭闲置小基站降低了基站的能耗。仿真实验表明,所提方案和不实施功率控制的用户关联策略相比,实现了宏基站与小基站之间的负载均衡,降低了宏基站对小基站用户的干扰,提升了小基站用户的信号干扰噪声比,用户速率中位值提高了20%。     

跨区域合作：沪澳共建青年科技创新人才协同培养机制研究

人才是第一资源,创新是第一动力。推动青年科技创新人才培养跨区域合作对我国人才强国战略的实施具有重要意义。对上海与澳门两大城市间青年科技创新人才协同培养机制展开研究,利用熵值法分析目前沪澳青年科技创新人才培养机制中存在的问题,使用ESDA(探索性空间数据分析)法探究跨区域合作中人才效应的空间依赖性和空间异质性。结果表明：水平发展层面,澳门的青年科技创新人才培养综合评价得分总体高于上海,两个城市的总体综合得分都呈现递增趋势;空间发展层面,沪澳青年科技创新人才培养产出呈现出空间负相关的集聚模式,上海、澳门分别呈现高-低、低-高集聚的空间格局,上海具有更好的人才“虹吸效应”。基于研究结果提出完善产学研人才培养机制、深化沪澳青年科技创新人才国际合作、加大青年科技创新人才培养力度等建议。     

Digestibility and asymmetric information in the choice between acquisitions and joint ventures: where’s the beef?

<In response to our empirical findings that, contrary to the predictions of the information asymmetry hypothesis, joint ventures are not more, but instead less likely when parents belong to different industries, Balakrishnan and Reurer argue that (1) the information asymmetry and the indigestibility hypotheses are theoretically complementary and (2) our results may be affected by the characteristics of our sample. In fact, the goal of our study was not to deny the theoretical validity of alternative theories of joint ventures, but only to ascertain their relative explanatory power. We therefore agree that both theories are complementary, but show that our findings are not explained by our sample, but instead by the way we test the information asymmetry hypothesis. Copyright © 2000 John Wiley & Sons, Ltd.     

浅探国有商业银行的股份制改造

我国四大国有商业银行资本金不足,资产质量和盈利能力差,业务和产品创新能力弱,内部控制和风险管理水平不高,公司治理结构存在严重缺陷等问题,严重阻碍了其自身业务的发展.实施股份制改造,加快建立现代产权制度和良好的法人治理结构,走上市之路,是国有商业银行走出困境的有效途径.     

Cultural bridging and the performance of international joint ventures

The existing predictions and findings regarding the effect of cultural distance on the performance of international joint ventures (IJVs) remain inconsistent. We suggest that this inconsistency is due to the lack of conceptually differentiating the cultural distance between the firm’s home country and its partner(s)’country (home-partner country cultural distance) from the cultural distance between the firm’s home country and the location of the IJV (home-host cultural distance). We contribute to our understanding of IJVs by explicitly differentiating these two types of cultural distance, and by introducing the concept of cultural bridging. Cultural bridging relates to the proportion of home-host cultural distance that is compensated by having a joint venture partner, whose home country culture is more similar to the host country culture than the MNE’s home country culture is to the host country culture. We theorize how cultural bridging affects IJV performance and how it interacts with home-partner country cultural distance and home-host cultural distance to influence IJV performance. We test our hypotheses using a sample of 1708 IJVs. We find that cultural bridging has a positive influence on IJV performance, strengthens the positive performance effect of home-host cultural distance, and reduces the negative performance effect of home-partner country cultural distance. Our findings help make sense of some of the inconsistent findings regarding the role that cultural distance plays for IJV performance.     

Mitigating the Influence of Analysts Who Issue Aggressive Stock Price Targets: The Role of Joint Versus Separate Evaluation*

Investors frequently rely on individual analysts' stock price targets. Aggressive price targets often reflect analysts' attempts to strategically influence investors. Therefore, investors' welfare may be compromised if they take aggressive price targets at face value. In this study, we examine conditions under which investors are more likely to infer that analysts who issue aggressive price targets are acting strategically. Investors can evaluate multiple analysts' price targets with or without other related information (e.g., earnings estimates). Investors can also evaluate the information provided by multiple analysts jointly or separately one analyst at a time. Two experiments find that as predicted, when investors evaluate multiple analysts' price targets without earnings estimates, there is no difference in investors' perceptions about whether the aggressive analyst is acting strategically across joint versus separate evaluation. However, also as predicted, when investors evaluate multiple analysts' price targets along with their earnings estimates, investors perceive the aggressive analyst as acting more strategically under joint evaluation than under separate evaluation. Our findings suggest that jointly evaluating multiple analysts' price targets with other related information, such as earnings estimates, can reduce the likelihood that investors would be overly influenced by aggressive analysts.     

联防联控机制协同组织网络演化研究

国务院联防联控机制在疫情防控中发挥了重要作用，是新时代国家治理体系和治理能力的有效成果，为应对重大公共卫生事件多部门合作提供了重要参考。为了厘清联防联控机制中各部门间的协同过程，结合中国抗击疫情的实例，运用社会网络分析法，构建了协同组织网络演化模型，从时间维度分析联防联控机制组织网络的结构特征、组织的角色地位演化过程。研究发现,随着时间的推移，协同组织数量不断增加，组织之间联系的紧密程度先上升后降低；协同是一个动态过程，外部需求变化引起网络中组织角色发生改变，推动网络整体结构的不断演进。     

寡头竞争市场下共同配送定价方法研究

共同配送采用多个企业联合组织起来实施配送活动的方式，其优势越来越受到重视，关于共同配送的理论研究也越来越多，但是对于定价问题还一直是个难题。在前人研究的基础上，引入共同配送服务质量因素，建立寡头竞争市场下共同配送定价模型，并设计粒子群算法，采用帕累托改进方法和总收益最大解方法对模型进行具体求解，得到相关的结论，最后验证了模型和算法的有效性。     

城市地下智能物流系统网络节点结构研究

城市地下智能物流系统的运输轨道和各级节点结构设计是决定整个系统整体运输量的决定因素。文章以1000万人口城市对快递、商超和餐饮三大类货物的日均物流量为参照,选用在RDC和小区DC的两次换装模式,对集装设备型号、轨道参数进行了设计,采用“4米通道+2米通道”的组合模式,并对CDC、RDC、FDC和小区DC进行功能与结构设计,形成完整的城市地下智能物流系统的结构设计方案。