The Outlook for European Grocery Retailing: Competition and Format Development

This article analyses retail trends in the main European countries, and particularly format evolution and competition amongst retailing firms. On the basis of the existence of European retailing landscapes that are sometimes similar without ever being identical, the article analyses the impact of the main factors of change on different national markets. Whilst retail internationalisation and new entrants, commercial policy, legislative environments, technological innovations, consumers and buying behaviour will have a convergence effect on different countries' retail structures, substantial differences will still exist. European retailing in the coming years will probably be characterized by increasingly less marked differences between countries than one finds today, but market segmentation, variety and differentiation of retailing formats and brand names will be stronger within each country.     

撬动罗非鱼国内销售市场的几点思考

罗非鱼是联合国粮农组织特别推荐养殖的优良鱼种,罗非鱼自身的特点决定了罗非鱼非常适合大规模人工养殖。我国已经成为最大的罗非鱼养殖国家。由于市场因素、国际金融危机等因素,使我国罗非鱼养殖产业出现了增产不增收的恶性循环现象。本文通过分析罗非鱼养殖和加工现状、罗非鱼系列产品开发、罗非鱼废弃物综合利用、政府制定优惠政策、培育规范的罗非鱼国内销售市场等,提出了切实可行的促进我国罗非鱼产业快速发展的途径,为我国罗非鱼产业的快速发展提供了参考。     

Changes in the value relevance of accounting information over time: Evidence from the emerging market of China

We investigate the changes in the value relevance of accounting information among Chinese firms over the past two decades, during which accounting reforms are launched to provide decision makers with increased disclosure and higher quality financial information. We also investigate the factors that differentiate firms showing significant value relevance improvement from firms showing little improvement. We find increases in the value relevance of some financial variables and decreases in others, which suggests that accounting numbers help to explain the pricing process of stock shares although at different levels. In addition, we find that value relevance improvements are more pronounced for smaller firms, firms with lower growth rates, and those with greater asset tangibility. We also document that value relevance improvements are generally lower in an exuberant stock market. These results have implications for a variety of information users and policy makers in emerging countries which are reforming their accounting systems.     

Market overreaction and investment strategies

We investigated the overreaction of the Korean market in response to shocks in the US stock market, and analysed the dynamic relationship between these two markets since 1996. We found that the KOSPI 200 index futures overreacted to the S&P 500 index returns during the period from 2000 to 2009 when the Korean market was in its growth stage. As the Korean market matured and the KOSPI 200 overnight futures were introduced in 2009, the overreaction disappeared. When investors employed the Kelly model or Value-at-Risk to exploit the overreaction, their trading strategies produced significant profits during the growth stage even after considering transaction costs and risk, but the profits attenuated once the overnight futures market was launched in 2009.     

Profiling Japanese Tourists Visiting Night Markets in Taiwan

Abstract

Night markets have become the most popular tourism attraction for international tourists in Taiwan since 2003. They offer tourists a chance to experience new things and visit different environments when visiting the island. Japan has long been the leading generator of international tourism for Taiwan in terms of numbers and expenditures. Thus, the objective of this research is to profile Japanese tourists based on their novelty-seeking motives in visiting night markets. The 320 Japanese tourists are segmented into three groups: conservative tourists, moderate novelty-seekers and well-planned explorers. Based on the results, implications and recommendations are provided to the tourism authorities, and future research possibilities are also noted.     

房地产经纪服务中“市场失灵”的成因及对策探讨

房地产经纪服务作为存量房市场中买卖双方的桥梁,在房地产市场有序健康发展中发挥着重要的作用。通过分析信息发送、信息甄别以及激励合同的市场机制在房地产经纪服务中失灵的原因,提出了房地产经纪服务行业管理是弥补"市场失灵"的重要手段,并进一步分析了行业管理的必要性及和影响机理;最后针对我国现行行业管理存在的主要问题提出了相应的完善措施。     

论社会主义市场经济条件下道德观念的调整

中国的社会主义市场经济正在蓬勃发展,但市场经济体制还不完善,社会道德建设面临一系列挑战,需要我们对原有的一些道德观念和原则进行相应的调整,建立起与社会主义市场经济相适应的道德体系,社会主义思想道德体系,必须以为人民服务为核心,以集体主义为原则,以诚实守信为重点。     

多哈回合谈判的困局及出路

经过近九个年头的谈判,多哈回合仍然没有任何结果,让人觉得前途暗淡。然而必须看到,多哈回合的胜利完成,一方面,会带来更大的贸易自由化;另一方面,可以抵御日渐抬头的贸易保护主义;而它的失败则会对全球贸易带来严重后果。因此,针对目前的僵局,发达国家应该做出更多让步;小国家则应该组成不同的集团,以集团代表的方式参加各项议题的讨论;而谈判委员会主席的工作和职权则应该受到更多的约束。只有各方都做出调整,谈判才有可能顺利完成。     

中国网络游戏产业发展现状的实证研究

近年来，中国的网游产业迅猛发展，被公认为潜力无限的朝阳产业。文章以实际数据分析了中国网游产业的用户规模、市场状况，发现网游产业发展遵循雁行模式且目前处于成长期，其国产游戏占主流，经营模式以增值收费为主。最后，文章就青少年沉迷、经营模式、游戏同质化、人才匮乏与虚拟财产交易等问题提出了建议。     

河北省村镇银行加速发展分析

河北省首家村镇银行——张北信达村镇银行股份有限公司已经于2008年6月26日正式开业,在推动农村经济发展、改善农民生活、帮助农民创业等方面发挥了重要作用。但是,相对于其他省份,河北的村镇银行发展速度还有待加快。首先分析了村镇银行发展现状,接着阐述了河北加快发展村镇银行的可行性,最终在分析外省问题的基础上,提出加快河北村镇银行发展的建议。