The Wealth Effect of Domestic Joint Ventures: Evidence from Taiwan

This study presents important international evidence by examining the wealth effect of domestic joint ventures by Taiwanese firms. In opposite to United States evidence, we find that announcements of domestic joint ventures by Taiwanese firms are, on average, associated with significantly negative abnormal stock returns. We also find that the stock market response to announced domestic joint ventures is significantly positively related to the announcing firms' investment opportunities, size of investment and debt ratio, and is significantly negatively related to the business relatedness variable. In contrast, free cash flow, firm size, relative firm size and managerial ownership are found to have no significant power in explaining the market response. Our results support the investment opportunities, synergy and complementarity hypotheses as well as a broad interpretation of the free cash flow hypothesis, but reject the absolute size, relative size and alignment-of-interests hypotheses. This study makes valuable contributions to the literature by providing the first direct evidence on the role of investment opportunities, synergy and alignment-of-interests in explaining the wealth effect of domestic joint ventures     

Motives in the Acquisitions of NASDAQ Targets during the Aftermath of the 1987 Crash

After the crash of 1987, the Nasdaq composite index stayed below the precrash level for nearly two years. Takeover activity surged in this after‐crash period. We compare the motives in the acquisitions of Nasdaq targets during the after‐crash period with those in the ten‐year period before the crash. We find that the announcement period return to acquirers and the proportion of acquirers with positive gains declines in the after‐crash period. For both the periods, agency is the motive for takeovers that have negative total gains (acquirer + target), but synergy and hubris are comotives for takeovers that have positive total gains. The proportion of takeovers in which the managers of acquirers act against the interest of the shareholders increases after the crash.     

客户满意度的模糊综合评判

客户满意度在不同的行业与企业有着不同的定义,其评价标准也难以确定.本文应用多级模糊评价方法对客户满意度进行评价.可保证定性指标向定量的科学转化,方便地应用于实际工作中,使评价具有科学性和合理性.     

电信业顾客满意度测评指标体系的建立与检验

本文结合CS理论模型和电信业的具体业务,提出了电信业顾客满意度测评指标体系,并在预调查阶段运用信度分析和因子分析,证明了该指标体系的有效性和实用性.     

如何设计中国顾客满意指数调查问卷

中国顾客满意指数作为一种新的质量业绩衡量指标,能够有效地反映我国企业、行业、国民经济中的各部门以及整个国民经济的质量状况。问卷设计是中国顾客满意指数调查的关键环节。文章结合中国顾客满意指数调查的特点,对设计调查问卷的原则、方法及问卷设计过程中需要注意的问题进行了探讨。     

绿色普惠金融与乡村振兴耦合能否助推经济发展？

基于2011—2020年中国30个省（自治区、直辖市）的相关面板数据,利用耦合协调度和空间回归模型,分析绿色普惠金融与乡村振兴耦合协调发展水平并进一步探讨其对经济的助推作用。结果表明：绿色普惠金融与乡村振兴之间存在耦合协调机制;无论在经济空间还是地理空间中,某一地区的耦合协调度均可以促进本地及周边地区经济增长;在东、中、西部区域中,耦合协调度的经济效应具备空间外溢性和地区异质性。基于此,提出在全国范围内整体提升耦合协调度、在不同区域内立足区域实际进行精准施策的建议。     

品牌之死——基于品牌经济学视角的分析

基于品牌经济学视角对品牌之死的研究表明：品牌之死有自然死亡、突然死亡和长寿品牌3种基本类型；品牌之死即为需求之死；品牌的品类、品类度和品牌策略决定了品牌生命；因而延长品牌生命也应从这3方面制定相应的策略。     

Coupling relationship between environment and economyof metropolis：a case study of Chongqing, China

City is a coupling system of economy, society and environment. The urban environment is a supporting systemto the sustainable development of city. Taking the urban area of Chongqing as an example, this paper establishes theindicator system for assessment of the coordination between urban environment and economy according to the resultfrom principal component analyses by software SPSS11.0. Meanwhile, the weight was assigned for each indicator basedon the load of the first proper principal components. Through computation of the coordinated development model set upaccording to the knowledge of statistics, the paper draws the conclusion that the situation of the coordination betweenenvironment and economy in Chongqing developed well from 1996 to 2004. Finally, countermeasures for the coordina-tion in the coming years are proposed.     

基于功能耦合的供应链系统研究

论述了供应链研究的现状与存在的不足,分析了供应链协同运作的体制障碍及供应链系统协同运作的必要性,最后建立了一个基于协同运作的供应链耦合系统。     

改进模糊综合评价模型在供应商选择中的应用

本文在分析现有的供应商评价方法的基础上，提出一种基于改进的模糊综合评价模型，使得评价的结果更为客观、科学，而且计算较为简便，为供应商的选择提供了一种全新的思路。最后用一个简单的案例进行了分析和讨论。