The role of assessment centers in job satisfaction and organizational commitment: a case of the Korean government

While many studies have shown how assessment centers affect employees’ career success or job performance, these studies do not demonstrate how employees’ attitudes are affected by their perception of assessment centers. This study aims to investigate the influence of employees’ perception of assessment centers on their job satisfaction and organizational commitment, which are the key elements in predicting working behaviors, such as job performance, job involvement, and turnover intentions. To analyze the nature of the influence, 306 employees who had been evaluated by an assessment center in the Korean Rural Development Administration (KRDA) were surveyed. Regression analysis revealed that although there is no influence on their organizational commitment, employees with a positive perception of assessment centers experience higher levels of job satisfaction (p < .01). These results suggest that the positive perception of assessment centers affects the general feeling of organizational members about their work even though it does not affect their emotional attachment to the organization or dedication to organizational values. Thus, assessment centers can be used as a tool not only to select capable candidates but also to yield positive effects on organizational members’ job attitudes.     

Excess perks in SOEs: evidence from China

In investigating the relationship between economic directors (EDs) and excess perks in state-owned enterprises (SOEs) in China, we find a U-shaped relationship between the share of EDs on boards and excess perks, especially in SOEs controlled by local governments and with greater managerial power—as well as in regions with poor legal systems. The share of EDs on boards may have three benefits with respect to reducing the use of excess perks in SOEs: (1) replacing excess perks with monetary wages more aligned with the value of managers; (2) reducing the increase in excessive perks caused by the availability of free cash flow; and (3) reducing the use of excess employees to drive excess perks.     

Information Entropy-Based Housing Spatiotemporal Dependence

The Journal of Real Estate Finance and Economics - In the existing housing literature, there has been no academic consensus on how to combine the spatial dependence and the temporal dependence...     

Further Mining the Predictability of Moving Averages: Evidence from the US Stock Market

Most studies on the predictability of moving average (MA) technical analysis use the discrete (buy/sell) trading recommendations. However, it is possibly incomplete or unreliable to explore the predictability of MA by only employing its generated trading signals. To further explore the forecastability of MA, we study its measurable impact on the stock market returns by using a conventional predictive regression framework. Our empirical study on the US stock market with respect to more detailed price information finds, (i) that the proposed predictor, MADP (MA based on daily prices) shows significant predictability in‐ and out‐of‐sample, and significantly outperforms the historical average (HA) benchmark as well as the MA based on monthly prices, (ii) that the predictability of MADP centers on the short‐term lags (within the most recent 10 days) and disappears when lags are beyond 20 days, and (iii) that the economic evaluation of the portfolios based on trading strategies confirms the superior performance of MADP with short‐term lags against the benchmark even though considering transaction costs.     

国家助学贷款中信息不对称问题及其矫正

国家助学贷款工作的实施,为帮助贫困大学生顺利完成学业发挥着重要作用。但是由于助学贷款中的信息不对称所引起的逆向选择和道德风险问题使该项工作陷入了贷还两难的窘境。因此,必须通过建立完善的信用制度,健全法律法规,设计合理的还贷激励机制,构建风险分担体系,加大高校的工作投入,使助学贷款工作能够顺利实施,发挥更大的作用。     

Fiscal decentralization, revenue and expenditure assignments, and growth in China

Theory suggests that a close match between revenue and expenditure assignments at sub-national levels benefits allocative efficiency, and hence economic growth. That is, a convergence of revenue and expenditure assignments at sub-national levels of government should, according to the theory, be positively associated with a higher growth rate. In the case of China, this paper shows, divergence, rather than convergence, in revenue and expenditures at the sub-national level of government is associated with higher rates of growth. A panel dataset for 30 provinces in China is used to examine the relationship between fiscal decentralization and economic growth over two phases of fiscal decentralization in China: (1) 1979–1993 under the fiscal contract system, and (2) 1994–1999 under the tax assignment system. The seeming contradiction between the theory and evidence in the China case is reconciled by taking into account the institutional arrangements that prevailed during the two phases of fiscal decentralization, in particular the inconsistency between the assumptions of the theory of fiscal decentralization and the institutional reality of China.     

苏南、苏中和苏北对外开放度与经济增长关系的实证分析

一个国家或地区的经济开放程度涉及很多方面，如贸易国际化、资本国际化、劳动力跨国流动、技术引进和输出等。基于操作上简便易行、指标上具有可比性和连续性、资料易于搜集和量化等原则，本文拟选择出口额、实际利用外商直接投资额与GDP建立对外开放度这一指标。通常情况下，有些学者还会考虑国际投资开放度这个指标，但是．在计划计算苏南、苏中及苏北的国际投资开放度这一指标时发现：一方面由于统计资料的限制．另一方面由于苏南、苏中及苏北的对外投资数额很小，     

第四方物流的经营与发展

我国加入WTO后，国外物流企业进入中国物流市场，将给我国物流业带来发展机遇，也带来竞争压力，因此．我国物流企业必须运用现代物流理念，加快发展，建设高标准、高质量的物流体系。本文就是希望通过时第四方物流这一新兴物流理念的研究探讨，找出能推进我国物流业的发展思路。