Dynamic managerial capabilities: Scale development and validation

Studies on dynamic managerial capabilities still have a rather theoretical nature, and there is great difficulty in finding a valid, reliable instrument to measure this construct. The present study contributes to solving this problem: It aims to develop and validate a scale to measure dynamic managerial capabilities. In this investigation, we develop a scale for three factors related to dynamic managerial capabilities: human capital, managerial cognition (already described in the literature), and relationship networks. The prominent finding in this research is the factor that is referred to here as relationship networks.     

On the corner of diverse/reverse globalization: the third stage of global 'urban studies'

Books reviewed in this article: Peter Marcuse and Ronald van Kempen (eds.) 2000:, Globalizing Cities: A New Spatial Order? Peter Marcuse and Ronald van Kempen (eds.) 2002:, Of States and Cities: The Partitioning of Urban Space.     

Existence of Equilibria in Matching Models of Money: A New Technique

This paper develops a new technique for proving the existence and indeterminacy of monetary equilibria in money search models with divisible money. Our technique is substantially simpler than standard constructive proofs in the literature. This paper is based on the second half of Kamiya and Shimizu (2002). We are very grateful to the associate editor and an anonymous referee of this journal for their very detailed suggestions and comments. This research is financially supported by Grant-in-Aid for Scientific Research from JSPS and MEXT. The second author also acknowledges the financial support by Zengin Foundation for studies on Economics and Finance.     

ON THE ROLE OF TAX SUBSIDY SCHEME IN MONEY SEARCH MODELS*

This article investigates the roles of policy in search models with divisible money. Recently, real indeterminacy of stationary equilibria has been found in both specific and general search models with divisible money. Thus if we assume the divisibility of money, it would be quite difficult to make accurate predictions of the effects of simple monetary policies. Therefore, in this article, we introduce a certain tax subsidy scheme and show that this is effective in selecting a determinate efficient equilibrium. In other words, for a given efficient equilibrium and for any real number δ > 0 , a certain tax subsidy scheme induces a locally determinate equilibrium within the δ‐neighborhood of the given equilibrium. Moreover, the size of the tax subsidy can be arbitrarily small.     

Appropriate assumption on cross-hauling national input–output table regionalization

Input–output tables are useful for regional economic analyses. Although scholars often regionalize national input–output tables, cost-related issues make surveying regional trade flow difficult; hence, non-survey approaches are implemented instead. While location quotient (LQ) approaches have been used widely, they ignore cross-hauling in interregional trade. Therefore, alternative non-survey approaches with different assumptions on cross-hauling are used, such as cross-hauling depends on regional size and cross-hauling is proportional to its potential determined by output or demand. This study concludes that the most appropriate assumption, as per the relative performance of non-survey approaches, is that cross-hauling is in proportion to trade volume.     

Habit formation and the present-value model of the current account: Yet another suspect

In a recent paper, Gruber (Gruber, J.W., 2004. A present value test of habits and the current account. Journal of Monetary Economics 51, 1495-1507) claims that habit formation in consumption plays an important role in current account fluctuations in selected developed countries, extending the present-value model of the current account (PVM) with consumption habits. In this paper, however, I show that the habit-forming PVM is observationally equivalent to the PVM augmented with persistent transitory consumption, which is induced by world real interest rate shocks. Based on a small open-economy real business cycle (SOE-RBC) model endowed with consumption habits as well as persistent world real interest rate shocks, this paper resolves the inherent identification problem of the habit-forming PVM by Bayesian methods to seek effects of habit formation on current account fluctuations in typical small open economies, Canada and the United Kingdom. Results reveal no clear evidence that habit formation plays a crucial role in current account fluctuations.     

A new necessary condition for implementation in iteratively undominated strategies

We uncover a new necessary condition for implementation in iteratively undominated strategies by mechanisms that satisfy the “best element property” where for each agent, there exists a strategy profile that gives him the highest payoff in the mechanism. This class includes finite and regular mechanisms. We conclude that either the quasilinearity-like assumptions of available sufficiency results cannot be completely dispensed with or some mechanisms that do not satisfy the best element property must be employed. We term the condition “restricted deception-proofness.” It requires that, in environments with identical preferences, the social choice function be immune to all deceptions, making it then stronger than incentive compatibility. In some environments the conditions for (exact or approximate) implementation by mechanisms satisfying the best element property are more restrictive than previously thought.     

The proposal and validity of the Customer Science Dual System--The key to corporate management innovation

A future successful global marketer must develop an excellent quality marketing system that impresses users and continuously provides excellent, quality products in a timely manner through corporate management. In this study, the authors proposed the Customer Science Dual System, CS-TMNS ＆ CS-SDSM. For the purpose of innovating strategic product development systems so called Customer Value Creative System, the Total Marketing Network System, CS-TMNS is established. In addition, for intelligent utilization of the established CS-TMNS, statistical science is incorporated so as to create the Strategic Designing Support Methods, CS-SDSM, as a new approach to the creation of wants that are vital to product planning and designing. Concretely, the author will also introduce the effectiveness of this system that reflects latent customer needs through scientific marketing application examples via Automobile Design Profile for the Younger Generation.