The Value of Employee Retention: Evidence From a Natural Experiment

We estimate the firm‐level returns to retaining employees using difference‐in‐differences analysis and a natural experiment where the enforcement of employee noncompete agreements was inadvertently reversed in Michigan. We find that noncompete enforcement boosted the short‐term value of publicly traded companies by approximately 9%. The effect is increasing in local competition and growth opportunities, and offset by patenting.     

Road Pricing: Solving the Technical Problems

How would road pricing work? Peter Hills and Phil Blythe, of Newcastle University, explain the technical developments which make a variety of road pricing schemes a genuine possibility.     

网络零售业中的动态定价模式

面对日益激烈的市场竞争和对客户群体的细分,动态定价策略越来越受到商家的青睐.尤其是近年来伴随着网络销售的出现和高科技的应用,基于需求的动态定价策略愈发显示出日益重要的意义.它为实现客户与企业资产回报最大化创造了新的途径.本文首先介绍了三种常见的动态定价策略,然后从经济意义和技术角度分析了动态定价策略的可能性和必要性,最后提出了动态定价策略面临的挑战.     

诺基亚移动互联改变生活

“爸爸．可不可以在手机上帮我查一下变形金刚什么时候有新的型号出来？”在机场候机时,儿子突然对邓元錾提出这样的问题。邓元望随即通过手机在互联网上查询到了所要寻找的信息。     

网络零售业中的动态定价模式

面对日益激烈的市场竞争和对客户群体的细分,动态定价策略越来越受到商家的青睐。尤其是近年来伴随着网络销售的出现和高科技的应用,基于需求的动态定价策略愈发显示出日益重要的意义。它为实现客户与企业资产回报最大化创造了新的途径。本文首先介绍了三种常见的动态定价策略,然后从经济意义和技术角度分析了动态定价策略的可能性和必要性,最后提出了动态定价策略面临的挑战。     

中国移动通信产品定价问题评述

移动通信市场竞争愈加激烈,价格策略作为各个竞争主体经常采用的竞争策略一直备受关注。分析移动通信产品定价问题,提出适合中国移动通信产品定价问题的定价方法和定价策略,无论是消费者、移动通信运营商还是政府,都会成为受益者。     

钢铁业上市公司财务指标与股票价格定位实证研究

随着中国股市的不断完善,上市公司质量成为影响股价的核心。为此,文章建立基于股票内在价值的多因素评价模型MFPM(MutipleFactorsPricingModel),探讨财务指标于股价的关系。文章发现每股净资产与股价的相关性最强,其次是盈利能力指标。而投资收益和股价仅有微弱的正相关关系,说明投资者对非主营业务收益对待趋于理性。经营活动的现金流与股价的负相关可能是由于盈余管理造成。     

移动互联网时代网络舆情传播特点研究

针对移动互联网的快速发展,首先分析了我国移动互联网的现状。然后总结了移动互联网不同于传统互联网的特点。根据移动互联网的这些特点,分析了移动互联网形势下网络舆情传播的新特点。最后,给出了应对移动互联网舆情安全的建议。     

移动互联网时代下的“定位理论”研究

定位理论,是营销学中的经典理论,由美国专家杰克·特劳特和艾·里斯于20世纪70年代提出,当时的商界、营销界、广告界甚至是个人品牌的销售领域都对定位理论极为推崇,奉若至宝。如今,随着互联网的迅猛发展,在自媒体时代和营销模式不断创新的背景下,定位理论是否还能继续适用?又或是跟随时代变化而延续更新呢?     

石油定价机制存在的问题及对策

石油是全球性重要战略资源,也是国民经济发展的命脉.近年来,国际石油价格的不断攀升,给国内石油市场造成巨大的冲击,石油价格问题已成为人们关注的焦点.     

Transparency of Retail Energy Pricing: Evidence from the US Natural Gas Industry

We test and cannot reject the hypothesis that retail pricing of natural gas is transparent for commercial and residential customers served by regulated local distribution companies in the United States. The periods of adjustment to a wholesale price change are 1.54 months for the commercial price and 1.69 months for the residential price. These findings support the view that regulated local distribution companies quickly adjust retail prices to fully capture any change in the wholesale natural gas price. Copyright © 2013 John Wiley & Sons, Ltd.     

State Prices of Conditional Quantiles: New Evidence on Time Variation in the Pricing Kernel

We develop a set of statistics to represent the option‐implied stochastic discount factor and we apply them to S&P 500 returns between 1990 and 2012. Our statistics, which we call state prices of conditional quantiles (SPOCQ), estimate the market's willingness to pay for insurance against outcomes in various quantiles of the return distribution. By estimating state prices at conditional quantiles, we separate variation in the shape of the pricing kernel from variation in the probability of a particular event. Thus, without imposing strong assumptions about the distribution of returns, we obtain a novel view of pricing‐kernel dynamics. We document six features of SPOCQ for the S&P 500. Most notably, and in contrast to recent studies, we find that the price of downside risk decreases when volatility increases. Under a standard asset pricing model, this result implies that most changes in volatility stem from fluctuations in idiosyncratic risk. Consistent with this interpretation, no known systematic risk factors such as consumer sentiment, liquidity or macroeconomic risk can account for the negative relationship between the price of downside risk and volatility. Copyright © 2016 John Wiley & Sons, Ltd.     

Internet usage and the shadow economy: Evidence from panel data

The enormous spread of the internet in the last 20 years has been having various economic consequences. In this paper I ask whether the spread of the internet aided or abetted the shadow economy. To this end, using a panel data of 152 countries over 9 years from 1999 to 2007, I examine the empirical relationship between the degree of internet usage and the size of the shadow economy. Panel and cross-section estimation results indicate that the association between internet usage and shadow economy size strongly interacts with GDP per-capita. I also suggest and then empirically test an economic mechanism to account for this observation.     

移动互联网时代区域性突发事件的演变

在“互联网+”时代,以微博、QQ、微信为代表的社交媒体迅速崛起,我国正处在社会转型当中,社会中各个行业发展不平衡,社会矛盾也渐渐地增多,这是群体突发性事件频发的原因。在当下的互联网时代,人与人之间的联系更紧密了,消息的传递也变得极其迅速,某些过度解读社会、民间舆论的事件混淆公众的视线,使某些事情变得无法控制,无限地扩大,严重影响社会的稳定性。     

Feedback in Tournaments under Commitment Problems: Experimental Evidence

We theoretically as well as experimentally analyze tournaments in which one of the agents leads over the other before entering the tournament, that is, in which one of the competitors benefits from a head start. The principal may decide upon informing the agents about the degree of this asymmetry. She cannot commit to giving feedback ex ante or not and, thus, chooses the strategy that is optimal for her ex post. In equilibrium, the principal reveals information if the asymmetry is not too large. Our experimental findings qualitatively confirm our theoretical prediction. Moreover, behavior of the principal and the agents is well aligned to each other.     

电子商务在移动互联网环境下的应用与实施

随着互联网和移动通信技术的迅速发展、不断融合,曾一度作为奢侈品的手机正逐步接替传统的家庭电话的功能,成为人们日常生活不可缺少的一部分。基于移动互联网的电子商务正在逐渐成为一种新的商业运作模式,文中对移动电子商务在我国目前发展的可行性和应用进行分析,对发展中存在的问题提出了一些对策研究,相信对促进我国电子商务在移动互联网环境下的应用与实施有较强的现实意义。     

移动互联网在我国旅游业中应用发展分析

随着智能手机的用户数量的急增以及其智能终端技术的飞速发展,移动互联网已逐步渗入旅游业,并改变着旅游业原有的传统商业模式,成为旅游业界关注的焦点和追捧的对象。各大在线旅游运营商纷纷推出了基于移动互联技术平台的新产品和新服务,文章分析了移动互联网在旅游业中的多种创新应用,并针对存在的问题提出了相应对策,对旅游业利用移动互联网有一定的指导意义。     

工程量清单计价模式现存问题探讨

从以往的工程项目来看,工程量清单计价在实践中暴露出一些问题,对工程量清单计价模式及存在的几个问题进行探讨。     

我国网络银行发展中的问题及对策研究

随着市场经济的逐步完善和电子商务的迅猛发展,网上交易大量增加。作为网络交易的支付平台,网络银行业务也与日俱增,其低廉的成本和广阔的前景,已逐渐受到人们的关注。但由于我国网上银行业务发展较晚,在网络基础设施建设、网络安全、网络银行的监管及法律法规等方面还存在很多问题,本文针对在网络银行发展中存在的这些问题进行了系统的分析,旨在探讨促进我国网络银行发展的一些对策措施。     

Price Stickiness in the US and Europe Revisited: Evidence from Internet Prices*

This paper compares price stickiness on the Internet and in traditional brick‐and‐mortar stores and examines differences across five countries: France, Germany, Italy, the UK and the US. Contrary to conventional retail prices, we find that Internet prices change less often in the US than in EU countries. However, this does not hold for all product categories. Second, prices on the Internet are not necessarily more flexible than prices in brick‐and‐mortar stores. Third, our dataset reveals substantial heterogeneity in the frequency of price changes across Internet shops. Finally, panel logit estimates suggest that the likelihood of observing a price change is a function of both state‐dependent and time‐dependent factors.