现代企业制胜的多维视角

影响企业成功的因素很多,诸要素彼此相互影响、互相制约,单纯强调某种因素是企业制胜法宝的观念是极其片面的。在激烈竞争的市场环境下,抓好生产、把握市场、管好财务、做好战略、搞活文化是现代企业制胜的多维视角。     

Understanding Asian business strategy: Modeling institution-based legitimacy-embedded efficiency

To understand the unique aspects of Asian business practice, we propose a conceptual framework of institution-based, legitimacy-embedded efficiency. We underscore the institutional foundations of Asian business practice and propose that gaining legitimacy takes priority in order to attain the efficiency that follows from legitimacy in Asian business practice. We then highlight several fundamental, philosophic principles that define the meaning of legitimacy and ways to achieve legitimacy in Asian societies. We also provide a brief summary of each paper in this special issue and then proceed to pinpoint desirable directions for further research in light of our conceptual framework.     

产业内贸易对东亚经济周期协动性影响的实证研究

本文从理论上分析了产业内贸易对东亚经济周期协动性的影响,基于1990-2009年的数据,首先分析了中国与东亚各国产业内贸易指数的动态变化;其次,运用HP滤波方法提取周期因子ct,验证了东亚经济周期的协动性。在此基础上,构建了以贸易强度和产业内贸易为自变量,经济周期协动性为因变量的回归模型,运用分期数据对产业内贸易与经济周期协动性进行了面板数据的固定效应回归分析。研究结果揭示:相较于贸易强度,产业内贸易对中国与东亚经济周期协动性的影响更直接更显著,产业内贸易是中国与东亚经济周期协动性的主要传导渠道。随着产业内贸易比重的提高,中国与东亚贸易伙伴经济周期的协动性趋强。     

安徽省广告媒体业生态环境研究

近年来,随着安徽省广告媒体业的迅猛发展以及广告市场竞争的加剧,出现了一系列违规操作、盲目发展、广告市场管理混乱、人才溃乏、跳槽等扰乱广告媒体业生态环境的问题。依据对安徽省广告媒体业调研的数据,从意识、行为、绩效等多层面科学分析安徽省广告媒体市场的经营态势,探讨并提出科学合理的广告媒体经营策略。     

旅游环境中民族文化的生态适应性变化研究——以张家界郝坪、包谷山土家族为例

旅游开发作为民族地区政府主导的经济行为,它所造成的社会影响与移民、传媒、族际交流等因素有着本质区别。选取了分别处于旅游影响辐射地带和核心区的两个村庄,采用实证研究法,以风俗礼仪、工艺传承、宗教节庆为测量指标,观测旅游环境中民族文化的变化特征,发现民族文化持有者群体在不同程度表现出实践行为和精神认同的分裂,在旅游业起步、发展阶段的背弃和成熟阶段的回归,集中体现了民族旅游区的文化嬗变是一个通过文化元素的生态制衡和文化主体的自觉选择,最终达成生态适应的过程。     

Venture capital or private equity? The Asian experience

Venture capital in Asia has exhibited remarkable growth over the last two decades. Researchers and practitioners have, however, expressed doubts as to whether what is being reported as venture capital in Asia can really be classified as such. Authors of scholarly studies often avoid this debate and, consequently, fail to caution readers about the applicability of their research findings. Through an exploration of the history, development, and composition of venture capital in Asia, this article not only confirms significant differences between Asian and traditional venture capital, but also finds that venture capital in Asia differs little from what is commonly called private equity. As such, a need exists within the venture capital literature to recognize this peculiarity of the Asian venture capital market. Moreover, venture capitalists considering expansion into Asia must comprehend the nature of the Asian market in order to avoid disillusionment and frustrations which may result from inadequate understanding.     

Where does ESG pay? The role of national culture in moderating the relationship between ESG performance and financial performance

This study investigates the moderating role of a country’s culture as an external contingency factor in the relationship between a firm’s environmental, social, and governance (ESG) performance and financial performance. Using ESG performance data of 4978 firms from 48 countries for 17 years, we argue that the financial return from engaging in ESG varies depending on the countries’ cultural aspects because stakeholder evaluations and appreciations for a firm’s ESG performance differ across nations. We find that a country that espouses a culture of high individualism or masculinity tends to appreciate and reflect on this more explicitly, strengthening the relationship between a firm’s ESG performance and financial performance. Contrastingly, in a country with a culture of high power distance or uncertainty avoidance, firms’ ESG efforts are less likely to be associated with financial performance. Our findings have important implications for multinational enterprises facing various cultural environments when dealing with heterogeneous stakeholder demands across countries.     

Relationship-Based Lending and Its Contribution to the East Asian Economic Crisis

Abstract

Since 1997, efforts to explain the East Asian economic crisis have proliferated with most analyses focusing on government profligacy, weak monetary policy, inadequate regulation of the region's financial services industry, too much speculative borrowing, unsustainable trade imbalances financed with easily withdrawn short-term financing, and both private sector and government corruption. Unfortunately, what has proven especially difficult for analysts and government officials, even with all of the research that has taken place, is reaching some consensus on which features of the crisis were symptoms and which were causes (Economist, 1998). One reason for this is that the explanations offered to date have been almost entirely western in perspective and, predictably, based strictly on application of the kind of economic models Krugman (1998) has described. Furthermore, most of the research has had a clear government and public policy focus rather than a strategic and managerial focus. Employing a behavioral finance/economics paradigm, this study explores the premise that the East Asian crisis was at least a partial function of a time-honored practice that has remained largely hidden from the Occidental eye and unmeasured by conventional economic modeling: the practice of Asian-style relationship-based lending.     

External environment and the moderating role of export market orientation

This research has two main objectives. The first is to fill the knowledge gap on the role which the external environment plays in the strategic behavior of exporting companies, taking into account the psychological distances between the domestic and foreign markets. The second aim is to clarify the role that market orientation plays in export activity, since the literature review shows conflicting results. The study provides insight into these issues through hypothesis testing of a conceptual model using a sample of 212 Spanish exporting companies. The results lead to two major conclusions: (a) in turbulent environments, exporting firms adapting the marketing mix program to the needs of foreign markets obtain a better export performance in highly competitive and psychologically distant markets; (b) although market orientation has a direct and positive effect on export performance, its main role is to support strategic decision making in exporting companies. In addition, market orientation moderates the relationship between marketing mix adaptation and export performance.     

How do ownership control position and national culture influence conflict resolution strategies in international joint ventures?

In this study, we investigate the relationship between ownership control position, national culture, and selection of conflict resolution strategies (CRS) of multinational corporations (MNCs) in their attempts to solve conflicts with local partners in international joint ventures (IJVs). The empirical evidence is based on a survey of 89 Nordic MNCs. The results show that MNCs select their CRS depending on their national culture and their ownership control position in IJVs. In addition, interesting results were found related to the interaction effects on the choice of CRS of national culture and ownership control position as well as of the trust between partners and national culture.     

The Struggle Against Sweatshops: Moving Toward Responsible Global Business

Today’s sweatshops violate our notions of justice, yet they continue to flourish. This is so because we have not settled on criteria that would allow us to condemn and do away with them and because the poor working conditions in certain places are preferable to the alternative of no job at all. In this paper, we examine these phenomena. We consider the definitional dilemmas posed by sweatshops by routing a standard definition of sweatshops through the precepts put forward in the literature on justice and virtue ethics. We conclude that fixing on definitions is pointless and misleading and that we are better off looking at whether or not a workplace violates the basic human rights of workers and whether or not the working conditions there cohere with situations on which we have already rendered judgments. In the end, we suggest guidelines for businesses that operate in the global workplace to help them avoid charges of running sweatshops. These recommendations account for the harsh living conditions in certain developing and emerging countries as well as the norms of societies in developed countries. * A summer research grant from the Frank G. Zarb School of Business at Hofstra University contributed toward making this research possible. Tara J. Radin is Visiting Assistant Professor in the Legal Studies and Business Ethics Department at the Wharton School and Assistant Director of The American College Center for Ethics in Financial Services. She earned a J.D. from the University of Virginia School of Law and an M.B.A. and Ph.D. in Management from the Darden School at the University of Virginia. Her research encompasses topics such as employment, global labor practices, technology, privacy, corporate governance, and stakeholder theory, and includes publications in journals such as Business Ethics Quarterly, Journal of Business Ethics, and American Business Law Journal. She is also co-author of Employment and Employee Rights, published by Blackwell Publishers, Ltd. Martin Calkins is Assistant Professor in the College of Management at the University of Massachusetts Boston. He earned a Ph.D. in management from the University of Virginia, M.Div. and Th.M. degrees in theology from the Weston School of Theology, and an M.I.M. in international management from the American Graduate School of International Management. His academic interests include moral theory (in particular, casuistry and virtue theory) as well as contemporary international business issues such as international codes, whistleblowing, sweatshops, and the impact of computer and Internet technologies on societies.     

基于文化与商务旅游融合的苏州金鸡湖景区发展策略研究

研究文化与旅游的融合,对促进商务旅游的进一步发展意义重大。通过对苏州金鸡湖商务景区调查问卷结果显示,丰富多样的文化活动是商务旅游景区的竞争力特征之一。苏州金鸡湖景区应大力依托演艺场馆,开发旅游演艺精品;结合李公堤三期、四期,开拓文化展馆旅游;紧扣景区商务特性,开发文化旅游购物产品;综合利用金鸡湖水域资源,开发休闲旅游路线;创新景区管理机制,保障景区旅游长效发展,从而将文化与商务旅游有效融合,提升景区竞争力。