Empirical evidence on occupation and industry specific human capital

This paper presents instrumental variables estimates of the effects of firm tenure, occupation specific work experience, industry specific work experience, and general work experience on wages using data from the 1979 Cohort of the National Longitudinal Survey of Youth. The estimates indicate that both occupation and industry specific human capital are key determinants of wages, and the importance of various types of human capital varies widely across one-digit occupations. Human capital is primarily occupation specific in occupations such as craftsmen, where workers realize a 14% increase in wages after five years of occupation specific experience but do not realize wage gains from industry specific experience. In contrast, human capital is primarily industry specific in other occupations such as managerial employment where workers realize a 23% wage increase after five years of industry specific work experience. In other occupations, such as professional employment, both occupation and industry specific human capital are key determinants of wages.     

Seasonality and non-linear price effects in scanner-data-based market-response models

Scanner data for fast moving consumer goods typically amount to panels of time series where both N and T are large. To reduce the number of parameters and to shrink parameters towards plausible and interpretable values, Hierarchical Bayes models turn out to be useful. Such models contain in the second level a stochastic model to describe the parameters in the first level.     

Seasonal Unit Root Tests with Structural Breaks in Deterministic Seasonality

The seasonal root tests of Hylleberg et al (1990) are extended using the sequential approach of Zivot and Andrews (1992). This paper presents Monte Carlo evidence to support a sequential approach to estimation and critical values are estimated. It is demonstrated that non-stationary data with structurally unstable deterministic seasonality can lead to low power in standard tests for seasonal roots. The sequential tests are applied to US agricultural price data and macroeconomic data and compared with the standard tests. Seasonal roots are rejected in all series.     

Measuring industry clockspeed in the systemic industry context

Industry clockspeed has been used in earlier literature to assess the rate of change of industries but this measure remains limited in its application in longitudinal analyses as well as in systemic industry contexts. Nevertheless, there is a growing need for such a measure as business ecosystems replace standalone products and organisations are required to manage their innovation process in increasingly systemic contexts. In this paper, we firstly derive a temporal measure of technological industry clockspeed, which evaluates the time between successively higher levels of performance in the industry's product technology, over time. We secondly derive a systemic technological industry clockspeed for systemic industry contexts, which measures the time required for a particular sub-industry to utilise the level of technological performance that is provisioned by another, interdependent sub-industry. In turn, we illustrate the use of these measures in an empirical study of the systemic personal computer industry. The results of our empirical illustration show that the proposed clockspeeds together provide informative measures of the pace of change for sub-industries and systemic industry. We subsequently discuss the organisational considerations and theoretical implications of the proposed measures.     

Linear indices in nonlinear structural equation models: best fitting proper indices and other composites

Quality & Quantity - The recent advent of nonlinear structural equation models with indices poses a new challenge to the measurement of scientific constructs. We discuss, exemplify and add to a...     

An Assessment of the Within-Year Seasonality in the Loan Loss Provisioning Behavior of European Banks

This study aims at assessing whether a significant within-year seasonality exists in the loan loss provisioning behavior of European listed banks observed in the period from 2004 to 2013. Since the accuracy of auditing processes and the level of disclosure requirements in financial reports differ among quarters, during the year, banks may have a leeway to underestimate and postpone the complete provisioning of loan losses in the less regulated and less audited quarters. We hypothesize that those differences are relevant factors which determine non-lower or significantly higher average levels of loan loss provisions in the half-yearly and especially in the annual financial reports than in the interim management statements disclosed in the first and the third quarters of the year. We also investigate the impact of the recent financial crisis and develop a special analysis for the ltalian banks＇ case. The empirical results support our hypotheses, suggesting that, in some cases, a convergence among quarterly levels of auditing processes and disclosure requirements may be needed. Our work contributes to the existing literature by providing additional evidences and considerations on the within-year seasonality in the loan loss provisioning behavior of European listed banks observed in the last decade.     

Seasonality, consumer heterogeneity and price indexes: the case of prepackaged software

This paper measures constant-quality price change for prepackaged software in the US using detailed and comprehensive scanner data. Because there is a large sales surge over the winter-holiday, it is important to account for seasonal variation. Using a novel approach to constructing a seasonally-adjusted cost-of-living price index that explicitly accounts for consumer heterogeneity, I find that from 1997 to 2003 constant-quality software prices declined at an average 15.9% at an annual rate. As a point of comparison, the Bureau of Labor Statistics reports average annual price declines of only 7.7% for prepackaged software.     

Ethnic polarization orderings and indices

An ethnic polarization index is a summary statistic of ethnic diversity in a population. Reynal-Querol (J Confl Resolut 46:29–54, 2002) suggested an index of ethnic polarization, the RQ index, and discussed its properties. In this paper we develop two ethnic polarization orderings that can rank ethnic distributions in terms of all ethnic polarization indices satisfying certain intuitively reasonable postulates. Some of these postulates and some additional ones taken from the earlier literature are employed to develop some axiomatic characterizations of the RQ index. In the process, a generalized form of the RQ index is also characterized.     

产业集群内涵与中国培育产业集群的战略思路

在全球经济一体化的进程中,有竞争力产品的生产商(协作企业)有向特定区域集聚的趋势,并在世界范围内形成了各具特色的产业群落。这些产业群落具有较强的竞争力,其产品不仅占据了大部分的市场份额,而且显示出显著的竞争优势,并在全球经济增长中起着越来越重要的作用,引起了人们的广泛关注。 从发达国家到发展中国家,为了增加本国的产业竞争力,都在推进产业的集群化发展战略。本文拟通过对国内外产业集群内涵与结构的研究,总结国内外产业集群形成的机制、特征,最后提出中国发展有竞争力产业集群的思路。     

王传福:我下半辈子就干汽车

在地球之上的中国,有一群造车的"大象",以踏实和坚韧向全球市场冲击。勇往无前是中国造车人的执著,"大象"的驱动为和牵引力,更是驱动整个汽车产业前行的动力。大象起舞,就是振兴民族工业的梦想,更是中国汽车选车人翘首的自信。     

Axiomatic properties of geo-logarithmic price indices

In the axiomatic approach to composite index numbers, a list of properties is given that both price and quantity indices should satisfy in order to ensure consistent comparisons. Usually, the price index is selected first and its cofactor is consequently adopted as the (implicit) quantity index. Unfortunately, even if the price index has good axiomatic properties, its cofactor need not, so the implicit quantity comparison may be axiomatically inconsistent. In this paper, we give a comprehensive study of a family of price indices sharing good axiomatic properties (proportionality, commensurability, and homogeneity) together with their cofactors. This family, called geo-logarithmic, is relevant also because of the empirical circumstance that all known price indices sharing such properties with their cofactors belong to it or can be obtained from geo-logarithmic index numbers through simple transformations. Thus, the geo-logarithmic family seems to play a central role when the joint consistency of price and quantity comparisons is concerned.     

2004年房地产业该向汽车业学些什么?

一场充满喜剧色彩的<龟兔赛跑> 应当说:三年前的2001年,在中国经济中扮演重要角色的中国房地产与中国汽车业,曾经是在同一个起跑线上的.     

Economic misconceptions in the pharmaceutical industry

The pharmaceutical industry has failed to defend itself effectively against criticisms of its economic behaviour, because it has largely failed to understand the factors affecting its own economic structure. These concern the importance of competitive research and pricing, and the need to protect and nurture the fruits of its innovation by the use of patents, brand names and sales promotion. There is still need for a better understanding of the importance of these factors both outside the industry and amongst its own staff, if its contribution to modern medical technology is not to be stifled by irrational criticisms and controls.     

Intrapreneurship model in the software industry

Quality & Quantity - The complexity of business dynamics demands that companies search for alternative ways to ensure their growth and survival. Thus intrapreneurship emerges as an ad-hoc...     

AGV在柴油发动机行业的应用

"AGV应用于柴油发动机行业,能够大大提高发动机生产的柔性和生产效率,极大地降低生产成本和工人的劳动强度."     

Turnover culture in the hospitality industry

Although turnover culture is considered to be a major problem in the hospitality industry, there is little to no research examining its influence on an employee's decision to stay or leave. This study attempts to address this deficiency by testing a causal model of employee intent to leave using a sample of 246 employees from six five-star accommodation hotels in Australia. The results indicated that turnover culture was the most important determinant of intent to leave, followed by the variables of job search behaviour, job opportunity, organisational commitment, union loyalty, job satisfaction, career development, routinisation, promotional opportunity, role conflict, and negative affectivity. Based on these findings various HR strategies are formulated, which have wider implications for the management of turnover in other work settings.