It Is Much Bigger Than What We Thought: New Estimate of Trade Diversion

Estimates of the trade diversion (TD) effect of preferential trade agreements (PTAs) tend to be much smaller than that of the trade creation (TC) effect. This paper examines two sources of estimation bias of the TD effect. The first bias arises from the failure to recognise that the concept of TD is inapplicable for a substantial proportion of PTAs, and thus, previous studies wrongly count cases where trade cannot be diverted as cases where trade is not diverted. The second bias arises from the difficulty in controlling for multilateral resistance and other unobserved time‐varying country heterogeneity when estimating both TC and TD effects simultaneously due to perfect multicollinearity. This paper corrects these two biases using a new measure of TD which provides a better mapping between the concept and data characteristics. Removing the two sources of bias leads to a multifold increase in the estimate of the TD effect. It is found that the total TD effect is comparable to the TC effect in dollar terms.     

经济危机中,我们收获了什么

<正>零点研究咨询集团6月8日发布的《2009’零点城市生活调查报告》指出:经济危机之中,普通公众不经意的生活方式改变之中,其实蕴含着很多积极正面的信息。经济危机带给我们的不仅仅是     

Defining Respectful Leadership: What It Is,How It Can Be Measured,and Another Glimpse at What It Is Related to

Research on work values shows that respectful leadership is highly desired by employees. On the applied side, however, the extant research does not offer many insights as to which concrete leadership behaviors are perceived by employees as indications of respectful leadership. Thus, to offer such insights, we collected and content analyzed employees’ narrations of encounters with respectful leadership (N ₁ = 426). The coding process resulted in 19 categories of respectful leadership spanning 149 leadership behaviors. Furthermore, to also harness this comprehensive repertoire for quantitative organizational research, we undertook two more studies (N _2a = 228; N _2b = 412) to empirically derive a feasible item-based measurement of respectful leadership and assess its psychometric qualities. In these studies, we additionally investigated the relationships between respectful leadership as assessed with this new measurement and employees’ vertical and contextual followership as assessed via subordinates’ identification with their leaders, their appraisal respect for their leaders, their feeling of self-determination, and their job satisfaction.     

What We Know and Don't Know About Online Word-of-Mouth: A Review and Synthesis of the Literature

Electronic word-of mouth (eWOM) has attracted considerable interest from researchers in the past decade. Although the extant research has helped us to develop a good understanding of a number of the issues pertaining to eWOM, several research and managerial questions remain. Furthermore, no attempt has been made to consolidate and synthesize this stream of research. With consumers' increasing reliance on online retailing and information seeking, as well as the continued growth of social media, the importance of eWOM cannot be overstated. Based on a systematic review of 190 studies, we conduct a multi-dimensional analysis of eWOM communication. We present the key issues in current and emerging literature and propose important questions for future research.     

Why the WTO is Deadlocked: And What Can Be Done About It

The GATT was hugely successful, yet its successor organisation is to date failing. This paper argues that the expansion in both scope and membership make it radically more difficult for a purely bargain‐based organisation to succeed. Three factors limit the scope for deals that would be recognised as mutually beneficial. Many developing countries are accustomed to transfers rather than bargains; the poorest countries have no basis for bargaining; and even where mutual advantage is possible it requires cross‐sectoral deals which are only feasible with new rules that are unattractive to many WTO members. The paper proposes solutions to these new problems. It proposes an explicit component of ‘transfer’ in the form of non‐reciprocated liberalisation. It proposes a plurilateral solution to the tension between rules and sovereignty. It links these through a ‘grand bargain’ that offers transfers in return for plurilateralism. For the marginalised countries it proposes time‐bound preferences in OECD markets along the lines of AGOA. Finally, to recreate for the larger developing countries similar incentives for liberalisation to those previously achieved for developed countries, it proposes a limited MFN, through which they could restrict their liberalisations to include only other developing countries.     

Price Knowledge During Grocery Shopping: What We Learn and What We Forget

Past research on consumer price knowledge has varied considerably partly due to differences in how and when price knowledge is measured. This paper applies a multi-point, multi-measure approach to reconcile differences in past price knowledge research by examining systematic relationships between time of measurement and type of measures applied. Examination of consumer price knowledge before, during, and after store visit sheds light on what is measured at the individual points in time: episodic price knowledge and/or reference prices? With a between-subjects design interviewing 1,204 respondents, the authors investigate three price knowledge measures (price recall, price recognition, and deal spotting) demonstrating that these are hierarchically related. Results suggest that reference prices dominate before store visit, but also that episodic price knowledge, surprisingly, is still accessible at the store exit. These findings enable the authors to reconcile diverging results from past research, showing how consumer price knowledge evolves and suggesting that the vast majority of consumers learn about prices, whether consciously or unconsciously, during grocery shopping. Thus, when applying a multi-point, multi-measure approach, consumers appear to know more about prices than suggested by past research. Determinants of price knowledge are also examined and the results indicate that price knowledge builds up not only because of active search but also due to accidental exposure to prices and with low degrees of conscious processing. Implications for managers are discussed.     

It Is Time to Change How We Think about Electricity: Getting the Consumer Involved

The electricity supply industry operated for over a hundred years under a regulatory framework that viewed our economic welfare as directly linked to our increasing consumption of electricity. The public utility under its obligation to serve customers designed a system to meet the growing consumption needs of the public. Today both our attitude toward energy and our technological capabilities allow the consumer to play their proper role as informed customers. The consumer can now deploy conservation technologies, and state regulators have begun to modify the form of regulation employed policies that enable conservation and energy efficiency choices on the consumers' part. This article examines the history of this transformation in the consumers' role within the electric system and the implications this has for the evolution in regulatory policy that is now harnessing the power of consumer involvement and breaking the link between profits and sales.     

Industrial Clusters and Corporate Social Responsibility in Developing Countries: What We Know,What We do not Know,and What We Need to Know

This article provides a review of what we know, what we do not know, and what we need to know about the relationship between industrial clusters and corporate social responsibility (CSR) in developing countries. In addition to the drivers of and barriers to the adoption of CSR initiatives, this study highlights key lessons learned from empirical studies of CSR initiatives that aimed to improve environmental management and work conditions and reduce poverty in local industrial districts. Academic work in this area remains embryonic, lacking in empirical evidence about the effects of CSR interventions on the profitability on local enterprises, workers, and the environment. Nor do theoretical frameworks offer clear explanations of the institutionalization and effects of CSR in local industrial districts in the developing world. Other key limitations in this research stream include an excessive focus on export-oriented industrial clusters, the risk that CSR becomes a form of economic and cultural imperialism, and the potential for joint-action CSR initiatives in clusters of small and medium-sized enterprises to offer a new form of greenwashing. From this review, the authors develop a theoretical model to explain why CSR has not become institutionalized in many developing country clusters, which in turn suggests that the vast majority of industrial clusters in developing countries are likely to engage in socially irresponsible behavior.     

We Must De It,Do It Persistently,and Do It Well

The start of the sixth session of the China Auto Inter- national Exhibition Tour brings a Chinese wind that sweeps across auto markets both at home and abroad.To strike while the iron is hot,China's Foreign Trade in-     

We Must Do It,Do It Persistently,and Do It Well

The start of the sixth session of the China Auto International Exhibition Tour brings a Chinese wind that sweeps across auto markds both at home and abroad.     

We Must De It,Do It Persistently,and Do It Well

The start of the sixth session of the China Auto Inter- national Exhibition Tour brings a Chinese wind that sweeps across auto markets both at home and abroad.To strike while the iron is hot,China's Foreign Trade in-     

Summer Davos： We Have Confidence in China＇s Economy

＂In the last Winter Davos, when it was the most pessimistic period for the economy in North America and West Europe, Chinese Premier Wen Jiabao declared China＇s economic growth this year was targeted at 8 percent. That firm tone encouraged the whole world. And 8 months have been past, and we just see that China is exactly on the track to achieve this goal. We have confidence in China＇s economy. No doubtedly.＂ Jeremy Jurgens, Senior Director at the World Economic Forum and Head of the Annual Meeting of the New Champions and Community of Global Growth Companies expressed so in a World Economic Forum press conference in Beijing, September 3.     

责任品牌：企业竞争新要素

所谓责任品牌战略,就是企业在品牌塑造过程中,在解决相应社会与环境问题的同时,运用自身专业优势,融入公司及核心产品价值,与公众紧密联系、具有战略眼光的企业公民行为。     

What Is and What Is Not Social Marketing: The Challenge of Reviewing the Evidence

This paper describes our experience in undertaking a review of the effectiveness of using social marketing to tackle nutrition problems. One of the biggest challenges was identifying programmes which could be genuinely defined as 'social marketing'. Here we describe how we applied and tested a framework for identifying and assessing legitimate social marketing research. Implications for both social marketing theory and practice are discussed.     

Think Global, Invest Responsible: Why the Private Equity Industry Goes Green

The growth of socially responsible investment (SRI) on public financial markets has drawn considerable academic attention over the last decade. Discarding from the previous literature, this article sets up to analyze the Private Equity channel, which is shown to have the potentiality to foster sustainable practices in unlisted companies. The fast integration of the environmental, social and governance issues by mainstream Private Equity investors is unveiled and appears to have benefited from the maturation of SRI on public financial markets and the impetus of large conventional actors. Hypotheses on the characteristics and drivers of this movement are proposed and tested on a unique database covering the French Private Equity industry in 2011. Empirical findings support that Private Equity socially responsible investing is characterized by investor engagement and strategically driven by a need for new value creation sources, increased risk management and differentiation. In particular, results show that independent funds, which need to attract investors, are more likely than captive funds to develop socially responsible practices. Evolution of the movement and future research paths are proposed.     

The World Credit Crisis: Understanding It,and What to Do

The origin of the world credit crisis has four stages: (1) too much credit – an international perspective; (2) too much risk – reaction to low real interest rate; (3) the fatal flaw – the new complex financial instruments; and (4) the panic – bank lending dries up. The paper also discusses how the crisis spread around the world from the US, whether the high credit expansion was the fault of Alan Greenspan, whether China is to blame, and how this crisis related to the often expected crisis of global imbalances. Some implications for long‐term reform are discussed.