Organizational innovation and structure

The relationship between organizational innovation and structure in 31 manufacturing organizations in a developing country is examined. The analysis indicates three findings: (1) multi-item scales developed in the U.S. are, with some revisions, reliable in a developing context; (2) the relationships established between organizational innovation and structural variables in the advanced context are generally supported in a developing context; that is, organizational innovation is positively related to professional training, professional activity, integration, and inversely related to job codification and hierarchy of authority; and (3) the relationships generally hold regardless of size and age of the organizations.     

评析美国对源自中国进口产品反倾销案中替代国价格的确定——兼评美国国际贸易法院对中国圆形焊接奥氏体不锈高压套管反倾销重审结果案判决

美国Bristol金属公司等不满美国商务部对来自中国的圆形焊接奥氏体不锈高压套管替代国价格的选择以及对一家中国公司的单独税率地位确定的重审结果,向美国国际贸易法院提起诉讼。美国国际贸易法院裁定,该重审结果或有实体证据支持,或符合法律,因此判决支持美国商务部的重审结果。本文在介绍该案的基本案情、归纳法院推理和判决的基础上,对该案涉及的法律问题特别是美国反倾销法律和实践中的替代国价格确定作了简要评析。     

Growing market concentration and changes in consumer welfare: The case of the U.S. commercial airline market

Initial assessments of the economic deregulation of the U.S. airline industry indicated that most consumers gained from the increased competition in the airline market. More recent studies have reached less favorable conclusions. In this study, changes in passenger welfare are determined for 19 U.S. destination cities for the years 1979, 1983, and 1987 on the basis of Hicks' equivalent variation measure, using a counterfactual research design. Particular attention is given to variations in consumer welfare gains/losses depending on (a) the proportion of the change in air fares attributed to deregulation, and (b) the destination airport's classification. The estimates suggest that travelers to large, long-standing hub cities were generally insulated from any large post-1979 welfare changes. Travelers to new hubs experienced substantial welfare declines between 1979 and 1987 — although their post-1983 welfare changes were uniformly positive. Travel to nonhub airports showed the greatest variance, with both the relatively largest welfare gains and the relatively largest losses.     

Does governing law affect bond spreads?

Controlling for bond and issuer characteristics, bond spreads are expected to be equal across different legal jurisdictions, and differences are expected to disappear through arbitrage. However, an analysis of 490 U.S. dollar–denominated bonds issued by 53 emerging market sovereigns during 1990–2015 reveals that after the financial crisis of 2008, launch spreads of sovereign bonds issued under U.K. law have been higher than those issued under U.S. law, by 130 basis points for BB+ bonds and 175 basis points for B− bonds. This effect was not significant for investment grade bonds. On average, bonds issued under U.K. law had weaker ratings and shorter tenors post-crisis. The post-crisis impact of governing law on sovereign bond spreads is not explained by collective action clauses, or first-time bond issuances. Instead, the difference seems to be related to the perception that U.S. law offers stronger investor protection, and that the investor base for bonds issued under U.S. law is larger than that for bonds issued under U.K. law. The difference in spreads persists in the secondary market even after 180 days, perhaps because of the lack of liquidity, as investors tend to buy and hold these more attractive bonds on a longer-term basis.     

Financial Innovation;A Double-Edged Sword？——Lessons from the Subprime Mortgage Crisis

The U.S.suffers The United States is a nation famous for its power of innovation,universally acknowledged as the major factor that makes the U.S.the worlds＇ economic and political superpower.Without it,the U.S. would not have reached the level of prosperity it has in the world.But today,things are far from the optimistic picture than we once anticipated. Innovation sometimes turns into a monster, one which has struck again with the recent financial turmoil set off by the subprime mortgage crisis.     

Impact of Horizontal Mergers on Research & Development and Patenting: Evidence from Merger Challenges in the U.S.

This paper contributes further empirical evidence on the effects of mergers on innovation using company level data. Evidence on this issue has implications for the relationship between innovation and market concentration. Our departure from previous work is that we focus on a sample of horizontal mergers whose market concentration impacts were flagged by U.S. antitrust authorities as potentially posing a problem for antitrust law compliance. We employ propensity score matching and difference-in-differences estimation to compare the innovation activities of challenged and non-challenged merger firms to a control group of non-merged firms. We use R&D, patent grants, and citation-weighted patent grants to measure the innovation activities of firms before and after a merger. Our results indicate that the post-merger innovation outcomes of firms whose mergers were challenged are lower than they would have been had the firms not merged. But for non-challenged mergers, or mergers that do not raise concerns about market concentration, post-merger innovation outcomes are not significantly different from what they would have been without a merger.     

Art of the possible or fool's errand? Diffusion of large-scale management innovation

Organizations are continually challenged to increase efficiency and improve performance despite frequent cuts to personnel and budgets. These challenges force organizations to identify, develop, and diffuse various management innovations. Diffusion efforts are often met by resistance, reluctance, or ambivalence, resulting in what many consider to be a fool's errand. While management innovation may not be the forte of large, bureaucratic organizations, we present a case study of a U.S. Air Force maintenance, repair, and overhaul organization that has recently, and successfully, diffused a large-scale management innovation. Results from the case study support the development of a diffusion of innovation framework that identifies important mechanisms associated with the acceptance, routinization, and assimilation of management innovation. The framework informs leaders of the diffusion process, while the recommended actions of relentless leadership, deliberate development of personnel, and enterprise involvement drive diffusion efforts and help leaders achieve desired results in innovation diffusion and associated performance improvement. Overall, we assert that the pursuit of management innovation is not necessarily beyond the art of the possible for business leaders.     

Open innovation requires integrated competition-community ecosystems: Lessons learned from civic open innovation

Open innovation has received substantial business attention as a means of providing firms in hyper-competitive environments with the ability to create a stream of new products and services. For open innovation, organizing external sources correctly is a critical capability; current literature suggests that external sources should be organized either as collaborative communities or as competitive markets. While firms have generally been slow to adopt open innovation, many cities in the U.S. and Europe have been quick to embrace it—providing needed field-based experience on how to organize external sources. Based on our examination of six cities opening their data for innovation, we found that while cities often started with one or the other approach to organizing their external sources, each approach was inadequate in ways that could potentially be addressed by the addition of the other approach. Thus, we conclude with an integrated approach in which the needs of the entire ecosystem of sources and supporters of innovation are organized to address both competitive and community needs.     

中国绿色能源产业面临反补贴诉讼的可能性及抗辩——从“启动援助”案的解读谈起

我国通过各种途径扶植绿色能源产业,包括美国在内的许多国家都会有扶植政策。但中国目前的扶植政策可能会面临来自美国贸易代表处的WTO诉讼。日前,WTO专家小组公布了美国提起的诉欧洲各国政府通过"启动.助"(Launch aid)对空中客车航空公司提供补贴一案的终裁结果。在终裁意见中,专家小组对如何认定可诉性补贴、禁止性补贴;如何计算补贴利益提出了重要的观点。通过该案件的分析,我们可以预测美国是否会对中国的绿色能源产业提起反补贴诉讼。同时,依据"启动.助"案中美国与欧盟两方的起诉与抗辩,本文欲为绿色能源产业可能面临的诉讼建立起有利的抗辩。首先中国政府可试图证明对可再生能源的出口的做法不符合"补贴"的定义,其次应从法律文本中删除任何涉及与出口收入或出口实绩相关的话语或条款,从而避免被认定为法律上的禁止性补贴,再次应从"严重歧视"这一突破口证明对可再生能源产业的做法并不符合可诉性补贴。最后,本文认为如果依据专家小组在"启动.助"案的利益计算方法,我国的做法极易被认定为补贴。     

次贷危机对我国金融创新监管的启示

通过对次贷危机传导机制的分析我们可以看到,对金融创新监管的滞后、不到位是导致危机迅速扩大蔓延的重要原因,这暴露出美国金融监管体制在金融创新监管方面存在的缺陷,而我国在金融创新监管方面与美国存在一些共性的问题,我们要正确处理金融创新与金融监管关系,完善监管体系结构,较变"机构监管"为"功能监管",创新监管方式。     

Some New Evidence on the Determinants of Large- and Small-Firm Innovation

Empirical analyses presented by Acs and Audretsch suggest differences in the market structure determinants of innovation between large and small firms in U.S. manufacturing. The evidence they offer is ambiguous. By using data for a different country (The Netherlands), a different measure of innovation and a different aggregation level, we offer new evidence, allowing a revaluation of the findings for the U.S. material. Moreover, the influence of the market structure determinants does not appear to differ between a period of sluggish growth (1983) and one of relatively high growth (1989).     

The campus as entrepreneurial ecosystem: the University of Chicago

This paper employs Frederick Jackson Turner’s Frontier Thesis of American democracy to construct a framework for understanding the U.S. university campus as an entrepreneurial ecosystem. One question that immediately comes to mind when studying ecosystem performance is what the proper unit of analysis is: the country, the state, the city, the region, or something smaller, like an incubator or accelerator? This paper suggests that the open, innovative American frontier that closed at the end of the twentieth century has reemerged in the entrepreneurial economy on the U.S. campus. The contemporary campus entrepreneurial ecosystem offers the characteristics of Turner’s frontier: available assets, liberty, and diversity while creating opportunity, and fostering entrepreneurship and innovation. A case study of the University of Chicago explores governance of the campus as an entrepreneurial ecosystem and the output produced by that campus ecosystem.     

Movies and the Mystery of the Missing Trade: Is Hollywood Good for U.S. Exporters?

Research has shown that consumers have a preference for goods based on the origin of production. This is important because it suggests that, in some cases, even lowering trade barriers may not significantly increase trade flows. In particular, flows may be lower than are predicted by trade theories such as Heckscher-Ohlin. Despite evidence that home consumption bias exists in many countries, it is only recently that research has begun to examine the sources of this bias.

This article fills a gap in the literature by testing a model that addresses the source of this consumption bias. The paper's model incorporates consumers' exposure to foreign products and culture through media imports and tourist visits as factors affecting consumers' preferences for foreign products. Using panel data from 19 countries, the article's results support the hypothesis that lagged exports of U.S. movies have a positive impact on other U.S. exports. Some evidence is also found of a positive effect of tourist visits on U.S. exports.

Since U.S. media exports may generate demand for other U.S. goods and services, opening up foreign media markets should receive a higher priority in U.S. trade negotiations. Another interesting implication of the paper is that overall U.S. export losses resulting from media piracy may be lower than previously calculated, as the consumption of pirated media products may increase demand for other U.S. exports.     

Positive Law as an Ethic: Illustrations of the Ascent of Positive Law to Ethical Status in the Commercial Sector

This article begins with four situations, the first three of which are common to many businesspeople and persons in the United States today and the fourth, unfortunately, is growing: Setting the minimum level at which workers are paid; going bankrupt to avoid paying for credit card purchases, claiming a questionable deduction in calculating one's federal income tax liability, and violating the law in every state by a major U.S. corporation.These cases support the idea that positive law is the operative ethic for persons in a commercial setting. Reasons advanced for this phenomenon are ethical ambiguity, lack of personal responsibility, increasing technicality of contemporary society, and the fact that the law is now seen as the most that is expected of businesspersons. In arriving at the paper's conclusions, positive law theory is discussed. Data are presented to explain why these illustrations are not mere anecdotal examples but represent broad contemporary occurrences in the U.S.     

The new wave of regional innovation networks: Analysis,characteristics and strategy

Today, the number one priority for competitive advantage is innovation. A new approach to regional business development has been pioneered in Europe and the U.S.A. This involves building a regional innovation infrastructure. Learning through networking has proven to be a successful approach in some of Europe's more dynamic regional economics such as Baden-Württemberg and Emilia-Romagna. This involves maximising the complete range of regional innovation assets. The state of Pennsylvania and other older industry centres are showing that such an approach is transferable from Europe to the U.S.A. The paper assesses knowledge-transfer at the regional level and outlines the key elements for successful regional innovation networking practices. The major finding(s) are that business networking is an effective way of increasing company turnover; that not-for-profit organizations are excellent for setting up networks because they are trusted, and that innovation networks are perhaps the most difficult, thought-requiring but important of the types of business network conceivable.     

美国银行股东、董事之特殊责任探究

美国银行法施加于包括银行股东、董事在内的机构关联方特殊的法律责任,是其监管者在监管实践中所创制的监管措施,其目的是保护存款人及公共利益,防范金融风险。就美国银行股东及董事的特殊责任、其产生的历史原因及价值等问题进行深入思考,会对中国相关金融监管立法有所裨益。     

Healthcare reform and its implications for the U.S. economy

U.S. healthcare is currently a poor value proposition in relation to its cost. This must change. Driven by the fundamental forces of financing, consumer preferences, and technology, the U.S. is heading for a profound revolution in healthcare, one that will affect not only the system itself but also the larger U.S. business community. This new healthcare system will create vast opportunities and commensurately large risks for healthcare innovators. The outcomes of the present healthcare reform debate will either liberate or further shackle these innovators. Reforms that depend on governmental controls are more likely to dampen innovation than those achieved through control by consumers, and given the profound ramifications of healthcare reform outcomes, policy makers would be well-advised to harness the forces of consumerism in fashioning reform.     

特朗普政府对华投资保护政策的新进展与中国对策

美国对华投资保护逐渐加强,并呈现出新表现和新特点。美国对华投资保护政策转变的原因包括:美国通过遏制中国的科技创新能力来巩固其全球科技领导地位;美国各界对"中国崛起"达成新的共识;美国对中国对外投资规模和投资模式的担忧;"非对称"和"非互惠"的双边投资准入政策等等。除此之外,美国对华投资保护政策存在以下影响:未来双边或多边投资框架协定可能会朝着更加有利于"美国优先"的方向发展;美国对华投资保护的不断升级或将产生连锁反应;美国将重点打压中国高端制造业和技术密集型产业投资;美国通过重塑和强化以美国为主导的全球价值链阻碍中国向价值链高端攀升。     

Policies Promoting Innovation in Small Firms: Evidence from the U.S. and U.K.

We provide background information on U.S. and U.K. policies promoting innovation in small firms and also summarize the papers that appear in this special issue. These studies were presented at a recent workshop that was jointly organized by the University of Nottingham Institute for Enterprise and Innovation (UNIEI) and the Board on Science, Technology, and Economic Policy (STEP) of the U.S. National Academy of Sciences. Based on a synthesis of these papers and other evidence that was presented during the workshop, we conclude that: (1) program evaluation is much more prevalent in the U.S. than in the U.K.; (2) the U.S. Advanced Technology Program (ATP) and Small Business Innovation Research (SBIR) program have been successful; and (3) shared costs between government and industry and frequent assessment are the keys to ensuring that such programs are successful.