企业资本经营:理论与实践

资本经营立足于资本流动与调配,着眼于资产重组与整合,强调资本的优化组合,其目标是实现整体资源的高效利用与效益最大化。现代企业资本经营对于企业发展至关重要,但资本经营不是万能的,企业进行资本经营应从战略的角度和企业实际出发。企业资本经营有多种方式。我们应积极借鉴国际市场资本经营的经验与教训,采取必要且可行的资本经营手段,加强企业的改造与联合,提高资源的利用效率。     

How firm capabilities affect who benefits from foreign technology

We explore how firm capabilities affect the diffusion of technology brought with foreign direct investment (FDI). Using a panel dataset on Indonesian manufacturers from 1988 to 1996, we measure how the productivity of differing domestic firms responds to the entry of multinational competitors. We find that firms with investments in research and development and firms with highly educated employees adopt more technology from foreign entrants than others. In contrast, firms that have a small “technology gap,” meaning that they are close to the international best-practice frontier, benefit less than firms with weak prior technical competency. This finding suggests that the marginal return to new knowledge is greater for firms that have more room to “catch up” than it is for already competitive firms.     

推进新型工业化过程中我国外贸发展战略选择

外贸、工业化互动发展及由此形成的贸易-工业化战略是开放经济条件下一国促进经济发展的重要战略取向与途径。随着经济结构的演进升级、增长方式的转变、可持续发展的要求等经济环境的变化,走新型工业化道路,实现生产力的跨越式发展成为新世纪新时期我国经济发展的重大战略部署。外贸因此面临着与新型工业化道路相适应的发展要求,需要在科技、人才、商品、贸易形式等原有战略基础上,更加自觉地从发挥经济系统整体功能、促进结构升级、提升竞争力等方面着眼,以实现新型工业化的目标和促进经济更快更好地发展。     

Price competition when consumer behavior is characterized by conformity or vanity

It has long been recognized that the pleasure of consuming a good may be affected by the consumption choice of other consumers. In some cases, social pressures may lead to conformity; in some others, individuals may feel the need of exclusiveness under the form of vanity. Such externalities have proven to be important in several markets. However, the market implication of these externalities are still unclear. To investigate them, we propose to combine the consumption externality model and the spatial duopoly model. When conformity is present but not too strong, both firms remain in business but price competition is fiercer and results in lower prices. The market share of the large firm increases with the population size; as the population keeps rising, the large firm may serve the entire market and set a price that has the nature of a limit price. When conformity is strong enough, different equilibria may exist. In most of these equilibria, a single firm captures the whole market. At the other extreme, when vanity is at work, price competition is relaxed.     

How firm capabilities affect who benefits from foreign technology

We explore how firm capabilities affect the diffusion of technology brought with foreign direct investment (FDI). Using a panel dataset on Indonesian manufacturers from 1988 to 1996, we measure how the productivity of differing domestic firms responds to the entry of multinational competitors. We find that firms with investments in research and development and firms with highly educated employees adopt more technology from foreign entrants than others. In contrast, firms that have a small “technology gap,” meaning that they are close to the international best-practice frontier, benefit less than firms with weak prior technical competency. This finding suggests that the marginal return to new knowledge is greater for firms that have more room to “catch up” than it is for already competitive firms.     

Mandating behavioral conformity in social groups with conformist members

Social interaction among individuals with a preference for conformity gives rise to coordination externalities which are not internalized in a non-cooperative setting. Mandating behavioral conformity, by centrally imposing a common, group-wide action, internalizes these coordination externalities, but also comes at a cost of restraining individuals’ self-regarding goals. We explore a framework of social interaction among privately informed individuals with conformist preferences to examine when mandating behavioral conformity improves group welfare. Our analysis elucidates how the desirability of mandating behavioral conformity is shaped by the group's socio-economic structure. We find that mandating behavioral conformity is not desirable in social groups that are ex ante homogeneous—either with respect to members’ contribution to group welfare or their innate conformist tendency. In contrast, mandating behavioral conformity can be beneficial in those ex ante heterogeneous social groups where the individuals who contribute most to group welfare also exhibit the strongest preference for conformity.     

International diffusion of steel technologies: Time-lag and the speed of diffusion

The article deals with the diffusion of two major innovations in the world's steel industry, the oxygen steel process and continuous casting. Twenty-one countries, including the socialist countries of Eastern Europe, are analyzed from the point of view of their ability to adopt technology from pioneering countries. Among capitalist countries, Great Britain and the United States appear to be slower than others. Eastern European countries and the Soviet Union as a group show a lower ability to adopt technologies than capitalist countries, even the slowest ones. G. Ray's hypothesis that countries that are late-comers in adopting a particular technology benefit from that and are faster in spreading it over their industry is challenged. The correlation analysis shows that at least in one case, the oxygen steel process, the late-comers are not faster in diffusion than countries that were first in introducing new technology. It is concluded from empirical findings that late-comers may not be faster in diffusion if there is a lack of good communication (the Eastern European countries case) or when the technology in question is relatively simple and benefits from being late are insignificant (the case of oxygen steel process).     

武汉新区旅游资源系统整合与深度开发的构想

武汉新区是武汉市正在建设培育的市级旅游中心，该区旅游资源类型齐全、等级较高，旅游业发展势头强劲。分析武汉新区旅游业发展的SWOT，提出新区旅游资源深度开发与整合的战略构想。     

The political reception of innovations

Why do some societies embrace innovative technologies, policies, and ideas, while others are slow to adopt, and some even resist, them? Incumbent producers are most likely to be affected by certain kinds of innovations; they also wield a disproportionate influence in the design of institutions and policies that encourage or limit their adoption. We show formally that the elite has four cardinal policy options: to appropriate the innovation for itself; to encourage its adoption; to tax, regulate, or limit the innovation; or to block it. We show that six features of an innovation determine how it is received: (i) whether it is easy to replicate; (ii) whether it complements or competes with the elite's sources of income; (iii) whether its impact is broad or narrow; (iv) whether it is location-dependent, and (v) concealable; (vi) whether it requires large fixed costs. While other works have occasionally considered one of these factors, we show where each feature comes from, and we assess them systematically and together. We provide illustrative evidence of the relevance and generality of the model to understand the fate of a variety of innovations.     

Imitation and the Incentive to Contribute Early in a Sequential Public Good Game

Whether motivated by reciprocity or conformity, imitation is common in public good contexts. We consider the incentive for an agent to contribute to a public good if he expects imitation from others. Using a sequential public good game with exogenous ordering, we show that agents early enough in the sequence who believe imitation to be sufficiently likely would want to contribute. By contributing, they expect total contributions to increase significantly. We also show that preferences determine how early an agent need be, that the observed share of imitators in experiments is sufficiently high to warrant contribution and that an increase in group size reduces the incentive to contribute.     

我国区域经济波动对货币政策效力影响的实证分析

本文研究表明,北部、东部和南部等经济较发达地区与总量经济发展能够保持较高同步性,西北等经济欠发达地区则呈现较强的独立性特征;经济较发达地区与总量经济的关系呈现出在扩张期同步性较强、在紧缩期同步性较差的特点,紧缩期对经济欠发达地区影响更为显著;货币政策在不同地区效力不同,东部地区对利率政策具有较高的敏感性,资金推动仍是全国大部分地区经济发展的主要动力。     

New evidence on the output-inflation trade-off from developing economies: the case of the CFA Franc zone

This aim of this paper is to give a contribution to the debate on whether output-inflation trade-offs are negatively influenced by the mean of inflation (as postulated by new-Keynesians) or by the variability of inflation (as postulated by neo-classical economists). To remove any concerns about the arbitrariness of the choice of the sample, the analysis will focus on a group of countries belonging to the same currency union, the Franc Zone. The results do not provide conclusive evidence on either theory as it was found that there existed a negative relation between the output-inflation trade-offs and the mean of inflation on the one hand, and the variability of inflation, on the other.     

为宏观调控正名

宏观调控是现代市场经济中一个具有特定内涵的经济范畴,而不是泛指政府对涉及全局经济问题的干预。由于市场经济体制的不完善,我国在进行宏观调控时还不得不暂时采取某些计划体制下的政策和手段,但是,要认清这些非市场运作的局限性和过渡性,更不能因此而修改宏观调控概念,如把宏观调控等同于政府干预,认为宏观调控应包括结构调整,应包括对企业或行业的“有保有压”等。     

Historical models and economic syllogisms

This paper proposes a classification of economic models into three types: historical, axiomatic and conditional. Historical or empirical models utilize the historical-deductive method, and are generalizations from the economic regularities and tendencies that we find in the real world. Axiomatic models utilize the hypothetical-deductive method; they are syllogisms whose major premise is an axiom – a self-evident truth; they are appropriate for methodological sciences such as mathematics and econometrics. Conditional economic models are likewise syllogisms, but they are suitable for economics because they make for clearer and more precise economic reasoning. The criterion of truth of the substantive sciences is the conformity with reality, of the methodological science, its internal consistency. When a school of economic thought adopts mainly axiomatic models, as is the case with neoclassical economics, it implicitly falls into contradiction because their best representatives believe in the conformity with reality criterion.     

Indeterminacy of intertemporal equilibria under imperfect competition

Summary. It is known that overlapping generations models with imperfectly competitive firms may exhibit a continuum of stationary equilibria. The reason of this indeterminacy is that different price expectation functions of consumers lead to different objective demand functions against which firms maximize. All these expectation functions fulfill perfect foresight in the equilibrium, but they can be arbitrary off the equilibrium. In this paper it is shown that it is not this arbitrariness which is responsible for the indeterminacy, but that the continuum of stationary equilibria emerges even if expectation functions are rational. Received: March 25, 1999; revised version: February 16, 2000     

泛珠三角框架下红色旅游开发的区域合作分析

本文从红色旅游整体发展的需要和促进泛珠三角区域合作发展的需要两方面分析了泛珠三角红色旅游开发的区域合作意义与机遇，提出开展泛珠旅游合作，红色旅游先行。泛珠三角区域的红色旅游资源具有区位接近性、资源组合合理性、经济互补性及客源充足性等区域合作开发条件，本文结合目前红色旅游合作开发现状，探讨了泛珠三角区域纵向深度结合、横向广度组合、综合适度整合的红色旅游合作开发方向，并有针对性地提出了红色旅游开发的区域合作策略。     

会计标准的国内协调——以所得税会计处理方法为例

公司是否采用纳税影响会计法,调节所得税费用和净利润的动机影响很小。职员素质越高,公司越可能采用纳税影响会计法。此外,国有控股公司相对非国有控股公司更愿意选择纳税影响会计法。因此,《企业会计准则第18号--所得税》在非国有控股公司中执行的困难可能比较大,其得以实施的一个关键在于公司职员,尤其是财务人员素质提升的跟进。     

中国多产品出口企业竞争策略识别研究

基于企业内产品间出口价格和出口金额之间的关系识别多产品出口企业竞争策略。结果发现,质量竞争策略和成本竞争策略均存在于我国多产品出口企业中,但是采取质量竞争策略的多产品出口企业在企业数量和企业绩效上都明显优于采取成本竞争策略的企业。行业层面识别结果表明,近60%的行业显著采取质量竞争策略,只有7.33%的行业显著采取成本竞争策略;结合行业属性发现,产业链上游行业、质量差异化程度低的行业倾向于采取成本竞争策略,产业链中下游行业、质量差异化程度高的行业倾向于采取质量竞争策略。