商品储存中盘点及削价的会计核算方法

为了加强对商品储存的核算与管理,批发企业财会部门必须与有关各部门密切配合,做到库存结构合理、商品保管完好、收发制度严密、定期盘点商品,以达到账实相符,并正确计算和结转商品销售成本,以保证企业利润核算的准确性.     

商品储存中盘点及削价的会计核算方法

为了加强对商品储存的核算与管理,批发企业财会部门必须与有关各部门密切配合,做到库存结构合理、商品保管完好、收发制度严密、定期盘点商品,以达到账实相符,并正确计算和结转商品销售成本,以保证企业利润核算的准确性.     

Switching costs,experience goods and dynamic price competition

I analyze a dynamic duopoly with an infinite horizon where consumers are uncertain about their potential satisfaction from the products and face switching costs. I derive sufficient conditions for the existence of a Markov Perfect Equilibrium(MPE) where switching takes place each period. I show that when switching costs are sufficiently low, the prices in the steady state are lower than what they would have been when they are absent. This result is in contrast to those found in the literature. In the presence of low switching costs competition can be fiercer.     

The impact of advertising on consumer price sensitivity in experience goods markets

In this paper we use Nielsen scanner panel data on four categories of consumer goods to examine how TV advertising and other marketing activities affect the demand curve facing a brand. Advertising can affect consumer demand in many different ways. Becker and Murphy (Quarterly Journal of Economics 108:941–964, 1993) have argued that the “presumptive case” should be that advertising works by raising marginal consumers’ willingness to pay for a brand. This has the effect of flattening the demand curve, thus increasing the equilibrium price elasticity of demand and the lowering the equilibrium price. Thus, “advertising is profitable not because it lowers the elasticity of demand for the advertised good, but because it raises the level of demand.” Our empirical results support this conjecture on how advertising shifts the demand curve for 17 of the 18 brands we examine. There have been many prior studies of how advertising affects two equilibrium quantities: the price elasticity of demand and/or the price level. Our work is differentiated from previous work primarily by our focus on how advertising shifts demand curves as a whole. As Becker and Murphy pointed out, a focus on equilibrium prices or elasticities alone can be quite misleading. Indeed, in many instances, the observation that advertising causes prices to fall and/or demand elasticities to increase, has misled authors into concluding that consumer “price sensitivity” must have increased, meaning the number of consumers’ willing to pay any particular price for a brand was reduced—perhaps because advertising makes consumers more aware of substitutes. But, in fact, a decrease in the equilibrium price is perfectly consistent with a scenario where advertising actually raises each individual consumer’s willingness to pay for a brand. Thus, we argue that to understand how advertising affects consumer price sensitivity one needs to estimate how it shifts the whole distribution of willingness to pay in the population. This means estimating how it shifts the shape of the demand curve as a whole, which in turn means estimating a complete demand system for all brands in a category—as we do here. We estimate demand systems for toothpaste, toothbrushes, detergent and ketchup. Across these categories, we find one important exception to conjecture that advertising should primarily increase the willingness to pay of marginal consumers. The exception is the case of Heinz ketchup. Heinz advertising has a greater positive effect on the WTP of infra-marginal consumers. This is not surprising, because Heinz advertising focuses on differentiating the brand on the “thickness” dimension. This is a horizontal dimension that may be highly valued by some consumers and not others. The consumers who most value this dimension have the highest WTP for Heinz, and, by focusing on this dimension; Heinz advertising raises the WTP of these infra-marginal consumers further. In such a case, advertising is profitable because it reduces the market share loss that the brand would suffer from any given price increase. In contrast, in the other categories we examine, advertising tends to focus more on vertical attributes.

对价值和价格关系的解读

在资产评估中经常接触价值和价格两个概念,笔者结合工作实际和所学理论进行阐述两者关系和市场特征.     

The effect of income growth on the mix of purchases between disposable goods and reusable goods

With each passing year consumers find more and more disposable goods for sale in the market place. Even goods that were considered to be reusable goods just a few years back are now disposable goods. As a result the American economy has been labelled a ‘throwaway society’. This paper examines a main underlying cause for this trend by linking growth in consumer income with the purchases of disposable goods. More specifically, the model proposes that as incomes rise, consumers will purchase more of both reusable goods and disposable goods. However, as incomes rise, consumers will naturally substitute purchases away from reusable goods and into disposable goods. The shift towards disposable goods occurs because it becomes too costly for consumers to spend their time repairing and maintaining products. Their time is better spent in more productive endeavours. It is simply cheaper (in terms of opportunity cost of time) to dispose of old products and replace them with new products.     

共享型物品与共享型服务的价格形成机制研究

伴随着共享经济在我国的不断完善与发展,特别是“互联网+”、大数据技术、移动支付等各种高新技术的发展,为百姓的生活带来了极大便利,与此同时,共享型物品与共享型服务作为一个新兴事物也逐渐被大众所接受,现已发展成为当前市场经济中的一股重要力量。从共享型物品与共享型服务的发展展开论述,重点从其价格形成机制及市场配置展开分析,研究出一系列的对策性建议,从而助力共享型物品与共享型服务更好地为社会大众服务。     

Online luxury goods with price discount or onsite luxury goods with luxury services: Role of situation-specific thinking styles and socio-demographics

Today, the luxury goods and service market is growing faster than ever. However, despite its growth, we do not know much about the ways in which consumers choose to shop online or in store when buying luxury goods. We also lack insight into the factors that can affect such luxury consumption decisions. The purpose of this study is to investigate whether consumers prefer to buy luxury goods online at a discounted price or would rather buy luxury goods in store with additional luxury services at a cover price. This study also examines the extent to which such decisions can be driven by their situation-specific thinking styles as well as other socio-demographic variables. The results show that participants adopted a rational thinking style when deciding to buy luxury goods online with price discounts. On the other hand, an experiential thinking style was evoked when participants chose to visit a store offering luxury brands and luxury services. In addition to momentary thinking orientations, gender as well as income were found to be relevant to a consumer's choice in a shopping platform when seeking luxury brands. More details about the study's findings and their implications are discussed below.     

The correlations between price cuts/changes and fee sensitivity on the choice of mobile phone service provider

This study adopts fee thresholds to measure users' fee sensitivity and employs a two-step logit model to predict a phone user's probability of choosing a certain service provider. The results indicate that the choice probability can be overestimated if the reference fee effect is not taken into consideration. Furthermore, the lower calling fee image and perceptions shaped by the telecommunications service provider can increase the probability of it being chosen. Users' benefit (saving money) perceptions also reveal a significant difference. In this regard, price promotion effects may not necessarily be successful for every service provider at the time. Service providers with a larger base of benefit perception users have a relative advantage in price-cutting activities. The characteristics of users in the low-loss perception (insensitive to an expensive fee) group are younger, female, and college-educated. Service providers could focus on this segmented market and implement a non-price strategy in order to attract more users. This study may be useful to mobile phone service providers in terms of price-setting policy and image management.     

我国玉米价格与生猪价格的传导关系研究

现以2015年1月到2020年9月生猪价格和玉米价格的月度数据为研究对象,运用E-G协整检验、格兰杰因果关系检验、脉冲响应、方差分解等方法进行分析。研究结果表明,生猪价格和玉米价格存在长期正相关的均衡关系,生猪价格对玉米价格有明显的拉动作用;短期内,玉米价格和生猪价格的相互影响具有时滞性。长期来看,当生猪价格受到冲击时,对玉米价格的影响作用相对较小;当玉米价格受到冲击时,对生猪价格的影响作用较大。建议保障玉米和生猪的供给,引导供需平衡;完善信息共享机制,及时传递相关信息。     

The valuation of European options when asset returns are autocorrelated

This article derives the closed‐form formula for a European option on an asset with returns following a continuous‐time type of first‐order moving average process, which is called an MA(1)‐type option. The pricing formula of these options is similar to that of Black and Scholes, except for the total volatility input. Specifically, the total volatility input of MA(1)‐type options is the conditional standard deviation of continuous‐compounded returns over the option's remaining life, whereas the total volatility input of Black and Scholes is indeed the diffusion coefficient of a geometric Brownian motion times the square root of an option's time to maturity. Based on the result of numerical analyses, the impact of autocorrelation induced by the MA(1)‐type process is significant to option values even when the autocorrelation between asset returns is weak. © 2006 Wiley Periodicals, Inc. Jrl Fut Mark 26:85–102, 2006     

The effects of competitive context on consumer response to price changes

ABSTRACT

This paper aims to understand how a brand’s price level, relative to its competitors, will affect consumers’ responses to price changes of the brand. The study uses experiments to examine brand choice responses to price increases and decreases across contexts differing in competitor brands and their respective prices. These experiments are conducted with six consumer goods categories. The research identifies three key factors that affect the size of responses to brand price changes – (1) passing a competitor brand’s price, (2) narrowing versus widening the price gaps with competitors, and (3) whether competitors are predominantly higher or lower priced brands.     

Teaching business ethics: are there differences within Europe,and is there a European difference?

Book reviewed in this article:
Zsolnai, La´szlo´ (ed) The European Difference: Business Ethics in the Community of European Management Schools