Identifying the strategic market

When are markets truly global? Will Europe be a single market after 1992, and how will we know? When are niche strategies sustainable? In this article, John Kay develops answers to these questions by developing the concept of the strategic market–the minimum area, product or geographical, within which it is possible to compete. He identifies the common strategic error involved in confusing the dimensions of the market with those of the industry, and warns that economic integration is not at all the same as the creation of a single market.     

与市场共舞--东风汽车公司抓产品拓市场见闻

市场如海,产品如舟,企业经营管理者就象航海的舵手.东风汽车公司在经历了七、八年的坎坷曲折之后,而今正全速驶入良性经营的发展轨道.     

Institutional quality and market selection in the transition to market economy

This paper investigates the impact of institutional quality on the productivity, profitability and survival of new entrants versus those of incumbent firms in a transitional setting, Vietnam. By integrating economic and institutional perspectives, we emphasize the importance of institutional quality in shaping the evolution of industry dynamics. We find that poor institutional quality that acts as institutional buffering for incumbents jeopardizes the Schumpeterian market selection process. In particular, despite being more productive and profitable, new entrants are still more likely to exit than incumbents on average. As a consequence, facing poor institutions, only new entrants with sufficiently high productivity and profitability are able to survive. However, improving institutional quality does not enhance new entrants' survival and entrepreneurial performance; rather, it removes the survival advantage of incumbents and thus reduces the differences in performance and exit hazard between new entrants and incumbents. We investigate this seemingly paradoxical relationship using Vietnamese census data from 2006 to 2013.     

车市波动分析法预测未来车市走势

从1993—2003年，笔者业余跟踪观察并研究中国汽车市场波动式发展规律，提出应用“新的车市研究方法体系——车市波动分析法”，来预测车市未来走势。车市波动分析法是以分析研究车市波动规律为主要内容，以科学发展观为指导，以若干统计数字为基础，紧密联系国家宏观经济发展趋势，根据市场经济运行规律，来分析我国汽车市场实际运行情况。它以独创的新概念“一个系数、两种效应”为“工具”，采用归纳法和演绎法相结合，由“特殊——一般——特殊”的程序解剖车市的运行规律。     

做终端之市场 破淡市之低迷

<正> 在目前国内啤酒市场大打"价格战"、众多啤酒生产企业效益普遍下滑的形势下,啤酒行业中素有"南有珠江"美誉、去年人均创利税居全国同行首位的广州市珠江啤酒集团,今年以来啤酒产销量和经济效益继续稳定增长。今年5月,我集团的啤酒月产量突破8万吨,1～5月实现利税3.6亿元,实现利润1.3亿元,同比增长13%。我集团之所以能逆"潮流"而动,做到在淡市中雄起,产销量节节攀升,经济效益持续增长,是因为我们始终认为,只有饱和的思想,没有饱和的市场;面对激烈的市场竞争,只要通过革新,增强企业的核心竞争力,那么就能     

Competition in the LM market

This paper considers the competition in the LM (land-to-mobile) market mainly by focusing on how access charges are determined in a competitive environment. Contrary to the widely held belief, the main beneficiary to introducing competition into the LM market (except consumers) is the mobile network operator if LM services are homogeneous. This is due to its ability to charge differentiated access fees to each of the LM service providers thereby inducing them to compete for LM retail prices. Also, competition in the LM market raises social welfare by eliminating double marginalization. Thus, the regulation imposing uniform access charges is socially undesirable in the sense that it hinders LM service providers from effectively competing for retail prices.     

Outlook for the grain market

With all the indications suggesting that the current imbalance between supply of and demand for grain will continue for the foreseeable future, and with a steady surplus both keeping prices down and forcing on governments measures to reduce output and stocks, attention is turning to South East Asia, a region which, due to the rapid growth of both its population and per capita income, seems to offer the best prospects of medium and long-term increases in demand. How realistic are the hopes that South East Asia will be able to absorb a substantial part of the world's grain surplus?     

Relaxation on the oil market

While the prices of industrial commodities have risen only slowly, oil prices reached their highest level for nine years in early March. Can their more recent decline be expected to continue over the medium term?     

Financial market crisis and financial market channel

Before a new financial architecture can be established in the wake of the financial crisis, the increasing importance of the global financial market channel must be fully understood. This importance was illustrated by the unexpectedly strong dampening effects of the financial crisis on the real economy and by the worldwide contagion of the crisis, including its spreading to emerging market economies that were macroeconomically stable. This article argues that the financial sphere is gaining in importance over the real sphere and that the impact of global financial determinants on economic activity is growing ever stronger. The keys to dealing with this change are greater transparency, stronger incentive structures and a stronger regulatory and supervisory framework.     

A global market advantage framework: the role of global market knowledge competencies

The globalization forces engender companies to develop a new set of competencies that would enable the generation of abnormal returns in the global marketplace. This article reviews the extant literature regarding the effect of globalization on organizations and develops a conceptual framework that underlines the importance of knowledge management competencies in creating global market advantage. The knowledge management competencies consist of global customer, competitor and supplier knowledge development, inter-functional coordination and value chain coordination. The relationship between global market knowledge competencies and global market advantage is partially mediated by company's responsiveness. Global market advantage is positively associated with company's strategic and financial performance.     

Toward a greater understanding of the market orientation and internal market orientation relationship

The study explores the relationship between market orientation (MO) and internal market orientation (IMO) using the process model of MO development. Data from 370 nonprofit organizations were analyzed using structural equation modeling with maximum likelihood estimation technique. The comprehensive CFA marker method was used to partial out the influence of social desirability bias on the substantive relationships. The study finds that MO works through IMO to elicit desirable employee outcomes, which also contributes to performance outcomes. IMO does not offer direct performance benefits, but it partially mediates the effect of MO on employee-related outcomes. Competing models offering alternative explanations are ruled out empirically by the superior fit of the theoretical model with the data. The study integrates IMO in Kohli and Jaworski’s model of antecedent and consequences of MO and encourages practitioners to embed IMO in their MO development plans.     

欧洲造船业市场近况及对未来市场需求预测

2006年9月中旬,欧洲船厂联合会(CESA)对外公布<2005年欧洲地区造船业年度报告>.报告共分14个部分,对欧洲造船及世界范围的船舶市场、2015领先计划实施进展、欧洲海事科技研发、未来船舶市场需求与能力供给、船舶保养、维修与改装、CESA主要办事机构等予以了全面说明,并在其附录部分给出了2005年有关欧洲各国订单、劳动力等全部统计数据.这里就其2005年欧洲造船市场与未来船舶需求预测作一简要介绍.     

Order imbalances and market efficiency: New evidence from the Chinese stock market

This paper differentiates order imbalances based on trader categories. The daily order imbalances are highly persistent, especially for the number-measured imbalances. That the price pressure caused by imbalances cannot last beyond a trading day indicates that China's stock market is efficient enough to absorb the imbalances. We find that large individuals, small individuals and small institutions act frequently as market makers by submitting non-marketable limit orders, and the market making activities are profitable for small individuals and institutions. The evidence indicates that individuals are noise or liquidity traders, while institutions are more likely to be informed traders.