Regime switching as a test for exchange rate bubbles

This paper develops a new test for speculative bubbles, which is applied to data for the Japanese yen, the German mark and the Canadian dollar exchange rates from 1977 to 1991. The test assumes that bubbles display a particular kind of regime-switching behaviour, which is shown to imply coefficient restrictions on a simple switching-regression model of exchange rate innovations. Test results are sensitive to the specification of exchange rate fundamentals and other factors. Evidence most consistent with the bubble hypothesis is found using an overshooting model of the Canadian dollar and a PPP model of the Japanese yen.     

Knowledge maturity as a means to support decision making during product‐service systems development projects in the aerospace sector

Streamlining new product development forces companies to make decisions on preliminary information. This article considers this challenge within the context of project management in the aerospace sector and, in particular, for the development of product‐service systems. The concept of knowledge maturity is explored as a means to provide practical decision support, which increases decision makers' awareness of the knowledge base and supports cross‐boundary discussions on the perceived maturity of available knowledge, thereby identifying and mitigating limitations. Requirements are elicited from previous research on knowledge maturity in the aerospace industry, and a knowledge maturity model is developed through five industry‐based workshops.     

Different approaches to measure ego-centered social support networks: a meta-analysis

Survey indicators of social networks usually measure a certain function of social networks, for example exchange of social support. Social support is a multidimensional construct. The most comprehensive definition distinguishes among sources of social support (social support networks), supportive acts and appraisal of given support. Generally, two main hypotheses can be given with regard to the role social support plays in quality of life of individuals: that social support is beneficial as such (main effects), or that social support is beneficial at occasions of stressful events (buffer effect). In this paper we are dealing with survey measurement of ego-centered social support networks. Three methods to social network measurement are compared: the name generator method, the role generator method and the event-related approach. In a meta-analysis of several studies done on convenient quota samples the effects of method, type of calculation, response format and limitation of support providers on network composition indicators are studied.     

Public support to innovation and imitation in a non-scale growth model

This paper studies technology policy within a version of Jones's [1995. R&D-based models of economic growth. Journal of Political Economy 103, 759–784] non-scale R&D-based growth framework that incorporates imitation of foreign techniques. In the model, imitation is the most important source of productivity growth at the beginning of the convergence process, whereas innovation dominates later on. In addition, the transitional dynamics of the model can account for well-known empirical regularities regarding the relationship between the level of economic development and public support to technology innovation and imitation. The paper shows as well that, even though policy in Jones-type non-scale models has no long-run growth effects, level effects can be substantial.     

架起文化交流的桥梁

“古人音书,但日读若某,读与某同。然或无同音之字,则其法穷;或虽有同音之字,而隐僻难识者。则其法又穷。”——《切韵考·通论》陈澧     

International foreign exchange agreements and nominal exchange rate volatility: a GARCH application

For eight major national currencies, this study estimates, and tests several hypotheses with, a t-distribution GARCH model of daily spot nominal exchange rate changes. The sample period covered is June 1, 1982 through September 30, 1992. By using likelihood ratio and parameter stability tests, it finds that for most of the currencies considered, both the conditional means and variances of unexpected exchange rate changes experienced statistically significant structural breaks across the five subperiods that are associated with four episodes of international foreign-exchange policy coordination. The study also finds that the orderings of the GARCH-estimated unconditional standard deviations roughly match the orderings of the sample standard deviations across the five subperiods. An explanation is provided for what underlying factors contributed to these structural shifts.     

Perceived organizational support and organizational identification: joint moderating effects of employee exchange ideology and employee investment

Organizational identification (OID) can be developed out of social exchange practices within an organizational setting. Drawing on social exchange theory, we propose that the effect of perceived organizational support (POS) on OID is stronger for employees with stronger exchange ideology. We further argue that employee investment in an organization may also create a social exchange process that positively influences OID. We expect that employee investment moderates not only the effect of POS on OID, but also the enhancing effect of exchange ideology on the effect of POS on OID. Specifically, POS has a stronger positive effect on OID when exchange ideology is high and employee investment is low. When employee investment is high, POS has a weaker effect on OID regardless of employees' exchange ideology. These effects were empirically supported by a survey. Theoretical and practical implications are also discussed.     

Organizing work to support relational co-ordination

Service operations that are highly uncertain, interdependent and time constrained require a competency that I call relational co-ordination – co-ordination that is carried out by front-line workers with an awareness of their relationship to the overall work process and to other participants in that process. Relational co-ordination is characterized by frequent, timely, problem solving communication, and by helping, shared goals, shared knowledge and mutual respect. Previous work reports significant positive effects of relational co-ordination on performance in such settings. This paper addresses how organizations achieve, or fail to achieve, high levels of relational coordination. I find significant correlations between relational co-ordination and the use of cross-functional liaisons, IT, supervisors, cross-functional performance measurement, employee selection, conflict resolution and flexible work roles. I explore the implications for team effectiveness and organization design, and for the theory of organizational social capital.     

Preparing for distant collaboration: Antecedents to potential absorptive capacity in cross-industry innovation

Cross-industry innovation entails distinctive innovation opportunities and challenges according to the knowledge heterogeneity between the collaborating firms. This heterogeneity yields increases in organizational-level cognitive distance. Whereas recent theory suggests cognitive distance is positively related to exploratory innovation, too much distance can hinder efficient knowledge absorption and results in a reduced effect on novelty value. This paper focuses on the research question of how to build potential absorptive capacity for distant collaboration beyond established industry boundaries to gain radical rather than incremental results. To address this question, we mapped a cross-industry network using survey data on 215 bilateral cross-industry collaborations between firms from a variety of industries and captured cognitive proximity (the inverse of distance) in terms of overall knowledge redundancy between firms. This approach introduces a new method to infer organizational-level cognitive distance from network analysis. Subsequently, based on results from the network analysis, we examined coordination antecedents to potential absorptive capacity for cross-industry innovation with partners at moderate and high distance applying case study analysis. Our study revealed three alternative approaches to coordination antecedents that drive a firm?s potential absorptive capacity for distant collaboration. These findings extend research on absorptive capacity to the field of cross-industry innovation.     

企业防范汇率风险对策

随着社会主义市场经济体制的建立,企业经营自主权的扩大,企业所面临的各种风险相应增大。特别是国家对企业的外贸经营权的放开,对于外向型企业来说,有一个汇率风险问题。近年来国内外外汇市场波动剧烈,为了避免遭受不必要的损失,企业应采取积极的防范措施。本文旨在对影响汇率波动的主要因素、汇率风险在我国对外经贸活动中的表现及防范汇率风险的方法等问题,作一番简明的分析和总结。     

重视交易安全 慎用合同形式

速度、效益与安全是衡量企业经营管理水平的三项重要指标,其中安全性是企业运营的基本出发点,决定着企业发展的速度与效益,而企业的合同行为是企业安全的一个重要方面。企业在签订合同时不应仅着眼于经济目标,要时刻注意合同行为的安全性。大量事实表明,许多企业因为对合同订立环节缺少安全意识,而给企业带来了麻烦,甚至是经营危机。可以说,草率的合同行为已成为目前企业经营风险中的重要变量。合同行为的安全性很大程度上取决于合同的订立形式。企业在订立合同时应根据合同的不同性质选择适当的合同形式,以维护交易行为的安全。2005年12月2…     

Coworker support as a double-edged sword: a moderated mediation model of job crafting,work engagement,and job performance

Abstract

This research aims to test the mediating effect of work engagement on the relationship between job crafting and job performance, as well as the moderating effects of two forms of coworker support on the job crafting–work engagement relationship. We collected survey-based data from two South Korean samples. Study 1 was conducted on 175 flight attendants. The results of Study 1 were then replicated in Study 2 wherein 181 hotel employees reported their own job crafting and work engagement, and their supervisors rated their job performance one month later. In both studies, work engagement fully mediated the relationship between job crafting and job performance. The positive association between job crafting and work engagement was more pronounced when coworker emotional support was high than when it was low. In contrast, the positive link between job crafting and work engagement was stronger when coworker instrumental support was low than when it was high. Coworker emotional and instrumental support further moderated the indirect effect of job crafting on job performance through work engagement.     

搭建公共信息平台支撑枢纽物流和物流枢纽

我参加了三次中国物流发展东湖论坛。在首届论坛上,我的演讲是货通天下创伟业。我觉得从经济学的角度来观察,世界上的产业,只有两个产业是没有规模极限的。一个产业是互联网,一个产业是物流。从经济学角度看,物流产业确实会成为一个巨大的朝阳产业,未来有很大的发展前景。沃尔玛现代物流商贸业曾经是多年来世界的第一     

Money-mediated disequilibrium processes in a pure exchange economy

Studied here are dynamical processes of money-mediated exchange and price adjustment in a pure exchange economy of durables. The processes take place in continuous time and are specified by fields of cones which define admissible trajectories in price-allocation or allocation space. Under strong classical assumptions on preferences and fairly mild behavioral assumptions, stability theorems are proved, showing that our processes converge to price equilibria.     

Ontology-based approaches for cross-enterprise collaboration: a literature review on semantic business process management

Based on an in-depth analysis of the existing approaches in applying semantic technologies to business process management (BPM) research in the perspective of cross-enterprise collaboration or so-called business-to-business integration, we analyse, discuss and compare methodologies, applications and best practices of the surveyed approaches with the proposed criteria. This article identifies various relevant research directions in semantic BPM (SBPM). Founded on the result of our investigation, we summarise the state of art of SBPM. We also address areas and directions for further research activities.     

Spot and forward exchange rates as predictors of future spot rates: trends in exchange market value and the contribution of new information

This study investigates whether or not new information affects the predictive capability of forward and spot foreign exchange rates symmetrically during periods of rising as opposed to falling currency values. Statistically significant different intercept and slope coefficients are found between the periods of U.S. dollar appreciation and U.S. dollar depreciation. Further, the predictive ability of the two models differs between opposite trends in foreign exchange values.