Impact of Wal-Mart on Market Share in a Rural Grocery Market: An Application of the Markov Chain Model

With Americans spending up to 13% of their income on grocery shopping, smart shopping can help a typical family save. Many scholars have studied the effects on market share and profits from changing market share using the Markov model, and also studied the competitive strategies of grocery retailers under these conditions. While the forecast of the steady state is highly useful, examining the transition periods before the steady state is reached is also useful. In these transition periods, a retailer may opt for a new competitive strategy; therefore, the transition periods may provide greater insight into the dynamics of the competitive response. More attention should be paid to the revenues for groceries in transition periods before a steady state is reached—especially in markets dominated by retail giants, such as Wal-Mart. This study attempts to model that phenomenon and to explore appropriate competitive strategies.     

沃尔玛、家乐福在华市场营销组合比较研究

在综述营销组合及零售营销组合理论的基础上,构建了其分析维度,进而从产品、服务、价格、地点、店面设计、促销、人员、物流配送等方面对沃尔玛和家乐福在华市场的营销组合进行比较研究,同时也对国内零售企业给出相应的几点启示。     

沃尔玛在长三角扩张的时空特征及影响因素分析

伴随着我国零售业外贸经营权的全部放开，沃尔玛等外资零售企业在中国进入了快速扩张时期。本文运用空间统计分析等方法，分析了沃尔玛（购物广场）从2006年至2011年在长三角各城市的扩张时机和区位选择特征，发现长三角各城市在经济发展水平、利用外资规模、市场运营成本和信息化水平等方面的差距，直接导致了沃尔玛每年在各城市新开大型购物广场数量的差异；城市的贸易外向度、外资吸引能力、信息化水平、市场潜力、运营成本和市场竞争状况等，成为影响沃尔玛在长三角扩张的重要驱动因素。     

网络信息技术与零售业市场结构变迁

进入网络信息时代以来,零售服务业的"沃尔玛现象"逐步显现,并以广泛运用信息技术,不断突破规模经济和范围经济的界限,对市场结构产生重大冲击。本文从"沃尔玛现象"入手研究零售业市场结构的变迁,发现信息技术创新对熊彼特的五大创新活动有着强烈的整合作用,对市场结构及消费者福利等方面产生了深远影响,而且新的创新模式已经展开。     

外汇交易市场的汇率协整分析

本文通过单位根检验,确定汇率的价格序列具有一阶差分平稳性,在此基础上对外汇交易市场几种汇率之间的协整关系进行实证分析,研究发现他们存在着长期的稳定关系,这将有助于投资者制定决策并有效地规避风险。     

中国股票与外汇市场相关性分析

根据中国政府在国际金融危机爆发后针对外汇市场所采取的不同政策,本文将汇改后时期分成三个阶段,利用协整检验和因果检验的计量方法,研究国际金融危机爆发后中国股票市场和外汇市场的连带关系。实证结果表明汇率制度改革后中国股市与汇市之间存在长期稳定的协整关系,但股票市场和外汇市场间的引导关系在不同的子样本区间内存在差异。     

Born internationals: Market expansion and business operation mode strategies in the digital media field

This paper examines leading Swedish and Finnish Internet consultancies operating in the digital media service field. These are ‘born international’ firms that internationalise their business at an exceptionally rapid pace. The paper focuses on why and to what extent the market expansion and business operation mode strategies of these companies deviate from the traditional pattern depicted by the Scandinavian process school. The empirical data consisted of interviews with the founder and senior management and secondary data from company and public archives. The research findings show that in fact both the international new venture research and the Scandinavian internationalisation model appear to be valid. The former model was evidenced by the fact that the born internationals indeed deviated from the behaviour of the traditional firms. The latter was exemplified by the fact that the final internationalisation profile, after the withdrawals of firms from unsuccessful markets, was close to what the Scandinavian internationalisation model would call ‘rational’ expansion. Hence, if the investigation period is long enough to account for unsuccessful endeavours and withdrawals, we may then find empirical support for the traditional model as well. To be reliable, the investigation period should cover at least one economic slow down.     

市场邻近性模型:国际零售商海外扩张市场选择的一种理论解释

零售商海外扩张的区域选择问题是零售国际化研究的一个重点。本文在综合了大量的国外相关研究的基础之上 ,通过实证分析 ,构建出国际零售商海外扩张市场选择的一种理论框架 :市场邻近性模型。并由地理、经济、文化这三个基本要素组成的市场邻近三角形扩展成由文化、经济、社会、公共政策以及零售结构组成的市场邻近五角模型 ,为国际零售商海外扩张的市场选择 ,尤其是国际化初期阶段的市场选择提供了理论依据。     

中日韩三国运输业服务贸易国际竞争力之比较研究

随着经济全球化的发展,世界各国之间的贸易联系日趋紧密。作为国际贸易桥梁和纽带的运输业服务贸易在服务贸易中也占据了越来越重要的地位。本文在对中日韩运输业服务贸易进行了简单的介绍后,运用近五年来三国运输业服务贸易额、服务贸易总额等基础数据,通过国际市场占有率、RCA指数、TC指数三个指标进行实证分析,从不同侧面比较了三国运输服务贸易的国际竞争力情况,得出了我国运输业与日韩存在巨大差距的结论。并据此分析了我国运输业存在的问题,提出了提高我国运输业服务贸易国际竞争力的相应策略。     

跨国公司在华市场垄断倾向及其超越路径

随着我国利用外商投资规模不断扩大,跨国公司凭借其规模、技术、营销等方面的竞争优势,实现了对我国市场进入壁垒的突破乃至重建,进而对我国的市场结构产生了不可忽视的影响.文章揭示了跨国公司直接投资进入中国后的市场垄断倾向,阐明了垄断造成的危害,进而提出了解决这一问题的对策.     

基于企业国际经验的国外市场选择和进入模式研究

国际经验对企业选择国外市场进入模式的影响是企业国际化管理研究的重点之一,然而这一问题并没有引起国内理论研究的广泛关注。为了弥补这个缺陷,本文对288家国内上市公司的国际经营数据进行了研究。研究发现,企业国际经验,特别是决策团队的国际经验对国外市场选择和国外市场进入模式存在积极的影响。同时,规模越大、技术含量越高的企业,越倾向于选择资源投入较大的国外市场进入模式。     

温州市民营企业进入国际市场战略及其演进

本文在国际商务相关理论的框架下,借助实证研究方法,就温州市民营企业国际市场进入战略及其演进作了较为深入的探讨。民营企业国际市场进入战略的选择经历了三个不同的阶段,在起源阶段政府的默许和支持起到了关键的作用,发展阶段很大程度上取决于企业对国际市场进入的途径创新,而演进阶段与国际知名企业的结盟有着直接的密切关系。不难看出,在温州市民营企业进入国际市场的战略演进过程中,不仅具有对出口式国际市场进入的偏好,同时具有国际市场进入过程的渐进性特征,这些都是由民营企业所具有的优势和对国际市场的认识过程的渐进性所决定的。     

外国背包旅游市场营销策略:以四川为例

背包旅游已成为旅游市场主流,采用访谈调查和统计分析方法,研究四川背包旅游市场行为特征,针对性地提出了四川背包旅游市场营销策略:四大旅游品牌构筑四川整体文化特色;点线结合空间战略促进背包客空间扩散;整合资源,发挥世界遗产旅游品牌优势;注重目的地背包旅游网络营销;与西部其它背包旅游目的地联合营销。     

Market and Product Diversification: The Evidence From Retailing

This study explored the number of international regions in which retailers operate, the assortment of product categories they offer their customers, and the effects of these market and product category diversification strategies on retail sales volumes. The analysis used sales data about 246 global large-scale retail stores from diverse industries and countries of origin. We found that both strategies have positive effects on retail sales volumes. The two strategies interact such that the positive effect of market expansion on retail sales volumes is larger for retailers who also follow a strategy of greater product category diversity.     

Creating a Market Orientation

A market orientation is a business culture in whichall employees are committed to the continuous creation of superiorvalue for customers. However, businesses report limited successin developing such a culture. One approach to create a marketorientation, the approach taken by most businesses, is the programmaticapproach, an a priori approach in which a business uses educationprograms and organizational changes to attempt to implant thedesired norm of continuously creating superior value for customers.A second approach is the market-back approach, an experientialapproach in which a business continuously learns from its day-to-dayefforts to create and maintain superior value for customers andthereby continuously develops and adapts its customer-value skills,resources, and procedures. Theory suggests that both approachescontribute to increasing a market orientation. It also suggeststhat when the a priori education of the programmatic approachis sharply focused on providing a foundation for the experientiallearning, the combined effect of the two learning strategiesis the largest. The implication is that the two strategies mustbe tailored and managed as a coordinated joint strategy for creatinga market orientation.     

Market discovery and the international expansion of the firm

The objective of this paper is to formulate a theoretical framework for studies of antecedents and consequences of discoveries during international expansion. By introducing market discovery it seems to be possible to offer a richer understanding of the pattern and pace of the international expansion of a firm. Market discovery is the result of both exploration and exploitation activities, but in order to exploit market discovery, a firm must learn to handle the discovered opportunity. A discovery, usually made while a firm is conducting daily activities, occurs in connection with search, planning, routine, and improvisation. The resulting learning can lead to changes in pace, orientation, and extension of the international expansion of the firm.     

Factor Exposures of Foreign Equity Capital in a Domestic Stock Market: Evidence from Korea

In this paper, we examine the factor exposures of foreign equity capital in a domestic stock market in order to understand its risk‐taking behavior and sources of returns in the market. Using data from Korea for the 1999–2013 period, we find that foreigners are strongly exposed to the idiosyncratic volatility (IVOL) factor, which is long on low‐IVOL stocks and short on high‐IVOL stocks. That is, foreign equity capital is typically allocated to low‐IVOL stocks and profits from the return differential between low‐IVOL and high‐IVOL stocks. We also find that foreign equity capital moves in a way that it is loaded more on the IVOL factor when the IVOL factor premium is larger. We discuss the comparative advantage of foreign equity capital in bearing the IVOL factor risk and the role of information asymmetry between locals and foreigners in this risk sharing. We also provide additional empirical results that support our interpretation.     

On the Existence of Linear Equilibria in Models of Market Making

We derive necessary and sufficient conditions for a linear equilibrium in three types of competitive market making models: Kyle type models (when market makers only observe aggregate net order flow), Glosten–Milgrom and Easley–O'Hara type models (when market makers observe and trade one order at a time), and call markets models (individual order models when market makers observe a number of orders before pricing and executing any of them). We study two cases: when privately informed (strategic) traders are symmetrically informed and when they have differential information. We derive necessary and sufficient conditions on the distributions of the random variables for a linear equilibrium. We also explore those features of the equilibrium that depend on linearity as opposed to the particular distributional assumptions and we provide a large number of examples of linear equilibria for each of the models.     

我国电子信息业的国际市场势力:一个实证分析

本文运用Goldberg & Knetter(1999)的剩余需求弹性模型,选取SITC(Rev.3)76222这一典型电子信息产品,对其在美、日、德三国市场上的国际市场势力进行了检验。研究结果表明,受产品需求弹性和竞争对手供给替代弹性较大等因素影响,我国SITC(Rev.3)76222产品的出口企业未能形成价格加成能力,陷入了国际市场势力缺失的困境。基于实证研究结论,本文亦有针对性的提出了增强我国电子信息业国际市场势力的对策建议。     

A Critical Review of Market Entry Selection and Expansion Into Japan's Market

ABSTRACT

This article offers a contribution to the Japan market entry model selection. It critically analyzes the various models such as the eclectic, transaction cost analysis, Uppsala, resource-based, interactive network, and bargaining power models, with examples as they relate to foreign firms that had used some of these models to successfully establish their businesses in Japan, as well as some foreign firms that have failed in the market. Data were gathered from the past academic journals, the Japan External Trade Organization (JETRO), newsmagazines, and other sources. Knowledge of corporate Japan and the society played a major role in gathering data for this study. The aim of this article is not to prescribe or offer a solution for the best-available model to use in the market entry into Japan but rather to act as a trigger for a critical checkup on foreign firms planning to internationalize their business and enter the Japanese market. Since there has not been a specific model designed for a Confucian society like Japan, an integrated model combining all the models together was examined using the market entry in Japan of Vodafone, Yahoo, Pfizer, GlaxoSmithKline, and Bayer Yakuhin as examples. Finally, the article offers some suggestions on how to enter and expand business in the Japanese market.