Employment Systems in Japan's Financial Industry: Globalization,Growing Divergence and Institutional Change

This article examines growing divergence and change in the employment systems of Japan's financial industry from the early 1990s until shortly after the so‐called Lehman Shock. This was a period which saw accelerated deregulation and globalization strongly impact the country's financial markets, leading to intensified competition over human resources. Foreign multinational corporations introduced into Japan's local product and labour markets new global ‘rules of the game’; in response, some native firms were forced to alter core aspects of a traditional employment model. The result was the emergence of diverging patterns of employment. The present study will demonstrate that the interaction of two key factors — national ownership and variation among core products and services offered — is shaping employment diversification, mediated by firms’ individual policies and practices. This research contributes to the debate on the effects of globalization on the divergence and change of employment systems.     

Alfred E. Kahn: Regulator and Language Maven

Alfred Kahn’s enduring legacy will be his influence on how economists think about the regulation of natural monopoly. But although the substance of his ideas mattered far more than their style, his influence would not have been nearly as great had it not been for his almost slavish devotion to clear language. His career supports the proposition that most of the heavy lifting in economics relies on just a few basic principles that can be stated in plain English. In this essay, I describe how Kahn’s mastery of those principles made him such an effective regulator, but I also note that events since the 1978 deregulation of the airline industry suggest that he and others at the Civil Aeronautics Board failed to appreciate the extent of unexploited economies of scale in the industry.     

Electricity: Changes and Issues

This paper surveys recent developments in therestructuring and deregulation of the electric utilityindustry. New federal and state legislation isreviewed together with commission actions designed to carry out restructuring. The Department of Energy's highly controversial attempt to measure the netbenefits of electricity deregulation is noted, alongwith the response of DOE's critics. Five major factorsthat will affect the success or failure ofrestructuring and deregulation are examined at length. These include: growing industry concentration, theincreased risk premium attached to the market trading of electricity, the transition costs that will beincurred, the organization and governance of thetransmission network, and the adequacy of consumer and environmental protection in the new setting.     

Variance-enhancing corporate entrepreneurship under deregulation: An option portfolio approach

The current study draws upon the real option portfolio theory to examine the relationship between deregulation and corporate entrepreneurship. We propose that a firm could respond to deregulation with variance-enhancing corporate entrepreneurial activities (CEAs), which increase the portfolio value of real options to exploit the upside opportunities and constrain the downside loss. We develop two dimensions of CEAs—frequency and diversity—to capture the value of the option portfolio, and we propose that these two dimensions contribute to a company’s long-term equity return and innovation performance. We test these arguments with 526 Chinese listed firms in five innovative industries from 2001 to 2005, and we find significant support for our hypotheses. Our empirical findings and the option portfolio approach carry important implications for entrepreneurship theory and policy. The CEA portfolio could be a useful tool to configure and allocate strategic investments proactively.     

Lessons from the deregulation transition in Chile's local telephony market

There is no experience in the world where entry to local telephony has been as significant as in Chile. This paper addresses two related questions: (i) whether the local telephony segment in Chile is competitive enough so as to deregulate rates and (ii) whether competition thus far achieved could be at risk in the case where asymmetric regulation is ended. The paper suggests that the market is competitive enough, that the regulation mechanism is extremely costly, and that subsidizing entry in order to have infrastructure competition is not necessary. It concludes that deregulation of consumer's rates would be in their own consumers’ interest.     

分类适度管制：放松管制背景下的我国政府管制结构重构

伴随着西方放松管制改革的浪潮,国内学术界也开始呼吁放松管制,但目前我国的政府管制面对的主要是行政垄断问题以及管制结构的不合理。因此,我国政府管制改革,不是“放松管制”的问题,而是管制结构重构的问题：一方面要消灭原来计划体制的管理体制、管理办法和管理方式,消除行政垄断,另一方面要转变管制重点实行分类管制,即根据垄断性产业的业务进行划分实施放松管制的政策;根据不同产业以及同一产业不同时期实施放松管制政策。     

How does institutional change affect heterogeneity among firms?

This paper examines the variation in performance of incumbents and entrants following the deregulation of prices and entry in the airline industry. Our approach is similar to earlier studies of interfirm performance heterogeneity across industries. Drawing on theories of industry evolution, we hypothesize that the performance of entrants will have higher variance than incumbents. Further, given the opportunities offered by price deregulation, we propose that incumbents will have higher variance in performance under deregulation than in the earlier regime. The findings indicate that entrant performance heterogeneity is significantly greater than incumbent performance heterogeneity following deregulation, but that the variation in performance among incumbents does not significantly change when deregulation occurs. The second result is surprising given the range of service and process innovations that incumbents initiated. These results suggest that the distinction between entrants and incumbents is critical to future studies of performance variation within and across industries. Copyright © 2002 John Wiley & Sons, Ltd.     

Cost reductions or reputation enhancement as motives for mergers: The logic of multihospital systems

This paper examines two motives for the formation of local multihospital systems: cost reduction and reputation enhancement. Systems may reduce costs by eliminating redundancies and reducing administrative costs. Integration may also lower costs for consumers seeking consistently high qualiiy. We hypothesize that if systems achieve either cost or reputation benefits, then member hospitals will ‘look’ different from random collections of hospitals. We find that local systems do not appear to have lower costs but do appear to enjoy reputation benefits over nonsystem hospitals. Our findings challenge the assumptions behind popular health reform initiatives.     

会计评估与税务策划在境外EPC项目中的应用

为控制国际工程总承包（EPC）项目的风险,根据国内、国外的法规制度差异,企业应在项目的会计核算体系、成本控制、税务策划方面,在项目的不同阶段采取有效的措施,以顺利实现效益目标。在市场开拓阶段,应根据目标市场的政治、法律、经济环境,规划未来境外可能的项目实体的运行方式;在投标报价阶段,策划合同方案和税务方案;在项目实施阶段,确定会计核算体系和方法。对于成本控制,应根据项目全面造价管理的数据,制定全面成本管理预算并实施项目预算控制;分阶段、按实施内容对成本控制计划的执行情况进行分析、评估和考核;建立成本管理平台,抓住项目实施全过程的成本控制关键点,动态控制成本费用;分析和控制财务风险,避免不确定成本的支出。在项目涉税事项上,应遵循＂依据法规制度,做好事先规划,合理规避税务风险＂的原则,着重考虑纳税主体与方式、合同、采购方案、工程分包方案、会计核算方法、收入与成本确认时间与依据等,进行税务策划。     

关于进一步推动我国LNG船舶建造工作的思考

“十二五”期间,我国LNG市场将快速扩大,加之一批国际LNG项目将在2015-2017年相继投产,国内、国际LNG运输需求将同步增长,对远洋船舶、内河中小型运输船、浮式LNG接收终端的需求将集中释放.但目前我国LNG船舶工业面临产能有待提高、LNG船舶品种单一、相关法规和标准体系建设滞后、国产化程度低、船级社水平有待提高等挑战.在当前我国LNG造船工业处于起步阶段的情况下,建议政府加大扶持力度;加快相应法规标准的制订;通过招投标择优产生新船厂,提高现有船厂产能;加强对外合作,提高船级社技术水平;造船企业应积极开拓国内国际两个LNG船舶市场,从而快速提升我国LNG船舶的建造能力,使我国造船工业再上一个新台阶.     

Regulatory inhibitions on the development of electronic message systems in the USA

The present regulatory environment for electronic message systems in the USA is characterized by complex overlapping and blurring of jurisdictions. The author makes an argument for general deregulation of the market for EMS to allow for more competition and investment, and that, where regulation is required, the FCC be the sole regulatory agency.     

Market dominance under U.S. antitrust

Much has transpired since Walter Adams and Horace Gray warned in 1955 about the dangers of state creation of monopoly. The dangers remain the same. But mainstream researchers have led the efforts for deregulation in railroads, airlines, gas and electric utilities, stock markets, banking, and other markets. Chicago-UCLA doctrines have played a part in the 1980s, but they have often run to excess, in advocating deregulation at any cost. One result of that approach has been the savings and loan scandal of the 1980s, where a wholesale removal of all restraints led to unforeseen economic damage.Also among the mainstream instruments, Section 2 has been applied to reduce market dominance in a number of important industries. Section 2 will continue to be only one tool for reducing market power, but it can be important. A renunciation of such an effective instrument is unwise. By helping to lead the mainstream critique of monopoly, Walter Adams has added to important policy actions. The policy-oriented tradition in the profession has been enriched by his skill and erudition.     

Telecommunications services in France: The regulated monopoly and the challenge of competition

Classical microeconomic modelling cannot alone explain the present trend of telecommunications deregulation. Based upon an examination of the French situation, the author argues that the current phenomenon should be viewed more as a game between three main players whose behaviour can be analysed using principles of industrial organization. The traditional telecommunications monopoly is bound to react defensively in response to increasingly powerful demand, stimulated by technical innovations, while at the same time the public policy maker searches for modern regulatory principles. Demand, as represented by large corporate customers, will probably trigger the next step in the game between the three players.     

中国产业生态化水平的静态与动态分析——基于省际数据的实证研究

本文通过构建产业生态化水平评价指标体系,运用多种分析方法,对我国各省(直辖市、自治区)的产业生态化水平进行了静态分析与动态分析,并探讨了各地区产业生态化水平的特点、形成原因及其影响。结果表明,我国各省(直辖市、自治区)的产业生态化水平可以划分成领先区、发达区、中等区和落后区这样四大类型,进入本世纪以来四大类区域的产业生态化水平均在逐年提高,但区域之间呈现出差距不断拉大的趋势,其原因主要是发展思路与相关制度不完善、区域间经济与技术基础存在差异、产业生态化实施内容和路径上的差异、区域产业结构和产业转移造成的差异等,区域产业生态化水平差异将对我国区域经济社会发展产生严重影响。上述研究结论可为我国实施产业生态化发展提供理论依据和实证支持。     

Competition in Korean mobile telecommunications market: business strategy and regulatory environment

After the launch of PCS in 1997, the Korean mobile telephony market achieved a remarkable subscriber base growth. The market is composed of a differentiation advantage seeker, SK Telecom; a cost advantage seeker, LG Telecom; and three other carriers: Hansol PCS, Korea Telecom Freetel, and Shunsegi Telecom that do not show clear adherence to any type of advantage. Despite large growth in subscribers, price competition has not occurred after the competition except in handset subsidies. New restrictions on handset subsidies, closing the only door for price competition, favored a differentiation seeker at the expense of a cost advantage seeker. The Ministry of Information and Communication’s provisional plan for quality evaluation without price deregulation runs the risk of quality over-provision that is sub-optimal, and may further distort the business performance of carriers. Overall complete deregulation is necessary, in order to enhance the competitiveness of the Korean mobile telephony industry and to increase consumer welfare.     

富士康 工资涨一倍，钱从何来？

想想看,富士康的员工人数超过一百万,果真一口气要将员工的底薪增加一倍,最终达到4400元,需要增加多少钱呢？而这些钱又从哪里来呢？     

Environmental variation,strategic change and firm performance: A study of railroad deregulation

Concepts from the literature on the relationship between environmental variation and strategic change are used to analyze the effects of deregulation on strategic management in the railroad industry. Specific hypotheses are presented about the impact of regulation and change in regulation on strategy, strategic change and performance. A survey of experts identified the strategies of 27 railroads prior to and after deregulation. Five different railroad strategies and five different kinds of strategic changes are identified and described. Results suggest that most firms changed their strategies in response to environmental variation, and that those that did change their strategics out-performed those that did not. Among the strategic changes, those involving innovation and contingency strategies were found to be the most profitable. Other empirical results are presented and discussed.     

Der EU Richtlinienvorschlag für erneuerbare Energien — Eine Analyse der Transferrestriktionen von Herkunftsnachweisen

Until now the promotion of renewable energies in Europe has been effected on the basis of different promotion systems of the Member States. Currently the EU-wide harmonisation of the promotion systems, from which yields of efficiency and a higher effectiveness are expected, cannot be enforced due to a discordance concerning the “right” promotion instrument.With the proposal for a directive on the promotion of renewable energies, published at the 23. January in 2008, the European Commission attempts to make a first move towards harmonisation. Besides existing promotion systems it will be possible to transfer Guarantees of Origin for renewable energies between Member States. Since, however, some Member States expect negative effects as a consequence of opening their markets the proposal comprises opportunities to restrict the transfer. The present scope of interpretation within the proposal allows for different options concerning the design of the transfer restrictions. These will be identified, analysed, and subsequently evaluated in this article. Despite of both extreme options, the possibility to entirely opt out of the transfer system and the obligation to completely participate in the transfer system, two further hybrid options are discussed. The latter are characterised by the possibility of Member States to restrict the transfer of Guarantees of Origin to a certain extent through a “system of prior authorisation”.     

Interpreting and responding to strategic issues: The impact of national culture

Perceptions of environmental uncertainty and organizational control influence strategic behavior. As national culture influences these perceptions we expect to find cultural differences in interpretation and response to strategic issues. Given a case describing an issue concerning deregulation of the U.S. banking industry, managers completed questionnaires rating interpretations and responses to that issue. National culture was found to influence interpretation and responses. In particular, Latin European managers when compared with other managers were more likely to interpret the issue as a crisis and as a threat. Latin Europeans were also more likely to recommend proactive behavior. This study indicates that different cultures are likely to interpret and respond to the same strategic issue in different ways. These differences may help to explain and predict different responses of European countries to ‘1992’.     

Can a margin squeeze indicate the need for deregulation? The case of fixed network voice telephony markets

In the beginning of fixed network liberalisation in Europe in the late 1990s, the main concern of regulators was to lower retail call prices. This was done by introducing wholesale regulation and promoting service-based competition. Some years later, the concern of some regulators turned from too high retail call prices to too low call prices, which might ‘squeeze’ entrants out of the market. This paper looks at a simple model in which this development is explained by increasing competitive pressure from an ‘outside opportunity’, most notably mobile telephony and cable. It is concluded that a margin squeeze is not necessarily used by the incumbent as a device to drive competitors out of the market and to increase market power but can also result from increased inter-modal competition. If this is the case, it is argued that the appropriate response would be deregulation or – under particular circumstances – a switch from cost-oriented access prices to alternatives such as retail-minus or capacity-based interconnection.