Towards a Single European Market? The Evolution of the Leasing Industry

It is argued that completion of the internal market for leasing requires sufficient openness of national markets for competition between rules to take place. This study of the leasing industry in the European Economic Area analyses those aspects of the European Commission’s Single Market Programme which are intended to achieve this aim and pinpoints tax harmonisation, banking regulation and mutual recognition of accounting standards as the main areas of Commission regulatory activity which will impact on the evolution of rules for the industry. The paper looks at the structure of the national industries and highlights the constraints and driving forces within the various rule systems which will influence the process of change. It is concluded that relatively high levels of competition between rules are actually occurring. In the long term, national markets will continue to be segmented and it is questionable whether a European leasing industry will actually emerge     

Expansion within the Single European Market:a motivational structure

This paper considers the motivational context in which internationalization occurs. The paper considers the recent research of Pellegrini (1994) and Williams (1992a, 1992b) and addresses the fundamental question concerning the nature of internationalization raised by Brown and Burt (1992). The paper reports on, and uses findings from, a survey carried out in July 1993 which focused on retail expansion within the Single European market (SEM). The relative importance of motivations is considered in the context of retailers' attitudes to the SEM. These results are placed in the context of previous research findings and the theoretical literature on international retailing. On the basis of UK retailers' attitudes to expansion in the SEM and in the light of previous research work, this paper discusses the positions adopted by retailers in relation to internationalization. A matrix representing these positions is proposed and discussed.     

European Integration and Market Structure in the Soft Drinks Industry

The focus of this paper is the impact of European integration in the soft drinks industry. It is shown that the geographic level at which competition takes place has moved from the national to the European stage. We apply the new theory of industrial structure where the essential notion is that in endogenous sunk cost industries such as soft drinks, the traditional inverse structure-size relation may break down, due to the escalation of overhead fixed expenditures. The evidence is consistent with the theory. Moreover, it is shown how the persistence of a first mover advantage may affect market concentration. Finally, and in response to exogenous structural change, significant restructuring and increased multinationality has been observed among the leading manufacturers.     

加快建立社会主义市场经济新秩序

市场经济秩序混乱的深层次动因是市场缺陷和市场失灵,主要表现为信息不对称、不均衡、不完全性失灵,外部性失灵,公共性失灵,垄断性失灵,社会分配不均衡性失灵和经济波动性失灵.加之我国正处在计划经济进一步向市场经济的转型期,旧经济秩序和新经济秩序二者之间的失序与构序之间如何有效衔接,减少转换过程中出现的秩序真空区间,也是亟待研究和解决的重大课题.必须充分发挥政府在建立和规范市场经济秩序中的作用,研究建立社会主义市场经济新秩序的治本之策,加快建立符合市场经济要求的法律法规体系、信用体系、制度框架,提高政府调控和管理经济的能力.     

Managing in an economic crisis: The role of market orientation in an international law firm

This research paper contributes to the understanding of the relationship between market orientation and performance in the context of a law firm during a time of economic crisis. The contribution is twofold, adding to the fairly limited research on market orientation within law firms, and to the limited research on the role of market orientation in times of economic crisis. The findings, from the questionnaire survey and semi-structured interviews within practice groups of a large multinational law firm, conclude that market orientation is important during an economic crisis. Those practice groups with higher market orientation scores withstand the increased turbulence and outperform those practice groups with lower market orientation scores.     

Market integration and convergence to the Law of One Price: evidence from the European car market

This paper exploits the unique case of European market integration to investigate the relationship between integration and price convergence in international markets. Using a panel data set of car prices, we examine how the process of integration has affected cross-country price dispersion in Europe. We find surprisingly strong evidence of convergence towards both the absolute and the relative versions of the Law of One Price (LOOP). Our analysis illuminates the main sources of segmentation in international markets and suggests the type of institutional changes that can successfully reduce it.     

从市场、流通入手突破存量困扰的思路前景和政策要点

"十一五"时期中国面临的重大主题都与不断累积的经济存量有关,如何化解经济存量中的突出矛盾和问题关系到中国经济未来的发展方向.本文从市场、流通入手,提出了突破存量困扰的四点政策思路,不仅有助于解决存量背后的深层次难题,而且能够产生巨大的挖潜效益,对新时期的政策取向有着重要的参考价值.     

公平披露规则对证券市场信息不对称的影响

本文以深圳成份股为样本,研究公平披露规则（RFD）对证券市场信息不对称的影响。通过计算逆向选择成本,并将其与收盘价、换手率等流动性指标进行回归,同时考虑到盈余公告日效应、周末效应等,发现RFD实施后逆向选择成本显著减少,说明规则有利于证券市场信息不对称的减少。本文结果还显示,实施RFD后,前盈余窗口的信息性交易比非盈余窗口的要大,后盈余窗口的逆向选择成本比非盈余窗口的要大;而在此之前,后盈余窗口的信息性交易与非盈余窗口相比要么不变,要么是减少的,从而进一步支持了前述结论。以此为基础,本文提出了完善RFD的若干建议。     

新兴市场国家吸引跨国并购的决定因素——从市场化程度视角的解析

近年来,发展中国家外国直接投资的流入量持续增加,并且跨国并购成为越来越重要的外资主要进入模式。本文考察新兴市场发展潜力与吸引跨国并购规模的内在相关性。通过理论和实证分析证实,新兴市场的市场潜力越大,特别是其中经济自由度、市场强度、商业基础设施的发展水平越高,吸引跨国并购的能力也越强。本文的启示是新兴市场国家市场经济制度的完善及与发达国家的接轨是提高吸收外资竞争力的重要条件。     

Mapping the evolution of the impact of economic transition on Central and Eastern European enterprises: A co-word analysis

Here we use co-word analysis on extant literature to map the intellectual structure of research addressing the impact of economic transition on Central and Eastern European enterprises during the 1989–2013 period. We collected and analyzed 2053 scholarly papers from the most comprehensive management databases, which were then used to develop. This paper contributes to the economic transition literature by providing an empirically derived framework based on the extant literature. This framework describes the main factors affecting enterprises during the transition process, the relationships among these factors and their evolution.     

Exchange Rate Effects on Domestic Prices in Bulgaria and Poland: Progress in Making Markets?

The economic liberalization which has occurred in Central and Eastern Europe (CEE) over the past 15 years generally has involved establishing domestic markets and privatizing state‐owned firms, both with the intention of integrating the CEE economies into the global economy and allowing the benefits of competition to be realized. We explore how well this has been accomplished in two countries, Poland and Bulgaria, and the domestic conditions that contribute to its accomplishment. The sensitivity of domestic markets to international shocks, as reflected in exchange rate effects on domestic prices, may be viewed as an indicator of how integrated a country’s markets are into the global economy, and a proxy for competition in those markets. In explaining variation in exchange‐rate pass‐through, we examine the impact of market structure, economic liberalization and infrastructure as factors contributing to the development of competitive markets. We find that although integration into global markets can significantly increase market competitiveness, domestic factors also play a significant role.     

略论宏观调控转向中性政策

中国经济增长进入新一轮的上升周期,目前的突出矛盾是某些行业投资增长过快;经济发展中既有总量和结构的问题,也有体制和增长方式的问题.面对经济运行中有热有冷、有快也有慢的复杂局面,宏观调控政策应该由"从松"的政策转向"中性"的政策,在实际工作中应做到有保有压、有抑制有发展.     

Foreign versus Domestic Survival in a Changing Environment

This paper explores whether and how environmental dynamics can affect foreign and domestic survival. Utilizing a unique longitudinal data set with 420 manufacturing plants created in the protected developing Greek economy (1960–1980), we test these plants’ ability to survive in the new, integrated environment (1981–2001), when Greece became a member of the European Union (EU). After controlling for time and age effects, we find that environmental dynamics in terms of integration and economic development negatively influence the survival of all tariff-jumping and unskilled labor-intensive plants, regardless of their ownership. However, survival evolution of foreign-owned and domestic plants differs over time depending on the country’s degree of economic integration. Specifically, during the shallow integration period (1981–1990), foreign-controlled plants tend to retain a survival premium, which they appear to have acquired in the protectionism era. This means that foreign-owned plants benefited more from external environmental dynamics in terms of tariff protection compared to domestic ones. Nevertheless, in the deep integration period (1991–2001), the declining survival rates tend to converge, and the foreign survival premium completely disappears. Consequently, in the long run, environmental change similarly affects foreign and domestic survival.     

Issues in European business education in the mid-nineteenth century: a comparative perspective

This article explores the emergence of European business education in the mid-nineteenth century. Drawing on archival analysis the typological study which this article proposes, attempts to show that business education before 1870 seems to have been a geographically and institutionally broader expression than has been described up to now. It identifies four organisational models of business education and reveals that higher business education was not limited to the Higher Schools of Commerce alone. It concludes that the European states took, directly or not, an interest in business education well before the end of the nineteenth century.     

The Use of Cones to Determine the Market Shares of Service Establishments in a Single Market

This article makes use of the shape of cones to describe the characteristics of market demand at a single location. It then uses the physical properties of cones and their intersections, supported by spacial economic theory, to determine the market shares of service establishments located within a single market. The results not only attach quantitative values to the importance of central place, but also emphasise the flexibility of the model's structure and point to a number of additional uses to which it may be applied. Finally, the model establishes a distance decay function which is based on economic reasoning.     

Changing Prices in a Weak Housing Market

Since November 2007,the trade volume of commercial housing has witnessed a drop across China.With the downturn of real estate,there have been numerous reports that housing prices are headed down.Headlines in newspapers have read＂House Prices Falling Faster in Shenzhen＂or＂Are Housing Prices in Guangzhou Reaching the Inflection Point？＂It is even reported that a guest on CCTV＇s Half-Hour Economy declared a 20 percent drop in housing prices in Guangzhou.     

Market Orientation Plus: Antecedents and Consequences of Market Orientation and Corporate Social Responsibility in Mexico

ABSTRACT

The evolution of the market orientation (MO) concept toward stakeholder-based corporate social responsibility (CSR) has been recognized recently. Nevertheless, the two variables remain conceptually and operationally different, and very little is known about the relationship between MO and CSR. The current study addresses this question empirically by embedding measures of MO and CSR into a framework of antecedents and consequences in the context of an emerging economy (Mexico). The results show that companies with high levels of MO also attain high levels of CSR. Further, CSR partially mediates the relationship between MO and corporate reputation and fully mediates the relationship between MO and employee commitment. Informal organization has a positive influence on MO and fully mediates the relationship between innovation and MO. The findings may encourage companies in emerging economies to implement CSR initiatives without fearing that their focus on customer and competitor orientation will be negatively affected.     

Market segmentation of fresh meat shoppers in Taiwan

Fresh meat product retailing at traditional markets in Taiwan causes concerns over meat safety issues.The agricultural administration has established programmes to raise consumer awareness of potential risks of fresh meat that have remained at room temperature for several hours. Although supermarkets sell chilled and frozen meat products, the majority of grocery shoppers in Taiwan still prefer purchasing fresh meat products at traditional markets where meat is displayed on counters or hung on hooks. This study utilizes survey data to segment meat shoppers in Taiwan. Results indicate the shoppers who purchase meat products at supermarkets tend to continue shopping at that location. Potential shoppers of supermarkets, who may switch from traditional markets to supermarkets for meat products, are identified and the major concerns of this group are the meat safety issues. Factors that influence the possibilities of selecting supermarkets for meat products are examined.     

Market Basket Analysis by Means of a Growing Neural Network

This paper demonstrates the application of a new growing neural network for market basket analysis. The algorithm to be introduced is an extension of the recently published ‘grow when required network’ and it is tailored in particular to the processing of large amounts of point of sale scanner data. Two of its most remarkable features are its parsimony regarding the number of parameters to be preset by the user and its considerable autonomy with respect to the network creation process. The simplicity of its implementation and its great flexibility make this algorithm an easy-to-use tool for exploratory data analysis in retailing, marketing and consumer research. The application of the algorithm is demonstrated by means of point of sale scanner data provided by two retail chains.     

发达国家服务贸易规制的比较分析与启示

在新的经济形势下,服务贸易的发展对一国经济结构的转型有着重大影响。政府规制是服务贸易发展的关键外部环境。本文通过对服务贸易中政府规制的必要性的分析,以及对美国、日本、欧盟的服务贸易规制的比较分析,提出了我国完善服务贸易规制体系的几点建议。