Federal Health Care Leadership Skills Required in the 21st Century

The purpose of the current study was to identify and describe the skills required of future health care leaders in the U.S. Department of Defense, Department of Veterans Affairs, and the Department of Health and Human Services. The identified skills should also be relevant to leaders of nonfederal agencies or nonmedical disciplines, such as education, human services, and similar public sector‐oriented disciplines, where the leaders are challenged to engage with a multitude of local, state, federal, and not‐for‐profit entities. The study employed a focus group methodology during a 2‐day leadership summit. The participants were 47 senior health care leaders representing various federal agencies and the private sector. During facilitator‐guided sessions, six focus groups consisting of seven or eight randomly selected participants identified 165 skills that are required of leaders. Subsequent to the summit, content analysis was used to group the skills into 12 overarching skill sets. The 12 skill sets were the ability to build partnerships, develop trust, thrive in complex and ambiguous environments, listen actively, think with agility, create conditions for success, assert aspirational future‐based leadership, develop present moment awareness, create an interagency learning network, develop network leadership, develop network goal setting, and maintain resilience. It appeared that only the first six skills were noted in the literature. Further research is recommended to validate the findings including further investigation into the leadership competencies that are most effective at driving health and non health outcomes in communities.     

FDI and Industrial Restructuring in Post‐WTO Greater PRD: Implications on Regional Growth in China

This paper aims at studying the investment flows in the Greater Pearl River Delta region (Hong Kong‐PRD) in China and its impacts on industrial restructuring at the firm‐level using a business survey with the Hong Kong‐PRD entity acted as a core‐periphery economy. The critical effects of gravity distance on transaction costs in the determination of investment flows are examined statistically by a gravity model by incorporating a hypothetical infrastructural construction project. Survey findings show that the evolution of the cross‐border operations at the main core has directed the outward FDI flows and the subsequent industrial structural adjustments of the core‐periphery economy. This paper has presented a typical illustrative case for further studies of investment flows and its impacts upon industrial adjustments and performance in other regions in China especially after the WTO accession. Its implication on regional economic growth is also discussed.     

Foreign direct investment in China: Policy,recent trend and impact 1

One of the most important elements of China's economic reform has been the promotion of foreign direct investment (FDI) inflow. Government polices on FDI have gone through different stages in their main objectives since the late‐1970s, from gradually opening to foreign investors, to actively encouraging inward investment, directing FDI in accordance with domestic industrial restructuring, and complying with China's World Trade Organization (WTO) obligations. FDI in China has experienced rapid growth especially since the mid‐1990s, as well as structural change. Most of the earlier investments were small scale, labor‐intensive and export‐oriented. In recent years, more investment has been large scale and more capital and technology intensive, aiming at both domestic and export markets. Moreover, increasingly more investment has come from the industrial world, and has located along the eastern coastal regions, in additional to the two southeastern provinces. FDI has played a crucial role in China's rapid growth, economic transition, and, mostly importantly, integration with the world. China's recent accession to the WTO provides more incentives to foreign investors. At the same time, it will also result in more intense competition for domestic firms.     

Ocean Carriers’ Collusion Under Antitrust Immunity: Evidence of Asymmetric Pass-Through

As fuel costs are the largest component of the shipping industry’s operating costs, this study examines whether ocean carriers pass fuel cost increases through to freight rates more quickly than they pass through fuel cost decreases. The focal price collusion theory suggests that such asymmetric pass-through could be a result of collusive behavior because collusion is easier to sustain when costs are falling than when costs are rising. Using a lag-adjustment model as the econometric framework, findings from this study show strong evidence for asymmetric adjustments of the US inbound freight rates in response to fuel cost changes. Such asymmetry persisted after the passage of the Ocean Shipping Reform Act of 1998. Moreover, the findings do not support the consumer search theory as an alternative explanation for the freight rate asymmetry.     

When do informed traders acquire and trade on informational advantage? Evidence from Federal Reserve stress tests

Using Federal Reserve bank stress test announcements, we examine when option traders acquire informational advantage and when they exploit it. We find consistent evidence of informed options trading around announcements. However, when test results are announced in successive weeks we find high abnormal option volume, considerably positive abnormal returns and significant return predictability in the first week, but not the following week. This suggests that informed option traders are able to anticipate upcoming news events and skillfully process public information but it also suggests that trading on acquired information is conditioned on the level of information asymmetry in the market.     

Barriers to the Implementation of Corporate Social Responsibility in Gaming Industry

Corporate Social Responsibility (CSR) is an important tool to reduce the adverse impact of the gaming industry. There were very limited studies specifically analyzed barriers of CSR practice in the gaming industry. This study adopted in-depth interviews and verified the interviews by dividing two informant groups. The results showed that cognitive dissonance, negative image, management dilemma, resources limitation, confused regulations, and unsustainable impetus were the major barriers in CSR implementation. Furthermore, the practical recommendations and suggestions were discussed.     

A cointegration analysis of the Asian dollar and Eurodollar interest rate transmission mechanism

The transmission mechanism between the Asian dollar and Eurodollar markets is investigated for the period 1981–1989 using a cointegration analysis and error correction model. Results indicate the absence of reverse causality in the Asian dollar market throughout the 1980s. In the Eurodollar market, reverse causality exists in the first half, but disappears in the second half of the decade. Both markets are evolving into rapid incorporation of prior interest rate information into current rates. These results are likely to be due to reduced market regulation, expansion of futures trading, more sophisticated telecommunications and 24-hour trading practices.The authors wish to thank Zoltan Acs and Elizabeth Cooperman for helpful comments and suggestions. Invaluable assistance in data collection and entry was provided by Brett Salazar. Any errors remain our own.     

Volatility,global information,and market conditions: a study in futures markets

This study examined the behavior of return volatility in relation to the timing of information flow under different market conditions influenced by trading volume and market depth. We emphasized information flow during trading and nontrading periods that may represent domestic and offshore information in the global trading of currencies. Test results show that volatility was negatively related to market depth; that is, deeper markets had relatively less return volatility. Additionally, the effect that market depth had on volatility was superseded by information within trading volume. Test results focusing on the timing of information flow reveal that in low‐volume markets, the volatility of nontrading‐period returns exceeded the volatility of trading‐period returns. However, when trading volume was high, this pattern was reversed and conformed to the observations of earlier articles. Our findings proved to be robust across time, different currency markets, and different measures of return volatility. We also observed a trend toward greater integration between foreign and U.S. financial markets; the U.S. market increasingly emphasized information from nontrading periods to supplement information arriving during trading periods. © 2001 John Wiley & Sons, Inc. Jrl Fut Mark 21:173–196, 2001     

Introduction to the special issue on ‘global trading system and protectionism: China,the United States and Europe’

ABSTRACT

In this Introduction to our Special Issue, we provide detailed and critical comments and summaries of the excellent papers. The papers are important contributions to the China-U.S. and China-Europe economic and trade issues in the context of the global trading environment, as shaped by the current unorthodox policies of the Trump Administration. The wonderful papers dealt with relevant issues related to international trade, investment, national security, trade laws, intellectual property rights laws, political science, business, etc. They constitute a must-read for academics, policy and business researchers, think tank fellows, experts in international organizations, as well as government-related researchers in various national capitals. The three Co-editors are all experienced and accomplished academics with vast experiences in public policies. As academics, they may hold different views but their unique and diverse perspectives provide an important background to the Special Issue. They jointly contributed major efforts to this timely and important Special Issue.