Ubiquitous computing and its effects on small businesses

Much of the previous literature on ubiquitous computing (UbiComp) has been limited to case studies, reporting innovative practices of specific technologies (e.g., RFID) and social issues. There is a general paucity of research on strategic application of UbiComp, especially to small businesses. To address this issue, this study provides a broad overview of the current practices of UbiComp in leading countries and presents possible future directions. Then, the effects of UbiComp on small businesses are discussed. Through a cross-national comparative analysis, we present four strategies to provide some guidance to the countries that are currently considering entering into the UbiComp race.     

On the informationization of accounting information in China： The perspective of accounting information systems and its regulatory framework in the USA

The informationization of accounting information systems has brought many improvements to those systems. This paper highlights some of those significant advances in the informationization of accounting information systems in China. As China has become a major industrial power in the international economy, further improvements for these information systems are critical to the continued successes of China. To additionally improve these systems, China can draw upon the systems from other world economic leaders. With its fully developed capital markets, the United States offers development experience for the external reporting components of a fully integrated information system. This paper discusses a typical integrated information system in the United States and addresses the regulatory milestones that were instrumental in the development of those external components of accounting information systems. Recommendations are presented for improving informationization of systems in China based on U.S. systems＇ responses to those milestones.     

Imported Technology and R&D in the Taiwanese Electronic Industry

The paper identifies the R&D status of the Taiwanese electronics industry by employing a bivariate probit selectivity model to examine the relationship between imports of technology and inhouse R&D at the firm level. A complementary relationship between imported technology and inhouse R&D is observed, which implies that imported technology does not inhibit inhouse R&D in the Taiwanese electronic industry. However, technology-importing enterprises have a higher average level of R&D expenditure than nonimporting ones, indicating that the R&D conducted in the industry is dominated by the adaptive R&D of the technology-importing enterprises.     

Optimal Tariffs with Endogenous Production Location

This paper attempts to examine how the inclusion of economic space affects trade policies and to make a comparison between optimal tariffs with endogenous location and those with exogenous location. In particular, it is shown that the output effect of a tariff change with endogenous location is greater than that with exogenous location if the production function is non-CRS. Moreover, when the production function is CRS (resp. not CRS), the optimal tariff under endogenous location is the same as (lower than) the one under exogenous location.     

Country-specific sentiment and security prices

I study the effect of country-specific sentiment on security prices. I provide evidence that a country’s popularity among Americans affects US investors’ demand for securities from that country and causes security prices to deviate from their fundamental values. Moreover, I find that country popularity is positively associated with the intensity of US cross-border mergers and acquisitions activity, suggesting that country popularity also affects firms’ investment decisions.     

A dynamic framework for analyzing technology standardisation using network analysis and game theory

As more technologies and industries converge, technology standards are more likely to be a strategic factor for firms and governments that are interested in the market with standards-based competition. From the previous research, a new standardisation framework was proposed by combining network analysis and the game theory model but was constrained by feasibility and dynamic approach. In this study, the case of the standards war between HD-DVD and Blu-ray was analyzed with patent data as an empirical case considering a dynamic framework. With this framework, we observed a change in a firm’s technology relations and could predict the decline in a firm’s preference and the shift of equilibrium ahead of Toshiba’s resignation.     

The demand for money in korea: Evidence from the cointegration test

This paper shows that there exists a long-run equilibrium relationship between M2 and its determinants, real income and the long-term interest rate, in Korea by using Johansen and Juselius maximum likelihood cointegration method. However, M1 does not have any meaningful cointegration relationships with its determinants. The long-term interest rate is a better proxy than the short-term rate to measure the opportunity cost of holding money. Based on the results, a broad definition of money is a better measure than a narrow definition of money in considering the long-run economic impacts of changes in monetary policy in Korea.     

Do Reverse Stock Splits Benefit Long-term Shareholders?

This paper examines the market response of the reverse stock splits by using the effective date to trace the abnormal returns after reverse splits over the period of 1981 to 2010:3. The findings show that the short-term behavior of the abnormal returns on the effective date is negative and highly significant for all firms. The abnormal returns on the effective month are negative and highly significant. As expected, the cumulative abnormal returns are negative and significant at 10?% level over the period of +1 to +12?months. However, the cumulative abnormal returns from month +13 to month +36 are significantly positive. Our findings also support that institutional investors show confidence by increasing mean holdings of reverse splits of large capital stocks.     

Analysis of product efficiency in the Korean automobile market from a consumer’s perspective

In this study we develop and describe a conceptual and methodological framework to measure technical and allocative efficiency at the product level considering consumer choice, which encompasses overall efficiency. Empirically, we combined data envelopment analysis and a discrete choice model in order to measure efficiency levels. The suggested framework is applied to the Korean automobile market. The relationship between the level of efficiency and market performance is discussed in terms of market share.     

A microstructure examination of trading activity following stock splits

In a study of 1,131 stock splits spanning the period 1983–1989 we observe an increase in the number of trades as well as a reduction in the mean trade size following the split. Combined with earlier reported findings of an increase in the number of shareholders postsplit, we conclude that the number of liquidity traders increases after a split. We confirm the previously observed increase in the bid-ask spread following a split, and upon decomposition of the spread find an increase in its adverse selection component in the postsplit period. This is consistent with the finding by Brennan and Hughes (1991) of an increase in the number of analysts following a stock after a split. Further, observing a decrease in market depth following a split we determine that Kyle-type models incorporating diverse private information for informed traders most correctly describe the nature of security trading. Since this decrease in postsplit market depth is not related to the trading volume or the split factor, we reject price correction explanations for stock splits.