Value in business and industrial marketing: Past,present, and future

This article offers an overview of research on the ‘value’ that businesses and industrial marketers analyze, create, and deliver. First, value literature (up to and around 2005 and post 2005) is discussed. This review highlights the changes in our notions of value and helps to identify seven areas for consideration that should drive future research: value proposition, relationship form, capabilities management, value metrics, temporal horizon, innovation imperative, and tactical focus. Following this depiction of value analysis, value creation, and value delivery, we present a process model for value orchestration in business and industrial marketing. Three activities collectively form the basis of value orchestration, namely structuring activities, bundling activities, and leveraging of resources.     

Duration of Rent Extraction and the Entry Mode Decision of Multinational Enterprises

The prior literature is ambiguous about the effects of stronger intellectual property rights (IPR) on the choice of a multinational firm's mode of entry into foreign markets. However, available indexes of IPR protection exist only at the country level and do not identify interindustry variation in the ability to extract rents through exclusive rights and other factors. The authors introduce this dimension and compute a parameter that reflects the relative length of time that positive profits may be earned in various industries. Estimation results find that strengthening IPR would reduce exporting in all industries in the sample. However, it would raise (reduce) foreign direct investment, relative to licensing, in industries with shorter (longer) rent‐extraction times.     

国有企业、金融市场改革与养老保险制度改革的互动效应--中国如何解决老年保障问题?

中国政府非常清楚社会保障所面临的危机，决定寻求解决办法。拟议中的社会保障改革的核心是积累制和整合条块分割的体系，计划为每个工人建立个人退休账户，对养老基金进行有效投资。然而，这种改革受阻于三个关键因素。(1)在向积累制的转化过程中必须支付特制成本；(2)现有的社会保障体系条块分割、分散化管理3(3)已经积累的基金尚未取得高收益，也未分配到最有效率的用途上。     

Carbon sequestration and farm income in West Africa: Identifying best management practices for smallholder agricultural systems in northern Ghana

The interest in agricultural soils as global storage of carbon has increased in recent years, along with the prospect of farmers' participation in payment schemes under the Clean Development Mechanism of the Kyoto protocol. Thus, a better understanding of agricultural practices that can increase soil carbon and enhance the livelihoods of farmers is necessary, particularly in smallholder farming systems of West Africa. This study evaluates different crop management strategies both by their capacity to sequester carbon in agricultural soils and by their contribution to household income. A case study in Wa, Upper West Region of Ghana is used to test 48 different cropping strategies by means of a crop simulation model and a household-level multiple-criteria optimisation model. Each cropping strategy is evaluated after a 20-year simulation period by its capacity to accrue carbon in the soil, by its economic performance at the plot-level, and by its contribution to the farm income with and without carbon payments. A set of best management practices that concomitantly increase soil carbon and farm income are identified and classified by their cost of investment.     

The dynamics of responder behavior in ultimatum games: a meta-study

Using data aggregated from seven papers that study repeated play in standard ultimatum games with either stranger or absolute stranger matching, we show that the behavior of responders changes with experience. High offers are more likely to be accepted with experience and low offers are more likely to be rejected. At the individual level, there is a negative relationship between the likelihood that a given offer is accepted and the size of the preceding offer. We compare the results with predictions generated by static models of distributional preferences, implicitly dynamic models of preferences with reciprocity, and explicitly dynamic models of adaptive learning. The data is most consistent with models of preferences with reciprocity.     

Private saving in India and Malaysia compared: the roles of financial liberalization and expected pension benefits

In this article, we provide a comparative account of the evolution of private saving in India and Malaysia, and analyze how policy changes in the financial sector and pension system help explain differences in their saving performance. Using the Autoregressive Distributed Lag (ARDL) bounds estimation procedure, we find a fairly robust long-run relationship between private saving and its determinants in both countries. Consistent with the predictions made in the life cycle model, our results indicate that higher income growth stimulates private saving and an increase in age dependency retards private saving. The results provide some support for the hypothesis that financial liberalization results in lower private saving in both countries. The evidence also indicates that expected pension benefits tend to stimulate private saving in India, but that the reverse is found in Malaysia.     

A framework for mapping industrial emergence

The industrial landscape is becoming increasingly complex and dynamic, with innovative technologies stimulating the emergence of new applications, business models and industries. This paper presents a framework for mapping science and technology-based industrial emergence, in order to better understand the nature and characteristics of such phenomena, as a basis for improved strategy development. A full lifecycle perspective is included, emphasizing early stage phases associated with scientific and technological developments, together with key transitions between phases related to the conversion of scientific knowledge to technological capability, application, industrial activity and economic value. Roadmapping concepts are used to map industrial emergence phenomena from various perspectives that cover value creation and capture activities together with demand and supply-side factors. The framework has been tested by developing more than 25 diverse ‘emergence maps’ of historical industrial evolution, building confidence that the framework might be applicable to current and future emergence. Common characteristics of industrial emergence have been identified, including key events and milestones, focusing on a chain of demonstrators that delineate the various phases and transitions.     

Liquidity constrained exporters and trade

We present a model of a risk-averse exporting firm subject to liquidity constraints. We show that preferences and expectations become important for optimum export and hedging decisions. Only firms that have sufficient financial resources can fully materialize gains from trade.     

An integrated decision-support approach in prioritizing risks of non-indigenous species in the face of high uncertainty

When evaluating the risks of future invasions, we often have sparse information on the likelihood that a species will arrive, establish and spread in a new environment, and on the potential impacts should this occur. Conventional risk assessment, therefore, is limited in providing guidance in managing the risk of non-indigenous species (NIS). However, risk management decisions must be made facing these uncertainties to avoid high and irreversible impacts.We develop an integrated ecological economic modeling and deliberative multi-criteria evaluation (DMCE) approach to support group decision-making in risk prioritization, using an example of ten NIS that could potentially impact Australian plant industries. This innovative approach seeks to combine the advantages of dynamic modeling with the benefits of DMCE in assessing and communicating uncertainty. The model unveils the complexity of the socio-ecological system of biological invasion, with a scenario analysis designed to interactively communicate scientific uncertainty to decision-makers. The DMCE provides a structured approach to identifying stakeholders' key concerns in addressing economic, social, and environmental dimensions of NIS risk explicitly. Functioning as a platform for risk communication, the DMCE also offers an opportunity for diverse views to enter the decision-making process and for the negotiation of consensus consensuses.     

Accounting for the ecosystem services of migratory species: Quantifying migration support and spatial subsidies

Migratory species support ecosystem process and function in multiple areas, establishing ecological linkages between their different habitats. As they travel, migratory species also provide ecosystem services to people in many different locations. Previous research suggests there may be spatial mismatches between locations where humans use services and the ecosystems that produce them. This occurs with migratory species, between the areas that most support the species' population viability - and hence their long-term ability to provide services - and the locations where species provide the most ecosystem services. This paper presents a conceptual framework for estimating how much a particular location supports the provision of ecosystem services in other locations, and for estimating the extent to which local benefits are dependent upon other locations. We also describe a method for estimating the net payment, or subsidy, owed by or to a location that balances benefits received and support provided by locations throughout the migratory range of multiple species. The ability to quantify these spatial subsidies could provide a foundation for the establishment of markets that incentivize cross-jurisdictional cooperative management of migratory species. It could also provide a mechanism for resolving conflicts over the sustainable and equitable allocation of exploited migratory species.