企业区位选择与空间集聚的博弈分析

针对完全竞争市场条件下无法从企业的区位选择导出空间集聚的问题,本文对Hotelling模型进行了扩展,并运用博弈论的思想对企业的空间分布和集聚情况进行了分析.在Hotelling模型基础上,是否考虑集聚收益对企业空间分布产生重要影响:不存在集聚收益下的企业选择只取决于消费者偏好;但是考虑集聚收益后,企业的空间集聚不仅取决于消费者偏好,而且商品价格、运费率、集聚强度和消费者收入均会产生重要影响.     

Completing China's Interest Rate Liberalization

China's recent removal of the last ceiling restriction on deposit rates in October 2015 is a milestone in interest rate liberalization, but not the end of it. International experience suggests that, without structural and quantitative reforms, simply freeing interest rates can result in major financial stress. Before China's central bank can completely relinquish implicit or explicit guidance for commercial banks' interest rate determination, it needs to accomplish two tasks: improvement of commercial banks' pricing capability as well as the monetary policy transmission mechanism. Both tasks require significant reform measures to be initiated, such as enforcing market discipline, forming a new monetary policy framework, developing money and capital markets, abandoning quantitative restrictions on credit and reforming the financial regulatory system.     

双边FTA谈判的策略选择模型与实证分析

在"实施自由贸易区战略"的指导下,我国的自贸区建设工作已经取得了长足发展。在建立FTA的过程中,如何作出对我国经济长期可持续发展最有利的决策是FTA谈判的核心问题。为了解决这一问题,本文通过建立双层博弈模型以及逆向选择模型,并应用GTAP模型合成了双边FTA谈判策略选择理论和可计算模型。通过对中韩FTA所涉及的12个行业货物贸易产品的实证研究,本文证明了所建立模型的有效性,即可以通过双层博弈模型与逆向选择模型的联合应用,从正向和逆向两个角度确定不同行业的最优谈判策略。     

A multilevel framework to enhance organizational resilience

Abstract

Organizational resilience is a capacity that emerges at multiple levels. Although the multilevel character of organizations has been generally acknowledged in existing organizational studies, there is a lack of theoretical and empirical studies that address how it affects organizational resilience. To adress this gap, this article offers a multilevel framework applicable to enhance organizational resilience and presents an empirical study to probe the impact of multilevel elements on organization's capacity for responding to critical situations. More specifically, the new framework will help an organization to enhance its resilience through a process of self-assessment on crisis preparedness and response capacity. This process will allow the organization to identify and remedy potential vulnerabilities in the interaction between its organs as well as environment. We argue that crisis management and organizational resilience are mutually shaped across multiple levels, from individual, organizational, to environmental. These multiple levels are operationalized operationalization in four phases: (1) reviewing and monitoring context, (2) testing preparedness, (3) analysing and assessing responses, and (4) strengthening capabilities. In these phases, we underline that resilience management requires continuous embracing of the dynamic processes within an organizational system and its environment. To validate the framework, we present an empirical study on a security organization, and describe the results to demonstrate how to utilise the tool in practice. In conclusion, we discuss how the multilevel framework can be further applied towards building stronger resilience management.     

2000-2010年我国金融体系脆弱性的分析与测度

基于国家金融信息平台＂新华08＂从2000年到2010年我国金融监管当局和统计部门的数据,结合十年来我国实际经济运行状况和全球经济形势,在前人研究的基础上,本文对影响我国金融体系脆弱性水平的指标进行了选择,并且采用因子分析法做出了定量的测度。结果表明,十年来我国金融体系脆弱性水平有了长足的改善,其中流动性风险逐渐减少,信用风险和外汇风险不断波动。基于此,本文提出相关政策建议：防止突然的流动性反转、严控房地产市场的波动带来的信用风险、提高汇率风险管理水平和管理工具的操作水平以合理配置外汇资产。     

Management Earnings Forecasts,Earnings Announcements,and Institutional Trading in China

Abstract:

In this study, we investigate the trading behavior of institutional investors in China according to management earnings forecasts (MEFs) and earnings announcements (EAs). MEFs are mandatory under the stringent regulatory framework in China. We find evidence that both MEFs and EAs have an effect on the market. However, MEFs have a bigger effect on the market than do EAs. According to a sample of semiannual observations of firms from 2003 to 2008, we find that changes in the stock ownership of institutions are positively associated with EAs but not significantly associated with MEFs. When we further examine the relations between institutional characteristics and trading strategies, we find that growth funds exploit the arbitrage opportunity of MEFs.     

广东省公共交通一卡通发展政策研究

在全面总结广东省公共交通一卡通发展现状的基础上,系统分析了全省当前交通运输面临的形势和任务;结合公共交通一卡通系统建设目标,提出基本服务均等化、燃油补贴科学发放等重要领域和关键环节取得突破的发展方向;进一步深化改革开放、增强体制机制优势,从而全面提升广东省公交一卡通服务价值、能力和品质;继续推动广东省公共交通一卡通走在全国前列,深化区域经济社会一体化服务内涵,为广东省科学发展提供强大动力。     

润滑油企业产品标准编写过程中若干问题的探讨

产品标准是表述产品质量的基本技术文件,是企业标准体系的核心。针对企业产品标准审查工作,结合标准编写的规范要求,对润滑油企业产品标准编写过程中常见的问题进行了探讨。     

Context-bridging and context-embedded experience: Growth drivers of emerging economy business groups

This study examines emerging economy business groups’ growth directions during institutional change. Building on Penrose’s Theory of Growth of the Firm, we explore managerial resources as foundations for growth. Specifically, we argue that their growth directions are critically shaped by the nature of managerial experience of business groups. Experience that is context-embedded supports growth within the existing strategic paradigm, whereas context-bridging experience enables international growth. We test hypotheses derived from this theoretical argument for business groups in Taiwan, and find empirical support for our arguments.

     

Strategic Reorientation and Responses to the Asian Financial Crisis: The Case of the Manufacturing Industry in Singapore

Taking the Asian financial crisis as a base model that triggers decline among manufacturing firms in Singapore, this paper identified two main strategies taken: offensive strategic reorientation and defensive strategic shift. We hypothesized that firms that adopt the offensive strategic reorientation strategy attributed decline to controllable factors, have a higher level of slack, and are bigger in size. On the other hand, firms that adopt defensive strategic shift attributed decline to uncontrollable factors, are under greater severity of decline, have a lower level of slack and are smaller in size. We found significant relationships for the defensive strategic shift strategy.