THE REVENUE‐SHARING RULE FOR INTERCONNECTION CHARGES*

In this paper we explore the economic principle behind the revenue‐sharing rule for interconnection charges. Our main finding is that symmetric firms can collude by splitting the revenues equally. We further characterize the optimal revenue‐sharing ratio and discuss the relationship between optimal ratio and the optimal access price. We also show that the revenue‐sharing rule can have the perverse effect of inducing a firm to raise its own costs in order to gain a higher share of revenues.     

High‐Performance Work System and Organizational Turnover in East and Southeast Asian Countries1

In this paper, we examine the impact of high‐performance work systems (HPWSs) on both voluntary and involuntary organizational turnover rates. Most research on this topic has been done in the United States. Given the global competitive pressures confronting many of the countries of East and Southeast Asia, companies in this region are seeking to become more flexible and often adapt HPWSs practices. We explore the impact of HPWSs in both locally owned companies and subsidiaries of multinational corporations in Korea, Taiwan, Singapore, and Thailand. These countries have significantly different national cultures from the United States and most other Western countries and HPWSs effects in relation to turnover might vary from the studies based in the United States. Our findings are, however, somewhat consistent with U.S.‐based studies. In fact, HPWSs were found to be more effective in reducing turnover in locally owned companies than in subsidiaries of Western and Japanese multinational companies.     

8招化解供应链风险

经济衰退和复苏都会给企业的供应链带来巨大的风险,这里,我们提供8条建议来协助企业更好地管理供应链(客户和供应商)。1可视化风险,做长远打算只有确切了解供应链中的薄弱环节所在,才能很好地控制它。     

The market for American state government bonds in Britain and the United States, 1830–431

In the 1830s the British and American economies were hit by a series of shared macroeconomic shocks. This paper investigates the role of markets for America's State bonds in Britain and the USA during and between the crises in 1837, 1839, and 1842.There is strong evidence that the crises in 1839 and 1842 originated in the USA and spread to Britain. There is also strong evidence that credit markets for American state bonds were tighter in the USA than in London between 1839 and 1842. The idea that the depression that began in 1839 in the USA was triggered by credit conditions in Britain and transmitted via the market for state credit, finds no support here.     

Knowledge of iron nutrition by university students in Japan,Korea, Thailand and Indonesia

Current advances in iron nutrition are remarkable. This study was carried out to determine the level of knowledge among the university and college students in Japan, Korea, Thailand and Indonesia. Although about 90% of the students participating in the study knew that iron deficiency causes anaemia, they have poor overall knowledge about iron nutrition. More Korean students believed that milk and its products are a good source of iron and the promoter for its absorption. This may be attributed to misunderstandings engendered by the mass media. Iron nutrition education in home economics classes at primary and junior high schools is important, and home economics teachers in South-east Asia must emphasize this importance.     

The contribution of home economics teaching to nutrition knowledge and food choice among adolescents

The diets of two groups of adolescent schoolchildren living in Lothian were assessed. Children who studied Home Economics at Standard Grade were compared with those who did not. A short questionnaire and a dietary diary were used to establish nutrition knowledge and food choice over a period of 7 days, allowing comparisons to be drawn between students who study Home Economics and those who do not. Nutrition knowledge was better among those studying Home Economics. Eating patterns among those studying Home Economics followed more closely the recommended percentages of dietary energy derived from protein, fat and carbohydrate, but there was also considerable evidence that those studying Home Economics tended to eat less generally and to have lower intakes of micronutrients, such as calcium, iron and folic acid. Possible reasons for the differences in nutrition knowledge and eating habits are discussed, with some indicators for future work in this area.     

The Geography of Block Acquisitions

Using a large sample of partial block acquisitions, we examine the importance of geographic proximity in corporate governance and target returns. We find that block acquirers have a strong preference for geographically proximate targets and acquirers that purchase shares in such targets are more likely to engage in post‐acquisition target governance activities than are remote block acquirers. Moreover, the targets of these acquirers realize higher announcement returns and better post‐acquisition operating performance than do targets of other types of acquirers, particularly when they face greater information asymmetries.     

Social Security,Government Finance,and Savings*

This paper considers the impact of social security and the government financing mix on saving behaviour and aggregate economic activity. The theoretical argument for the neutrality of these actions is shown to have validity only if we consider the economy as behaving like a composite individual. Particular individuals do not face the same marginal rates of substitution and transformation as the hypothetical composite, due to corner solutions, illusions, and important distribution effects. Empirically, neutrality for the whole economy depends on the relative strengths of the offsetting forces faced by the individuals. Our findings with Australian data suggest that neither the level of aged pensions, nor the government financing mix, have substantial real effects on aggregate saving behaviour.