Credit ratings and long-term IPO performance

We examine the impact of credit ratings on long-term IPO pricing. Our findings suggest that the provision of credit ratings prior to IPO reduces information asymmetry and improves market efficiency. The increase in disclosure through credit ratings can reduce information risk and price discounts. IPOs with (without) credit ratings are less (more) underpriced and more positively (negatively) perceived by outside investors. The market reactions for rated IPOs are more immediate and more complete (as the result of improved transparency), while long-term performance is insignificant when information asymmetry is reduced.     

润滑油基础油组成对其性能的影响

介绍了润滑油基础油的组成和目前研究结构组成所用的分析方法，通过分析基础油的结构组成对性能的影响，指出哪些烃类是基础油的理想组分，并从结构组成的角度分析了不同基础油性质的差异，提出未来基础油研究和生产的发展方向。     

广东省一传毒线虫种——胼胝拟毛刺线虫的调查研究

2008年-2010年,笔者对广东省主要地区的园林植物进行传毒类线虫病害调查,首次在灰木莲（Magnoliaceae glanca）上分离到检疫性传毒线虫——胼胝拟毛刺线虫（Paratrichodorus porosus）。本文对该虫的形态特征、测量值及分子数据进行了记述,并对其发生危害进行了讨论。     

PURCHASING POWER PARITY WITH RANK TESTS FOR NONLINEAR COINTEGRATION IN AFRICAN COUNTRIES

This study applies nonlinear cointegration to assess exchange rates with the corresponding relative prices and aggregate price levels for 20 African countries. We find that a nonparametric rank test has higher power than parametric testing procedures; a true data‐generating process of exchange rate is in fact a stationary nonlinear process. We examine the validity of purchasing power parity (PPP) from the nonparametric nonlinear point of view and provide robust evidence that clearly indicates PPP holds true for these countries. Hence, the long‐run African countries exchange rate adjustments are in equilibrium with the relevant fundamentals as suggested by the PPP hypothesis in a nonlinear way.     

基于改进ABC分类法的钢铁企业原燃料库存管理研究

针对钢铁企业原燃料库存的特点在传统ABC分类法的基础上进行了改进,增加了对价格波动性和消耗量稳定性的考虑,并利用模糊聚类算法对F钢铁企业进行了实例计算,分别针对采购成本主导类和库存成本主导类原燃料库存提出相应的管理策略。     

基于改进ABC分类法的钢铁企业原燃料库存管理研究

针对钢铁企业原燃料库存的特点在传统ABC分类法的基础上进行了改进.增加了对价格波动性和消耗量稳定性的考虑,并利用模糊聚类算法对F钢铁企业进行了实例计算,分别针对采购成本主导类和库存成本主导类原燃料库存提出相应的管理策略.     

An examination of the influence of guanxi and xinyong (utilization of personal trust) on negotiation outcome in China: An old friend approach

Managers of multi-national enterprises (MNEs) are at a disadvantage in negotiating outcomes with their Chinese counterparts when compared to local competitors. The reasons include: local competitors are more flexible in handling business terms and conditions; local Chinese managers prefer to negotiate with their old friends or insiders in the same guanxi network; and MNE managers perceive that cultural practices such as gift-giving and guanxi are problematic. This study advances our understanding of negotiation by using a model developed for the reference of MNEs to establish an “old friend” relational status with their local Chinese counterparts. This approach emphasizes cultural adaptation for MNE managers to achieve satisfying negotiation outcomes in China.The study reveals the following unique issues: 1) in addition to their problem-solving attitude, MNE managers should practice mianzi and gift-giving to build renqing with their Chinese counterparts at a new friend stage; 2) the reciprocity dynamics of renqing should enable these managers to accumulate ganqing and to become old friends of their Chinese counterparts; 3) the establishment of ganqing between MNE managers and their Chinese counterparts should enable the development of xinyong between the two exchange parties; and 4) desirable negotiation outcomes can be built on xinyong.     

低碳城市客运交通的实现路径分析

实现低碳城市客运交通目标必须多措并举,多管齐下。第一,构建市民低碳交通伦理,提高市民低碳出行的文化认知;第二,采取低碳工程措施,以科技手段实现城市客运交通的减碳;第三,拓宽投融资渠道,解决城市客运交通低碳化的资金瓶颈;第四,制定科学的城市公交规划,使公交优先方针落到实处。     

高职院校思想政治理论课实践教学的探索与思考

重视教学的实践性,在实践中培养学生的实践意识和实践能力,是高职院校教学的显著特征,也是高职院校思想政治理论课应该遵循的一个重要教学原则。做好思想政治理论课的实践教学,与之相关的各部门必须相互配合,各司其职,齐抓共管。要制定有针对性的实践教学计划,开展好课内、校内实践活动,同时大力推荐校外实践基地的建立。     

Analytic collaboration in virtual innovation projects

Researchers attend to innovation and collaboration issues. Yet, the relevant literature devotes scant attention to the relationship between collaboration effectiveness and virtual innovation team context, while there are clear indications that both subjects relate with growing concerns in today's business setting. This article reviews extant literature and state-of-the art collaboration systems, and elucidate dynamic contextual factors among virtual innovation team members. The results show the antecedents and interrelationship among these factors, suggesting an optimal collaboration model for virtual innovation project teams. This paper documents the empirical observations of a virtual innovation project for advanced textile manufacturing technologies, and examines the due collaboration taking place among different project participants. Understanding the set of contextual factors emerging from virtual innovation projects can help managers classify, and employ the most effective collaboration mechanism for enhancing the corresponding project performance and effectiveness pragmatically.