房价攀升对亚洲央行构成新挑战

【摩根士丹利7月7日】全球应对经济下滑的强力举措已经开始发挥效力,世界各地区经济走势出现了近乎同步的轻微好转。这些旨在扭转经济颓势的举措也推动了资产市场的大幅上涨、尤其是房价的攀升。日本之外亚洲（AXJ）地区的房地产市场在见底之后,已出现了大幅回升,香港、新加坡、汉城、上海、曼谷和孟买等金融中心表现得尤为突出。据我们所知,AXJ地区若干不同地点的房价涨幅在10％-40％。香港和新加坡与全球金融市场的联系较为密切,房价回升幅度最大。部分地点的价格指数已逼近全球信贷危机之前的峰值。房地产成交量也大幅上升。     

Analysis of Snack Food Purchasing and Consumption Behavior

This exploratory research examines the purchasing and consumption behavior of snack food consumers. A structured questionnaire and intercept interviews were used to collect quantitative data from respondents inside supermarket stores. For marketers, a key contribution of this study is the importance of the price attribute and certain product claims. Sugar and total fat were found to be the most important nutritional factors that consumers consider when making a purchase decision, but it was also found that only around one half of all consumers actually read product labels when purchasing snack foods. Matters of particular concern that are highlighted by this study are that one third of consumers do not consider their snacking behavior to be healthy, and one quarter of consumers choose to snack in secret. This study addressed a number of gaps in current knowledge by identifying the snack food products that are most frequently consumed, the reasons for consuming snacks, whether consumers read snack food product labels, the importance of various attributes and product claims, whether consumers regard their snacking behavior to be healthy, and whether they snack in secret.     

Diversity,knowledge clusters,and job placement: Graduate economics teaching of core microeconomics

The authors present an empirical analysis of what is taught in core micro-economics at a set of top U.S. doctoral economics programs. Their aim is to evaluate the diversity across programs and assess whether there are distinct “schools of thought” in graduate economics education. Their empirical findings reveal substantial, in fact, surprising diversity in what is taught. Application of a clustering algorithm results in programs clustering into two main “schools of thought.” The authors also specify an econometric model of job placement. Their job placement results indicate that candidates are more likely to be hired at schools in the same cluster as their home program, even after controlling for other factors. The results inform debates about graduate education and the relevance of a “common core” curriculum.     

The Effects of Work Stressors,Perceived Organizational Support,and Gender on Work-Family Conflict in Hong Kong

This study examined the direct and moderating effects of perceived organizational support (POS) and gender on the relationship between work stressors and work-family conflict for a sample of Hong Kong Chinese employees. As predicted, we found that POS is negatively related to both FWC (family-to-work conflict) and WFC (work-to-family conflict), and that work stressors (including role ambiguity, role conflict, and role overload) are positively related to FWC and WFC. Additionally, the positive relationship between role overload and WFC was found to be weaker when POS was high, suggesting that POS can offset the adverse impact of role overload.     

A model of local demand for education

A careful modeling of the spending behavior of local school districts in New Jersey is presented. The theoretical model relies on the common hypothesis of political competition leading to a median outcome as well as the assumption that school superintendents act as budget maximizers. The model is estimated for a sample of 177 school districts under three different aid formulas. Pooling of the cross sections suggests that the response of school expenditures to changes in variables other than those associated with school aid parameters has remained constant over time. The results are discussed in the context of recent theories regarding the effect of intergovernmental aid on the level of public expenditure.     

A Meta-Analysis of the Relationship Between Procedural Justice and Distributive Justice: Implications for Justice Research

Although there are many studies that utilize the constructs of procedural and distributive justice, this research tends to ignore the implications of the bivariate relationship between the two constructs. The stronger the relationship between the two constructs, the more problematic ignoring this relationship becomes. Therefore, a meta-analysis was conducted to estimate the relationship between procedural and distributive justice. We also conducted an initial assessment of extent to which the relationship between procedural and distributive justice was context sensitive. Finally, a series of methodological moderators was evaluated. Results indicated that the relationship between procedural and distributive justice is strong (= .64) across all studies. However, this relationship was moderated by research context, and even within research context, there was substantial evidence of variability. The results of the meta-analysis were discussed in terms of implications for theory, research methods, and construct measurement in justice research.     

CORPORATE TAKEOVER BARRIERS: VALUATION AND FIRM PERFORMANCE

This study provides additional evidence on the share price effect of takeover barriers such as antitakeover charter amendments, dual classes of common stock, and poison pill plans. The share price reaction to the construction of takeover barriers is found to be negative but insignificant. However, when disaggregated by type, significant negative share price reactions are found on construction of poison pill plans. New evidence on the possible relationship between firm performance and takeover barrier construction is also presented. The results of this study suggest that management of 'efficiently-run' firms may construct takeover barriers to deter value-diminishing takeovers.     

Inflation and health care costs in metropolitan areas.

This paper reports on an examination of the relationship between increases in health care costs in 23 Standard Metropolitan Statistical areas and various other changes in these communities over the period 1969-1977. The other changes examined consisted of 145 variables divided into 7 categories. The categories were termed demographic, economic, community illness, prices of other goods and services, hospital, physician, and technology factors. The results show that there was little relationship between rates of medical and hospital inflation and the examined variables. Total hospital costs could be related to several of the factors, the most important of which were demographic, economic, and hospital factors.     

Consumer-driven health care: lessons from the first five years

Lessons learned from the past five years' growth of the consumer-driven health movement bodes well for its longevity in the marketplace. The authors of this article review the results achieved by early adopters of consumer-driven health initiatives and the success strategies they've used in the areas of plan design, pricing, integration with wellness initiatives, communication and vendor selection. They conclude with a case example of how a transportation service company experienced substantial consumer-driven health plan enrollment and achieved a significant number of the key predictive success steps along the way.     

Innovation network trajectories and changes in resource bundles

This paper reports on an investigation into how changes in network resource bundles influence the success of innovation networks and how they change trajectories over time. Innovation networks are complex adaptive systems, and this paper uses a fuzzy set theory simulation methodological approach to capture complexity. The findings indicate that the interdependencies between knowledge variables and financial resources are the greatest contributor to high performing innovation networks, whereas the loss of social capital and its interdependency with the environment are the largest contributors to declines in innovation network performance. The paper suggests a more nuanced role for social capital within innovation networks and, importantly, highlights the sequencing of knowledge contributions, which take low performing innovation networks to high performing innovation networks.