Absorptive capacity,learning, and performance in international joint ventures

This paper proposes and tests a model of IJV learning and performance that segments absorptive capacity into the three components originally proposed by Cohen and Levinthal (1990). First, trust between an IJV's parents and the IJV's relative absorptive capacity with its foreign parent are suggested to influence its ability to understand new knowledge held by foreign parents. Second, an IJV's learning structures and processes are proposed to influence its ability to assimilate new knowledge from those parents. Third, the IJV's strategy and training competence are suggested to shape its ability to apply the assimilated knowledge. Revisiting the Hungarian IJVs studied by Lyles and Salk (1996) 3 years later, we find support for the knowledge understanding and application predictions, and partial support for the knowledge assimilation prediction. Unexpectedly, our results suggest that trust and management support from foreign parents are associated with IJV performance but not learning. Our model and results offer a new perspective on IJV learning and performance as well as initial insights into how those relationships change over time. Copyright © 2001 John Wiley & Sons, Ltd.     

Working with risky consumers: multi‐professional care for substance‐using pregnant women

Substance use is increasingly common in many countries. Consumption and lifestyles associated with consumption often involve a number of specific health and legal risks for users. For pregnant women, the risks extend to the health and care of their unborn children. A multi‐professional approach to the management of substance use in pregnancy is recommended as best practice but, as with all strategies, effectiveness depends on the way that professional workers implement policy. This study evaluated evidence of multi‐professional working within local maternity services in and around a Scottish city by (a) collating and analysing data from the maternity records of 163 substance‐using women, who delivered between January 2001 and December 2003; and (b) conducting a questionnaire survey in 2004 with 120 midwives and neonatal nurses for their views on maternity care for substance‐using women and their babies. Despite the importance placed on multi‐professional working by midwives and neonatal nurses, maternity records indicated operational inconsistencies with implementation in some cases and not in others. Policy was not yet to be seen embedded in everyday practice.     

Competitive bidding strategies for European public contracts

Public contracts would seem a wonderful opportunity for firms outside the EC, but European public contracts seem closed to competition between European countries, let alone countries outside the EC. Recent new directives by the European Commission suggest a change, albeit a slow one, in the situation, and there are as well competitive bidding strategies European and US. Jirms may want to consider to open the door for their participation in this large marketplace.     

The Association between Trading Recommendations and Broker-Analysts' Earnings Forecasts

This study examines analyst forecast errors within the context of stock recommendations. We predict positive forecast error (i.e., optimism) for buy recommendations and negative forecast error (i.e., pessimism) for sell recommendations. We offer two explanations for this prediction: (1) the unconscious tendency to process information in a manner that supports one's goal, which we refer to as the "objectivity illusion" hypothesis, and (2) the economic incentive to boost trade, which we refer to as the "trade boosting" hypothesis. The pattern of analyst forecast bias we predict (i.e., optimism for buys and pessimism for sells) is opposite in direction to that predicted by the management relations hypothesis—a commonly cited hypothesis for analyst forecast bias.
We find broker-analyst earnings forecast errors are significantly optimistic for buy recommendations and significantly pessimistic for sell recommendations, consistent with the objectivity illusion and trade boosting hypotheses. Our study indicates that the pattern of results reported in prior research (i.e., increasingly optimistic earnings forecasts as the stock recommendation becomes less favorable) is likely driven by a correlated omitted variable, actual earnings. Results of an analysis to distinguish between trade boosting and objectivity illusion appear more consistent with the objectivity illusion.     

Risky IPTV Investment

IPTV （Internet Protocol television） is a frequently mentioned word recently, since Shanda changes its main business to IPTV, which isrecognized as a new technology and at- tractive business in the future. Shanda is the most active Chinese online game pioneer, it has produced one trail box, which will be used as the host while traditional TV station as terminal of the IPTV. Shanda hopes that the box＇s development and the family entertainment service operation will boost its revenue and help to recover the investors＇ confidence. It is estimated that Shanda has spend about $450 millions on IPTV in the last year, including production research and sales channel establishment. However, it is reported that the box is of poor quality. Even the internal trial members complained about the box＇s unsatisfactory performance. In addition, the price of the box is about 6,000 RMB each （equivalent US $ 800）, it is too expen-sive to most Chinese consumers.     

2003年服装市场:波澜起伏

今年以来,我国服装市场起伏变化比较大,这在近几年来是比较少见的.由于″SARS″的影响,2003年4月份以后,国内各地商业服装的销售都有不同程度的下降,春季和初夏的服装销售影响较大,疫区服装产品的销售影响较大,疫区服装产品的销售下降60%以上,5月初销售达到谷底.随着疫情的消退,服装销售逐步回复.从全国重点大型百货商场服装的销售情况看,受″非典″影响所积压的购买力,在7月份得到进一步释放.为促进在″非典″过后服装销售的复苏,各地商业和企业专卖店也在大力开展一系列的促销活动,力争得到″非典″过后的商机.