Foreign Banks in Transition Countries: To Whom Do They Lend and How Are They Financed?

We use focused interviews with managers of foreign parent banks and their affiliates in Central Europe and the Baltic States to analyze the small‐business lending and internal capital markets of multinational financial institutions. Our approach allows us to complement the standard empirical literature, which has difficulty in analyzing important issues such as lending technologies and capital allocation. We find that the acquisition of local banks by foreign banks has not led to a persistent bias in these banks' credit supply toward large multinational corporations. Instead, increased competition and the improvement of subsidiaries' lending technologies have led foreign banks to gradually expand into the SME and retail markets. Second, it is demonstrated that local bank affiliates are strongly influenced by the capital allocation and credit steering mechanisms of the parent bank.     

工作背景下知识型员工情绪影响因素维度研究

在知识经济时代，知识型员工对企业获得核心竞争力起着越来越重要的作用。知识型员工的情绪管理是对员工进行潜能开发的关键，也是未来人力资源管理工作的重点。本文主要针对企业的知识型员工进行情绪影响因素调查，然后通过扎根理论的质化研究方法，提炼出在工作背景下影响知识型员工情绪的因素（即12个维度）。针对这12个维度，笔者进一步基于文献和管理理论进行了维度精练，得到9个维度。然后，根据得到的维度，编写问卷，收集数据，通过探索性因子分析得到知识型员工的情绪管理维度。     

The Washington Consensus: A post-mortem

After guiding development policies for nearly 20 years, the “Washington Consensus” lies in shambles. Although selected components remain relevant for development policies around the world, some specifics of the broader policy “package” and, more generally, the concept of a standardized package of policies applicable to all developing countries has clearly been discredited.Criticism has been directed at the assumed link from economic liberalization of international trade and financial flows to more rapid economic growth. Apart from a handful of developing countries, admittedly including some large and important ones, most of the world saw little of the promised economic benefit from widespread and on-going trade and financial liberalization, initially. Many countries actually regressed, when evaluated against broader socio-economic development goals, including income inequality. We conclude that differences in initial conditions (history, culture, geography and levels of industrial and institutional development) preclude any single development policy package from being universally effective.     

Time-Series Characteristics and Long-Run Equilibrium for Major Australian Office Markets

While much attention has focused on the modeling of office property markets, little emphasis has been put on distinguishing between permanent and temporary effects. This article attempts to address this issue in the context of the rental adjustment mechanism and the demand–employment relationship for major Australian central business district office markets. It is shown that, by allowing the natural vacancy rate and the work–space ratio to be endogenously determined, it offers richer model specifications that permit a partitioning between long-run and short-run influences. This is achieved by employing econometric techniques that examine the stochastic behavior of time series data. It is found that, while equilibrium relationships exist (between the vacancy rate and rent, and demand and employment), other macroeconomic variables are found to be relevant cyclical determinants.     

Training and economic density: Some evidence form Italian provinces

In this paper we use a search and matching model to investigate the economic relationship between training and local economic conditions. We identify two aspects of this relationship going in opposite directions: on the one hand, the complementarity between local knowledge spillovers and training generates a positive correlation between training and local density; on the other hand, higher wages and labor turnover in denser areas reduce training. Overall the relationship can be either positive or negative, depending on the relative strength of these two effects. Our empirical analysis, based on a sample of Italian firms, shows that training is lower in provinces with higher labor market density, measured as the number of employees per squared kilometer.     

Analytical analysis of a generic assembly system

The assembly of components is a key element in manufacturing facilities. Nevertheless, literature analyzing the dynamic behavior remains scarce. The paper narrows this gap by studying a generic first-come first-serve assembly system, consisting of two generally distributed component input streams. The field of probability theory serves as a means to derive good approximations for the waiting time of the components to form a kit and the inter-arrival time of the kits at the assembly station. Apart from providing insight in generally accepted managerial principles, this analysis also constitutes a required step in obtaining the performance of an open queuing network including assemblies.