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31.
Lan Li Eliza Ching-Yick Tse Jing-Ling Zhao 《International Journal of Hospitality & Tourism Administration》2013,14(3):213-231
This study tests the model of the relationship between corporate entrepreneurship and strategic management, developed for the manufacturing industry by Barringer and Bluedorn (1999), in the hospitality industry. The findings show some similar and different results from the research of Barringer and Bluedorn (1999). Like manufacturing companies, hospitality companies perceive that corporate entrepreneurship is influenced by four strategic planning practices: environmental scanning intensity, planning flexibility, planning horizon, and locus of planning. Hospitality companies, however, consider that financial controls, not strategic controls, positively influence corporate entrepreneurship intensity. These findings have practical applications for hospitality corporations that are attempting to become more entrepreneurial, and will also help researchers to better understand the relationship of corporate entrepreneurship and strategic planning. 相似文献
32.
Anthony S. Tay Christopher Ting Yiu Kuen Tse Mitch Warachka 《Quantitative Finance》2013,13(3):447-457
We explore the role of trade volume, trade direction, and the duration between trades in explaining price dynamics and volatility using an Asymmetric Autoregressive Conditional Duration model applied to intraday transactions data. Our results suggest that volume, direction and duration are important determinants of price dynamics, while duration is also an important determinant of volatility. However, the impact of volume and direction on volatility is marginal after controlling for duration, and the impact of volume on volatility appears to be confined to periods of infrequent trading. 相似文献
33.
This paper investigates whether there is a different impact from changes in ‘new’ and ‘old’ economy stock valuations on private investment for seven OECD economies. A vector autoregressive model is estimated for each individual country, using quarterly data over the period 1990–2000. It is found that the impact from changes in valuations of new economy stocks to investment is roughly the same in North America and in the United Kingdom as in continental Europe. By contrast, the impact from changes in old economy stock valuations on investment is, in general, larger in North America and in the United Kingdom than in continental Europe. Finally, the results suggest that in continental Europe the impact on investment from changes in the valuation of new economy stocks is bigger than for old economy stocks, whereas for North America and the United Kingdom, the impact is more similar. 相似文献
34.
Peter Docherty Harry Tse Ross Forman Jo McKenzie 《The Journal of economic education》2013,44(4):370-382
The authors report on the design and implementation of a pilot program to extend the principles of intensive writing outlined by W. Lee Hansen (1998), Murray S. Simpson and Shireen E. Carroll (1999) and David Carless (2006) to large macroeconomics classes. The key aspect of this program was its collaborative nature, with staff from two specialist units joining forces with two economics instructors to provide students with significant resources and direction in a short program of writing, embedded within an intermediate macroeconomics subject at the University of Technology, Sydney (UTS). The objective was to test potential strategies and to identify points of improvement for a more intensive program of writing development at the next stage of implementation. The authors review the literature on student writing and associated assessment issues, outline the central design features of the UTS program, and take a closer look at the centerpiece of a strategy for overcoming writing problems: a series of writing workshops targeted at two related assignments within the intermediate macroeconomics course. 相似文献
35.
Chung-Yi Tse 《Journal of Economics》2008,93(2):177-202
When there is not one obvious candidate technology, entrants to a new industry face a non-trivial choice between longer lead
times in the setting up of production and a better chance that the technology could successfully deliver. This paper shows
how this tradeoff may yield gradual diffusion. Diffusion is more protracted in industries where learning opportunities are
more bountiful. The equilibrium minimizes the long-run equilibrium price, just as in the standard Marshallian model of a competitive
industry. The market structure does not seem to affect the rate of diffusion with the monopoly choosing the same rate of diffusion
that prevails in competition despite restricting output.
相似文献
36.
Valeria Martinez Yiuman Tse Jullavut Kittiakarasakun 《Journal of Economics and Finance》2013,37(2):293-307
In recent years there have been reports of excessive price volatility and value differences between prices of exchange traded funds (ETFs) and their underlying asset values. The objective of our study is to shed light on these facts by taking a closer look at the relationship between return volatility, trade size, and order imbalance for international ETFs. Even after controlling for order imbalance, volume as represented by number of trades in one of five trade size categories continues to have a significant and predominantly positive impact on volatility. Both trade size and order imbalance are important determinants of the Japan and China ETFs’ price volatility. 相似文献
37.
Wendy W. N. Wan Chung-Leung Luk Oliver H. M. Yau Alan C. B. Tse Leo Y. M. Sin Kenneth K. Kwong Raymond P. M. Chow 《Journal of Business Ethics》2009,88(Z1):185-196
On one hand, Chinese consumers are well known for conspicuous consumption and the adoption of luxury products and named brands.
On the other hand, they also have a bad reputation for buying counterfeit products. Their simultaneous preferences for two
contrasting types of product present a paradox that has not been addressed in the literature. This study attempts to present
an explanation of this paradox by examining the effects of traditional Chinese cultural values and consumer values on consumers’
deontological judgment of pirated CDs and the amount of social benefits they perceive they gain from them. We interviewed
300 Hong Kong Chinese consumers, and found that face consciousness increased materialism and risk aversion, thereby producing
a favorable deontological judgment of pirated CDs. Face consciousness also has a direct effect on the amount of social benefits
perceived in pirated CDs. Both favorable deontological judgment and perceived social benefits contributed to a strong intention
to buy pirated CDs. The results are discussed in a cultural perspective. 相似文献
38.
Bowers Helen M. Moore Norman H. Tse K.S. Maurice 《Review of Quantitative Finance and Accounting》2000,15(3):195-216
This paper shows that under certain conditions a firm's decision concerning the optimal medium of exchange to use in acquiring another firm is related to the decision of which source of capital should be used to finance long-term projects. An example of this type of interaction occurs when the firm's only source of financing a positive net present value project is an equity issue. In a Myers and Majluf (1984) world of asymmetric information the value maximizing strategy for the firm is to forego the public equity offering and instead use a stock offer to acquire a firm possessing financial slack. The process is modeled using an extension of the Myers and Majluf (1984) model and demonstrates how the acquisition alternative allows managers to separate the signals regarding the investment and financing decisions. Including net pension assets into our measure of financial slack, we provide empirical supports for the ability of the extended model to explain observed merger activity. 相似文献
39.
Consumer satisfaction has been defined as an objective or subjective state variable. This paper presents an emerging view where satisfaction is construed as a subjective process of consumption experience. We examine studies that have explicitly or implicitly explored the conceptual and empirical domain of satisfaction as a multidimensional process of interactions among mental and overt behavior activities unfolding after purchase over time. Using a dynamic, six-dimension process framework we integrate previous, seemingly disjoint research efforts, and derive related research propositions. Issues in researching satisfaction as a process are also discussed. 相似文献
40.
Hali J. Edison 《Journal of International Money and Finance》1985,4(3):361-372
The purpose of this paper is to test the hypothesis of purchasing power parity. The basic methodology is to start by estimating a general distributed lag equation relating the excchangr rate to its own past and to current and past relative price levels. Successively more restricted version are then proposed and tested against the general model. Two interesting facts come out of this. One is that the Proportionality restrictin is not supported by the data and the other is that all the models estimated by Frenkel (1978) are rejected in favor of less restricted models. 相似文献