E-Business Transformation via Alliance Clusters

The number of firms using alliances as part of their corporate venturing or market entry strategies has surged over the past decade. Three common reasons cited for pursuing alliances are technology convergence, market access and alliance partners' complementary resources. This paper contrasts the alliance strategies of HP and IBM, two major competitors in electronic services (i.e. Internet-based 'e- service') businesses, using the Familiarity Matrix as a display tool to portray the strategies. Whereas the HP strategy is to attempt to establish its technology infrastructure as the standard e-services infrastructure on the Internet, IBM aims to position its IBM Global Services, rather than its technology, at the center of this ecosystem.     

科技与资本的结合——创新的动力

文章分析了科技投资与传统规模投资的异同,强调科技对资本的要求以及资本在科技类组织中的定位和困境,并着重分析了科技投资的风险性特征.在此基础上从治理的角度分析知识产权和资本产权的合与分,最后探讨了风险投资.     

西方媒体的滑铁卢?——拉萨骚乱之舆论反思

构建一种理性而包容的并有着独特民族文化价值内涵的民族主义,其必要的前提是中国的新闻媒介进一步自由和开放,只有在对于富有争议的重大事件获取充分而完整的信息的条件下,新闻受众才会从互相冲突的信息里学会独立思考,这种独立思考才能开创一种理性而反思的民族主义,而规避狭隘民族主义的爆发与危害.     

Pricing Options on an Asset with Bernoulli Jump-Diffusion Returns

The price movements of certain assets can be modeled by stochastic processes that combine continuous diffusion with discrete jumps. This paper compares values of options on assets with no jumps, jumps of fixed size, and jumps drawn from a lognormal distribution. It is shown that not only the magnitude but also the direction of the mispricing of the Black-Scholes model relative to jump models can vary with the distribution family of the jump component. This paper also discusses a methodology for the numerical valuation, via a backward induction algorithm, of American options on a jump-diffusion asset whose early exercise may be profitable. These cannot, in general, be accurately priced using analytic models. The procedure has the further advantage of being easily adaptable to nonanalytic, empirical distributions of period returns and to nonstationarity in the underlying diffusion process.     

Technical innovation and 3.5 mobile phone generation: Lessons from Korea

In 1996, the Korean mobile communication market was the first in the world to commercialize the code division multiple access (CDMA). Since then, the voice-based mobile phone market has continued to grow and has now reached near saturation. Having recognized the potential of the mobile data service as a new source of profit, telecommunication operators are scrambling to evolve 3.5 generation (3.5G) technology in order to lead market competition. Recently, the Korean 3.5G mobile telecom market has faced stiff competition from CDMA-based EVDO Rev.A and global system for mobile telecommunications (GSM)-based high-speed downlink packet access (HSDPA). In addition, the world's first wireless LAN-based wireless broadband internet (WiBro) service was commercialized in June, 2006. This paper reviews the current status of the 3.5G technology and analyzes the service standardization strategies from the viewpoint of technological evolutions. This paper also suggests implications for Korea's specific circumstances where different mobile telecom technologies complement and compete with one another. Korea's experiences may serve as important lessons for other countries or operators who try to introduce the 3G and look beyond mobile telecom technologies.     

Extracting the information: espionage with double crossing

This paper addresses two very old issues in human society: espionage and double crossing. Our major conclusion points out that there will be a serious over rewarding problem in the direct mechanism due to double crossing in espionage, and a competitive mechanism with a relative performance regime can possibly mitigate the over rewarding problem and still extract the information.      

从双语词典的编纂原则看《新英汉词典》的修订

从双语词典的评价标准看,<新英汉词典>历时25年的再版与修订过程体现了词典编篡原则,即双语词典编篡的科学性、信息性与实用性原则.     

External Monitoring of Property Appraisal Estimates and Information Asymmetry

Finance theory proposes that firms' cost of capital increases when market makers set wider spreads due to perceived higher information asymmetry across traders. Using a sample of UK investment property firms and controlling for firms' non-random selection of external monitors, we find evidence that market makers perceive information asymmetry across traders to be lower for firms employing external appraisers versus those employing internal appraisers. This evidence is consistent with liquidity-motivated traders being unable to overcome such reliability differences using asset value information from sources other than accounting. We fail to find a similar difference for firms employing Big 6 versus non-Big 6 auditors. Our findings contribute to the debate over the recognition of fair value estimates for long-lived tangible assets by documenting that reliability differences attributable to differential monitoring by appraisers can affect information asymmetry, and therefore firms' cost of capital.     

广东、全国经济增长周期波动对比分析

关于经济周期理论的研究早己有之并且现在还在不断的发展之中,从马克思的周期性经济危机理论到西方经济周期理论的各个阶段:古典经济学家的经济周期理论;传统经济周期理论;凯恩斯经济周期理论;当代西方的经济周期理论。这些理论分别是从不同的角度来阐述整个经济运行的周期过程     

The Changing Status of Collectivized and Private Agriculture under Central Planning

A bstract . Official perceptions of agriculture's role in economic development in the Eastern European Soviet-type economies have undergone significant alterations over the past several decades. These changes have been especially important in Hungary , a country well known for its unorthodox economic approaches. The modifications of status analyzed below have been consistent with the overall economic policy directives of the Communist party, including the current renewed emphasis on economic rationality, pragmatism , and the revitalization of the economic reform of 1968 .