Quantities vs. prices: monopoly regulation without transfer under asymmetric demand information

Economics of Governance - This paper examines the optimal monopoly regulation without transfer based on Basso, Figueroa and Vásquez (Rand J Econ 48(3):557–578, 2017), which compare the...     

Entrepreneurial firms’ network competence,technological capability,and new product development performance

Successfully developing new products is critical to an entrepreneurial firm’s continued success. Based on the resource management model, this study aims to answer the key research question: how entrepreneurial firms leverage network competence and technological capability to enhance their new product development (NPD) performance in a turbulent environment. Using data collected from 134 entrepreneurial firms in China, we investigate the performance effects of network competence and technological capability, and the moderating effects of technological turbulence and market turbulence. Our findings show that network competence has a positive impact on NPD performance and technological capability plays a mediating role between network competence and NPD performance. Technological turbulence enhances the performance effects of network competence and technological capability; market turbulence advances the performance effect of network competence, but fails to exert significant negative impact on that of technological capability. We discuss managerial implications of our findings and offer directions for future research.     

河南省文化产业发展的问题与对策探讨——基于旅游强省的视角

河南省旅游文化资源丰富,但与文化旅游强省还有一定的差距,只有通过旅游产业和文化产业的融合与渗透,才能实现旅游文化产业的创新、发展与壮大。河南省旅游文化产业存在发展模式守旧、产业化意识薄弱、旅游产品文化品位较低、宣传力度不够、管理体制不健全等问题。促进河南省旅游文化产业发展应突出主题,强调特色;深挖文化内涵,提升品位层次;加大对旅游业及相关产业的投入;拉长产业链条,提升综合增值力;加大宣传力度,提升外部影响;努力打造精品品牌;深化体制改革,健全市场体系。     

When Will Employees Embrace Managers' Technological Innovations? The Mediating Effects of Employees' Perceptions of Fairness on Their Willingness to Accept Change and its Legitimacy

Innovation researchers have thoroughly discussed how attitudes toward innovation influence people's intentions to use it. Most prior research tried to explore employees' acceptance of technological change through the lens of change initiators; however, using a manager's or the “great man's” perspective to explain change recipients' reaction to an innovation is indirect and peripheral. This paper argues that innovation should be studied directly from the perspective of change recipients, and that their perceptions of fairness in the wake of an innovation become a key factor in their willingness to accept it. More specifically, this paper argues that the recipients' fairness perceptions mediate the impact of innovation characteristics (operationalized as “usefulness” and “ease of use”) and implementation approach on their acceptance and belief in the legitimacy of the innovation. Two studies investigated the hypothesized mediating effects of procedural fairness/outcome fairness. The field study was conducted in a real‐world technological innovation setting, but raised questions about whether the causal effect of the mediating model really existed. The scenario study was conducted in a semi‐experimental condition which had high internal validity and guaranteed the cause–effect relation. Hence, the research design of the two studies complemented each other. The multiple regression analyses using the criteria proposed by Baron and Kenny were used to test the mediating models in the paper. Moreover, both Sobel tests and bootstrapping methods were used to guarantee that the mediating paths do exist among the independent variables, mediators, and the dependent variables. Both the field study and the scenario study showed that most of our hypotheses were supported, and change recipients had strong psychological reactions to the innovation and how the innovation was implemented in terms of fairness perceptions. Change recipients' perception of procedural and outcome fairness mediated the impact of innovation characteristics and implementation approach on their acceptance of the innovation and the perceived legitimacy of the innovation. The results disclosed that the change recipients' fairness perceptions were a key step for their sense‐making process of an innovation and its implementation. The results also indicated that studying change from recipients' perspective, as well as trying to understand their fairness perceptions, can broaden our knowledge about change. Other theoretical and practical implications were also discussed.     

Learning design and technology through social networks for high school students in China

The subject of design and technology was introduced to the curriculum for high schools in China 10 years ago. However, the teaching and learning of this subject have become difficult for both teachers and students because there is a lack of qualified teachers with design background to deliver this subject in a way to stimulate the learning interests of the students. This paper presents a research that is aimed at improving this situation by integrating the teaching and learning of design and technology within a computational environment as part of social networks sites. The purpose is to enable the collaboration among the students and interaction between teachers and students. In this research, a series of investigations were conducted, by following through several taught subjects in design and technology in prominent high schools in China. Based on these investigations, a theoretical framework for web-based design learning and teaching system in the style of social networking is developed, implemented and tested, emphasizing three features of design: innovation, collaboration, and interaction. This framework has been tested among high school students and teachers in a high school in Nanjing. It identified and validated necessary techniques and design features required to make an education-related social networking site effective and affective for the students and teachers. The results of this research indicated that social networking sites have significantly positive values in design education, especially for the collaboration and interaction on the subject of design and technology.     

Distribution contracts to support optimal inventory holdings under demand uncertainty

When suppliers produce products for which demand is uncertain, they face a problem of inducing downstream distributors to stock inventory levels that the suppliers prefer. This paper considers a wide array of alternative supply contracts, each of which consists of a mixture of constant per-unit wholesale prices, buy-back arrangements, and post sale payments contingent on sales made, such as revenue sharing or buybacks. We show that linear supply contracts specifying any combination of two of these three instruments can implement the vertical integrated outcome for a monopoly, thereby generating the supplier's preferred inventory configuration and price distribution. We extend our results to differentiated product oligopoly, demonstrating that each supplier obtains its preferred inventory configuration and price distribution, given the choices of its rival. Distributors choose optimal inventories from the suppliers' standpoint, even if suppliers do not know the distribution of demand uncertainty, and, given the perfect competition among distributors, all profits in the supply chain are captured by suppliers. Thus, suppliers are able to deal with demand uncertainty with remarkably little information about demand, and without the need to control dealer actions in detail. In particular, suppliers need not specify either dealer inventories or resale prices, but instead encourage distributors to order based on information in their possession and to set prices that generate desirable resale price dispersion.     

Adoption of professional management in Chinese family business: A multilevel analysis of impetuses and impediments

Building upon the market, institutional, and cultural perspectives, this paper identifies the major impetuses and impediments that affect the professionalization of Chinese family business at the environment, firm, and owner levels. Our integrative framework projects that whether a family business owner will adopt professional managers is largely determined by the relative strength of impetus factors and impediment factors. We then discuss the possible governance choices under different configuration of impetuses and impediments. This theoretical framework is expected to help set the momentum for further conceptual exploration and empirical study in this area.

中小企业技术创新的公司治理环境调查研究

公司治理结构与机制决定着中小企业技术创新行为。文章设计并发放包括中小企业公司章程、股权结构、三会状况、经营者、利益相关者五个方面内容的调查问卷,分析了中小企业技术创新的治理环境及其存在的主要问题,并为进一步提高中小企业公司治理水平提出政策建议,以更好地指导中小企业公司治理实践,进而提高中小企业技术创新的能力,培育持久竞争优势。     

东北地区产业结构变化对经济增长贡献的实证研究

东北地区是建国初期我国优先发展重工业的重点地区。改革开放后,我国进行经济体制改革,区域产业结构进行了相应调整,东北地区产业结构随之改变,失去了工业发展优势,经济增长速度放缓。经过产业结构调整,东北地区的产业结构趋向合理,促进了地区经济增长。     

Evaluating asset pricing models using the second Hansen-Jagannathan distance

We develop a specification test and a sequence of model selection procedures for non-nested, overlapping, and nested models based on the second Hansen-Jagannathan distance, which requires a good asset pricing model to not only have small pricing errors but also be arbitrage free. Our methods have reasonably good finite sample performances and are more powerful than existing ones in detecting misspecified models with small pricing errors but are not arbitrage-free and in differentiating models that have similar pricing errors of a given set of test assets. Using the Fama and French size and book-to-market portfolios, we reach dramatically different conclusions on model performances based on our approach and existing methods.