Developing a quality prioritization procedure for IPTV service

This study developed a procedure to determine the quality priorities of the internet protocol television (IPTV) service. First, a set of key elements of IPTV service quality was developed based on a literature review and a focus group interview. Second, analytic hierarchy process and the Kano model were applied to identify the requirements of experts and customers, respectively. The experts measured the importance and difficulty of management, whereas the customers measured the satisfaction level and importance of each quality element. Third, quality priorities were calculated through the entropy principle and scenario-based analysis. The proposed procedure is illustrated with a case study of a telecommunications company in Korea.     

Valuing the Redevelopment Option Component of Urban Land Values

This study draws from the redevelopment, real option, and urban spatial growth literatures to explore the spatial dynamics of the components of house prices. More specifically, the paper proposes that the capitalized value of the option to redevelop housing at the property level can be estimated by incorporating the likelihood of exercising the redevelopment option (the probability of redevelopment) into spatial and nonspatial hedonic house price models. Accordingly, option values are estimated for properties across the spectrum of the housing life cycle. Results from the study reveal a substantial level of spatial variation and clustering in the predicted option values, indicating that location is a major determinant of redevelopment and real option values. Furthermore, the results provide new evidence in support of the theoretical construct that properties purchased for immediate redevelopment are only valued for the underlying land.     

Turning corporate environmental ethics into firm performance: The role of green marketing programs

In this study, we develop a better understanding of the mechanisms by which corporate environmental ethics influences performance through the adoption of substantive actions. The empirical results of a moderated mediating analysis show that firms with higher environmental ethics are more likely to implement green marketing programs, consisting of the green production, pricing, distribution, and promotion programs and then improve firm performance. It is also observed that closure mechanism negatively moderates the mediation effect of green marketing programs because it leads to low trust and unwillingness to internal cooperation. These findings indicate that the value of corporate environmental ethics could not be determined in a vacuum, both strategy and people do matter when pursuing environmentally driven performance.     

Career concerns,shareholder monitoring and investment efficiency: From the perspective of compensation contract rigidity in Chinese SOEs

This paper presents theoretical analysis of how career concerns and shareholder monitoring affect chief executive officer(CEO) agency costs. We investigate inve...     

公司创业投资对企业价值创造的影响机制——基于CVC项目异质性视角

公司创业投资(Corporate Venture Capital,CVC)是企业价值的重要来源。本文基于CVC项目异质性视角,探讨控股与非控股CVC项目治理结构下CVC投资组合多元化与企业价值关系的差异以及组织冗余调节效应的差异。通过2000~2012期间沪深主板78家上市公司CVC项目投资的686个创业企业样本组成的非平衡面板数据的实证研究发现:非控股型CVC项目治理结构下,CVC投资组合多元化与企业价值之间呈"U形"关系,组织冗余对两者关系具有积极的调节作用。     

Corporate Multinationality and Acquirer Returns

This paper provides evidence on how corporate multinationality from the perspective of acquiring firms relates to M&A returns. Using multivariate regressions and a large dataset of over 6,000 M&As (both cross-border and domestic) by UK firms during 1987 to 2014, the paper finds multinationality to be associated with significantly higher short-run announcement returns and long-run operating performance. While the multinationality premium (higher M&A returns for multinationals) persists over time, it seems to be restricted to firms with superior resource/managerial capabilities and minimal agency problems. Finally, the multinationality premium appears to be driven by foreign acquisitions into advanced economies. The results are robust to correcting for sample selection bias and controlling for several firm and deal characteristics, as well as accounting for firm-, industry-, and year-fixed effects. Collectively, the findings imply that multinationality could be a source of value creation for acquiring firms, particularly in foreign acquisitions, which tend to be complex, and, thereby, require superior managerial capabilities to succeed.     

粮库机电设备招投标流程

机电设备招投标一般是由甲方委托所指定的公共交易平台代为发起,在所需条件范围内设置标书内容和所需交易条件,依照法律程序所规定的程序内容,对多个参与方提交的技术方案、报价、响应条件进行评审,从中选择最接近中标单位条件的一种交易方式。本文主要针对各企业机电设备招投标事项进行归纳总结。     

When Research Meets Development: Antecedents and Implications of Transfer Speed

This paper focuses on the organization of new product development in large, R&D‐intensive firms. In these firms, research and development activities are often separated. Research is conducted in dedicated research projects at specialized research labs. Once research results are achieved by research projects, they are transferred to business units for further development and commercialization. We investigate the speed whereby research projects transfer their first research results to business units (hereafter: transfer speed). In particular, we analyze the antecedents and performance implications of transfer speed. Based on data of 503 research projects from a European R&D intensive manufacturing firm, our results suggest that a fast transfer speed (as measured by the time it takes for a research project to develop and transfer its first research result to business units) is associated with a better research performance (as measured by the total number of transfers the research project generates). Moreover, we find that different types of external R&D partners—science‐based and market‐based partners—play distinct roles in speeding up project first research transfers. While market‐based partnerships (i.e., customers and suppliers) generally contribute to a faster transfer of first research results, science‐based partnerships (i.e., universities and research institutions) only speed up first research transfers of technologically very complex projects. Our results also show that early patent filings by research projects accelerate first research transfers.     

A bootstrap test for jumps in financial economics

An i.i.d. bootstrap is applied for the ratio test of Barndorff-Nielsen and Shephard (2006) for jumps in jump diffusion processes. Asymptotic validity is established for the bootstrap test both under the null of no jump and under the alternative of jumps. Finite sample simulation shows that the bootstrap test has more stable size than the ratio test of Barndorff-Nielsen and Shephard (2006).