Revisiting Perceived Risk in the Context of Online Shopping: An Alternative Perspective of Decision‐Making Styles

This study attempts to elaborate the consequences of perceived risk by taking the moderating effects of decision‐making style (i.e., involvement vs. heuristics) into account in the context of online shopping. The integrated model is tested repeatedly in diverse purchasing situations with different Web presentation styles and product categories. The findings indicate that perceived risk toward the Web site/product influences purchasing intention through cognition‐ and affect‐based attitudes. Moreover, the moderating effects of decision‐making style on the relationship between perceived risk and its consequences are conditional. Since perceived risk appears very crucial for promoting online shopping, the results of this study may provide an influential reference for academicians and practitioners when considering the role of perceived risk in Web site marketing. © 2012 Wiley Periodicals, Inc.     

打造长江上游的交通枢纽访重庆市交通委员会副主任、新闻发言人滕宏伟

2010年，重庆高速公路将建成“二环八射”，总里程达2000公里，重庆交通将由此提速10年。2020年，重庆将实现40个区县全部都通高速公路，最远区县政府所在地到重庆主城只需4小时。[编者按]     

The sexual division of care in mainland China and Hong Kong

The aim of this paper is to explore the extent to which the sexual division of domestic labour in Hong Kong and mainland China is influenced by traditional Chinese values and contemporary political and economic factors. It discovers that women in these two societies assume far more caring responsibilities than men. This is similar to women in traditional Chinese society. An important reason is that the political and economic conditions in Hong Kong and mainland China favour the reproduction of traditional Chinese values. Hence it can be argued that the unequal division of domestic labour between men and women will continue as long as the political and economic conditions are unfavourable to women. Le but de cet article est d’explorer jusqu’à quel point les valeurs chinoises traditionnelles et les facteurs politiques et économiques contemporains influencent la division sexuelle du travail domestique à Hong Kong et en Chine. Cet article a découvert que, dans ces deux sociétés, les femmes ont beaucoup plus de reponsabilités sociales que les hommes. Ceci est similaire à la société chinoise traditionnelle. Une raison importante est que les conditions politiques et économiques à Hong Kong et en Chine favorisent la reproduction des valeurs chinoises traditionnelles. On peut donc dire que la division inégale du travail domestique entre les hommes et les femmes continuera tant que les conditions politiques et économiques seront désavantageuses pour les femmes.     

Clusters, industrial policy and firm strategy

Increasingly, govemments and firms take clusters of related business as a starting point to formulate policies and strategies, which aim at enhancing innovation. There appear, however, to be quite some different conceptions of what clusters are, In the first part of this paper and attempt is made to clarify the cluster concept by defining the relevant dimensions of clusters. In the second part, each of these dimensions is related to possible industrial policies and firm strategies. Practical illustrations will be given from different European countries and firms. The dimensions and related policies and strategies form a menu of possibilities from which actors can choose those elements that are most relevant for their specific situation. Thus, tailor-made policies and strategies can be devised and implemented.     

A Dynamic Analysis of the Global Timber Market under Global Warming: An Integrated Modeling Approach

We develop a dynamic integrated modeling approach to identify the effect of global warming on the global timber market. The Timber Supply Model (TSM) 2000, BIOME 3, and Hamburg are used as suitable economic and ecological models. In particular, the TSM 2000 is developed to incorporate important additional components in the global timber market. We estimate dynamic ecological change based on the simulation results of BIOME 3 using Hamburg and linearity assumptions about change in climate and ecosystem. The projected dynamic ecological changes are run through the TSM 2000 to identify the effects of dynamic climate change on the timber market. We simulate a non-climate change base scenario and a climate change scenario of the TSM 2000, and we conclude that global warming has a positive effect on the global timber market through an increase of timber production causing stumpage prices to be lower than they otherwise would have been. In the welfare sense, we also identify that global warming is economically beneficial to society through the global timber market.     

民间石雕“复活”梁山好汉

怀抱酒坛、豪爽不羁的“花和尚”鲁智深，一路狂奔的“神行太保”戴宗，雪夜上梁山的林冲，手托酒盘、笑里藏刀的孙二娘……在民间石雕艺人牟登德的手中，这些“大碗喝酒、大块吃肉”的梁山好汉们一一“复活”。13年光阴里，牟老汉情有独钟，心无旁骛，雕刻成了108个梁山好汉，让古老的石雕民间艺术焕发出熠熠光彩。[编者按]     

Asset Price Spillover,Collateral and Crises: with an Application to Property Market Policy

This paper studies the impact of land supply elasticity and land use regulation. For sufficiently adverse shocks constrained entrepreneurs liquidate their assets for debt repayment. This effect can spillover to the residential property market. A crisis occurs when households are forced to default on their mortgages as well. While both converting costs and land use regulation tend to magnify the effect of adverse shock, the former generates an asymmetric effect between a positive and a negative shock on the land market, and the latter tends to raise the likelihood of a crisis, by raising the threshold value of liquidation.

Structural models of corporate bond pricing with maximum likelihood estimation

This paper empirically examines the proxy, volatility-restriction (VR) and maximum likelihood (ML) approaches to implementing structural corporate bond pricing models, and documents that ML estimation is the best among the three implementation methods. Empirical studies using either the proxy approach or the VR method conclude that barrier-independent models significantly underestimate corporate bond yields. Although barrier-dependent models tend to overestimate the yield on average, they generate a sizable degree of underestimation. The present paper shows that the proxy approach is an upwardly biased estimator of the corporate assets and makes the empirical framework work systematically against structural models of corporate bond pricing. The VR approach may generate inconsistent corporate bond prices or may fail to give a positive corporate bond price for some structural models. When the Merton, LS, BD and LT models are implemented with ML estimation, we find substantial improvement in their performances. Our empirical analysis shows that the LT model is very accurate for predicting short-term bond yields, whereas the LS and BD models are good predictors for medium-term and long-term bonds. The Merton model however significantly overestimates short-term bond yields and underestimates long-term bond yields. Unlike empirical studies in the past, the Merton model implemented with ML estimation does not consistently underestimate corporate bond yields.     

碳纤维片材在桥梁加固中的应用

文章讨论碳纤维片材在工程中应用的问题,余绍桥梁加固中运用碳纤维片材的几种方法,并以工程实例来介绍碳纤维片材的应用.     

机构投资者的ESG偏好对绿色创新价值的影响

对于具有价格预测优势的机构投资者,绿色投资在发达资本市场上,是其长期价值投资的主要方式。通过我国机构投资者2010—2020年对绿色创新公司的投资研究发现,机构投资者对以环境、社会责任和公司治理(ESG)为标志的绿色创新企业,存在投资偏好。一方面,高ESG表现公司不仅存在历史更高的绿色创新能力,还存在当期对绿色创新的较高投入。另一方面,在机构绿色创新投资偏好下,机构投资者会容忍具有绿色创新能力的上市公司更低的当期超额收益率。对比民营企业,机构投资者对高ESG表现的国有企业积极性更高,进一步研究不同的融资约束和媒体噪声对机构投资者的绿色创新偏好的影响发现,在控制融资约束和媒体噪声的情况下,机构投资者的绿色创新投资偏好依然存在。基于此,就充分发挥机构投资者绿色投资作用、提高企业绿色创新意识、完善ESG信息建设方面提出相关建议。