Testing alone is insufficient

Review of Economic Design - The fear of contracting a serious illness caused by a contagious disease limits economic activity even after reopening. Widespread testing alone will not alleviate this...     

Value co-creation: concept and measurement

The surge in academic and practical interest in the topic of value co-creation (VCC) highlights an equivocal understanding of its conceptual boundaries and empirical constituents. Our search of the diverse scholarly literature on VCC identified 149 papers, from which we extract the two primary conceptual VCC dimensions of co-production and value-in-use. Though the combination of these two distinct dimensions is theoretically necessary to describe VCC, 79% of the studies in our dataset consider only one or the other. Such underlying theoretical ambiguity may explain conflicting results in earlier studies and motivates our effort to offer four contributions to the literature. First, we conduct a rigorous review, integrating existing work to expose the theoretical core of VCC. Second, we utilize the results from our review to isolate the two main theoretical dimensions of VCC and expose the three conceptual elements which underlie each dimension. Third, we apply our theoretical findings to derive empirical measurement constructs for each dimension. Fourth, we refine, analyze, and test the resulting measurement index in an investigation into consumer satisfaction.     

Indian Monetary Policy in the Time of Inflation Targeting and Demonetization

This paper provides a narrative of Indian monetary policy since the North Atlantic Financial Crisis (NAFC) in the mid‐2008 till the current period. The period 2009–2013 was dominated by the joint monetary and fiscal stimuli of the Indian authorities prompted by the NAFC. These, along with some structural shocks and a hands‐off attitude in forex market intervention, could have had their role in rising inflation and external account instability (leading up to the taper tantrum episode). In such a backdrop, after considerable discussion during 2013–2014, a Monetary Policy Framework Agreement was signed between the Government of India and the Reserve Bank of India on February 20, 2015 that formally adopted flexible inflation targeting (IT) in India. While the IT regime so far has coincided with significant reduction in inflation in India, the atmosphere has been benign. Now that fuel prices have started moving in the north‐east direction, the government has proposed a revised framework for the minimum support price in the Union Budget for 2018–2019 and fiscal slippages have started happening, it remains to be seen whether IT can wither more rough weather in the days to come. Finally, in recent years, Indian monetary policy has been dominated by two significant events: the emergence of significant deterioration of Indian public sector balance sheets, and the demonetization episode in November 2016. Monetary policy in both of these periods wrestled with fashioning an appropriate strategy for managing the impossible trinity.     

哈佛商学院更换领导人

董事会的一个重要的职责是决定CEO的人选，为什么他们挑选的总是错误的领导人呢？挑选首席执行官是任何公司最重要也是最具风险的大事。然而很少有董事会理解这个过程，他们通常是躲在董事会紧闭的大门后面秘密商定。     

Auroville: A spiritual-social experiment in human unity and evolution

Inspired by the ideas of Sri Aurobindo and the Mother, an international ‘city of the future’ was set up in 1968 in southern India. Auroville's mission is “to be a universal town where men and women of all countries are able to live in peace and progressive harmony above all creeds, all politics and all nationalities. The purpose of Auroville is to realise human unity”. The ‘Matrimandir’ at the centre of the township is the symbolic and spiritual core of the city. This vibrant community of 1800 residents today has been experimenting and innovating for transformation that has three aspects: the spiritual, the social and the ecological. The origin of this fascinating experiment, the design of the township, the ecological restoration and greening carried out, the social and economic organisation of the Auroville community, its governance and its interaction with the neighbouring villages are described here. The manner and the extent to which the community attempts to live by its guiding ideas and principles are discussed. Finally, the reasons that make Auroville a radically transformative and futuristic initiative are discussed.     

哈佛商学院公司治理面临三大新挑战

近年来，董事会在各方面的作为都有所改善，但其进步的速度还远远赶不上解决问题的需求。人们以为金融危机会带来破坏性的影响，而这种担忧正随着经济的逐步回暖而渐渐消退，然而其问暴露出的种种制度问题与结构缺陷，我们不得不深入思考，引以为戒。面对21世纪新型的公司治理要求，我们必须重新思考改善治理结构的根本途径。其中，有三项重要内容值得关注：     

Context-general and Context-specific Determinants of Online Satisfaction and Loyalty for Commerce and Content Sites

We use the context-general and context-specific factor approach to examine the generalizability of satisfaction and loyalty models across two disparate online contexts—online retailing and content site browsing. Our conceptual models include the moderating effects of user-characteristic Web expertise, besides main effects of Web site factors and Web expertise. Results indicate that satisfaction and loyalty judgments are sensitive to both context-general and context-specific determinants, as well as to some interactions between them. Among context-general determinants, ease of use and customer service are positively related to satisfaction, Web community to loyalty, and Web expertise to both satisfaction and loyalty. Flow, a context-specific determinant, has a significant positive effect on satisfaction alone; security affects loyalty alone; and fulfillment/reliability and information quality are significant predictors of both satisfaction and loyalty. The results show that Web expertise moderates the effect of ease of use on satisfaction. The study contributes to marketing theory and practice by identifying satisfaction and loyalty mechanisms that are potentially generalizable across the two online contexts and providing a guiding framework for simultaneous consideration of context-specific and context-general factors in future research.     

International competitive strategy choices: comparing firms in China and India

This study investigates the types of international competitive strategies (ICS) followed by Chinese and Indian firms. Using firm-level primary data, the contribution analyses the factors that affect ICS choices and whether these factors differ between the two countries. It argues that firms' resources and capabilities influence firms' propensity to choose a specific ICS and that the strategies differ in relation to firms' location, sector and destination market as well.