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71.
Summary. In models of active learning or experimentation, agents modify their actions to affect the distribution of a signal that
provides information about future payoffs. A standard result in the experimentation literature is that agents experiment,
if at all, to increase information. This finding is a direct consequence of Blackwell's theorem: one experiment is more informative than another
if and only if all expected utility maximizers prefer to observe the first. Blackwell's theorem presupposes, however, that
the observed signal only conveys information and does not directly affect future payoffs. Often, however, signals are directly
payoff relevant, a phenomenon that we call signal dependence. For example, if a firm is uncertain about its demand and uses today's sales as a signal of tomorrow's demand, then that
signal may also directly affect tomorrow's profit if the good is durable or if consumers form consumption habits. Datta, Mirman and Schlee [9] and
Bertocchi and Spagat [4] show that, if the signal is payoff relevant, experimentation may indeed reduce information. Here
we show that, despite the inapplicability of Blackwell's Theorem, agents always experiment to increase information if the
information structure is noiseless: given the true value of the unknown parameter, the signal realization is deterministic. We then apply our framework to analyze
Lazear's [16] model of retail clearance sales, a model with both signal dependence and noiseless information.
Received: February 19, 1999; revised version: August 11, 1999 相似文献
72.
Review of Industrial Organization - In this paper, I analyze the effect of the merger between American Airlines (AA) and US Airways (US) on market price and product quality. I use... 相似文献
73.
Indian business groups: Evolution and transformation 总被引:9,自引:8,他引:1
Ben L. Kedia Debmalya Mukherjee Somnath Lahiri 《Asia Pacific Journal of Management》2006,23(4):559-577
Business groups are an important constituent of many emerging economies. In this paper, we focus on the evolution and transformation
of Indian business groups (IBGs) over two economic eras — pre-reform era (pre 1991) and reform era (post 1991). To this end,
we analyze IBG behavior during these periods, and explain the implications of such behavior on IBG value creation. Our conceptualization
of IBG dynamics utilizes the perspectives of product relatedness and institutional relatedness, and undertakes a broad review of the extant literature.
Ben L. Kedia holds the Wang Chair of Excellence in International Business and is Director of the Wang Center for International Business Education and Research (CIBER) at The University of Memphis, USA. His research interests include cross-cultural and comparative management, and international business strategy. Dr. Kedia has served as Chair of the International Management Division of the Academy of Management and President of the Academy of International Business–U.S. Southwest. His research has been published in Academy of Management Review, Journal of World Business, Management International Review, etc. He received his PhD from Case Western Reserve University. Debmalya Mukherjee is a doctoral candidate in strategic management at The University of Memphis, USA. His research interests include international business strategy, emerging economies and virtual organizations. Debmalya has presented research papers at various national and international conferences. He received his MBA from Ohio University. He has served in a team consulting project in Italy. Prior to coming to the United States, Debmalya worked as a lawyer at the Calcutta High Court, India. Somnath Lahiri is a doctoral candidate in management at The University of Memphis, USA. His research interests include international outsourcing, emerging economies, and global business strategy. Somnath’s writings have appeared in European Business Forum and he has presented research papers at various conferences in the United States and abroad. He has also co-authored a book chapter on BRIC economies. Prior to coming to the United States, he served as a professional engineer for several years in India, both in the private- and government sector, where he specialized in contract handling and project monitoring. 相似文献
Somnath LahiriEmail: |
Ben L. Kedia holds the Wang Chair of Excellence in International Business and is Director of the Wang Center for International Business Education and Research (CIBER) at The University of Memphis, USA. His research interests include cross-cultural and comparative management, and international business strategy. Dr. Kedia has served as Chair of the International Management Division of the Academy of Management and President of the Academy of International Business–U.S. Southwest. His research has been published in Academy of Management Review, Journal of World Business, Management International Review, etc. He received his PhD from Case Western Reserve University. Debmalya Mukherjee is a doctoral candidate in strategic management at The University of Memphis, USA. His research interests include international business strategy, emerging economies and virtual organizations. Debmalya has presented research papers at various national and international conferences. He received his MBA from Ohio University. He has served in a team consulting project in Italy. Prior to coming to the United States, Debmalya worked as a lawyer at the Calcutta High Court, India. Somnath Lahiri is a doctoral candidate in management at The University of Memphis, USA. His research interests include international outsourcing, emerging economies, and global business strategy. Somnath’s writings have appeared in European Business Forum and he has presented research papers at various conferences in the United States and abroad. He has also co-authored a book chapter on BRIC economies. Prior to coming to the United States, he served as a professional engineer for several years in India, both in the private- and government sector, where he specialized in contract handling and project monitoring. 相似文献
74.
东亚因其迅速发展的国际生产网络而得到经济学界的广泛瞩目。本文在整理相关理论和实证文献的基础上,通过对人均收入水平的分析提出了东亚区域内广泛存在技术梯度差异的现实。作者根据Jones等人提出的国际垂直分割理论,建立增广引力模型,在区分零部件贸易和传统贸易的情况下,利用联合国贸易统计面板数据,对东亚垂直分工网络的技术结构进行了细致梳理。结果显示,近年来日本在核心部件上的作用有所下降,而四小龙实现了技术升级,作用得到较大的提升。作为东亚生产共享网络中的重要一极,中国同四小虎之间呈现出较强的互补性而非替代性。 相似文献
75.
The increase in offshore outsourcing of information technology-enabled business processes has renewed scholarly attention to better understand the dynamics of service provider firms. In this study, we examine how offshore outsourcing service providers’ internal and relational resources and capabilities jointly predict their economic performance. Analysis of data collected from a sample of 105 Indian service providers suggest that rent generation from firm-specific, idiosyncratic resources is positively moderated by the level of management capability possessed by such firms. Theoretical and managerial implications of the findings are discussed and avenues of future research are offered. 相似文献
76.
We applied a capabilities view as the theoretical underpinning to investigate the integrative role of orientation (IO) and the strategic use of social media (SSM) on a firm’s crowdfunding campaign success (CFS). We suggest that IO promotes a firm’s ability to succeed with crowdfunding campaigns, and that this relationship is mediated by the SSM. To check our contentions, we surveyed professionals from 322 firms that conducted crowdfunding campaigns. For IO and SSM, we used preexisting scales, while for CFS we created and validated our own seven‐item scale. We found that IO alone does not fully account for CFS, but rather its effect is based on a firm’s ability to SSM. Our findings contribute to the literature on strategic entrepreneurship, media strategy, and public policy. 相似文献
77.
Stem cell innovation has enabled the growth of a global market of treatments for a wide range of diseases but most of this market operates outside the domain of orthodox forms of innovation governance. Much of the analysis of this issue has adopted a supply side perspective informed by the values of the orthodox scientific model of biomedical innovation, arguing that national and transnational regulation has failed to impose appropriate standards on the ‘illicit’ supply of stem cell treatments. In contrast, this paper shows how and why the analysis of global stem cell innovation governance must incorporate the market and health consumer demand into the conceptual framework. Central to the argument is the role of innovation models in mediating the relationship between demand and supply in the global market of new stem cell treatments. Different models of scientific and medical innovation mediate that relationship in different ways and, in jurisdictions where health consumer demand is frustrated, may result in parallel political demands for change in stem cell innovation governance. Such demands are likely to be resisted by the dominant scientific model, producing a further response from health consumers and a continuing dynamic in the political economy of stem cell treatments. 相似文献
78.
Exploiting a rich panel data child survey merged with administrative records along with a pseudo-experiment generating variation in the take-up of preschool across municipalities, we provide evidence of the effects on non-cognitive child outcomes of participating in large scale publicly provided universal preschool programs and family day care vis-à-vis home care. We find that, compared to home care, being enrolled in preschool at age three does not lead to significant differences in child outcomes at age seven no matter the gender or the mother's level of education. Family day care, on the other hand, seems to significantly deteriorate outcomes for boys whose mothers have a lower level of education. Finally, longer hours in non-parental care lead to poorer child outcomes. 相似文献
79.
The elimination of quotas in textiles and apparel poses new threats from import competition. To survive, the sectors need to find least-cost methods of production. The production–cost structure of the U.S. textile and apparel industries is examined using a dual cost framework. A translog cost function is used to measure substitution elasticities between inputs, scale economies, and the nature of technical change. The scope for factor substitution in textiles remains limited with all substitution elasticities being less than unity. Labor and materials are complements in apparel production, but there is evidence of substitution between capital and labor. The rate of technical change is higher in textiles than in apparel. Given the intense import competition from low wage countries, in both industries, technical progress is labor saving. Overall, economies of scale are larger in apparel; however, scale economies have continued to increase in textiles.This research was supported by a grant from the National Textile Center. 相似文献
80.
Kavita Datta Cathy McIlwaine Yara Evans Joanna Herbert Jon May Jane Wills 《英国劳资关系杂志》2007,45(2):404-432
This article examines the means by which low‐paid migrant workers survive in a rapidly changing and increasingly unequal labour market. In a departure from the coping strategies literature, it is argued that the difficulties migrant workers face in the London labour market reduces their ability to ‘strategize’. Instead, workers adopt a range of ‘tactics’ that enable them to ‘get by’, if only just, on a day‐to‐day basis. The article explores these tactics with reference to the connections between different workers’ experiences of the workplace, home and community, and demonstrates the role of national, ethnic and gender relations in shaping migrant workers’ experiences of the London labour market and of the city more widely. 相似文献