From fantasy to reality: a study of pre-trip planning from the perspective of destination image attributes and temporal psychological distance

Pre-leisure trip planning is often lengthy, and its consideration shifts from fantasy to reality. Using overseas international cities as the destination, and through destination image attributes, this paper uses construal level theory and temporal psychological distance to understand the dynamics behind this shift. The shift is, by and large, as predicted by construal level theory. This study shows that tourists are consistently concerned about certain attributes as the shift unfolds. It is recognized that although tourism is dream packed, it is filled with risks and constraints. The shift also reflects tourists’ increasing needs to address practical issues and to fill their itinerary as a trip approaches. This study proposes that the destination information provision service offered by DMOs have to address the needs for tourists to ‘dream’ about a destination, allay their concerns, and help them schedule their itinerary at various phases of the pre-trip planning stage.     

The impact of sustained attention on labor market outcomes: The case of Ghana

In this paper, we go beyond traditional measures of cognitive abilities (IQ) in explaining labor market and social outcomes in developing countries. We exploit a rich dataset from Ghana that provides information on demographics, labor market outcomes, and a direct measure of cognitive ability along with other test scores to construct a measure of sustained attention. Our work is therefore related to the broader literature in psychology on the importance of executive function on individual behavior and outcomes. We find that, at least for the case of Ghana, after controlling for IQ and other covariates, higher levels of sustained attention are associated with higher educational attainment and a higher likelihood of being employed in a white‐collar job.     

Who likes jargon? The joint effect of jargon type and industry knowledge on investors’ judgments

We experimentally investigate how jargon affects investment willingness for investors with different industry knowledge, and whether such effects vary with good or bad jargon. We find that for investors without industry knowledge, jargon decreases investment willingness because it decreases understanding. However, for investors with some but low industry knowledge, jargon increases investment willingness because it increases perceived product premium. Such effects exist whether good or bad jargon is used. Finally, investors with high industry knowledge differentiate between good and bad jargon, and reduce investment willingness only when bad jargon is used. These findings have implications for regulators, managers, and investors.     

Firms’ heterogeneity,demand accumulating,and exchange rate pass-through

In this article, we study how the export behaviors of new and incumbent exporters differentially respond to exchange rate shocks. We establish a dynamic model, in which new exporters strategically charge a lower price than incumbent exporters to grow their customer base and increase future sales. The model predicts that new exporters adjust their prices more aggressively relative to their incumbent counterparts in response to exchange rate fluctuations. Using a transaction-level data set containing all Chinese exporters during the 2000–2009 period, we find supporting evidence for the model's predictions: new exporters adjust their price 1.5 times more than incumbent exporters. This, in turn, results in export quantities being less responsive to exchange rate shocks among new exporters. The result holds for a series of robustness checks. The findings imply that there are different degrees of exchange rate pass-through among new and incumbent exporters.     

Do major customers promote firms’ innovation?

This study examines whether and how a concentrated supply chain relationship affects a firm’s innovation decisions. Using data from Chinese listed firms in the manufacturing industry, we find that a concentrated customer base constrains a firm’s R&D investment, where a 1% increase in customer concentration is associated with a 0.011% decrease in R&D investment. To establish causality, we use the instrumental variable method, the reverse causality model, and the Granger causality test to re-examine the relationship and arrive at a consistent conclusion. Results from mechanism analysis suggest that a concentrated customer base constrains the internal fund availability and that the negative relationship between customer concentration and firms’ innovation is less pronounced for firms with more external financial support. Additional analysis reveals that the negative effect of customer concentration mainly affects R&D investment expenditure and that customer concentration also constrains innovation output in China. Overall, our paper reveals the dark side of close customer-supplier relationships and provides new insights into how supply chain relationships affect firms’ innovation decisions.     

5G毫米波焦点频段(26 GHz)全球研究动态与展望

阐述了5G系统毫米波焦点频段(26 GHz频段)全球频谱划分与现有应用概况，对全球研究动态与主要国家和地区的初步观点进行了梳理与总结。结合本频段现有无线电业务应用情况，重点剖析了开展频谱兼容性研究的关键场景、研究方法与主要挑战。最后，对5G系统有助于兼容共存的特征进行了归纳，为后续研究指明了方向。相关内容可为该频段5G频率规划提供借鉴。     

Impact of Foreign Maids on Female Labor Force Participation in Malaysia

Demand for foreign maids by households in Malaysia has increased rapidly and expected to affect female labor force participation. Simple comparisons of households with maids and those without suggest that maids raise the participation rate of their female employers by 26 percentage points. However, such comparisons are not directly comparable. Households employing maids differ in many ways from those that do not. When propensity score matching methods are used to estimate the treatment effect of having a foreign maid, the female labor force participation rate is estimated to be only 18 percentage points higher in 1993/1994 and 13 percentage points higher in 2004/2005. This decline over time in the treatment effect is not apparent when simpler but potentially biased methods are used. The small and declining impact of hiring maids suggests financial losses to the host households.     

深圳市FDI吸收能力的实证分析

改革开放30年来,外商直接投资(FDI)对中国经济的发展起着非常重要的作用。深圳特区是改革开放的窗口城市,其率先引入外商对中国大陆进行投资、兴办产业,给中国经济转型与发展提供了极其重要的经验。本文借鉴了Borenszteinetal的研究方法,采用深圳市1981~2010年数据对深圳市FDI吸收能力进行实证分析,提出了发展中遇到的主要问题,并对深圳特区未来的招商引资政策提供了相关建议。     

我国开放式基金股票配置策略与基金业绩间关系的实证研究

利用2005—2012年我国58只偏股型开放式基金的半年度数据,通过排序研究和建立平衡面板数据模型,对基金持股集中度和股票资产换手率与基金业绩的关系进行实证研究。结果表明,用赫芬达尔指数刻画的持股集中度与用基金累计单位净值增加值刻画的基金业绩显著正相关,股票资产换手率也与基金累计单位净值增加值显著正相关。提出:基金投资者可通过选择持股集中度和股票资产换手率高的基金来获得理想的投资收益。