我国家电产业出口发展战略浅析:比较优势还是竞争优势

近年来,我国家电产品出口发展态势良好,但是也存在一定的问题,而问题的解决则依赖于其出口发展战略的合理选择。通过分析比较优势和竞争优势两种发展战略对当前我国家电产业的适用性,笔者认为:一方面,要继续发挥我国的比较优势,更好实现我国家电产业的升级;另一方面,要以竞争优势为发展方向,把我国家电产业做大做强。     

The Effects of Trade Liberalization between Heterogeneous Countries on Endogenous Mergers

This paper examines the effects of trade liberalization on merger behavior. We endogenize merger choice among owners in an oligopolistic industry in asymmetric countries to analyze the consequences of trade cost reductions on competitiveness and welfare. In this context, the non‐cooperative game supports asymmetric market structures. We also find that trade liberalization is not necessarily pro‐competitive in countries with the competitive advantage, even if trade costs are completely abolished. Moreover, the tariff‐jumping explanation of international mergers does not necessarily apply. The welfare analysis shows that merger behavior can significantly alter any gains from liberalization. Countries should consider enforcing competition in regional agreements. Specifically, to avoid a reduction in domestic welfare following trade‐liberalizing reductions in trade costs, a high‐cost country's optimal policy may be to ban international mergers.     

Person–project fit and R&D performance: a case study of Industrial Technology Research Institute of Taiwan

This study examined the relation between the research and development (R&D) performance and the fit between a researcher's cognitive type and the task demand of the project that was implied in Wang, Wu & Horng's (1999) study. Three hundred and eighteen research projects completed by 205 project leaders in the 3 years were classified into Unsworth's four creativity types along two dimensions: (1) whether the research addressed an open- or closed-ended problem and (2) whether the project was assigned or actively sought by the researcher. Each researcher's personal traits were assessed using Myers–Briggs Type Indicator (MBTI) and Kirton's Adaptor–Innovator Scale (KAI). Results show that researchers with a conforming, feeling, or judging-type cognition performed better with assigned projects for solving closed problems. Those with an originality and intuitive-type cognition performed better on self-initiated projects for solving open-ended problems. Researchers with sensing-type cognition performed better with assigned projects for solving open-ended questions. Thus, a careful match between a researcher's cognitive type and the task demand of project is important for R&D management.     

A SEQUENTIAL SIGNALING MODEL OF CONVERTIBLE DEBT ISSUE AND CALL POLICIES

This paper offers a new explanation for why some risk‐averse firms may prefer to issue callable convertible debt. Here, the convertible debt issue and call policies are integrated into a unified financing policy. It is then shown that for firms with relatively low unsystematic risk, convertible debt issuance followed by an appropriate in‐the‐money signaling call policy reduces more unsystematic equity risk than equity, callable straight debt, or their combination. The model is modified to incorporate asymmetric information at the issue stage to explain the stock price behavior at announcements of convertible debt sales.     

Who buys newspapers in Spain? An analysis of the determinants of the probability to buy newspapers and of the amount spent

In this paper, we examine the determinants of household consumption of newspapers and the amount spent on their purchase by considering several explanatory variables related to household characteristics and the main household wage earner. Results show that the variables have quite similar effects on both the relative probability of buying newspapers and the amount spent. The key variables are the age and occupational status of the main wage earner, the number of household members, income and having to pay for the house, as well as a number of geographical variables. However, certain differences are also observed. The most important is the education of the main wage earner: while its effect on buying newspapers is very small (only those who did not complete primary education are less likely to buy), its effect on the amount spent increases with the level of education. As other studies of cultural goods and services consumption have suggested, education and occupational status are more relevant determinants than income.     

When Does Everyone Contribute in the Private Provision of Local Public Goods?

When does everyone genuinely contribute in the private provision of a local public good? We first introduce a monotonic condition to characterize the relationship between the structure of the network that underlie the noncooperative game of private provision of local public goods on the one hand, and the preferences of the agents on the other, showing that the monotonic condition is a sufficient and necessary condition of existence of a distributed Nash equilibrium (DNE) in which each agent exerts a positive amount of effort to provision of the public good (Theorem 1). We then study the number of equilibria, and, by using the monotonic condition, characterize the condition under which the DNE set is a singleton, a continuum, or null (Theorem 2). As it turns out, the structure of the network and the agents’ preferences jointly shape the effort profile in the provision of local public goods.     

Political and Institutional Factors in Regime Changes in the ERM: An Application of Duration Analysis

This paper analyses the functioning of the European Exchange Rate Mechanism (ERM). To that end, we apply duration models to estimate an augmented target‐zone model, explicitly incorporating political and institutional factors into the explanation of European exchange rate policies. The estimations are based on quarterly data of eight currencies participating in the ERM, covering the complete history of the European Monetary System. Our results suggest that both economic and political factors are important determinants of ERM currency policies. Concerning economic factors, the money supply, the real exchange rate, the interest rate in Germany and the central parity deviation would have negatively affected the duration of a given central parity, while credibility and the price level in Germany would have positively influenced such duration. Regarding political variables, elections, central bank independence and left‐wing administrations would have increased the probability of maintaining the current regime, while unstable governments would have been associated with more frequent regime changes. Moreover, we show how the political augmented model outperforms the model which just incorporates pure economic determinants, both in terms of explanatory power and goodness of fit.