拇指互动公司

本教学案例以中国内地手机游戏产业的演变过程为背景,描写了成立于2006年9月的厦门拇指互动公司从创立到生存的过程,突出了公司面临发展抉择的难题。拇指互动在创立之初,没有独特的资源和产品优势,时逢手机游戏业务市场处于调整期,企业生存环境艰难,在J2ME市场挣扎生存。山寨手机以及MTK中间件手机游戏平台的出现,为公司找到了一条新的盈利渠道。进入2009年,在3G时代大格局下,拇指互动应该保持J2ME和MTK中间件两条产品线同时进行？还是专注相对高端的J2ME产品线？或相对低端的MTK中间件产品线？选择的战略在管理不完善并依然处于生存期的拇指互动如何执行？公司的CEO方矢君感到困惑。本案例适合战略管理、创业管理和创新管理等课程,尤其适合于克里斯坦森的破坏性创新模式教学的案例讨论使用。     

A Dynamic Decision Model of SMEs' FDI

Many scholars generally believe that small and medium-sized enterprises (SMEs) in comparison to large firms are at a disadvantage in foreign direct investment (FDI). However, new evidence suggests that SMEs also play an important role in FDI. Why do they undertake risk in other countries? We are interested in what factors significantly motivate them to go abroad. Taiwan's SMEs play a vital role in her economic development and outward FDI, and this study therefore focuses on the outward FDI of Taiwan's SMEs. We apply the hazard rate approach to perform an empirical analysis, taking into consideration the conditional probability of the element of time. Among SMEs, the lower the degree of "capital intensities," the larger the "firm sizes," the higher the "export ratios," or the larger the level of "R&;D intensities" are, the greater the intention will be to undergo FDI. The major factors motivating Taiwanese SMEs to conduct FDI in recent years are "utilizing local labor," "expanding markets," and "following major clients."

     

Four tigers and the dragon: values differences,similarities, and consensus

This study examines the influence of economic and political factors that contribute to the convergence and/or divergence in value priorities of five East Asian societies—China, Hong Kong, Singapore, South Korea, and Taiwan. We find that political and social-economic factors influence the values orientations of managers within this region. However, economic development level is an insufficient explanation for values convergence without consideration of the societal context and cultural traditions in which that development occurred.

Investor sentiment and interest rate volatility smile: evidence from Eurodollar options markets

This paper studies the extent to which investor sentiment affects the Eurodollar option smile and finds that there is the dynamic interplay between sentiment-driven investors and arbitrageurs. The results reveal a significant relation between investor sentiment and interest rate volatility smile. The significant relations are stronger for put options, for short-maturity options, and for periods with higher uncertainty. The results are robust when considering controlling variables, net buying pressure, different interest rate option models, model-free method, or excluding rational components from the sentiment measures. Our findings favor the limits to arbitrage hypothesis against the positive feedback hypothesis, suggesting that the sentiment effect is transitory. Change in investor sentiment explains the time-varying smile that can be explained neither by rational interest rate models nor by net buying pressure.     

The Real and Accrual-based Earnings Management Behaviors: Evidence from the Split Share Structure Reform in China

This paper investigates the earnings management activities in Chinese listed firms and the impact of the split share structure reform (SSSREF). We demonstrate that Chinese listed firms exhibited a long-term positive relationship between real and accrual-based earnings management activities over the 2002–2011 period. This reflects the environment of weak investor protection and lack of effective corporate governance in China. Our results also indicate that the SSSREF in China has not fundamentally improved firms' quality of financial information. This may be because ownership concentration remains high. However, it is of interest that the reform has created an incentive alignment effect exogenously. We find that firms' use of discretionary accruals was constrained, and they have consequently shifted to less detectable and under-scrutinized real earnings activities after the reform. This shift is similar to that seen with the direct regulatory changes in accounting reporting rules on firms' earnings behaviors in developed countries where the investor protection environment is strong. We suggest that firms' shifting between the accrual and real-based earnings methods is an overlooked area for investors to consider in the emerging market context, and may require the attention of regulators.     

Giving fish or teaching to fish? An empirical study of the effects of government research and development policies

This study compares how government research and development (R&D) subsidy and knowledge transfer from universities and public research institutions stimulate a firm's new product development. More importantly, we emphasize that the effects of these governmental R&D policies on new product development can be achieved not only directly, but also via a mediating role – a firm's innovation capability. Furthermore, we test how other external knowledge sources (such as knowledge from universities and public research institutions) interact with government R&D support to stimulate new product development. The results, based on an investigation of 270 Chinese firms, suggest that both government R&D subsidy and knowledge transfer from universities and public research institutions enhance new product development. The results also show that although government R&D subsidy and knowledge transfer from universities and public research institutions has a direct impact on new product development, innovation capability does mediate the above relationships. Moreover, unlike the findings that other external knowledge sources have a direct influence on new product development as indicated by the previous literature, our findings suggest that external knowledge sources substitute with the government R&D subsidies and complement with knowledge transfer from universities and public research institutions. The results confirm the old sayings that teaching to fish (knowledge transfer from universities and public research institutions can complement with other external knowledge sources) is much better than giving fish (government R&D subsidies substitute other external knowledge sources). This paper enriches current literature of government R&D support policies to firm new product development by providing empirical evidences.     

Cost effectiveness analysis of a next generation risk assessment score for cardiovascular disease

Objectives:

The goal of this study is to determine the cost-effectiveness of MIRISK VP, a next generation coronary heart disease risk assessment score, in correctly reclassifying and appropriately treating asymptomatic, intermediate risk patients.

Study design:

A Markov model was employed with simulated subjects based on the Multi-Ethnic Study of Atherosclerosis (MESA). This study evaluated three treatment strategies: (i) practice at MESA enrollment, (ii) current guidelines, and (iii) MIRISK VP in MESA.

Methods:

The model assessed patient healthcare costs and outcomes, expressed in terms of life years and quality-adjusted life years (QALYs), over the lifetime of the cohort from the provider and payer perspective. A total of 50,000 hypothetical individuals were used in the model. A sensitivity analysis was conducted (based on the various input parameters) for the entire cohort and also for individuals aged 65 and older.

Results:

Guiding treatment with MIRISK VP leads to the highest net monetary benefits when compared to the ‘Practice at MESA Enrollment’ or to the ‘Current Guidelines’ strategies. MIRISK VP resulted in a lower mortality rate from any CHD event and a modest increase in QALY of 0.12–0.17 years compared to the other two approaches.

Limitations:

This study has limitations of not comparing performance against strategies other than the FRS, the results are simulated as with all models, the model does not incorporate indirect healthcare costs, and the impact of patient or physician behaviors on outcomes were not taken into account.

Conclusions:

MIRISK VP has the potential to improve patient outcomes compared to the alternative strategies. It is marginally more costly than both the ‘Practice at MESA Enrollment’ and the ‘Current Guidelines’ strategies, but it provides increased effectiveness, which leads to positive net monetary benefits over either strategy.     

探究食品企业品牌建设与提升对策

品牌是企业的重要资产,是企业在市场竞争无形要素中最核心的要素,是培育企业核心竞争力的重要支撑。针对食品企业品牌存在的定位不明确、品牌形象不鲜明与缺乏创新能力、品牌维护力度不强等问题,食品企业建设与提升品牌,应提高对品牌资产重要性的认识;突出品牌个性,进行恰当的品牌定位;增强企业研发和创新能力,创立企业自主品牌;适度进行品牌延伸和规模扩张,壮大企业规模;科学宣传,提高品牌的知名度与培养高素质的品牌经营人才。     

Configuration of innovation and performance in the service industry: evidence from the Taiwanese hotel industry

This study attempts to state some facts about the importance of innovation in the service economy, and especially the hotel industry by classifying the configurations of innovation in Taiwanese hotels, as well as considering the types of innovation configuration that will maximise performance. Technological innovation, organisational innovation, and human capital innovation may be key sources of innovation. This study classified the configurations of innovation based on several innovation activities with two-step cluster analysis. Numerous empirical findings facilitate improved understanding of the relationship between the configurations of innovation and firm performance in the Taiwanese hotel industry.     

The dimensions of international hotel employee service attitude and their managerial implications

The purpose of this paper is to determine the dimensions of international hotel employee service attitude and the differences in customer satisfaction with these dimensions among guests from the USA, Japan, and Taiwan, and the resulting practical managerial implications in the area of international hotel operation. Using exploratory factor analysis, service attitude is divided into four dimensions: problem solving, empathic feeling, enthusiastic service, and friendliness. The results of the study reveal that there are significant differences in satisfaction with customer service among three national sets of tourists by the use of ANOVA. These findings are followed by a discussion of their implications for hotel management in the areas of employee recruitment, training, and motivation, with suggestions on how to improve the various dimensions of hotel employee service attitude and thereby, the corresponding customer satisfaction.