如何在中国汽车市场胜出

汽车制造公司要想在中国成为赢家，应对以下5点给予格外关注：加深对中国消费者对产品需求的理解：建立经济且适用的分销网络；引入先进品牌经验；保持合理成本结构；迅速与适当的伙伴建立相应的业务关系。     

Delaying the Normal and Early Retirement Ages in Spain: Behavioural and Welfare Consequences for Employed and Unemployed Workers

In this paper, we explore the links between pension reform, early retirement, and the use of unemployment as an alternative pathway to retirement. We use a dynamic rational expectations model to analyze the search and retirement behaviour of employed and unemployed workers aged 50 or over. The model is calibrated to reproduce the main reemployment and retirement patterns observed between 2002 and 2008 in Spain. It is subsequently used to analyze the effects of the 2011 pension reform in Spain, characterized by 2-year delays in both the early and the normal retirement ages. We find that this reform generates large increases in labour supply and sizable cuts in pension costs, but these are achieved at the expense of very large welfare losses, especially among unemployed workers. As an alternative, we propose leaving the early retirement age unchanged, but penalizing the minimum pension (reducing its generosity in parallel to the cuts imposed on individual pension benefits, and making it more actuarially fair with age). This alternative reform strikes a better balance between individual welfare and labour supply stimulus.     

Race,Restrictive State Abortion Laws and Abortion Demand

A disproportionately large number of abortions are performed on black and Hispanic women. This study empirically investigates whether restrictive state abortion laws differentially affect the abortion demand of white, black and Hispanic women for the year 2005. A state Medicaid abortion funding restriction significantly decreases the abortion rate of all three races. However, Hispanic women’s abortion demand is more sensitive to a Medicaid funding restriction than either white women or black women. Parental involvement laws and mandatory counseling laws have no significant impact on the abortion rates of the three racial groups. Two-visit laws are associated with a significant decrease in the abortion rate of white women, but have no significant effect on the abortion rates of black and Hispanic women.     

评估“正确”的风险

正董事会会议中经常会传来这样的声音:我们所要冒的险值得吗?尤其是在战略对话中,这个问题看似简单、常见,但答案却不简单无论管理层和董事会是否意识到,风险隐藏于任何组织的战略里,潜伏在你所做的一切决定中:拓展新市场;引进新产品;购买生产线;筹建新厂房;投资未知的研发活动等。一个公司的战略方向和执行战略方向的能力是这次冒险之旅能否成功的关键。因此,风险评估应该是战略制定过程中不可或缺的一部分。     

Latin America after the global crisis: the role of export-led and tradable-led growth regimes

Is the ongoing economic slowdown in industrialized countries likely to impact Latin American growth negatively in the medium- to long-run? This paper considers various transmission channels that work through trade in goods and services, and finds econometric evidence suggesting that shrinking global imbalances may create problems for Latin America. Specifically, using panel data analysis, we find that the trade balance as a proportion of GDP is positively associated with Latin American economic growth over the period 1953–2009. We then develop a simple dynamic model to help explain our main finding through investment and saving behaviour.     

The moderating effects of gender and inside versus outside sales role in multifaceted job satisfaction

Two key trends in B2B sales organizations are increased representation by females in sales roles and a shift toward more inside sales positions than has been true in the past. Prior work on multifaceted job satisfaction among salespeople has not fully taken these elements into account. This study furthers the literature by examining the moderating role of gender and inside versus outside sales role on multifaceted job satisfaction. Results provide opportunity for provocative discussion among sales organizational leadership of more customized approaches to improve the satisfaction of the sales force.     

Corporate cash holdings and political connections

We examine the relation between corporate liquidity and political connections measured via lobbying expenditures. This is an interesting question as many of the motives for holding cash should be diminished by political connections. Results indicate a significant and inverse relation between cash levels and lobby expenses and that the marginal value of cash decreases with lobbying. Taken together, these findings suggest firms react optimally to the reduced benefits of cash linked to political connections and that the market recognizes the weakened benefits of cash. Overall, our research shows another way political connections can shape corporate policy.     

BE/ME and E/P work better than ME/BE or P/E in regressions

Researchers often form ratios of variables to measure firm characteristics, but which ratios create the most powerful tests? For example, if we use ratios of book value of equity (BE) and market value of equity (ME), or earnings (E) and price (P), does it matter which variable appears in the denominator? Any variable in the denominator, when close to zero, creates outliers and is less likely to produce effective tests. Our tests, using data from 1972 to 2008, indicate the choice between reciprocals often produces significantly different outcomes. While ME/BE is a more commonly used control variable than BE/ME or LN(BE/ME), we find the latter two produce better results, even if the data are trimmed to mitigate the outlier problem. Similarly, using E/P generally produces better results than P/E, and while ratios with book value of assets (BA) in the numerator work better than those with it in the denominator, the difference is less pronounced than when BE or E is part of the ratio. While the focus of our empirical findings is on growth measures, the principal applies anytime a ratio has a denominator that is frequently near zero.     

Advances in Joint Modelling: A Review of Recent Developments with Application to the Survival of End Stage Renal Disease Patients

The use of joint modelling approaches is becoming increasingly popular when an association exists between survival and longitudinal processes. Widely recognized for their gain in efficiency, joint models also offer a reduction in bias compared with naïve methods. With the increasing popularity comes a constantly expanding literature on joint modelling approaches. The aim of this paper is to give an overview of recent literature relating to joint models, in particular those that focus on the time‐to‐event survival process. A discussion is provided on the range of survival submodels that have been implemented in a joint modelling framework. A particular focus is given to the recent advancements in software used to build these models. Illustrated through the use of two different real‐life data examples that focus on the survival of end‐stage renal disease patients, the use of the JM and joineR packages within R are demonstrated. The possible future direction for this field of research is also discussed.