An Absorption Approach to Modeling the US Current Account

This paper derives and estimates a current account model based on the absorption approach (which views the current account balance as the difference between domestic saving and investment). This approach provides a framework which allows drivers of cross‐border financial flows and other determinants of saving and investment to be included in a current account model, an advantage not offered by the elasticity approach (which views the current account balance as the sum of net exports, net investment income, and net unilateral transfer). We estimate and compare vector error‐correction models of the absorption and elasticity approaches, with the absorption model nesting the elasticity model. We find that (1) the restrictions imposed by the elasticity model are rejected; and (2) the mean‐squared prediction errors of the absorption model are significantly smaller than those of the elasticity model.     

Price limit changes,order decisions,and stock price movements: an empirical analysis of the Taiwan Stock Exchange

Review of Quantitative Finance and Accounting - This study examines the relationships among price limit changes, order submission decisions, and stock returns in the Taiwan Stock Exchange....     

论企业供应链战略合作伙伴关系

20世纪90年代以来,随着经济全球化的发展,企业环境发生了很大变化,竞争已不是企业与企业之间的竞争,而是供应链与供应链之间的较量。越来越多的企业已认识到,与上、下游企业建立长期的战略合作伙伴关系对企业的长期发展有不可替代的作用。文章阐述了战略合作的动因与实质,分析了建立战略合作伙伴的关键性因素及其相关对策。     

Assessing visitors' experiences at hot spring recreation areas in Taiwan

This study assessed the recreational experiences of tourists and aims to discuss the sustainable development of hot spring recreation areas in Taiwan. The study employed questionnaires that included variables measuring importance, satisfaction, sustainable development, and demographic and recreational characteristics. The rate of repeat visits was extremely high. Moreover, tourists strongly agreed that hot spring recreation areas should develop ecotourism programmes. This study concludes that hot spring recreation areas could utilise their natural landscapes, hot spring quality, hotel service quality and proximity to neighbouring destinations to develop themselves. Copyright © 2009 John Wiley & Sons, Ltd.     

The interaction effect of relational norms and agent cooperativeness on opportunism in buyer–supplier relationships

In this study, we examined the effect of relational norms and agent cooperativeness on opportunism in buyer–supplier relationships. Drawing from the theoretical grounding of transaction cost economics, personality trait theory, and contingency theory, we proposed three distinct perspectives on opportunism mitigation in buyer–supplier relationships: (1) organizationalist, (2) individualist, and (3) interactionist, where relational norms, agent cooperativeness, and the interaction between them, respectively, serve as the key predictors in these three perspectives. The results of replicated experiments indicated that relational norms and agent cooperativeness interact with each other in mitigating opportunism and that the interactionist perspective yielded the highest explained variance in opportunism. This suggests that the interactionist perspective, a multi-level theoretical lens encompassing the dynamic interplay between organization-level and individual-level factors, was a more complete model in explaining opportunism than either the organizationalist or individualist perspectives. The consensus which emerged from post-experimental interviews of purchasing professionals is that agent personalities play an important role in buyer–supplier relationships. Some purchasing professionals had observed that uncooperative agents or personnel turnover in the boundary-spanning functions can substantially undermine even established relational exchanges. These qualitative findings are in line with our theoretical arguments and experimental outcomes.     

Being Good Citizens: Understanding a Mediating Mechanism of Organizational Commitment and Social Network Ties in OCBs

Given that citizenship challenges the basis and workings of the basic institutions market, state, and civil society, organizational citizenship behaviors (OCBs) become an important moral tenet found in some codes of ethical principles. This study explores service-oriented OCBs and their determinants. Three dimensions of service-oriented OCBs (loyalty, service delivery, and participation) are hypothetically influenced by distributive justice, procedural justice, personal cooperativeness, and the need for social approval through the mediation of organizational commitment. The three dimensions of OCBs are hypothetically influenced by personal cooperativeness, need for social approval, task interdependence, and outcome interdependence through the mediation of social network ties. The model is tested using data from contact employees at several financial holding companies in Taiwan. Test results reveal that the relationships between need for social approval and organizational commitment and those between task interdependence and social network ties are insignificant, whereas all other paths are significant. This study also provides managerial implications and limitations.     

Information Role of U.S. Futures Trading in a Global Financial Market

Using a bivariate, asymmetric generalized autoregressive conditional heteroskedasticity model, we examine the patterns of information flows for three financial futures contracts that are dual‐listed on U.S. and Asian markets (i.e., Nikkei 225 Index, Eurodollar, and dollar–yen currency futures). The results indicate that the U.S. market plays a leading role in terms of pricing‐information transmission across markets. In terms of volatility spillover across markets, however, foreign markets seem to play a similar role (e.g., Nikkei Index futures) or even a more significant role than the United States (e.g., Eurodollar futures in Singapore and dollar–yen currency futures in Japan). © 2001 John Wiley & Sons, Inc. Jrl Fut Mark 21:1071–1090, 2001     

我国大学生生命教育及其干预的研究

生命教育在现时代是一个紧迫且值得深入探讨的问题，它应成为高校教育的重要组成部分。近年来我国大学生的生命教育研究有了一定的进展，但仍缺乏对大学生生命教育的实证和干预研究。 生命教育是指向生命自身、针对生命内涵的教育，是引导受教育者正确认识人的生命、生命的价值，理解生活的真正意义的教育。近年来，我国生命教育的科研已经取得了一定的成绩，但对大学生的生命教育研究还处于一个起步阶段，特别是实证研究更是欠缺。本文对近十年来国内关于大学生生命教育及其干预的研究进行梳理与概括，以促进对此问题的深入思考。     

Explaining the nonlinear effects of financial development on economic growth

Using different indicators of financial development, recent empirical studies have discovered various patterns of nonlinearity in the relationship between financial development and economic growth. By adding consumption loans, which are nonproductive, into a standard model of asymmetric information, this paper generates a model that is able to replicate all possible nonlinear finance–growth relationships found in recent empirical studies.      

An Incentive Compatible Price Mechanism For Attaining Lindhal Allocation

A mechanism operated by price signals of individuals that yields Lindahl allocation as an outcome is studied. This mechanism incorporates producers as players as well as consumers. The mechanism is valid when there are two or more consumers. A stable allocation rule exists when two consumers are present, and a stable operation of the mechanism through parameter for the more general environment is analized. [020]